Albany, NY -- (SBWIRE) -- 05/02/2018 -- The global virtual evolved packet core market is projected to grow at 36.3% CAGR during the forecast period 2018-2026. According to the report, the global market will continue to be influenced by a range of macroeconomic and industry-specific factors.
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. 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.
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.
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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.
North America accumulated highest revenue share in 2017 due to early adoption of 4G technology. With the rise in the usage of virtual evolved packet core, vEPC solutions and services providers in North America are collaborating with each other and focusing on offering various advanced technology solutions to the consumers. In July 2017, Mavenir Systems, Inc., a prominent provider of network transformation for Communication Service Providers (CSPs), acquired assets related with vEPC from Brocade Communications Systems, Inc., which is a storage area networking (SAN) and Internet protocol (IP) network solution provider. Furthermore, presence of telecom giants and various technological advancements are helping the North America market to generate significant revenues.
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The U.S. held highest market share in 2017 for North America and is estimated to grow at highest CAGR during the forecast period. In 2018, the U.S. government has planned to implement Citizens broadband radio service (CBRS) band for private operators and enterprises. Citizens broadband radio service enables enterprises to build their own private LTE networks. North America region is expected to grow at significant CAGR of 36.4% during the forecast period. In Europe, multiple players are establishing partnerships to deploy vEPC on large scale in order to deliver the service throughout the region. Europe region is likely to witness significant CAGR growth over the forecast period. The U.K. contributed highest share to entire Europe virtual evolved packet core market in 2017. In U.K., 4G LTE networks are being deployed across wide range of industries from agriculture and utilities to energy and healthcare.
The demand for virtual evolved packet core solutions in APAC is likely to remain concentrated in China and India, owing to a larger consumer base in the region. India is estimated to grow at substantial CAGR among the countries in Asia Pacific region during the forecast period owing to the increasing dependency on the internet and growing number of LTE subscribers. Majority of telecom operators and enterprises in the APAC region are still using traditional EPC solution, which is expected to shift towards vEPC solutions. In Middle East and Africa (MEA), market players are increasing their investments to expand their physical presence. GCC is expected to grow at significant CAGR during the forecast period owing to the growing adoption of IoT technology and M2M devices. Increasing IT spending and network infrastructure development in South America, especially in Brazil are driving the regional virtual evolved packet core market. Brazil is expected to hold the largest portion of revenue for the market in the region throughout the forecast period.
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The company profiling of key players profiled in the global virtual evolved packet core market includes company overview, major business strategies adopted, SWOT analysis and market revenues for year 2015 to 2017. The key players profiled in the global virtual evolved packet core market include Ericsson AB, Nokia Corporation, ZTE Corporation, Huawei Technologies Co., Ltd., Cisco Systems, Inc., Intel Corporation, NEC Corporation, Mavenir, Affirmed Networks and ng4T GmbH. Various players are establishing partnerships to deploy vEPC on large scale across the world in order to assist the telecom operators to cope with the traffic growth in an economical way.