In its research report, Market Research Future (MRFR), emphasizes that the global virtual customer premises equipment (vCPE) market 2020 is expected to grow exponentially over the review period, securing a substantial market valuation of USD 3 Billion and a healthy 43% CAGR over the review period.
The major market players operating in the global market as identified by MRFR are Telco Systems (U.S.), ALTEN Calsoft Labs (U.S.), Hewlett Packard Enterprise (U.S.), IBM Corporation (U.S.), VMWare Inc. (U.S.), NEC Corporation (Japan), Versa Networks (U.S.), Juniper Networks Inc.(U.S.), Cisco Systems Inc.(U.S.), Ericsson Inc (Sweden) and others.
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Drivers and Restraints
Virtual customer premises equipment offers enhanced networking infrastructure, which can be accessed anywhere. Enterprises are adopting virtual customer premises equipment (vCPE) as its hardware requires minimal hardware to the customer. This lowers the capital expenditure of the company. Additionally, with virtual customer premises equipment (vCPE), support, and maintenance are provided with the software, which increases efficiency. Raising the need for mobility, increasing demand for virtual networking infrastructure solutions, and services, along with varying traffic patterns, are some of the key driving factors for the growth of the v-CPE market. Virtual Customer Premises Equipment also provides enhanced physical networking infrastructure, which can be transformed into sharable virtual resources. These can also be accessed from anywhere without using much of the networking hardware. Also, the high demand for private clouds among enterprises is promoting cloud-based applications is fuelling the growth of the virtual customer premises equipment market. The driving factor for the vCPE software and uCPE equipment market is the rising need for mobility of IT services and growing demand for virtual networking infrastructure solutions & services.
The increasing demand for security concerns regarding virtual architecture, the reliability issues, and the lack of a skilled workforce are the factors hindering the growth of the virtual customer premises equipment market. The virtualization of technology helps in information exchange, group discussions, and online programs that are expected to drive the market over the forecast period.
The Global virtual customer premises equipment market has been segmented on the basis of solutions, services, end-users, and region. By solutions, the market has been bifurcated into virtual switches, virtual routers, security, compliance, controller & application platform, orchestration, infrastructure management, and others.
On the basis of services, the market can be segmented as managed and professional. On the basis of end-users, the market can be segmented into BFSI, healthcare, retail & e-commerce, among others.
On the basis of services, the market can be segmented into managed and professional. Out of these, Professional accounted for the largest market share majorly due to the adoption of network virtualization among enterprises has increased the demand for network function virtualization (NFV) technology, which helps to increase the demand for v-CPE infrastructure.
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The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
North-America accounted for the largest market share especially in the countries such as U.S majorly due to the presence of a large number of v-CPE service providers offering custom-made solutions to multiple end-users areas. The Asia Pacific’s market is expected to witness exponential growth and is projected to be the fastest growing region during forecast period. The adoption of Virtual CPE solutions in this region is expected to be fuelled by the increasing need for enterprises mobility and cloud-based solutions. Another reason for the growing demand for Virtual CPE solutions is the rapid expansion of enterprises in the Asia Pacific region.
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