CHICAGO, June 28, 2023 /PRNewswire/ -- With elements like 5G network expansion, edge computing integration, network slicing for service differentiation, cloud-native transformation, automation, and security improvements, the future of the vEPC market is bright. As operators look for effective, flexible, and scalable network solutions to meet changing demands, collaboration, partnerships, and deployments tailored to certain industries will further contribute to their growth.
The global Virtualized Evolved Packet Core (vEPC) Market is expected to be worth USD 8.4 billion in 2023 and USD 19.9 billion by 2028, growing at a CAGR of 18.7% during the forecast period, according to a new report by MarketsandMarkets. The need for cost-effective and efficient network management solutions accelerates the growth of the vEPC market.
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305 - Tables
58 - Figures
286 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2023-2028 |
Base year considered | 2022 |
Forecast period | 2023-2028 |
Forecast units | Value (USD) Million/Billion |
Segments Covered | Offering, solutions, services, network, deployment model, end-user, application, and regions |
Region covered | North America, Europe, Asia Pacific, Middle East and Africa, and Latin America |
Companies covered | Nokia (Finland), Ericsson (Sweden), Cisco(US), Huawei (China), ZTE (China), Samsung (South Korea), Affirmed Networks(US), Mavenir(US), NEC(Japan), Athonet(Italy), Cumcore(Finland), Druid Software(Ireland), IPLook (China), Tech Mahindra (India), Parallel Wireless (US), Polaris Networks (US), Xingtera (US), Lemko (US), Tecore(US), and Telrad Networks (Israel). |
Services segment to grow at higher CAGR during the forecast period
The services segment is expected to grow significantly in the vEPC market during the forecast period. This can be attributed to the increasing demand for professional and managed services to support the deployment and operation of virtualized EPC solutions. Enterprises seek specialized services to ensure a smooth integration, customization, and optimization of vEPC systems within their network infrastructure. Service providers are focusing on offering comprehensive service packages, including consulting, implementation, maintenance, and support, to address the specific requirements of their clients. The growing adoption of vEPC across various industries, such as telecommunications, healthcare, and transportation, is driving the demand for services to enhance network performance, security, and scalability.
Cloud mode of deployment is expected to grow at higher CAGR during the forecast period
This can be attributed to the numerous advantages offered by cloud-based vEPC solutions, including scalability, flexibility, and cost-effectiveness. Enterprises are increasingly adopting cloud deployment models to leverage the benefits of virtualization and cloud computing in their network infrastructure. Cloud-based vEPC enables rapid deployment, easy management, and seamless scalability of network functions, allowing organizations to adapt to changing demands and optimize resource utilization. The cloud deployment model also facilitates centralized management and orchestration, simplifying network operations and enhancing agility. As the demand for efficient and agile network solutions continues to rise, the cloud deployment model is poised to play a pivotal role in driving the growth of the vEPC market.
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Asia Pacific region is expected to grow at higher CAGR during the forecast period
The growth of the region can be attributed to several factors, including the region's rapid adoption of advanced technologies, expanding mobile subscriber base, and the emergence of various industries. Countries such as China, Japan, South Korea, and India are experiencing a surge in demand for high-speed and reliable connectivity driven by the widespread use of smartphones, IoT devices, and digital services. Furthermore, supportive government initiatives and investments in 5G infrastructure development are fueling the expansion of the vEPC market in the region. With the increasing focus on digital transformation across industries and the need for efficient network management solutions, the Asia Pacific region presents significant opportunities for vEPC vendors and service providers to establish a strong presence and meet the growing demand for advanced communication networks.
Top Key Companies in Virtualized Evolved Packet Core (vEPC) Market:
The major players in the vEPC market are Nokia (Finland), Ericsson (Sweden), Cisco(US), Huawei (China), ZTE (China), Samsung (South Korea), Affirmed Networks(US), Mavenir(US), NEC(Japan), Athonet(Italy), Cumucore(Finland), Druid Software(Ireland), IPLook (China), Tech Mahindra (India), Parallel Wireless (US), Polaris Networks (US), Xingtera (US), Lemko (US), Tecore(US), and Telrad Networks (Israel).
Recent Developments
- October 2022 - To support the development of 5G ecosystems and advance 6G research in Europe, the Smart Networks and Services Joint Undertaking (SNS JU) has chosen its initial portfolio of 35 research, innovation, and trial projects. The goal is to create a world-class European supply chain for cutting-edge 5G systems and expand Europe's 6G technology capacities with total funding for this new portfolio of about €250 million under Horizon Europe.
- September 2022 - Nokia announced its Software-as-a-Service (SaaS), AVA Charging, to support CSPs and enterprises to quickly commercialize new offerings for 5G and IoT use cases.
- October 2021 - The company launched a new set of 5G solutions to enable the evolution of all frequency bands to 5G.
- May 2019 - Ericsson cloud packet core will be employed by Vodafone Idea Limited to improve network performance. Ericsson's major network applications and features, like its Virtualization Infrastructure (NFVI), Service-Aware Policy Controller (VSAPC), and Virtual Evolved Packet Gateway (VEG) solutions, which facilitate seamless business continuity and quick rollout of new services, will be advantageous to VIL.
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Virtualized Evolved Packet Core (vEPC) Market Advantages:
- vEPC eliminates the need for pricey hardware infrastructure by virtualizing the core network processes. Using common servers and virtualization technology lowers capital expenditure (CapEx), which helps operators save a lot of money.
- In order to adapt to changing demands, vEPC allows variable network capacity scalability. Through dynamic resource allocation based on traffic patterns, it enables operators to effectively manage peak loads. This virtue of scalability, which also ensures a better user experience, lowers the possibility of network congestion.
- With vEPC, network administrators can swiftly roll out new features and services without being constrained by the deployment of physical hardware. Reduced time-to-market for new products is made possible by the virtualized environment's quick service creation, testing, and deployment.
- The goal of NFV is to virtualize and consolidate network functions, and vEPC is a crucial part of it. Operators can take use of the larger advantages of NFV, such as streamlined network management, higher service agility, and improved resource utilisation, by embracing vEPC.
- Built-in redundancy and resilience features are offered by virtualization. The virtualized network services can be simply moved to another server or data centre in the event of hardware failure, resulting in the least amount of service interruption. This raises the availability and dependability of the network.
- Operators can effectively use server resources by dynamically allocating them based on demand thanks to vEPC. Flexibility improves resource utilisation, lowers power usage, and boosts overall operational efficiency.
- The hardware requirements for conventional EPC architectures are many and complicated. By combining fundamental network operations into a virtualized environment, vEPC streamlines network architecture. Operations are streamlined, network management is made easier, and the number of physical devices is decreased.
Report Objectives
- To determine and forecast the global vEPC market based on offering, solutions, services, network, deployment model, end user, application and regions from 2023 to 2028.
- To forecast the size of the market's segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Latin America, Middle East & Africa (MEA)
- To provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the vEPC market
- To study the complete value chain and related industry segments and perform a value chain analysis of the vEPC market landscape
- To strategically analyze macro and micromarkets with respect to individual growth trends, prospects, and contributions to the total vEPC market
- To analyze industry trends, regulatory landscape, and patents & innovations related to the vEPC market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the vEPC market
- To profile key players in the market and comprehensively analyze their market share/ranking and core competencies
- To track and analyze competitive developments, such as mergers and acquisitions, a new product launched and product developments, partnerships, agreements, and collaborations, business expansions, and Research & Development (R&D) activities, in the market
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