The global virtual evolved packet core market(vEPC) to be worth $15,900 million by 2026 a stable CAGR of over 36.3% during forecast period of 2018 to 2026, according to a new report published by Transparency Market Research (TMR).
The vEPC market was valued around US$ 969.9 million in 2017.
Growing need for flexible and elastic networks, increasing smart phone penetration, rising number of LTE subscribers has increased the penetration and growth of virtual evolved packet core market globally. Increasing need for savings in capital expenditure (CapEx) and operational expenditure (OpEx), the adoption of virtual evolved packet core solution by enterprises is increasing.
The virtual evolved packet core market in North Americais expanding with a high potential to grow registering a CAGR above 36.0% on the backdrop of numerous advancements in networking industry such as 5G, LTE and VoLTE, rise in the usage of virtual evolved packet core and growing consumer demand for high speed data networks for reliable connectivity and mobility.
Growing need for flexible and elastic networks to drive market growth
Growing consumer demand for high speed data networks for reliable connectivity and mobility has increased the demand for virtual evolved packet core solutions. The numerous advancements in networking industry such as 5G, LTE and VoLTE are expected to boost the demand for virtual evolved packet core solutions. IT companies are launching services which involve the deployment of virtual evolved packet core to amplify the efficiency of the services.
The increase in adoption of advanced technologies has led to the emergence of a middle class segment with significant spending power. The key trends prevalent in the virtual evolved packet core market are joining forces with prominent telecom players, launch of services pertaining to vEPC and expansion of regional footprints.
Cloud segment to Remain Most Lucrative
Cloud segment continues to be the leading segment globally during the forecast period due to rising need to reduce the overall equipment costs. Furthermore, large number of enterprises are rapidly moving their data into cloud which has increased the growth of cloud segment across different regions of the world. Telecom operators are rapidly adopting virtual evolved packet core solutions in order to deliver faster customer service and improve collaboration with third-party software application vendors.
Solutions segment is expected to consistently dominate during the forecast period due to the increasing implementation of virtual evolved packet core solutions in order to cater the growing demand for high speed data networks. Services segment is projected to grow at highest CAGR of 36.4% over the forecast period from 2018 to 2026 as telecom operators are upgrading their existing virtual evolved packet core solutions to meet the changing demand of the end-customers. IoT and M2M segment is expected to grow at highest CAGR over the forecast period. Mobile operators are rapidly deploying vEPC in the IoT packet core network that enables operator to bring superior connectivity for M2M devices and explore new services for customers.
Hesham Siblini, CTO, Orange Egypt
Our network has seen a major spike in mobile data usage, so we needed a way to handle the different types of traffic. Openwave Mobility’s solution enables us to optimize our live streaming data, regardless of whether it is encrypted or not, which ultimately delivers a seamless experience for our subscribers.
Indranil Chatterjee, SVP of Products, Sales & Marketing, Openwave Mobility
Our exclusive survey in the Middle East found that video buffering is a major frustration, causing subscribers to abandon a video within just six seconds — and potentially driving them into the arms of competing mobile operators.
