Virtualized Evolved Packet Core Market: Meticulous Research® Reveals Why This Industry is Growing at a CAGR of 23.4% to Reach $17.05 Billion by 2028

Virtualized evolved packet core has recently received significant attention from the telecom sector due to the considerable benefits offered by the technology, including high performance, reliability, scalability, automation, reduced network cost, and low latency delivery of real-time applications. Besides, virtualized evolved packet core brings IT and communications technologies together to facilitate end users to meet the challenges of rapid bandwidth growth and service innovation with agility, flexibility, and cost-effectiveness.

Meticulous Research^®, in its latest publication on Virtualized Evolved Packet Core Market, states that the global market will grow at a CAGR of 23.4% from 2021 to 2028 to reach $17.05 billion by 2028.

The growth of this market is backed by the rising demand for high speed and large network coverage, increasing need to reduce operational expenditure (OPEX) and capital expenditure (CAPEX), growing mobile data traffic volume, and growing investment in 5G technology. Besides, expanding existing network infrastructure with limited installation expenses has attracted several organizations to incorporate virtual evolved packet core solutions. However, factors such as a consistently growing number of security concerns and degrading global economic conditions due to COVID-19 obstruct the growth of the virtualized evolved packet core market.

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To provide efficient analysis, Meticulous Research^® has segmented this market based on component (solution and services), Application (LTE, VoLTE, IoT & M2M, MPN & MVNO), deployment mode (On-premise and cloud), end user (telecom industries, enterprises, and others). The study also evaluates industry competitors and analyses the market at a country level.

Geographically, in 2021, North America is expected to command the largest share of the virtualized evolved packet core market. The vEPC market growth is attributed to the expansion of LTE and LTE-advanced (LTE-A) networks in the region. Many companies in the region are adopting virtualized evolved packet core technologies to enhance their IT infrastructure and leverage the benefits of new technologies, such as 5G and IoT. Besides, the presence of established virtualized evolved packet core players and a conducive environment for budding start-ups are expected to help the region maintain its dominance over the virtualized evolved packet core market throughout the forecast period.

In terms of end user, in 2021, the telecom sector is expected to command the largest share of the virtualized evolved packet core market. Virtualized evolved packet core solutions offer significant benefits such as improved latency issues, enhanced IT agility, better speed and bandwidth connectivity, and reliable application services. Besides, the increasing need to reduce operational expenditure (OPEX) and capital expenditure (CAPEX) is expected to spur the demand for virtualized evolved packet core solutions.

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In terms of application, in 2021, the MPN & MVNO is expected to command the largest share of the virtualized evolved packet core market. The large share of this segment is mainly attributed to the rising penetration of mobile devices and demand for low-cost mobile services, increasing demand for high-speed internet connectivity, and the rising demand for improved voice, video, and mobile internet.

Key Players

The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in this market, including 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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