Market Research Future (MRFR) states that the global virtual customer premises equipment will garner a projected CAGR of 43% during the forecast period between 2016 and 2022. Add to this, the market is anticipated to reach a valuation of USD 3 billion by the end of 2022.
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The rising need for mobility, varying traffic patterns, and the increasing demand for virtual networking infrastructure services are some of the vital factors driving the growth of the global virtual customer premises equipment market. V-CPA also offers improved physical networking infrastructure, one which holds the ability to transform into sharable virtual resources. Additionally, high demand for private clouds across organizations is boosting the demand for cloud-based applications. This, in turn, is driving the growth of the global v-CPA market.
However, on the other hand, the rising demand concerning security of virtual architecture, issues regarding reliability, and the lack of skilled labors are some of the key restraining factors pulling down the growth of the global virtual customer premises equipment market.
The key players identified in the global virtual customer premises equipment market are selected taking various factors into consideration. This includes their global reach, country of operation, market contribution, recent developments, and other factors. Some of the key players listed by MRFR are as follows: ALTEN Calsoft Labs (U.S.), VMWare Inc. (U.S.), Hewlett Packard Enterprise (U.S.), Juniper Networks Inc. (U.S.), Versa Networks (U.S.), IBM Corporation (U.S.), Ericsson Inc (Sweden), NEC Corporation (Japan), Cisco Systems Inc.(U.S.), Telco Systems (U.S.), and others.
June 2019, Dell EMC expanded its Virtual Edge Platform capabilities by certifying and making the ADVA Ensemble Software available, thereby delivering a software choice of more than 50 VNFs.
The global virtual customer premises equipment market segmentation is based on the following key dynamics: services, solutions, and end-users.
By solutions, the market includes compliance, virtual switches, security, orchestration, virtual routers, infrastructure management, controller & application platform, and others.
By end-users, the market segments into retail, healthcare, BFSI, ecommerce, and others.
By services, the market divides into professional and managed services. Among the two, the professional segment holds the highest share of the global market and is reported to grow during the forecast period at a notable pace to maintain its stronghold. The dominance of the segment is due to the high adoption level of network visualization. This has prompted in boosting the demand for network function virtualization (NFV) technology, thereby pushing the growth of the market.
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The geographical analysis of the global virtual customer premises equipment market includes the study of four major regions, namely Europe, North America, Asia Pacific, and the Rest of the World (RoW).
The North American region accounts for the highest share in the global virtual customer premises equipment market. The growth of the region can be primarily attributed to the presence of the US, which leads the regional rankings in terms of country-wise segmentation. The North American region primarily comprises various develop economies. These developed countries have an affinity towards the adoption of some of the latest technological advancements.
On the other hand, the Asia Pacific region is projected to remain a key geographical territory in the global landscape and grow at an impressive pace over the forecast period. The presence of countries like China and Japan is influencing a positive growth over the Asia Pacific regional market. The huge investments made in the region for the purpose developing NFV and cCPE technologies, the growing adoption of software-defined virtual technology, and the expanding pool of IT hubs present and being built in countries like India is expected to accelerate the market in this region.
The European region is expected to show decent growth rate in the forthcoming years. The region has similar growth pattern as that of North America. Whereas, the Rest of the World (RoW) geographical segment, comprising Latin America and the Middle East & Africa, is forecasted to gain minimal growth percentage during the mentioned assessment period.
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