Virtual CPE Market To Hit USD 21.73 Billion at a 31.47% CAGR by 2030 – Report by Market Research Future (MRFR)
Virtual CPE Market Growth Boost by Growing Need for Virtual Networking Infrastructure and Technology
New York, US, Nov. 22, 2022 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Global Virtual CPE Market Research Report, Service (Professional, Managed), Deployment, Solution, Application – Forecast till 2030”, the virtual CPE market will touch USD 21.73 billion at a 31.47% CAGR by 2030.
Virtual CPE Market Growth Drivers
The market for virtual customer premises equipment is being driven by an increase in the demand for products and services for virtual networking infrastructure. A better networking infrastructure is offered by virtual customer premises equipment and is available from anywhere. Enterprises use virtual customer premises equipment (vCPE) because it requires little hardware from the consumer. The corporation spends less on capital as a result.
Virtual CPE Market Key Players
Eminent market players profiled in the global virtual CPE market report includes,
- Intel Corporation (U.S.)
- Qosmos (France)
- AT&T Inc (U.S.)
- NEC Corporation (Japan)
- Orange Business Services (The Netherlands)
- Verizon Wireless (U.S.)
- Cisco Systems Inc (U.S.)
- Ericsson AB (Sweden)
- International Business Machines
- Corporation (U.S.)
- Dell Inc (U.S.)
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Virtual CPE Market Opportunities
Growing Need for Mobility to offer Robust Opportunities
Without the need for a significant amount of networking gear, V-CPE offers improved physical networking infrastructure that can be converted into sharable virtual resources and accessed from anywhere. Telecom firms profit from VCPE solutions because they make it easier to transfer data between various business units. This reason encourages telecom carriers to employ VCPE options, which supports the expansion of the virtual customer equipment industry.
Virtual CPE Market Restraints and Challenges
Security Concerns to act as Market Restraint
Security concerns in the network virtualization, shortage of skilled workforce, and limited knowledge may act as market restraints over the forecast period.
Virtual CPE Market Report Scope:
|Virtual CPE Market Size by 2030||USD 21.73 Billion|
|Virtual CPE Market CAGR during 2020-2030||31.47%|
|Segments Covered||by Deployment, by Application|
|Key Market Opportunities||Virtual CPE is a popular medium to distribute network services such as virtual private network connectivity, firewall security, and routing to organizations with the guide of software apart from dedicated hardware devices.|
|Key Market Drivers||The major driving factor that has improved Virtual CPE Market Share for the virtual customer premise equipment is the quick adoption of virtual CPE network infrastructure, higher adoption of internet technologies and growing requirement of enterprise mobility market among others.|
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Virtual CPE Market Segmentation
The global virtual CPE market has been bifurcated based on application, deployment, solution, and service.
By service, professional service will lead this market over the forecast period.
By solution, the virtual CPE market is segmented into virtual equipment solution, infrastructure management, security and compliance, and others.
By deployment, cloud-hosted CPE model will dominate the market over the forecast period.
By application, enterprise segment will spearhead this market during the assessment period.
The market has been impacted by COVID-19, claims the Virtual Customer Premises Equipment Market Report. In 215 countries, COVID-19 has caused trouble. Nations have instituted lockdowns to combat their negative effects, which have affected the market for virtual customer premises equipment. The COVID-19 pandemic has severely impacted operations in a few key industries, including BFSI, healthcare, IT, manufacturing, government & public sector, and others. As a result, it is expected that this factor will have a negligible market impact on all global industries. The pandemic has benefitted the market segment for virtual CPE.
Virtual CPE Market Regional Analysis
North America to Head Virtual CPE Market
Over the forecast period, North America will be in the lead. Due to a mature global technical market, the US is the main provider here. Additionally, the increased use of virtual CPEs in businesses is also driving market expansion. Due to rising NFV and SDN adoption among data centers and telecom firms, established economies, and cutting-edge technology, North America is anticipated to have the largest share and would dominate the V-CPE solutions and services market over the forecast period.
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APAC to Have Favorable Growth in Virtual CPE Market
Due to significant expenditures made in infrastructure and smart city initiatives, the Asia Pacific, or APAC, is anticipated to experience prompt growth over the projected period in the vCPE market. The area highlights a convergence of population with strong growth rates, emerging economies, and rising internet and mobile penetration. The vast population in the area has given businesses access to a sizable subscriber base. The market for vCPE is driven by the need for dependable and secure internet connectivity, which is mandated by the broad and different geographies, the widespread usage of smart devices, and the internet. Due to the substantial paradigm shift in networking technology represented by vCPE and the region’s favorable growth prospects, several global businesses are considering investing there.
As data spreads globally, the volume of enterprise traffic is growing quickly. Additionally, there is a huge need for effective data centre resources. vCPE has been gaining pace within the enterprise ecosystem as a solution to these problems. A good revenue share in the (vCPE market was earned by the Asia Pacific region in 2021 as a result of considerable investments in infrastructure and smart city projects. A population with rapid growth rates, expanding economies, and increasing internet and mobile penetration are all present in the region. The adoption of V-CPE solutions is anticipated to be driven by the region’s growing need for cloud-based services and enterprise mobility, making APAC the one with the quickest growth. Another factor driving up demand for V-CPE solutions is the tremendous business growth in the APAC area. Over the course of the forecast period, APAC is anticipated to hold a share of more than 35% of the global market for virtual customer premises equipment. The adoption of V-CPE solutions is anticipated to be fueled in this area by the expanding requirement for enterprise mobility and cloud-based solutions, making APAC the region with the quickest growth throughout the forecast period. Another factor driving up demand for V-CPE solutions is the tremendous business growth in the APAC area.
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The region’s industries’ rising need for Internet of Things (IoT) devices will cause the Asia Pacific market to expand at its fastest rate. Agriculture, manufacturing, transportation and logistics, and the energy and utility sectors are anticipated to dominate the market in this area. Asia Pacific will have the quickest market growth throughout the forecast period and is expected to see exponential expansion.
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