DUBLIN–(BUSINESS WIRE)–Feb 16, 2021–
The "Global Virtualized Evolved Packet Core (vEPC) Market by Component (Solutions & Services (Professional & Managed)), Deployment Model (Cloud, On-premises), Network Type (4G & 5G) End-user (Telecom Operators, Enterprises) and Region – Forecast to 2026" report has been added to ResearchAndMarkets.com’s offering.
The Global Virtualized Evolved Packet Core (vEPC) Market is expected to grow from USD 3.9 billion in 2020 to USD 13.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.8% during the forecast period.
The vEPC market is gaining traction due to the evolution of cellular network technology, which has offered higher data speeds and lower latency. The vEPC market is gaining traction due to its cloud native and virtual machine based architecture that will improve the modularity of products.
Managed services segment is expected to grow at the highest CAGR during the forecast period
Managed services in the vEPC market outsource a complete network or a part of it on a proactive management basis to improve the network operations and reduce the organizational expenses. These services outsource solutions related to network security, and storage, desktop, server, hosting, applications, and mobile device management. As the vEPC market is in its initial phase of NSA deployment of 5G network, most vendors are not capable of providing a NSA solution and its associate services to the customers. This enforces them to manage a few of the services from vendors who are experts in providing those to deliver the required services to the customers.
Enterprises segment to grow at the highest CAGR during the forecast period
Enterprises are undergoing digital transformation across different industries. Businesses are in various stages of implementing new technologies to develop new solutions, improve service delivery, increase operational efficiency, reduce cost, gain competitive advantage, and meet rising customer expectations. 5G will soon make it into the list of technologies enterprise will consider, with NSA 5G solutions that will enable various new industrial applications, such as robotics, big data analytics, IIoT and AR/VR in engineering and design, as well as new ways to provide remote support and training.
Asia-Pacific (APAC) region to record the highest growing region in the vEPC market
APAC has several growing economies, such as China, Australia and Japan, which are expected to register high growth in the vEPC market. These countries have always supported and promoted industrial and technological growth. In addition, they possess a developed technological infrastructure, which is promoting the adoption of vEPC solutions across all industry verticals. The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility. APAC is one of the biggest markets for connected devices.
- Increasing LTE Mobile Subscriber and Penetration of Smartphones
- Increasing Mobile Network Data Traffic
- Need for Lower OpEx and CapEx
- Cloud-Native and Service-Based Architecture
- Differentiated 4G Services Via Network Slicing
- Raising Security Concerns
- Transiting from the Legacy Infrastructure to Virtualized Infrastructure
- Significant Opportunities for MNOs to Participate in the Growth of IoT Market
- Building 5G-Ready Mobile Networks
- Lack of Skilled Workforce
- Integrating vEPC with Existing Mobile Core and Back Office Systems
- Affirmed Networks
- Druid Software
- Parallel Wireless
- Polaris Networks
- Tech Mahindra
- Telrad Networks
For more information about this report visit https://www.researchandmarkets.com/r/4xkava
View source version on businesswire.com:https://www.businesswire.com/news/home/20210216005664/en/
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SOURCE: Research and Markets
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PUB: 02/16/2021 06:54 AM/DISC: 02/16/2021 06:54 AM