PUNE, India, September 23, 2016 /PRNewswire/ --
According to a new market research report "Virtual Customer Premises Equipment (V-CPE) Market by Component (Solutions/Tools & Services), Service Model (IAAS, PAAS & SAAS), Application Area (Enterprises and Data Center & Telecom Services), Organization Size, and Region - Global Forecast to 2021", published by MarketsandMarkets, the V-CPE market size is estimated to grow from USD 486.5 Million in 2016 to USD 2,818.8 Million by 2021, at a Compound Annual Growth Rate (CAGR) of 42.1%.
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Browse 86 market data Tables and 56 Figures spread through 162 Pages and in-depth TOC on " Virtual Customer Premises Equipment (V-CPE) Market"
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The major forces driving this market are the growing demand for virtual or cloud-based solutions, benefits of cost optimization in maintaining the hardware, and rising need for mobility. The high demand for private clouds among enterprises is promoting cloud-based applications that help boost the adoption of V-CPE solutions in the networking market.
Data centers and telecom service providers segment is expected to grow at the highest CAGR in the V-CPE market during the forecast period
V-CPE solutions and services with regards to application areas allow the data centers and enterprises to deploy business applications quickly on the customer premises. Data centers and telecom service providers are the most significant areas in the V-CPE market. The data generated by telecom companies, which is stored and retrieved from data centers, is huge. With the use of V-CPE solutions, telecom companies can easily transfer their business functions from one geographic location to another.
Professional services segment is expected to hold the largest market share in the V-CPE market and the current trend is expected to continue during the forecast period
Professional services include marketing, training & consulting, advertising, and policy & governance services. Professional services also comply with network-based regulatory standards of V-CPE technologies. The adoption of network virtualization among enterprises has increased the demand for Network Function Virtualization (NFV) technology, which ultimately increases the demand for V-CPE infrastructure.
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North America is expected to contribute the largest market share; Asia-Pacific (APAC) to grow at the highest rate
North America is expected to hold the largest market share and would dominate the V-CPE solutions and services market from 2016 to 2021, owing to the presence of a large number of V-CPE service providers offering tailored solutions to multiple application areas. North America has been witnessing a high adoption of V-CPE on a large scale as it has been an early adopter of network virtualization technologies. APAC offers potential growth opportunities for the Virtual Customer Premises Equipment (V-CPE) Market to grow, as countries in the region are investing heavily in the development of NFV and V-CPE technologies owing to growing adoption of software-defined technologies.
The major vendors in the V-CPE market include Cisco Systems, Inc., Hewlett Packard Enterprises (HPE), Juniper Networks, Inc., Brocade Communications Systems Inc., and IBM Corporation.
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