Virtualized Evolved Packet Core Market Share, Growth and Forecast Report, 2030

NEW YORK - July 19, 2024 - PRLog -- The vEPC market, valued at USD 9.9 billion in 2024, is projected to reach USD 27.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.8%.

This growth is driven by the increasing adoption of network function virtualization (NFV), a heightened focus on IoT and edge computing, the deployment of 4G LTE, rising mobile data traffic, and the implementation of standalone (SA) or non-standalone (NSA) 5G network services with enhanced speeds.

Among the components, the solutions category was the largest contributor to the market. This is due to mobile network operators (MNOs) increasingly recognizing the benefits of vEPC solutions, such as the virtualization of key components including the mobility management entity, home subscriber server, serving gateway, and packet data network gateway. These components enhance network efficiency, service quality, scalability, customer and business satisfaction, cost-effectiveness, and flexibility.

Conversely, the services category is expected to grow at the fastest CAGR of 20% in the coming years. This growth can be attributed to the rising adoption of vEPC solutions by various telecom companies to enhance services, meet the demands of mobile users, and adapt to rapidly evolving and expanding network requirements.

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The 5G network type category is anticipated to advance at a faster CAGR of 20% in the coming years, driven by the increasing demand for fast data services and the growing importance of adopting advanced technologies like IoT and cloud computing across various sectors.

Based on application, the IoT and M2M category was the largest contributor to the vEPC market, due to the presence of over 13 billion connected devices or IoT subscribers globally in 2022. This significant number reflects the substantial need for IoT-powered devices and gadgets, along with NB-IoT and Cat-M, and the growing number of IoT cellular subscribers as the technology gains acceptance across different sectors and among consumers.

The APAC region is expected to grow at the fastest rate of 25% in the coming years. This growth is attributed to the presence of leading MNOs, the increasing demand for tablets, smartphones, and other IoT-powered devices, and the rapid adoption of advanced 5G technology in the region.

With the rising adoption of NFV, the vEPC market is set to continue its growth trajectory in the coming years.