Virtualized Evolved Packet Core (vEPC) Market to Hit USD 13.65 Billion by 2030 – Report by Market Research Future (MRFR)
vEPC Market Thrives with the Surge in Mobile Data Traffic Volume
New York, US, May 18, 2022 (GLOBE NEWSWIRE) — vEPC Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “vEPC Market” information by Deployment, by Components, by Use Cases, by End-User and Region – Forecast to 2030” market size to reach USD 13.65 billion, growing at a compound annual growth rate of 21.12% by 2030.
Virtualized Evolved Packet Core Market Scope:
Surging volume of mobile data traffic; heightened requirement to bring down operational expenditure (OPEX) as well as capital expenditure (CAPEX); escalated demand for 5G network commercialization, agile networks; and IoT deployment and the rise in demand for broadband services instead of mobile networks enhance the virtualized evolved packet core market share. However, factors like the soring number of security concerns in network infrastructures paired with the economic decline owing to the COVID-19 outbreak pose grave challenges to the virtualized evolved packet core market.
Dominant Key Players in vEPC Market Covered are:
- ZTE Corporation (China)
- Cisco Systems, Inc. (U.S.)
- Telefonaktiebolaget LM Ericsson SE (Sweden)
- Affirmed Networks, Inc. (U.S.)
- Mavenir Systems, Inc. (U.S.)
- Huawei Technologies Co., Ltd. (China)
- Samsung Electronics Co, Ltd. (South Korea)
- Tecore Inc. (U.S.)
- Nokia Corporation (Finland)
- Parallel Wireless, Inc. (U.S.)
- F5 Networks, Inc. (U.S.)
- NEC Corporation (Japan)
- IPLOOK Technologies Co Ltd (China)
- Polaris Networks (U.S.)
- Athonet SRL (Italy)
- LEMKO Corporation (U.S.)
- Metaswitch Networks (U.K.)
- and Intel Corporation (U.S.)
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Market USP Exclusively Encompassed:
vEPC Market Drivers
The surge in the use of wireless devices for accessing mobile networks worldwide is enhancing the rate of mobile data traffic growth. Mobile data traffic worldwide has been rising owing to the surging penetration of smartphones coupled with the easy availability of non-expensive high-speed network services. For instance, reports reveal that smartphone penetration can expect to rise from 70% in 2021 to 85% by 2025-end. Ericson says that 5G networks will be carrying 50% of the total mobile data traffic by 2027. Therefore, the rise in mobile data traffic gives rise to the requirement for virtualized evolved packet core solutions for the management of data traffic. Virtualized evolved packet core helps in efficiently managing mobile data traffic, thereby enhancing throughput, reducing network congestion problems, enhancing service quality, and optimizing resource use.
Virtualized Evolved Packet Core Market Restraints
Like numerous new, complex technologies being introduced in the market, vEPC is throwing major challenges to MNOs as well. In previous times, MNOs were dependent on one or two big suppliers, including Nokia, Ericsson, Cisco, and Huawei, or any other to use their mobile cores, and the mobile cores are used as integrated systems on hardware platforms.
With that said, proprietary hardware platforms can’t be interchanged from various vendors and are developed to back certain network functions. Therefore, while integrating a vEPC with the existing mobile core and Back-Office Systems (OSS/BSS), MNOs have to deal with challenges since it needs significant customization.
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COVID-19 Analysis
The COVID-19 pandemic has been unfavorable for the majority of the sectors worldwide, giving rise to a number of public health measures, and disrupting the supply chains of the manufacturers. The spread of the pandemic has led to a shutdown of various operational facilities across the globe.
However, the companies active in the virtualized evolved packet core market are trying to safeguard the wellbeing and health of customers while backing government goals with respect to the maintenance of vital business activities. Reduction in cash flow has been another major concern, with most of the customers falling behind on payments or unable to make purchases, while inventory is canceled owing to disrupted supply chains. On the bright side, many companies are working on strategizing operations to remain resilient during the pandemic with minimum economic losses.
The players are trying to optimize their operations as well as strategies to sustain and ultimately beat the intense competition.
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Segmentation of vEPC Market Covered in the Research:
The virtual evolved packet core industry, with respect to component, caters to solutions as well as services. The services segment will grow at the highest rate between 2020 and 2027. Services segment has a stellar role in the use of next-generation networking solutions.
With respect to application, the virtualized default packet code market can be considered for VOLTE, LTE, loT and M2M, VOWifi, BWA and MPN and MVNO. The LTE, VOLTE, and VOWifi can project the highest growth in the years to come.
Depending on end-users, the virtualized evolved packet market can be divided into telecom operators along with enterprises.
Virtualized Evolved Packet Core Market Regional Analysis
The APAC market is in the lead out of all the regions, given surging adoption of modern technologies across numerous sectors. The infrastructural expansion in the region, particularly in South Korea, Japan, Singapore, Australia, India, and China, coupled with the rising use of 4G and 5G networks offer significant opportunities to the vEPC solution developers. Owing to the huge mobile subscriber base, vEPC firms in the region have become extremely competitive and are now highly focused on selling improved customer service. The heightened usage of smartphones in the region would bolster the demand for advanced vEPC technologies that could allow businesses to foster their network capacity while bringing down the cost of mobile capacity.
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North America can expect to accumulate a strong growth rate in the coming years, in view of the robust base of several renowned telecom giants. Mobile operators in the region are making extensive use of their networks including Internet of Things/IoT, wireless broadband and Machine to machine (M2M). In 2018, the US government rolled out Citizens Broadband Radio Service (CBRS) band for enterprises and private operators, which acted in favor of the vEPC solution market. Heightened deployment of multimedia services along with the amplified need for VoLTE should further enhance the market share in the region. The presence of a modern telecom network infrastructure coupled with the rising adoption of the 4G technology, the regional market will continue to witness substantial growth in the next couple of years. Other growth boosters can be the presence of numerous telecom giants and the favorable government initiatives that enhance the use of virtualized evolved packet cores.
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