Northbrook, IL 60062 -- (SBWIRE) -- 07/04/2023 -- The global Virtualized Evolved Packet Core Market size is expected to be worth USD 8.4 billion in 2023 and 19.9 billion by 2028, growing at a CAGR of 18.7% during the forecast period, according to research report by MarketsandMarkets™. The need for cost-effective and efficient network management solutions accelerates the growth of the vEPC market.

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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.

Market Players

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).

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