Virtualized Evolved Packet Core Market Size, Share, Growth Analysis, By Components(Solutions, services), By Application(LTE, VoLTE, IoT, M2M), By Deployment Mode(On premises, cloud), By End Users(Telecom, enterprises), By Service(Professional services, Consulting, Integration and deployment, training and support), By Network(5-G and 4-G), By Region - Industry Forecast 2024-2031

Global Virtualized Evolved Packet Core Market size was valued at USD 5146.09 million in 2019 and is poised to grow from USD 6355.57 million in 2023 to USD 34509.97 million by 2031, growing at a CAGR of 23.55% in the forecast period (2024-2031).

Due to its cloud native and service based architecture, the Global Virtualized Evolved Packet Core Market is expanding. Additionally, the virtualized evolving packet core market plays a significant role for telcos due to its vast range of features and functionalities. In accordance with the shifting requirements of the network infrastructure, the virtualized evolving packet core market solution effectively satisfies the needs and aspirations of telecom operators.

To manage the increasing amount of mobile data traffic, virtualized evolving packet core solutions are now required. The efficient management of mobile data traffic by a virtualized evolving packet core increases throughput, reduces network congestion problems, optimises resource consumption, and improves service quality. One of the key factors driving the adoption of the virtualized evolving packet core market is the advancement of cellular network technology, which offers faster data speeds and lower latency.

US Virtualized Evolved Packet Core Market is poised to grow at a sustainable CAGR for the next forecast year.