Virtual Customer Premises Equipment (vCPE) Market worth $15.3 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 11, 2022 /PRNewswire/ -- Virtual Customer Premises Equipment (vCPE) Market size is expected to grow from USD 2.8 billion in 2022 to USD 15.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 40.2% during the forecast period, according to a new report by MarketsandMarkets™.
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Solutions/tools segment to grow at the highest market share during the forecast period
Virtual CPE providers offer vCPE solutions to manage, upgrade, and optimize the entire network infrastructure. The major network management solutions include network performance and monitoring; network configuration; cloud, virtual, and SDN monitoring; log and event management; and others (IP address management and VoIP monitoring). Network administrators can view the network statistics through graphs over web browsers or dashboards. vCPE solutions help network administrators monitor small as well as large network infrastructures. These tools ensure the running of the network without any outage. Hence, businesses invest huge CAPEX on network infrastructures to optimize and upgrade enterprise networks. SMEs benefit more from vCPE solutions in terms of adoption, owing to their features, functionalities, and low cost. vCPE play an important role in every line of business, such as SMEs and large enterprises. The solutions/tools segment is further divided into virtual switches, virtual routers, application & controller platform, security & compliance, and infrastructure management & orchestration.
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Security and Compliance is expected to grow at a highest market share during the forecast period
Security and compliance are the main concern for enterprises deploying vCPE solutions. Data flow during processing needs to be secured and comply with the related regulations. vCPE solution provides virtualized control over the entire network. This virtualized control reduces the threat to security by deploying various security technologies within the control plane. Major security technologies, such as Secure Sockets Layer Virtual Private Network (SSL VPN), firewall, transpor layer security, Internet Protocol Security (IPsec) encryption, Intrusion Detection System (IDS) and Intrusion Prevention System (IPS), and Remote Access Dial in User Service (RADIUS), are deployed on vCPE architecture to make the infrastructure more secure and effective. Companies are integrating vCPE solutions with the added benefit of securing data and are ensuring that it complies with the mandates related to the networking market.
North America region to record the highest market share in the Virtual Customer Premises Equipment Market
The North American region consists of developed countries which have structured networking, thus favoring the huge demand in the vCPE market. The top contributing countries to the vCPE market in North America include the US and Canada; the reason for the dominance of these countries is their established economies, which allows the investment in new technologies. Increasing usage of NFV and SDN among data centers and telecom companies and technological awareness among business verticals has led the vCPE market to transform across business verticals. The concept of network virtualization technology is popular in the networking field due to enterprising interest in reducing the maintenance cost of hardware systems and increasing the processing function. This region offers the most innovative and fastest services available through its network infrastructure.
Key and innovative vendors in the Virtual Customer Premises Equipment Market are Cisco (US), HPE (US), Juniper Networks (US), Broadcom (US), IBM (US), Arista Networks (US), Dell Corporation (US), Ericsson (Sweden), NEC Corporation (Japan), Intel (US), Wind River (US), RAD Data Communication (Israel), Huawei Technologies (China), Verizon (US), ADVA Optical Networking (Germany), Advantech (Taipei), Spirent Technologies (UK), Versa Networks (US), Anuta Networks (US), Parallel Wireless (US), Altiostar (US), NoviFlow (Canada), Cumucore (Finland), NFWare (US), netElastic Systems (US), VoerEirAB (Sweden), and Brian4net (Russia).
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