Meticulous Research® forecasts rapid growth in the virtualized evolved packet core market as organizations embrace cloud-native solutions and IoT technology.

The global virtualized evolved packet core (vEPC) market is projected to exceed $19.87 billion by 2031, growing at a compound annual growth rate (CAGR) of 19.3% from 2024 to 2031, according to the latest publication by Meticulous Research®. The expanding market is driven by a surge in mobile data traffic, an increasing demand for high-speed data services, and growing investments in next-generation 5G technology.

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Key Market Drivers
The robust growth in mobile data volumes and the transition towards high-speed data services are major forces propelling the expansion of the vEPC market. Additionally, the increasing adoption of cloud-native 5G core solutions and the integration of IoT technologies are expected to unlock significant opportunities for market participants.

Despite these growth factors, the market faces certain challenges. Data security concerns surrounding virtualized infrastructures and a lack of awareness about the benefits of vEPC solutions remain key restraining factors. Moreover, the reliability of vEPC solutions is also a critical challenge that could impact the market’s future trajectory.

Segmentation Highlights
The virtualized evolved packet core market is segmented by component, application, deployment mode, end user, and geography.

• By Component: The solutions segment is expected to dominate the market in 2024, accounting for the largest share, driven by the need for agility, flexibility, and cost-efficiency in managing high mobile data volumes. Companies are increasingly collaborating to accelerate 5G and IoT applications, enhancing network performance. For example, in December 2022, T-Mobile USA partnered with Cisco Systems to launch the world's largest cloud-native converged core gateway, boosting both speed and latency for 5G and 4G customers by over 10%.
The services segment is poised to experience the highest growth rate, fueled by the increasing demand for consulting, integration, and managed services as more organizations seek comprehensive vEPC solutions.
• By Application: In 2024, the Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO) segment is anticipated to hold the largest share, thanks to the growing penetration of mobile devices and the rising demand for high-speed internet and mobile services. The IoT & Machine-to-Machine (M2M) segment is projected to exhibit the highest growth, as businesses increasingly rely on IoT for remote monitoring and autonomous data-driven decision-making.

• By Deployment Mode: On-premise deployments are expected to maintain a dominant position due to their greater control and security advantages, particularly for large enterprises. However, cloud-based deployments are projected to grow at a faster pace due to their scalability, cost-efficiency, and flexibility.

• By End User: Telecom operators are set to represent the largest share in 2024, driven by the need to enhance network performance, reduce OPEX and CAPEX, and address latency issues. The demand for vEPC solutions in the telecom sector continues to rise as providers focus on delivering superior speed, bandwidth, and connectivity.

Regional Analysis
North America is expected to lead the global vEPC market in 2024, accounting for the largest share, due to the region's advanced telecom infrastructure, rapid adoption of 5G technology, and government support for developing cutting-edge networking solutions. The region also benefits from numerous partnerships aimed at launching 5G capabilities, as seen in the collaboration between Telefonaktiebolaget Lm Ericsson SE and Nex-Tech Wireless to support 5G NSA networks in rural Kansas.

Asia-Pacific is forecasted to experience the highest CAGR during the forecast period. The region’s growth is driven by a rising number of mobile subscribers, increasing data traffic, and widespread adoption of network function virtualization and cloud services. The region is a strategic focus for several leading market players, including Asia-Pacific Telecom, which partnered with Ericsson to modernize Taiwan’s LTE network.

Key Market Players
Prominent companies shaping the vEPC 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)
• Mavenir Systems, Inc. (U.S.)
• NEC Corporation (Japan)
• ZTE Corporation (China)
• Intel Corporation (U.S.)
• Metaswitch Networks Ltd (U.K.)
These players are continuously innovating to meet the rising demand for scalable, flexible, and secure virtualized packet core solutions.

Future Outlook
With the continued proliferation of 5G technology, increasing reliance on IoT, and rising investments in cloud-native solutions, the virtualized evolved packet core market is expected to see rapid growth through 2031. However, addressing challenges around data security, reliability, and education on vEPC solutions will be crucial to unlocking the full potential of this market.

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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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