uCPE market to grow by USD 2,412.02 million from 2022 to 2027: The surge in digital transformation in business enterprises drives market growth - Technavio
NEW YORK, Aug. 16, 2023 /PRNewswire/ -- The uCPE Market is estimated to grow by USD 2,412.02 million during 2022-2027, growing at a CAGR of 21.29%. North America will account for 34% of the market's growth during the forecast period. The US is a key country for the uCPE market in North America. However, the market growth rate in this region will be slower than the growth of the market in APAC and Europe. The increasing adoption of cloud computing, 5G, SD-WAN, and infrastructure-as-a-service will drive market growth in North America during the forecast period. In addition, uCPE benefits telecom service providers by minimizing operational costs and simplifying operations through remote management capabilities. Moreover, it allows customers to modify existing services or order new ones on demand. In addition, the demand for uCPE is expected to increase by enterprises, as it reduces overall capital expenditure by reducing the need to buy purpose-built, vendor-specific hardware. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) - View Sample report
Major Drivers & Challenges-
The surge in digital transformation in business enterprises drives market growth. By using digital technology to streamline their business processes, enhance customer reach, reduce risks, and improve business efficiency, businesses transform their businesses. Also, to meet this kind of critical machine workload, enterprises are modernizing their data centers by offering Software Defined Solutions. Hence, such factors drive the growth of the market during the forecast period.
The high cost of deployment of uCPE challenges the growth of the market. In spite of the cost-saving benefits of uCPE solutions, there are still significant upfront costs associated with deploying these solutions. There may be ongoing costs associated with maintaining and upgrading the uCPE solutions over time, which may include the costs for licenses of the software, ongoing maintenance fees, and hardware upgrades or replacements as necessary. Hence, such factors challenge the growth of the market during the forecast period.
The increasing acceptance of cloud computing is an emerging uCPE market trend. The upsurge in the penetration and diffusion of the cloud phenomenon is a significant trend that affects the adoption and proliferation of uCPE solutions across verticals. This is because of its inherent cost-effectiveness and ease of management of cloud-based network virtualization solutions. Hence, such trends fuel the growth of the uCPE market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. - View Sample Report
The uCPE market report includes information on the product launches, sustainability, and prospects of leading vendors including Access Co. Ltd., Adtran Holdings Inc., Advantech Co. Ltd., AT and T Inc., AudioCodes Ltd., Axiomtek Co. Ltd., Cisco Systems Inc., Dell Technologies Inc., Ekinops SA, GTT Communications Inc., Huawei Technologies Co. Ltd., Intel Corp., Iricent Ltd., Juniper Networks Inc., Lanner Electronics Inc., Netfosys Information Technologies India Pvt. Ltd., RAD Data Communications Ltd., Sony Group Corp., Tata Sons Pvt. Ltd., and Versa Networks Inc.
The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.
This uCPE market report extensively covers market segmentation by end-user (enterprise and individual), deployment (on-premises and cloud-based), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
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