Market Research Future (MRFR) has revealed in its latest study that the global virtualized evolved packet core (vEPC) market is set to proliferate exponentially at 51.7% CAGR during the forecast period 2018 to 2023. The vEPC market is projected to reach a valuation of USD 11568.8 Mn by 2023-end up from USD 1020.05 Mn in 2017. The strong value maintained by the telecommunications sector has paved the way for the adoption of virtualized evolved packet core technology.
The evolution of mobile communication from First Generation (1G) to the currently dominated Fourth Generation (4G) enabled devices has intensified the need for providing access network functions. It has heightened the need for increasing the capacity and coverage of the communication, which is poised to encourage revenue creation for the virtualized Evolved Packet Core (vEPC) Market players. The embracement of virtualized evolved packet core technology ensures cost efficiency and a reduction in capital expenditure (Capex) and operational expenditure (Opex). This, in turn, is projected to accelerate market proliferation over the next couple of years. Additionally, the technology offers better customer experience and improved network management. It is anticipated to catapult the market on an upward trajectory. The growth of the market can be ascribed to the increasing demand for LTE communication, penetration of smartphones, etc. The advancement in technologies such as 5G, IoT, and M2M have opened avenues of growth opportunities for the market players.
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Global Market for Virtualized Evolved Packet Core-Competitive Dashboard:
Some of the key players profiled by MRFR in the report are Nokia Corporation (Finland), Cisco System Inc. (US), Ericsson AB (Sweden), Samsung Electronics (South Korea), Huawei Technologies Co. Ltd (China), NEC Corporation (Japan), ZTE Corporation (China), Mitel Networks Corporation (US), Affirmed Networks (US), and Athonet S.R.L. (Italy).
Global Market for Virtualized Evolved Packet Core-Segmental Analysis:
MRFR’s report offers a detailed segmental analysis of the market based on component, deployment, use case, and end-user. By component, the vEPC market has been segmented into solution and services. The solutions segment has been further sub-segmented into Mobility Management Entity (MME), Home Subscriber Server (HSS), Server Gateway (SGW), Packet Data Network Gateway (PDN GW), and others Among these, the services segment is anticipated to garner massive traction over the forecast period. The growth can be ascribed to the rising testing and commercialization of 5G-ready solutions.
By deployment, the market has been segmented into on-premise and on-cloud. Among these, the on-premise segment currently holds the most substantial share of the market. It is likely to remain highly lucrative market through the assessment period. Meanwhile, the on-cloud segment is estimated to register a relatively higher CAGR of 60.3% over 2023.
By use case, the market has been segmented into broadband wireless access (BWA), LTE VoLTE, IoT M2M, and MNO MVNO. Among these, the IoT M2M segment is projected to account for the largest share of the market throughout the forecast period reaching a valuation of USD 3798.1 Mn by 2023.
By end-user, the market has been segmented into telecom operator and enterprises. The telecom operator segment gained 70.9% share of the market in 2017 and is expected to thrive exponentially over the review period. Meanwhile, the enterprises segment is poised to thrive at a relatively higher pace and reach a valuation of USD 4094 Mn towards the end of 2023.
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On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America held the most significant share of the market in 2017 which accounted for 48% share. The region is likely to retain its prominence in the foreseeable future. The presence of major technological players coupled with robust infrastructure has augured well for the market operators participating in the competitive landscape of North America. Europe held the second most significant share of the market in 2017 which is estimated to be around 27% share. The region is expected to resonate strong growth opportunities over the next couple of years. Asia Pacific is projected to register a relatively higher CAGR during the forecast period. The growth is attributable to the catalyzed investments by telecom operators in emerging markets such as China, Japan, etc. Other factors favoring the growth of the virtualized evolved packet core market in Asia Pacific are reduced network complexity, internet penetration, reduced cost of smart devices, etc.