Virtualized Evolved Packet Core Market to Reach Valuation of USD 8.7 Billion by 2028 – Growth in Mobile Network Data Traffic Drives the Market

In terms of revenue, the Global Virtualized Evolved Packet Core Market is expected to reach USD 8.7 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 22.1% from 2022 to 2028.

The key factors propelling the growth of the Virtualized Evolved Packet Core market are the rising need to reduce operational expenditure (OPEX) and capital expenditure (CAPEX), the increasing volume of mobile data traffic, the rising demand for the commercialization of 5G networks, IoT deployment, and agile networks; and the rising demand for broadband services over mobile networks.

Additionally, a Virtualized Evolved Packet Core framework offers several crucial advantages, such as decreased network costs, increased automation, and improved network architectural flexibility. Packet core services are consolidated by vEPC into a virtualized cloud solution. By separating the solution from the physical layer and hypervisor and making a wide variety of vEPC solutions available on the market, operators have more choices for determining the layout of their packet core. Broadband Wireless Access, M2M, VOWi-Fi, LTE, VoLTE, and the Internet of Things are significant use cases for Virtualized Evolved Packet Core technologies (IoT).

Key Highlights from the Report

• Among Components, the Services segment is anticipated to dominate the Virtualized Evolved Packet Core market with the highest market share. As they are essential to meeting the client's needs, services like network testing, planning and optimization, support and maintenance, and consultancy are considered the foundation of vEPC.
• By Application, the LTE, VoLTE, and VoWiFi segments accounted for the highest growth rate during the forecast period. To provide LTE, Voice over LTE (VoLTE), and Voice over Wi-Fi (VoWiFi) service for mobile subscribers, MNOs are using vEPC technology on their mobile core network.
• Geographically, Asia Pacific held the largest market share in 2021 and is likely to be the most profitable market in the forecast period. This increase results from technological advancement, the adoption of 5G, and the government's increased support and development of the industrial sector.

Market Dynamics

The growth of the global Virtualized Evolved Packet Core market can be attributed to essential factors like an increase in smartphone users, an increase in LTE subscribers, a rise in the demand for better customer service, an increase in the emphasis on service quality and performance measurement, and the ongoing development of 5G infrastructures. Additionally, the requirement for telecom operators to lower network costs, improve network architecture flexibility, improve delivery services, and increase automation is anticipated to fuel market expansion in the following years.

The market for Virtualized Evolved Packet Core is anticipated to increase as the internet of things (IoT), and machine-to-machine communication devices become more widely adopted. Additionally, throughout the projection period, the adoption of technologies like cloud computing and IoT and the many chances for Mnos to participate in the development of the IoT market in the APAC region will generate growth prospects for the worldwide market.

However, this market's expansion needs to be improved by growing security concerns, high adoption costs for virtualization, resistance to switching from legacy infrastructure to virtualization, and competition from traditional infrastructure.

Asia Pacific Virtualized Evolved Packet Core market is likely to observe significant market growth with the highest CAGR in the coming years. The region's Virtualized Evolved Packet Core industry will have a lot of opportunities due to the growing use of technologies like VR and AR as well as the IoT, making content even more data-intensive and requiring seamless network access and coverage. In addition, the region is continually changing as new technology is used across numerous sectors. For the application of the Virtualized Evolved Packet Core solution, the infrastructure development in APAC, particularly in Japan, China, India, South Korea, Singapore, and Australia, and the growing deployment of 4G and 5G networks present enormous prospects.

The Global Virtualized Evolved Packet Core Market is Segmented as follows

• Components
  • Solution
  • Services
• Solutions
  • MME
  • HSS
  • S-GW
  • PDN-GW
• Services
  • Professional Services
  • Consulting
  • Integration & Deployment
  • Training & Support
  • Managed Services
• Networks
  • 5G Network
  • 4G Network
• End Users
  • Telecom Operators
  • Enterprises
• Deployment Modes
  • Cloud
  • On-Premises
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Virtualized Evolved Packet Core Market is

Cisco Systems Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), NEC Corporation (Japan), Mavenir (US), ZTE Corporation (China), Red Hat Inc. (US), Nokia Corporation (Finland), Huawei Technologies Ltd. (China), Affirmed Solutions Inc. (US), Samsung Electronics Ltd. (South Korea)

The Global Virtualized Evolved Packet Core Market Scope can be Tabulated as below