ALBANY, New York, Aug. 2, 2019 /PRNewswire/ -- The global virtual evolved packet core market is estimated to experience a robust growth due to several industry-centric and macroeconomic factors. According to a recent report published by Transparency Market Research (TMR), the virtual evolved packet core market is prognosticated to register an astral expansion with a CAGR of 36.3% during the forecast period from 2018 to 2026. The market clocked a valuation of nearly US$969.9 mn in 2017.
Rising number of people subscribing LTE services, increasing demand for elastic and flexible networks, rising penetration of cellphones and smart devices are some of the key factors benefiting the global virtual evolved packet core market. However, the ever-rising consumer base is not beneficial enough for the growth in revenue in the vEPC market. Thus, the telecom companies are indulging into business strategies which would enable them to increase the coverage and capacity, along with reduction in entire outlay on operations.
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Increasing Demand for High Speed data to Contribute in Market Growth
In addition, with the rising requirement for savings in operation expenditure (OpEx) and capital expenditure (CapEx), there has been a notable development in the growth of the global virtual evolved packet core market. The increase in buyer's demand regarding high data speed for dependable mobility and connectivity has fueled the development in virtual evolved packet core market in the coming years. In addition, the rapid developments in networking sector for example, VoLTE and LTE are anticipated to pump the global virtual evolved packet core market in future.
On the basis of deployment, the global market is bifurcated into on-premise and cloud. Among these, the cloud segment is anticipated to lead the virtual evolved packet core (vEPC) market in the forecast period. This is attributed to increasing demand in reduction of overall cost of equipment. Moreover, several companies are shifting their data on cloud platform that has propelled the growth of the mentioned segment across the various regions in the world. Telcom operators are also inculcating the virtual evolved packet core solutions to provide faster and better customer services and better collaboration with other-party software applications providers.
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North America to lead vEPC due to Collaboration among Players
Geographically, in 2017, North America region dominated the global virtual evolved packet core market, because of rising popularity of 4G technology. Due to increasing usage of vEPC, the service providers in the region are working with each other in collaboration to focus on providing several technological advancements for the consumers. Besides, the region is a headquarter for several key players across the globe. This helps in generating substantial revenue in the future, making the region sustain its leading position in the forecast period as well.
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Some of the leading players operated in the global virtual evolved packet core market are ng4T GmbH, ZTE Corporation, Affirmed Networks, Cisco Systems, Inc., Ericsson AB, and others. These lading players are indulging into collaboration and partnerships to install vEPC on a huge scale all over the globe. This is aimed to help telecom service providers to deal with traffic increase in a cost-effective way. For example, in North America, Mavenir Systems, Inc., in July 2017, a leading network transformation provider for Communication Service Providers (CSPs), took over the assets associated to vEPC from Brocade Communications Systems, Inc., an Internet protocol (IP) network and storage area networking (SAN) solution provider.
This information is encompassed in the report by TMR, titled, "Virtual Evolved Packet Core (vEPC) Market (Component - Solution, Service (Maintenance, Installation, Consulting); Deployment - Cloud and On - Premise; End Use - Telecom Providers, Enterprises; Application - LTE, IoT and M2M, Volte and VoWiFi, BWA, MPN and MVNO) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026."
Global Virtual Evolved Packet Core (vEPC) Market
- End User
- Asia Pacific
- Middle East and Africa
- South America
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