ID: MRFR/ICT/1066-HCR | 110 Pages | Published By Shubham Munde on March 2023
Virtual CPE Market size is expected to cross USD 21.73 Billion by 2030 at a CAGR of 31.47% during the forecast period of 2020-2030
Virtual CPE Market size is expected to cross USD 21.73 Billion by 2030 at a CAGR of 31.47% during the forecast period of 2020-2030. As per the old method of information delivery and network services used to take place through mediums like hardware devices. But with the growing popularity of Virtual CPE Market Trends, new mediums have evolved nowadays. In, virtual customer premise equipment, one does not use any specific hardware. In this equipment, the advanced software and virtualization tools are replicating services such as routing, new upgraded security in the firewall, and also emerging virtual private network. Whether big or medium enterprises, they are heavily taking advantage from virtualization as it has improved the delivery of network service, allows for affordable remote connectivity, and tends to have very low maintenance costs. Many enterprises are also taking advantage from the network traffic load distribution.
Another major driving factor that has improved Virtual CPE Market Share for the virtual customer premise equipment is the quick adoption of virtual CPE network infrastructure, higher adoption of internet technologies and growing requirement of enterprise mobility market among others. Apart from different driving factors, the want of technical expertise and peril to data security are some of the factors which are blocking the growth of the virtual consumer premise equipment market.
As per the Virtual CPE Market Report, the COVID 19 has impacted the world's market. The COVID 19 has grieved 215 countries. To combat the negative effects countries lead lockdown which has adversely affected the Virtual CPE Market. The pandemic has made a positive impact on the Virtual CPE Market segment. The COVID-19 pandemic has touched every segment of society, including individuals and enterprises. The internet ecosystem has played an important role here. Due to the negative effects of the pandemic, the dependency of business on the internet has increased significantly. Information, finance and insurance, medical industry and social assistance, retail trade, manufacturing industry, and utilities among others, are starting to highly depend on the internet to provide essential services to consumers,
The companies are moving toward the private cloud to take the advantage of the benefits, such as security and privacy, efficiency, and customization. The ratification of virtual modern routers through the protected private cloud can support organizations to adequately arrange their network while lowering the cost related to the administration of the virtual router infrastructure. Moreover, the distribution of virtual routers via the private cloud provides a cost-effective way, thereby assisting IT teams in effectively managing the organizations’ whole network.
Virtual CPE is a popular medium to distribute network services such as virtual private network connectivity, firewall security, and routing to organizations with the guide of software apart from dedicated hardware devices. The Virtual CPE Market Report shows a positive turn. The global market is projected to earn a revenue of USD 2600 million at a 27% CAGR over the estimated period (2016-2022), with the help of virtual CPE, providers can assist in reducing as well as quacking service delivery, arranging and managing devices remotely, thereby letting customers in adjusting existing services or making orders for new services on demand. It enables better physical networking infrastructure that can be altered to shareable virtual resources. Virtual CPE can be accessed and managed from anywhere, no need to use any hardware. Organizations are taking advantages primarily of virtual CPE as this amplifies the delivery of network services, requires minimal maintenance, such as increasing adoption of virtual CPE network infrastructure, rising need of enterprise mobility market, thriving adoption of internet technologies, increasing need for mobility, different traffic patterns, and better and less complexity of networks. On the other hand, factors like a threat to data security, absence of technical expertise, and lesser knowledge expertise are factors that may hamper the virtual CPE market growth over the forecast period.
Threat intelligence is used in most of companies to combat outside threats that are detrimental to the company's security and intelligence. Protection of company data is highly essential, for that Intelligent Threat Security Analysis is required. The international threat intelligence market report by Market Research Future (MRFR) shows the pertinent data on upcoming spaces and hurdles multiplied with growth engines which can empower the industry for the time period of 2018 to 2023 (forecast period). The uncertainty of the COVID-19 virus and its influence on the industry is briefly explained by the industry people.
The world of the internet is so dynamic, a rising number of cyberattacks have also forced distrust among countries and challenges enforcing cybercrime legislation, which makes it tough to apply policies in an effective manner. To avoid cyber-attacks, governments should rapidly modernize legislation and partner with associated agencies. In addition, a number of countries must join hands together and create alliances to contest cyber threats that make a global impact. These partnerships should cohesively work to frame rules to raises concerns related to cybersecurity in the industrial ecosystem. The Virtual CPE Market Size is growing in spite of all the drawbacks.
The primary Virtual CPE Market Report claims to have a USD 2600 million in 2020 at a Compound Annual Growth Rate (CAGR) of 27%. The demand for this concept has risen because companies are conscious now. The Asian and North American countries are focussing to expand the production to meet the targets and deal with innovative technologies effectively.
On the ground of services, the market is divided into professional service and managed service. As per the solution, the market is subdivided into security and compliance, virtual equipment solutions, vast infrastructure management, and others. On the grounds of deployment, the market is divided into the classic CPE model and the cloud-hosted CPE model. Again, based on the concept of the application, the market is divided into residential applications and enterprise applications. On the division of the region, the market is divided into North America, Europe, Asia Pacific, and the rest of the world.
Virtual Router Market, By Type
Virtual Router Market, By End-User
By Sales Channel
Companies are creating new avenues and this concept of Virtual CPE Market is gaining momentum. The processes are dynamic now, so the concept of a Virtual CPE Market is evolving every day. To meet the supply chain and global technology services criteria the companies are getting agreement to grow together.
The major players of the industry only focus on cost reduction methods to optimize the benefits of the processes. The concept's popularity is growing immensely. There have been global mergers and acquisitions among the major players, where the business entities project to bolster their reach to their consumers.
Depending on the region, the virtual CPE market report shows major growth events and the latest trends across the Asia Pacific (APAC), Europe, North America, and the Middle East, and Africa. Of these, North America is leading over the forecast period. The US is the major contributor here, due to a developed global technological market. Moreover, the better adoption of virtual CPEs in companies is also directing the market growth. The virtual CPE market in Europe will occupy the second-largest share in the market over the estimated period. This is due to the growing deployment of modern virtual CPE features. The virtual CPE market in the APAC region is projected to increase at the fastest pace over the estimated period. This is because of the increasing adoption of virtual CPE solutions here due to the rising commitment for cloud-based and enterprise mobility solutions and the growing expansion of enterprises.
|Market Size||USD 21.73 Billion (2030)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Deployment, by Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Intel Corporation (U.S.), Qosmos (France), AT&T, Inc (U.S.), NEC Corporation (Japan), Orange Business Services (The Netherlands), Verizon Wireless (U.S.), Cisco Systems, Inc (U.S.), Ericsson AB (Sweden), International Business Machines, Corporation (U.S.), Dell, Inc (U.S.).|
|Key Market Opportunities||Virtual CPE is a popular medium to distribute network services such as virtual private network connectivity, firewall security, and routing to organizations with the guide of software apart from dedicated hardware devices.|
|Key Market Drivers||The major driving factor that has improved Virtual CPE Market Share for the virtual customer premise equipment is the quick adoption of virtual CPE network infrastructure, higher adoption of internet technologies and growing requirement of enterprise mobility market among others.|
USD 21.73 Billion by 2030
North America and the Asia Pacific
To have an expected CAGR would be 31.47% during the forecast period.