ALBANY, New York, March 14, 2018 /PRNewswire/ --
The global virtual evolved packet core market was valued around US$ 969.9 Mn in 2017 is anticipated to register a stable CAGR of over 36.3% during forecast period of 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled "Virtual Evolved Packet Core Market" - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026". Growing need for flexible and elastic networks, increasing smart phone penetration, rising number of LTE subscribers has increased the penetration and growth of virtual evolved packet core market globally. Increasing need for savings in capital expenditure (CapEx) and operational expenditure (OpEx), the adoption of virtual evolved packet core solution by enterprises is increasing. The virtual evolved packet core market in North America is expanding with a high potential to grow registering a CAGR above 36.0% on the backdrop of numerous advancements in networking industry such as 5G, LTE and VoLTE, rise in the usage of virtual evolved packet core and growing consumer demand for high speed data networks for reliable connectivity and mobility.
Growing need for flexible and elastic networks to drive market growth
Growing consumer demand for high speed data networks for reliable connectivity and mobility has increased the demand for virtual evolved packet core solutions. The numerous advancements in networking industry such as 5G, LTE and VoLTE are expected to boost the demand for virtual evolved packet core solutions. IT companies are launching services which involve the deployment of virtual evolved packet core to amplify the efficiency of the services. The increase in adoption of advanced technologies has led to the emergence of a middle class segment with significant spending power. The key trends prevalent in the virtual evolved packet core market are joining forces with prominent telecom players, launch of services pertaining to vEPC and expansion of regional footprints.
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Rise in adoption of cloud based vEPC solutions to Boost Growth of cloud Segment
The deployment segment is fragmented into cloud and on-premise. Cloud segment continues to be the leading segment globally during the forecast period due to rising need to reduce the overall equipment costs. Furthermore, large number of enterprises are rapidly moving their data into cloud which has increased the growth of cloud segment across different regions of the world. Telecom operators are rapidly adopting virtual evolved packet core solutions in order to deliver faster customer service and improve collaboration with third-party software application vendors.
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IoT & M2M Application to Dominate the Global Virtual Evolved Packet Core Market
The application segment of global virtual evolved packet core market is divided into LTE, IoT & M2M, VoLTE & VoWiFi, BWA and MPN & MVNO. Of which, IoT & M2M segment is anticipated to dominate the market owing to rising deployment of vEPC solutions in IoT and M2M devices and growing need for high speed data networks around the globe. The IoT & M2M segment is anticipated to expand at the highest CAGR of over 36.5% during forecast period of 2018 to 2026. IoT and M2M segment is expected to grow at highest CAGR over the forecast period. Mobile operators are rapidly deploying vEPC in the IoT packet core network that enables operator to bring superior connectivity for M2M devices and explore new services for customers.
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Growth in Adoption of vEPC Solutions and Service by Telecom Operators in Order to Deliver Faster Customer Service to Fuel Growth of End User Segment
In terms of end-users, market is divided into telecom operators and enterprises. The telecom operators segment dominated the virtual evolved packet core market in 2017. The trend is expected to continue during the forecast period. The segment is anticipated to hold more than 36.0% of market share in 2017. Growth of the segment is attributed to increasing number of vEPC solution and services providers and rising partnerships among the market players to expand global presence.
Large Number of LTE Subscribers and Growing Popularity of Smartphones in Developing Countries Like China, India, Brazil, And Taiwan to Create More Opportunities in The Market
Geographically, global virtual evolved packet core market is divided into major five geographical regions, including North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. In 2017, North America was the topmost revenue generating region followed by Europe. Developed regions such as North America and Western Europe are expected to witness increasing implementation of 5G technology thereby increasing the adoption of virtual evolved packet core solutions. With the rise in the usage of virtual evolved packet core, various manufacturers from North America are rapidly moving ahead to enter the virtual evolved packet market by making strategic alliances with other companies. The U.S. held highest market share in 2017 for North America and is estimated to grow at highest CAGR during the forecast period. Mobile operators in the country are implementing new use cases using their networks such as IoT (Internet of Things), Machine to machine (M2M) and wireless broadband. In 2018, the U.S. government has planned to implement Citizens broadband radio service (CBRS) band for private operators and enterprises. Citizens' broadband radio service enables enterprises to build their own private LTE networks. Europe is anticipated to grow at significant CAGR during the forecast period as multiple players in Europe are establishing partnerships to deploy vEPC on large scale in order to deliver the service across the region. The virtual evolved packet core market in Asia Pacific is further expected to grow at highest CAGR over the forecast period. Factors such as growing adoption of virtual evolved packet core solutions by small and medium enterprises for network flexibility and increasing dependency on internet are expected to drive the Asia Pacific virtual evolved packet core market. Middle East & Africa and South America are expected to nurture at substantial pace owing to the increasing technological innovations and growing investments by telecom operators in the region in order to provide better customer service.
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Key Players such as Cisco Systems, Nokia Corporation and Ericsson AB are Likely to Continue to Lead the Global Virtual Evolved Packet Core (vEPC) Market
The company profiling of key players profiled in the global virtual evolved packet core (vEPC) market includes company overview, major business strategies adopted, SWOT analysis and market revenues for year 2016 to 2018. The key players profiled in the global virtual evolved packet core (vEPC) market includes Ericsson AB, Nokia Corporation, ZTE Corporation, Huawei Technologies Co., Ltd., Cisco Systems, Inc., Intel Corporation, NEC Corporation, Mavenir, Affirmed Networks and ng4T GmbH. Various players are establishing partnerships to deploy vEPC on large scale across the world in order to assist the telecom operators to cope with the traffic growth in an economical way. The global virtual evolved packet core market is segmented as follows:
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