The Virtualized Evolved Packet Core Market is projected to grow from USD 4.23 billion in 2024 to USD 21.12 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.23% during the forecast period (2024 - 2032). Additionally, the market size for Virtualized Evolved Packet Core was valued at USD 3.5 billion in 2023.
An increasing number of mobile LTE subscribers and the development of 5G infrastructure are the key market drivers enhancing the market growth.
Market CAGR for Virtualized Evolved Packet Core (vEPC) is driven by the rising development of 5G infrastructure. Numerous new technological developments have occurred, including 5G in the telecommunications sector. Technologies like IoT are prompting MNOs to construct 5G infrastructure due to increased data traffic. Faster data transfer and on-demand network service provisioning will be possible thanks to 5G. MNOs are therefore required to deploy vEPC to improve their networks so that radio resources can be used effectively and network capacity may be increased.
Additionally, capacity and network intelligence may be boosted with virtualized EPC to satisfy the growing need for cutting-edge mobile data applications. One or more main use cases for Virtualized Evolved Packet Core Systems include the Internet of Things (IoT), LTE, VoLTE, M2M, and VO Wi-Fi. Telecommunications businesses are also searching for more economical solutions due to the growing need for additional bandwidth to support mobile networks.
Furthermore, the rapid rise in the amount of data carried by cellular networks has been primarily caused by consumer demand for video and the move in business practices toward cloud services. The commercialization of 5G services in industries like private 5G and the availability of unlicensed and shared spectrum globally are expected to impact future trends in the vEPS industry. Thus, driving the Virtualized Evolved Packet Core (vEPC) market revenue.
The global Virtualized Evolved Packet Core (vEPC) market segmentation, based on component, includes solutions and services. The services segment dominated the market, accounting for maximum market revenue. Services play a significant role in adopting and integrating next-generation networking solutions in an organization’s operational environment. Because they primarily focus on optimizing business operations and improving the network of the organizations, services are seen as a significant component of the vEPC industry.
The global Virtualized Evolved Packet Core (vEPC) market segmentation, based on deployment, includes on-premise and on-cloud. The on-premise segment generated the most income due to the large scale and size of incumbent enterprises still relying on physical servers for their networking requirements.
The global Virtualized Evolved Packet Core (vEPC) market segmentation, based on applications, includes LTE, VOLTE, VOWiFi, IoT and M2M, and MPN & MVNO. IoT and M2M generated the most revenue. Several mobile operators have installed EPC in the IoT packet core network. VEPC solution providers are also preparing NFV solutions for the IoT cellular. It is simple for the operator to provide superior connections for M2M devices and explore innovative services for customers by adopting the vEPC solution in IoT core networks.
The global Virtualized Evolved Packet Core (vEPC) market segmentation, based on end-user, includes telecom operators and enterprises. The telecom operators have generated the maximum market revenue. Telecom operators in many countries have already started using virtualized evolved packet core solutions. The South Korean carrier SK Telecom has successfully implemented a virtualized evolving packet core system. Telecom companies in North America and Asia-Pacific have also applied the technology to boost network effectiveness.
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Virtualized Evolved Packet Core (vEPC) market area will dominate this market, owing to the presence of big telecom giants. In addition, the growing penetration of 5G and 6G infrastructure, research & development activities, and highly developed network connectivity will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Europe's Virtualized Evolved Packet Core (vEPC) market accounts for the second-largest market share due to the deployment of LTE and 5G-based network connectivity, smartphone penetration and research & development. Further, the German Virtualized Evolved Packet Core (vEPC) market held the largest market share, and the UK Virtualized Evolved Packet Core (vEPC) market was the fastest growing market in the European region.
The Asia-Pacific Virtualized Evolved Packet Core (vEPC) Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the growing acceptance of cloud computing and Internet of Things (IoT)-based applications. Moreover, China’s Virtualized Evolved Packet Core (vEPC) market held the largest market share, and the Indian Virtualized Evolved Packet Core (vEPC) market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Virtualized Evolved Packet Core (vEPC) market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Virtualized Evolved Packet Core (vEPC) industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global Virtualized Evolved Packet Core (vEPC) industry to benefit clients and increase the market sector. In recent years, the Virtualized Evolved Packet Core (vEPC) industry has offered some of the most significant advantages to technology. Major players in the Virtualized Evolved Packet Core (vEPC) market, including Nokia Corporation (Finland), Cisco System Inc. (US), Huawei Technologies Co. Ltd. (China), NEC Corporation (Japan), Ericsson AB (Sweden), SAMSUNG (South Korea), ZTE Corporation (China), Mitel Networks Corporation (US), Affirmed Networks (US), Athonet S.R.L.(Italy), and others, are attempting to increase market demand by investing in research and development operations.
Nokia Corporation is a multinational company that specializes in consumer electronics, information technology, and telecommunications. Nokia Corporation is also known as Nokia in Finnish and Swedish. The headquater of Nokia are situated in Espoo, Finland. The company was established in 1865. For instance: In September 2022, Nokia launched its newest Software-as-a-Service (SaaS) solution, Visualization, Automation, and Analytics (AVA) charging, intended to assist Communication Service Providers (CSPs) and enterprises in efficiency releasing new offerings for 5G and IoT usage cases. With its ‘Intelligence Everywhere’ method, Machine Learning (ML), AVA Charging leverages Artificial Intelligence (AI), Open APIs, no code configuration, multi-cloud orchestration and digital ecosystems to bring comprehensive capabilities.
Telefonaktiebolaget LM Ericcson, also known as Ericcson, is a global Swedish networking and telecommunications corporation headquartered in Stockholm. For telecom service providers and businesses, the company supplies software, infrastructure, and services in information and communications technology, and optical transport systems. Over 1, 00,000 individuals work for the corporation, which operates in over 180 nations. Over 57,000 awarded patents belong to Erricson. One of the pioneers in 5G, Ericsson has made important contributions to the growth of the telecom sector. For Instance: In February 2023, Ericsson and Econet will roll out 5G in Zimbave. Due to the cooperation, Econet will have access to Ericsson’s most recent Radio Access Network (RAN) and 5G Evolved Packet Core (EPC) solutions, which are much faster than 4G and will improve user experience and capacity.
Nokia Corporation (Finland)
Cisco System Inc. (US)
Huawei Technologies Co. Ltd. (China)
NEC Corporation (Japan)
Ericsson AB (Sweden)
SAMSUNG (South Korea)
ZTE Corporation (Chine)
Mitel Networks Corporation (US)
Affirmed Networks (US)
Athonet S.R.L. (Italy)
In February 2023, Intel Corporation and SK Telecom have announced the release of Intel Infrastructure Power Manager for 5G Core, which saves an average of 30% CPU power at runtime with built-in acceleration to meet critical performance, scaling and power requirements.
In June 2021, Nokia Corporation, in partnership with DISH, deployed the first standalone 5G core network on the public cloud using AWS. Network operations become streamlined when you deploy network on AWS; it is possible to quickly install new software and services and support integration for a legion of innovative use cases for customers.
In October 2022, to support the development of 5G ecosystems and advance 6G research in Europe, Smart Networks and Services Joint Undertaking (SNS JU) has chosen its initial portfolio of thirty-five research, innovation and trial projects. The objective is to create a world-class European supply chain for state-of-the-art 5G systems and expand Europe's technology capabilities in the area of 6G technologies under Horizon Europe through total funding for this new set of about €250 million.
In September 2022, Nokia released AVA Charging - Software as a Service (SaaS); this product will enable CSPs as well as enterprises to quickly commercialize new offerings for lot & 5 G use cases.
In June 2019, Mavenir began offering an alternative Virtual RAN aimed at ending the global mobile network supply oligopoly and is currently contesting several tenders/RFIs for mobile networks across the APAC region.
In May 2019, Vodafone Idea Limited will deploy the Ericsson cloud packet core to enhance network performance.VIL will benefit from Ericsson’s leading applications in the core network and Network Functions such as Ericsson virtual Evolved Packet Gateway (vEPG), Service-Aware Policy Controller (vSAPC) and Virtualization Infrastructure (NFVI) solution enabling the fast introduction of new services and providing full-service continuity.
In November 2017, Ericsson worked with Telefónica Chile to deploy its NFV solution, including vEPC, virtual Authentication Authorization and Accounting (AAA), Virtual IP Multimedia Subsystem (IMS) and NFVi infrastructure to virtualize their network function.
Virtualized Evolved Packet Core (vEPC) Market Segmentation
Solutions
Services
On-Premise
On-Cloud
LTE
VOLTE
VOWiFi
IoT and M2M
MPN and MVNO
Telecom Operators
Enterprises
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 3.5 Billion |
| Market Size 2024 | USD 4.23 Billion |
| Market Size 2032 | USD 21.12 Billion |
| Compound Annual Growth Rate (CAGR) | 22.23% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment, Application, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Nokia Corporation (Finland), Cisco System Inc. (US), Huawei Technologies Co. Ltd. (China), NEC Corporation (Japan), Ericsson AB (Sweden), SAMSUNG (South Korea), ZTE Corporation (China), Mitel Networks Corporation (US), Affirmed Networks (US), Athonet S.R.L. (Italy) |
| Key Market Opportunities | Increasing investment in the virtualized framework |
| Key Market Dynamics | The increasing number of mobile LTE subscriber Development of 5G infrastructure |
Virtualized Evolved Packet Core Market Highlights:
Frequently Asked Questions (FAQ) :
The global Virtualized Evolved Packet Core (vEPC) market size was valued at USD 3.5 Billion in 2023.
The global market is projected to grow at a CAGR of 21.12% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Nokia Corporation (Finland), Cisco System Inc. (US), Huawei Technolgoies Co. Ltd. (China), NEC Corporation (Japan), Ericsson AB (Sweden), SAMSUNG (South Korea), ZTE Corporation (China), Mitel Networks Corporation (US), Affirmed Networks (US), Athonet S.R.L. (Italy).
The service category dominated the market in 2023.
The on-premise had the largest share in the global market.
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