Virtualized Evolved Packet Core Market Updates

Virtualized Evolved Packet Core Market size was valued at USD 7.4 Billion in 2023 and is poised to grow from USD 9.09 Billion in 2024 to USD 47.03 Billion by 2032, growing at a CAGR of 22.8% during the forecast period (2025-2032).

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. 'Cisco Systems, Inc. (United States) ', 'Nokia Corporation (Finland) ', 'Ericsson (Sweden) ', 'Huawei Technologies (China) ', 'ZTE Corporation (China) ', 'Samsung Electronics (South Korea) ', 'Mavenir (United States) ', 'NEC Corporation (Japan) ', 'Affirmed Networks (United States) ', 'Athonet (Italy) ', 'Ciena Corporation (United States) ', 'ENEA (Poland) ', 'Infinera Corporation (United States) ', 'Intel Corporation (United States) ', 'Juniper Networks (United States) ', 'NEC/Netcracker (Japan) ', 'Parallel Wireless (United States) ', 'Radisys (United States) ', 'Red Hat (United States) ', 'VMware (United States)'

Increasing Mobile Network Data Traffic

Growing demand for IoT and M2M services is the new trend in the market. Several mobile providers have installed vEPC in the IoT packet core network. NFV solutions for the IoT cellular network are also being prepared by vEPC solution providers. It is simple for the operator to provide superior connection for M2M devices and explore new services for customers by adopting the vEPC solution in IoT core networks.

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.