Meticulous Research®—a leading global market research company, published a research report titled, ‘Virtualized Evolved Packet Core Market by Component (Solutions, Services), Application (LTE, VoLTE, IoT & M2M, MPN & MVNO), Deployment Mode (On-premise, Cloud), End User (Telecom, Enterprises), and Geography - Global Forecast to 2031.’
According to the latest publication from Meticulous Research®, the virtualized evolved packet core (vEPC) market is projected to reach $19.87 billion by 2031, growing at a CAGR of 19.3% from 2024 to 2031. This growth is driven by the significant increase in mobile data traffic volumes and the rising demand for high-speed data services. However, data security risks associated with vEPC infrastructure pose challenges to market growth. Additionally, increasing investments in 5G technology, the rising adoption of cloud-native 5G core solutions, and the growing use of IoT technology present substantial growth opportunities for market players. Challenges such as the reliability of vEPC solutions and misconceptions about them remain, while the integration of edge computing with vEPC technology is emerging as a prominent trend.

Market Segmentation
By Component:
Solutions and Services: In 2024, the solutions segment is expected to account for the larger share of the market, driven by the need to reduce OPEX and CAPEX, increasing mobile data traffic, and the benefits of vEPC, including agility, flexibility, scalability, and low-latency delivery. For instance, in December 2022, T-Mobile USA, Inc. collaborated with Cisco Systems, Inc. to launch a cloud-native converged core gateway, enhancing performance by over 10% in speed and latency. The services segment is expected to register the higher CAGR due to the growing need for vEPC consulting, solution development, and maintenance.
By Application:
MPN & MVNO, LTE & VoLTE, and IoT & M2M: In 2024, the MPN & MVNO segment is expected to hold the largest share, attributed to the increasing penetration of mobile devices, rising demand for low-cost mobile services, and high-speed internet connectivity. The IoT & M2M segment is expected to register the highest CAGR, driven by the need for remote monitoring of devices, autonomous decision-making, and control of real-world objects.
By Deployment Mode:
On-Premise and Cloud-Based Deployments: In 2024, the on-premise deployments segment is expected to account for the larger share due to large enterprises' preference for on-premise vEPC solutions for greater control. The cloud-based deployments segment is expected to register the higher CAGR due to benefits like easy maintenance, cost-effectiveness, scalability, and the growing demand for cloud-based vEPC.
By End User:
Telecom Operators, Enterprises, and Others: In 2024, the telecom operators segment is expected to hold the largest share, driven by the adoption of vEPC solutions to improve latency, IT agility, speed, and bandwidth connectivity. This segment is also expected to register the highest CAGR, supported by initiatives to reduce OPEX and CAPEX.
Geographical Analysis
North America: Expected to hold the largest market share in 2024, driven by the adoption of vEPC solutions to enhance network infrastructure, the proliferation of advanced networking technologies, and government support for 5G infrastructure development. For instance, in December 2021, Ericsson partnered with Nex-Tech Wireless to launch 5G capabilities in Kansas.
Asia-Pacific: Expected to register the highest CAGR, driven by increasing mobile subscribers, growing mobile data traffic, adoption of network function virtualization solutions, and the deployment of 5G-ready cloud core solutions. For example, in August 2021, Asia-Pacific Telecom Co Ltd selected Ericsson to modernize Taiwan's LTE network with 5G NSA technology.

Key Players
Key players in the virtualized evolved packet core market include Cisco Systems, Inc. (U.S.), Telefonaktiebolaget Lm Ericsson SE (Sweden), Huawei Technologies Co., Ltd. (China), Samsung Electronics Co., Ltd. (South Korea), Nokia Corporation (Finland), Affirmed Networks (a subsidiary of Microsoft Corporation) (U.S.), Mavenir Systems, Inc. (U.S.), ZTE Corporation (China), F5 Inc. (U.S.), NEC Corporation (Japan), IPLOOK Networks Co., Limited (Hong Kong), Parallel Wireless, Inc. (U.S.), Polaris Networks (a subsidiary of Motorola Solutions, Inc.) (U.S.), Athonet S.r.l. (a subsidiary of Hewlett Packard Enterprise) (Italy), Intel Corporation (U.S.), Tecore Networks (U.S.), Lemko Corporation (U.S.), and Metaswitch Networks Ltd (a subsidiary of Microsoft Corporation) (U.K.).
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Key Questions Answered in the Report:
• Which are the high-growth market segments in terms of component, application, deployment mode, and end user?
• What is the historical market size for the global virtualized evolved packet core market?
• What are the market forecasts and estimates for 2024–2031?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global virtualized evolved packet core market?
• Who are the major players in the global virtualized evolved packet core market, and what are their market shares?
• What is the competitive landscape like?
• What are the recent developments in the global virtualized evolved packet core market?
• What are the different strategies adopted by major market players?
• What are the trends and high-growth countries?
• Who are the local emerging players in the global virtualized evolved packet core market, and how do they compete with the other players?
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