Technavio analysts forecast the global virtualized evolved packet core (vEPC) market to grow at a CAGR of more than 53% during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio forecasts the global virtualized evolved packet core (vEPC) market to grow at a CAGR of more than 53% by 2022. (Graphic: Business Wire)
Deployment of 5G infrastructure is one of the major trends being witnessed in the global virtualized evolved packet core (vEPC) market 2018-2022. There have been several advances in technology such as 5G in the telecommunication industry. Increasing data traffic due to the use of technologies such as IoT is encouraging MNOs to deploy 5G infrastructure. 5G will enable faster data transfer and provisioning of network services on demand. Thus, MNOs across the world are expected to implement vEPC to enhance their networks to efficiently utilize radio resources and increase their network capacity.
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According to Technavio analysts, one of the key factors contributing to the growth of the global virtualized evolved packet core (vEPC) market is the rising use of multimedia services:
Global virtualized evolved packet core (vEPC) market: Rising use of multimedia services
Watching, reading, streaming and posting media content refer to the use of multimedia services. The use of multimedia services is rising rapidly due to the availability of access to multimedia services on mobile devices and the rising volume of on-demand content due to the availability of digital media. The rising use of multimedia services increases mobile data traffic, which requires network operators to expand their bandwidth. Thus, the rising use of multimedia services will drive the growth of the global vEPC market during the forecast period.
According to a senior analyst at Technavio, “The use of smartphones enables people to access their preferred multimedia services. In 2017, on average, a person spent 31.6% of a day using multimedia services and in 2018, 5.3% of the global population is expected to have access to the internet, and eight out of every 10 internet users will use social media. Thus, Intel recently introduced the Intel Xeon processor, which is preconfigured with vEPC to add VMC capabilities to deliver services to mobile subscribers.”
Global virtualized evolved packet core (vEPC) market: Segmentation analysis
The global virtualized evolved packet core (vEPC) market research report provides market segmentation by the application (LTE, VoLTE, VoWiFi, MPN, MVNO, IoT, M2M, and BWA) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for more than 46% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the rising use of multimedia services and the increasing demand for VoLTE.
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