Virtualized Evolved Packet Core (vEPC) Market to grow by USD 72,902.49 million from 2022 to 2027; The rising use of multimedia services to boost growth-Technavio
NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The virtualized evolved packet core (vEPC) market size is expected to grow by USD 72,902.49 million from 2022 to 2027, progressing at a CAGR of 59.5% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. North America is estimated to account for 36% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The vEPC market in North America is experiencing significant growth due to several factors, including a well-developed telecommunications infrastructure and widespread mobile network usage. The rising adoption of 4G and 5G networks, along with the increasing demand for efficient mobile data management and network virtualization, is also propelling the market in the region. Major technology vendors and telecommunication service providers are among the key players in this market. The growing need for advanced mobile network infrastructure and virtualization technologies is driving the demand for virtualized evolved packet core solutions in North America. With the continuous adoption of 4G and 5G networks and the increasing demand for mobile data services, the vEPC market in North America is expected to witness further growth during the forecast period. For more insights on the market share of various regions- Download sample report in MINUTES
Virtualized Evolved Packet Core (vEPC) Market: Rising Use of multimedia services to drive growth
The rising use of multimedia services is a major factor notably driving market growth. The use of multimedia services, which includes watching, reading, streaming, and posting media content, has witnessed a significant increase. In 2022, people spent an average of 147 minutes per day on social media, a substantial 63% increase from 2012. The accessibility of multimedia services on mobile devices and the growing availability of on-demand content contribute to this trend. With approximately 64.4% of the global population having Internet access in 2022, the consumption of multimedia services continues to surge, leading to a rise in mobile data traffic. As a result, network operators are adopting vEPC to expand their bandwidth and offer better LTE services for smartphones. The increasing use of multimedia services is expected to be a driving force behind the growth of the global vEPC market during the forecast period.
Virtualized Evolved Packet Core (vEPC) Market: Deployment of 5G Infrastructure
The deployment of 5G infrastructure is an emerging market trend. In recent times, the telecommunication industry has experienced significant technological advancements, with 5G being one of the major breakthroughs. The growing data traffic, fueled by the adoption of technologies like the Internet of Things (IoT), has motivated Mobile Network Operators (MNOs) to deploy 5G infrastructure. Within the architecture of 5G networks, software-defined air interfaces play a crucial role. This next-generation technology promises faster data transfer rates and the ability to provide network services on demand. To efficiently manage radio resources and enhance network capacity, MNOs worldwide are expected to implement virtualized Evolved Packet Core (vEPC). For instance, Equinix Inc. expanded its Dallas Infomart Data Center campus, unveiling a new International Business Exchange data center and launching a 5G and Edge Proof of Concept Center (POCC) in June 2020. These developments are anticipated to drive the growth of the global vEPC market throughout the forecast period.
To know about more drivers, trends along with challenges - Download a sample now!
Some of the key Virtualized Evolved Packet Core (vEPC) Market Players:
The virtualized evolved packet core (vEPC) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Athonet Srl, Cassava Technologies, Cisco Systems Inc., Cumucore Oy, Druid Software, Huawei Technologies Co. Ltd., International Business Machines Corp., IPLOOK Technologies, Mavenir Systems Inc., Microsoft Corp., Mitel Networks Corp., Motorola Solutions Inc., NEC Corp., Nokia Corp., Parallel Wireless Inc., Samsung Electronics Co. Ltd., Tech Mahindra Ltd., Telefonaktiebolaget LM Ericsson, Twilio Inc., and ZTE Corp.
What's New? -
Virtualized Evolved Packet Core (vEPC) Market: Segmentation Analysis
This virtualized evolved packet core market report extensively covers market segmentation by component (solutions and services), application (LTE/VoLTE/ VoWiFi, MPN and MVNO, IoT and M2M, and BWA), and geography (North America, APAC, Europe, Middle East and Africa, and South America).
For additional information on the market contribution of each segment - Grab an Exclusive Sample Report
Gain instant access to 17,000+ market research reports.
The visual content market share is expected to increase by USD 1.4 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.9%. This report extensively covers visual content market segmentations by product (stock /images and stock video), application (editorial and commercial), license model (RF and RM), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The growing digital marketing is a major factor driving the global visual content market share growth.
The cognitive media solutions market share is expected to increase by USD 4.49 billion from 2021 to 2026, at a CAGR of 27.14%. This report extensively covers cognitive media solutions market segmentations by end-user (SME and large enterprises) and geography (North America, Europe, APAC, Middle East and Africa, and South America). Digital transformation is one of the factors driving the cognitive media solutions market growth.
Table of contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View original content to download multimedia:https://www.prnewswire.com/news-releases/virtualized-evolved-packet-core-vepc-market-to-grow-by-usd-72-902-49-million-from-2022-to-2027-the-rising-use-of-multimedia-services-to-boost-growth-technavio-301897120.html
Marketing & Sales: Where Does GenAI Fit In?
IDEA Showcase Startup Pitches & Reception