Virtualized Evolved Packet Core Market (2024-2031)
to reach $19.87 billion by 2031 at a CAGR of 19.3% from 2024 to 2031.
- Published
- Apr 2024
- Pages
- 270
- Format
- PDF + Excel
- Report ID
- MRICT - 104508
- Base year
- 2022
- 2031 · FORECAST
- $19.87B
- 2031
- $19.87B
- CAGR 2024–2031
- 19.3%
2022–2023 baseline · 2024–2031 forecast at 19.3% CAGR · hover a bar for the value
Key highlights
to reach $19.87 billion by 2031 at a CAGR of 19.3% from 2024 to 2031.
The IoT & M2M Segment to Register the Highest CAGR During the Forecast Period
The telecom operators segment is expected to account for the largest share of the virtualized evolved packet core market.
However, Asia-Pacific is expected to register the highest CAGR during the forecast period. The increasing number of mobile subscribers, the growing mobile data traffic, the rising adoption of network function virtualization solutions and cloud services, the high penetration of mobile devices and smartphones in developing countries, and the growing deployment of 5G-ready cloud core and Network Functions Virtualization Infrastructure (NFVI) solutions are expected to support the growth of this market.
In 2024, North America is expected to account for the largest share of the virtualized evolved packet core market.
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 270 |
| Format | |
| Forecast Period | 2024-2031 |
| Base Year | 2022 |
| CAGR | 19.3% |
| Estimated Market Size | $19.87 Billion by 2031 |
| Segments Covered | By Component · Solutions · Mobility Management Entity · Home Subscriber Server · Serving Gateway · Packet Data Network Gateway · Policy & Charging Rules Function · Services · Professional Services · Integration Services · Consulting Services · Training & Maintenance Services · Managed Services · By Application · Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO) · Long-term Evolution & Voice over Long-term Evolution (LTE & VoLTE) · Internet of Things & Machine to Machine (IoT & M2M) · By Deployment Mode · On-premise Deployments · Cloud-based Deployments · By End User · Telecom Operators · Enterprises · BFSI · Information Technology · Travel & Consumer · Media & Entertainment · Healthcare · Other Enterprises · Other End Users |
| Countries Covered | North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Netherlands, Norway, Sweden, RoE), Asia-Pacific (China, Japan, South Korea, India, Malaysia, Singapore, Australia & New Zealand, RoAPAC), Latin America (Mexico, Brazil, RoLATAM), and the Middle East & Africa (Saudi Arabia, UAE, Israel, RoMEA) |
| Key Companies Profiled | Cisco Systems, Inc. (U.S.), Telefonaktiebolaget Lm Ericsson SE (Sweden), Huawei Technologies Co., Ltd. (China), Samsung Electronics Co., Ltd. (South Korea), Nokia Corporation (Finland), Affirmed Networks (a subsidiary of Microsoft Corporation) (U.S.), Mavenir Systems, Inc. (U.S.), ZTE Corporation (China), F5 Inc. (U.S.), NEC Corporation (Japan), IPLOOK Networks (Hong Kong) Co., Limited (Hong Kong), Parallel Wireless, Inc. (U.S.), Polaris Networks (a subsidiary of Motorola Solutions, Inc.) (U.S.), Athonet S.r.l. (a subsidiary of Hewlett Packard Enterprise) (Italy), Intel Corporation (U.S.), Tecore Networks (U.S.), Lemko Corporation (U.S.), and Metaswitch Networks Ltd (a subsidiary of Microsoft Corporation) (U.K.) |
Report overview
Segments covered: component, application, deployment mode, end user. Regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
The growth of the virtualized evolved packet core market is driven by the significant increase in mobile data traffic volumes and the rising demand for high-speed data services. However, the data security risks associated with virtualized evolved packet core infrastructure restrain the growth of this market. Furthermore, increasing investments in 5G technology, the rising adoption of cloud-native 5G core solutions, and the growing adoption of IoT technology are expected to generate growth opportunities for the players operating in this market. However, the reliability of virtualized evolved packet core (vEPC) solutions and misconceptions and a lack of knowledge regarding vEPC solutions are major challenges impacting market growth. Additionally, the integration of edge computing with virtualized evolved packet core technology is a prominent trend in the vEPC market.
Report infographic
Market dynamics
1 factors across 1 forceThe Rising Adoption of Cloud-native 5G Core Solutions Expected to Accelerate Market Growth
The trend of implementing cloud-native 5G core technology is on the rise and likely to continue in the coming years. Cloud-native architecture is at the heart of the new 5G core technology, which utilizes Cloud-native Network Functions (CNF). Cloud-native 5G core technology empowers organizations to build and run scalable applications in public, private, and hybrid clouds. Also, it delivers ultra-reliable connectivity and low-latency performance, which are critical to the success of the next phase of Industry 4.0. Also, the telecom industry is incorporating New Radio (NR) technology and the new standardized 5G core based on cloud-native Service-based Architecture (SBA). Market players are focusing on partnerships to offer advanced solutions in this market. For instance, in 2021, Google Cloud (U.S.) and Nokia Corporation (Finland) partnered to develop cloud-native 5G core solutions for communication service providers and enterprise customers. The cloud-native 5G core solution enhances voice services, automation & orchestration, operations & management, and security, improving the customer experience. The adoption of cloud-native 5G core solutions is expected to gain momentum over the forecast period as these solutions offer improved performance and help gain better business insights. These factors are expected to accelerate the growth of the vEPC market, generating opportunities for market stakeholders.
Table of contents
12 chapters · 129 sections · 270 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Application | — | Internet of Things & Machine |
| By End User | Telecom operators | — |
By Application
- The IoT & M2M Segment to Register the Highest CAGR During the Forecast Period
- The Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO) segment is expected to account for the largest share of the virtualized evolved packet core market.
- However, the Internet of Things & Machine to Machine (IoT & M2M) segment is expected to register the highest CAGR during the forecast period.
- The increasing need for remote monitoring of devices, the growing demand for autonomous decision-making and actions based on data analysis without human intervention, the increasing need to monitor and control real-world objects, such as industrial equipment, light switches, thermostats, sensors and actuators, and the rising adoption of IoT & M2M for remote access to industrial assets and their data streams are expected to support the growth of this segment.
By End User
- The telecom operators segment is expected to account for the largest share of the virtualized evolved packet core market.
- Also, this segment is expected to register the highest CAGR during the forecast period.
- The increasing adoption of vEPC solutions among telecom operators to improve latency issues and enhance IT agility, telecom operators’ rising need to offer better speeds and bandwidth connectivity and reliable application services, and the increasing need to reduce operational expenditure (OPEX) and capital expenditure (CAPEX) in the telecom sector are expected to support the growth of this segment.
Geographic analysis
Asia-Pacific
Fastest growthHowever, Asia-Pacific is expected to register the highest CAGR during the forecast period. The increasing number of mobile subscribers, the growing mobile data traffic, the rising adoption of network function virtualization solutions and cloud services, the high penetration of mobile devices and smartphones in developing countries, and the growing deployment of 5G-ready cloud core and Network Functions Virtualization Infrastructure (NFVI) solutions are expected to support the growth of this market. Asia-Pacific to be the Fastest-growing Regional Market
North America
Largest shareIn 2024, North America is expected to account for the largest share of the virtualized evolved packet core market.
Competitive landscape
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants during the past 3 to 4 years. The key players operating in the virtualized evolved packet core market are Cisco Systems, Inc. (U.S.), Telefonaktiebolaget Lm Ericsson SE (Sweden), Huawei Technologies Co., Ltd. (China), Samsung Electronics Co., Ltd. (South Korea), Nokia Corporation (Finland), Affirmed Networks (a subsidiary of Microsoft Corporation) (U.S.), Mavenir Systems, Inc. (U.S.), ZTE Corporation (China), F5 Inc. (U.S.), NEC Corporation (Japan), IPLOOK Networks (Hong Kong) Co., Limited (Hong Kong), Parallel Wireless, Inc. (U.S.), Polaris Networks (a subsidiary of Motorola Solutions, Inc.) (U.S.), Athonet S.r.l. (a subsidiary of Hewlett Packard Enterprise) (Italy), Intel Corporation (U.S.), Tecore Networks (U.S.), Lemko Corporation (U.S.), and Metaswitch Networks Ltd (a subsidiary of Microsoft Corporation) (U.K.).
- Cisco Systems, Inc. (U.S.)
- Telefonaktiebolaget Lm Ericsson SE · Sweden
- Huawei Technologies Co., Ltd. · China
- Samsung Electronics Co., Ltd. · South Korea
- Nokia Corporation · Finland
- Mavenir Systems, Inc. (U.S.)
- ZTE Corporation · China
- F5 Inc. (U.S.)
- NEC Corporation · Japan
- IPLOOK Networks (Hong Kong) Co., Limited · Hong Kong
- Parallel Wireless, Inc. (U.S.)
- Intel Corporation (U.S.)
- Tecore Networks (U.S.)
- Lemko Corporation (U.S.)
Frequently asked questions
The virtualized evolved packet core market is projected to reach $19.87 billion by 2031, at a CAGR of 19.3% during the forecast period.
Cite this report
Meticulous Research. (2024). Virtualized Evolved Packet Core Market - Global Opportunity Analysis and Industry Forecast (2024-2031) (Report No. MRICT - 104508). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/virtualized-evolved-packet-core-market-5201