USD 4.85 billion
Report ID: SQSG50C2010 | Region: Global | Published Date: November, 2022 | Pages: 157
Global Virtualized Evolved Packet Core Market was valued at USD 4.85 billion in 2021, and it is expected to reach a value of USD 20.45 billion by 2028, at a CAGR of 22.85% over the forecast period (2022-2028).
Due to its cloud native and service based architecture, the Global Virtualized Evolved Packet Core Market is expanding. Additionally, the virtualized evolving packet core market plays a significant role for telcos due to its vast range of features and functionalities. In accordance with the shifting requirements of the network infrastructure, the virtualized evolving packet core market solution effectively satisfies the needs and aspirations of telecom operators.
To manage the increasing amount of mobile data traffic, virtualized evolving packet core solutions are now required. The efficient management of mobile data traffic by a virtualized evolving packet core increases throughput, reduces network congestion problems, optimises resource consumption, and improves service quality. One of the key factors driving the adoption of the virtualized evolving packet core market is the advancement of cellular network technology, which offers faster data speeds and lower latency.
Global Market Size
USD 4.85 billion
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Global Virtualized Evolved Packet Core Market is segmented based on the Component, Application, Deployment Mode, End Users and region. Based on the component, the Market is segmented into solution and services. Based on services, the market is segmented into Professional services, Consulting, Integration and deployment, training and support, and managed services. Based on Network, the market is segmented into 4-G network and 5-G network. Based on the application, the market has been segmented into LTE and VoLTE, IoT and M2M, MPN and MVNO. Based on the deployment mode, the market has been segmented into On premises and cloud. Based on end users, the market is segmented as telecom and enterprises. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Components
Based on component, the solution segment dominated the market and accounted for the largest share of the Global Virtualized Evolved Packet Core Market share in 2021. The factors propelling the growth of this market segment include the growing requirement to lower OPEX and CAPEX, increasing mobile data traffic volume, and rising demand for high-speed and extensive network coverage. The usability, importance, and simplicity of virtualized evolving packet core solutions all contribute to the market expansion. Due to the advantages these solutions bring, a number of suppliers are investing in R&D to improve and lower the cost of the solutions so that even small and medium-sized businesses may use them.
The services segment is fastest growing segment throughout the forecast period. The increasing use of wireless mobile and network has increased the demand for these service driving Global Virtualized Evolved Packet Core Market growth. The changing trends in technologies have surged the need for the services segment by the end users.
Analysis by Deployment Mode
The cloud based category dominated the market in 2021 and anticipated to expand at the fastest CAGR throughout the forecast period. The use of cloud computing is becoming more and more common among small and medium-sized businesses. Many businesses are gradually implementing cloud infrastructure, which is anticipated to expand in the upcoming years. The advantages of cloud infrastructure, such as its simplicity of adoption, low need for internal infrastructure, scalability, and simplicity of networking solution installation, encourage the faster expansion of the market.
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North America dominated the largest Global Virtualized Evolved Packet Core Market share in 2021. The market growth is attributed to the presence of various advanced technology for networking which boost the market growth.
Asia Pacific is fastest growing region during the forecast period. The increasing usage of technologies like cloud computing and IoT is the key factor behind the region’s rapid growth. In addition, it is anticipated that the region would expand quickly over the next few years due to the rapid spread of 5G in Asia Pacific. Growing subscriber base, favourable government policies and regulations, and demand for broadband services are expected to surge market growth.
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Currently, 68% of all mobile data traffic consists of video. Both the rising average data usage per subscription and the rising subscription rate for smartphones are to blame for the increase in traffic. India, which continues to have the highest monthly smartphone usage at 15.9GB, is one of the nations where traffic growth has been on the upswing.
The existing legacy networks (2G, 3G, and 3.5G) and internet service networks are connected to the 4G/LTE network, as well as vertical industrial networks for things like cars, factories, and loT devices. It will build a network link structure centred on the 4G/LTE networks out of intricate heterogeneous networks. Due to the intricacy of these networks, weak links may form between networks and devices that have varying levels of security technology and security needs. The ability to weaken 4G/LTE security is restrains the market growth.
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Global Virtualized Evolved Packet Core Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Virtualized Evolved Packet Core Market analysis, North America dominated the market and capture higher market share. The growth of the region is attributed to the advanced technology available to solve various network problem. US has emerged as a significant contributor to market growth in North America region. In terms of deployment mode, the cloud mode segment is dominates the market. This segment's leading position can be attributed to its use in small and medium-sized businesses. In terms of components, the solution segment led the market and is predicted to grow at the fastest rate.
|Market size value in 2021||USD 4.85 billion|
|Market size value in 2028||USD 20.45 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global Virtualized Evolved Packet Core Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Virtualized Evolved Packet Core Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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