Pune, India, April 17, 2019 (GLOBE NEWSWIRE) -- As per the latest study conducted by Market Research Future (MRFR), The global virtualized evolved packet core market is projected to reach a valuation of more than 11,500 Mn in 2023 up from USD 1,020.05 Mn in 2017. A virtualized evolved packet core refers to a framework that helps the convergence of voice and data on 4G and 5G networks. Growth in the market is primarily attributable to the potential of vEPC and promotion of high-quality mobile services because of it.
Network operators are likely to deploy vEPC to optimize their service quality while keeping affairs fairly cost-effective, hence, driving significant growth to the vEPC market. Also, rapid technological advancements in the 5G, IoT, as well as M2M are pushing the market significantly during the review period. It is also estimated that with further developments in these technologies, the global virtualized evolved packet core market will witness new growth opportunities in the foreseeable future.
Furthermore, with increasing data traffic, CSPs are bound to be more likely to implement vEPC solutions for commercialization of 5G network, promoting substantial growth in the virtual EPC market. Additionally, as networking software has transitioned to virtualization, the telecommunication operators are facing challenges from location-based distributed virtual network functions. By combining probe/packet broking functions with vEPC at a single location, this challenge can be overcome. Therefore, the use of vEPC to create a centralized location for data transmission management over an LTE network is expected to burgeon market growth to a great extent.
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Market Segmentation
The global vEPC market has been segmented on the basis of deployment, use case, component, and end-user. The vEPC market is segmented into solution and services, based on component. The solution segment is further segmented into serving gateway (S-GW), mobile management entity, packet data network gateway (PDN-GW), home subscriber server (HSS), policy, and changing rules functions (PCRF). The services segment has the sub-segments of professional services and managed services. As per the MRFR report, the solution segment is projected to lead the virtualized evolved packet core market. Whereas, the services segment is anticipated to garner the fastest growth during the assessment period.
Based on deployment, the virtualized evolved packet core market is segmented into on-premises and on-cloud. The on-premise segment is likely to be the frontrunner in the vEPC market and garner revenue of USD 7680.0 Million, with a staggering 48.2% CAGR during the review period. A rapid shift by network providers to a cloud-based virtualized EPC solution to lower their investments in network infrastructure and to offer faster deployment benefits are estimated to drive the on-cloud segment.
By use case, the market is segmented into broadband wireless access (BWA), LTE & VoLTE, IoT & M2M, and MNO & MVNO. The IoT & M2M segment is expected to accrue USD 3798.1 Million by the end of 2023. The IoT & M2M segment is also estimated to be the fastest growing segment during the forecast period, with a whopping CAGR of 57.3% through the assessment period.
Based on end-user, the vEPC market is segmented into enterprise and telecom operators. The telecom operators segment held a 70.9% share of the market. It is projected to maintain the same dominant position during the forecast period, expanding at a 49.4% CAGR. The enterprise segment is anticipated to capture 56.6% CAGR during the review period, accruing revenue of USD 4094 million by 2023.
Smartphone and Internet Penetration to Bolster Market Growth for During Forecast Period
The global Virtualized Evolved Packet Core Market is geographically segmented into Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW). Asia Pacific is anticipated to record the highest growth during the forecast period of 2018-2023. The most primary factor contributing to the substantial market growth in Asia Pacific is the proliferating penetration of smartphones and the internet. China has surpassed the U.S. in terms of web and mobile penetration, hence, significantly contributing to market growth in the region. Additionally, the region boasts a presence of numerous telecom giants such as Ericsson, as well as, Nokia who are heavily investing in the research and development of the network infrastructure, thus pushing the regional market exponentially. Further, favorable government policies supporting the transformation of the digital network is likely to boost sizeable growth in the developing economies of the APAC.
North America held the biggest market share of 48% in 2017 and accounted for USD 484.6 Million in 2017. With the presence of an advanced telecom network infrastructure and increased adoption of 4G technology, the market is witnessing propelled growth in the region. Furthermore, the presence of many telecom giants in the region and supportive government initiatives are assessed to augment the virtualized evolved pocket core market.
Key Players
MRFR has profiled many notable players in the virtualized evolved packet core market including Nokia Corporation (Finland), Ericsson AB (Sweden), ZTE Corporation (China), Samsung Electronics (South Korea), Huawei Technologies Co. Ltd (China), NEC Corporation (Japan), Affirmed Networks (US), Cisco System Inc. (US), Mitel Networks Corporation (US), and Athonet S.R.L. (Italy).
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Industry News
April 2019: Syniverse and Affirmed Networks announced their launch of Affirmed vEPC, which is a secure, cloud-based virtual network solution that aids enterprises in the deployment of new internet of things (IoT). Syniverse is the most connected company in the world, while Affirmed is the global leader in virtualized mobile networks.
April 2019: Swisscom is preparing for their Europe launch for 5G services in the 3.5GHz that work on smartphones. Swisscom is working with Ericsson and implementing Ericsson’s radio access solutions, including core solutions that include virtualized evolved packet core (vEPC), full stack NFVI, and virtualized IP multimedia subsystem (IMS).
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