Virtualized Evolved Packet Core Market Size, Share, Growth Analysis, By Offering, By Solution, By Services, By Application, By Network, End User, Deployment Mode, By Region - Industry Forecast 2024-2031

Global Virtualized Evolved Packet Core Market size was valued at USD 5.7 billion in 2022 and is poised to grow from USD 7.4 billion in 2023 to USD 38.3 billion by 2031, growing at a CAGR of 22.8% during the forecast period (2024-2031).

The Global Virtualized Evolved Packet Core Market is witnessing robust growth, driven by its cloud-native and service-oriented architecture, which offers telecom operators a comprehensive array of features. This market is crucial for telcos as it aligns with the evolving demands of network infrastructures, effectively catering to their operational needs. The surge in mobile data traffic necessitates the implementation of virtualized evolving packet core solutions, which enhance throughput and alleviate network congestion, while optimizing resource use and boosting service quality. Moreover, advancements in cellular network technology, which promise increased data speeds and reduced latency, are pivotal in propelling the adoption of virtualized evolving packet core solutions, significantly shaping the future of telecommunications.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Virtualized Evolved Packet Core market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Virtualized Evolved Packet Core Market Segmental Analysis

Global Virtualized Evolved Packet Core Market is segmented by Offering, Solution, Services, Application, Network, End User, Deployment Mode and Region. Based on Offering, the market is segmented into Solutions, Services. Based on Solution, the market is segmented into MME, HSS S-GW, PDN-GW. Based on Services, the market is segmented into Professional Services, Consulting, Integration and Deployment, Training and Support, Managed Services. Based on Application, the market is segmented into LTE, VoLTE, IoT, M2M, MPM, MVNO. Based on Network, the market is segmented into 5G Network, 4G Network. Based on End User, the market is segmented into Telecom Operators, Enterprises. Based on Deployment Mode, the market is segmented into Cloud, On-premises. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Virtualized Evolved Packet Core Market

The Global Virtualized Evolved Packet Core market is significantly driven by the escalating mobile network data traffic, which is currently dominated by video content, accounting for 68% of all mobile data transmission. This surge in traffic can be attributed to the growing average data consumption per user and the increasing rate of smartphone subscriptions worldwide. Notably, India exemplifies this trend with the highest monthly smartphone data usage, averaging 15.9GB per user, showcasing remarkable traffic growth. Consequently, these dynamics underscore the necessity for a robust and scalable virtualized evolved packet core infrastructure to accommodate the expanding demand for mobile data services.

Restraints in the Global Virtualized Evolved Packet Core Market

The Global Virtualized Evolved Packet Core market faces notable restraints primarily stemming from escalating security concerns. As traditional legacy networks, including 2G, 3G, and 3.5G, intermingle with 4G/LTE and specialized industrial networks-encompassing sectors such as automotive, manufacturing, and IoT-complex and heterogeneous network structures emerge. This intricate configuration can lead to vulnerabilities, as varying security measures across different networks and devices may create weak points that could compromise overall network security. Consequently, the potential erosion of 4G/LTE security capabilities poses a significant challenge, thereby hindering the growth and advancement of the market.

Market Trends of the Global Virtualized Evolved Packet Core Market

The Global Virtualized Evolved Packet Core (vEPC) market is experiencing robust growth, driven by the escalating demand for Internet of Things (IoT) and Machine-to-Machine (M2M) services. As mobile operators increasingly implement vEPC within their IoT packet core networks, the flexibility and scalability offered by Network Functions Virtualization (NFV) solutions are becoming indispensable. This transition empowers operators to enhance connectivity for M2M devices and unlock new service opportunities for customers. Consequently, the vEPC market is poised for expansion as stakeholders seek to leverage advanced technologies that facilitate efficient, high-performance networks tailored to the evolving needs of IoT ecosystems.