Connect with us

Business

Virtualized Evolved Packet Core (vEPC) Market to Explore Future Growth by 2028

Santosh Sargar

Published

on

As per the report published by Fior Markets, the global Virtualized Evolved Packet Core market is expected to grow from USD 3.90 billion in 2020 and to reach USD 20.43 billion by 2028, growing at a CAGR of 23% during the forecast period 2021-2028.

Virtualized Evolved Packet Core is a cutting-edge mobile-core network technology that is gaining traction in the telecoms sector. The constantly rising user base isn’t necessarily affecting the sector’s revenues. As a result, telecommunications companies are looking for ways to boost capacity and coverage while cutting total operating costs. Network operators are increasingly turning to virtualized Evolved Packet Core to improve service quality at a low price. Advancements in technologies, including 5G, IoT, and M2M, drive the deployment of Virtualized Evolved Packet Core. More possibilities for enhanced mobile-core network systems will emerge as these technologies improve. By virtualizing evolving Packet Core capabilities and mixing and matching individual network components as needed, mobile operators can theoretically design networks to meet the specific requirements of individual consumers. More opportunities for advanced mobile-core network systems will emerge as these technologies improve.

vEPC can also save CAPEX and OPEX by reducing reliance on specialized hardware while speeding up service delivery, allowing for on-demand scalability, and responding to real-time network situations and user needs. Furthermore, because of its numerous benefits, such as quicker Time-to-Market and lower Operating Expenses, telcos are increasingly using virtual EPC systems. Network scalability and flexibility are also features of these solutions. These technologies also allow telecom operators and businesses to deploy new services quickly, opening up new market potential. Telecom operators’ widespread use of vEPC solutions throughout the world appears to be driving the vEPC market forward.

Growing Virtualized Evolved Packet Core around the globe, expanding mobile network data traffic, an increasing number of smartphone subscribers, increasing average data volume per subscription, business transition to cloud services, and high bandwidth are the drivers driving the market. Rising security concerns, network complexity leading to weak links, security risks, a lack of understanding, and a lack of resources to migrate toward virtualization are all challenges limiting industry growth. Rising IoT industry growth, ability to customize cost-effectively, low latency, developments in Machine-to-Machine communication networks, and the transition from LTE to 5G technology are all likely to drive market expansion.

Key players operating in the global Virtualized Evolved market include Nokia, Ericsson, Cisco, Druid Software, Huawei, Samsung, Polaris Networks, Affirmed Networks, Athonet,  IPLook, Tech Mahindra, Parallel Wireless, Xingtera, Lemko, and Telrad Networks. To gain a significant market share in the global Virtualized Evolved market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

To Know More, View the Sample Report

The services segment dominated the market and held the largest market share of 61% in the year 2020

Based on components, the global Virtualized Evolved market is segmented into Solutions and services. The services segment dominated the market and held the largest market share of 61% in 2020. This growth is attributed to the changing trends in technologies, increasing adoption of vEPC solutions, lowering operational costs, increasing the overall revenue, and improving the business performance.

5G segment dominated the market and held the largest market share of 56% in the year 2020

Based on the network, the global Virtualized Evolved market is segmented into 4G and 5G. 5G segment dominated the market and held the largest market share of 56% in 2020. This growth is attributed to the growing demand for automated networks, benefits from software-defining 5G network, service versatility, and cloud-based technologies.

Advertisement
interviews-reviews

5G segment dominated the market and held the largest market share of 56% in the year 2020

Based on network, the global Virtualized Evolved market is segmented into Telecom operators & Enterprise. The Telecom operator segment dominated the market and held the largest market share of 56% in 2020. This growth is attributed to the rising smartphone users, increasing data usage, transparency, and network `stability.

Continue Reading
Comments
Advertisement Submit

TechAnnouncer On Facebook

Pin It on Pinterest

Share This