Global Virtual Customer Premises Equipment (vCPE) Market 2019-2023 | 45% CAGR Projection Through 2023
The global virtual customer premises equipment (vCPE) market is expected to post a CAGR of nearly 45% during the period 2019-2023, according to the latest market research report by Technavio.
The reduction in TCO will be one of the major drivers in the global vCPE market. WAN optimizers, switches, and routers are proprietary networking equipment which are used by service providers. However, these proprietary networking equipment cannot work with external systems. Such drawbacks can be overcome by vCPE that uses low-cost white box server to run and virtualize network functions such as switching, VPN, routing, and firewall security. vCPE is designed to be compatible with other open-source software and external systems such as OPNFV. This minimizes the time taken to resolve complex proprietary issues, which in turn, reduces hardware maintenance cost.
As per Technavio, the increasing implementation of uCPE hardware by service providers, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global vCPE Market: Increasing Implementation of uCPE Hardware by Service Providers
uCPE helps in establishing virtualization, even at remote locations and contains improved properties compared to vCPE. The adoption of uCPE hardware is increasing among major service providers and end customers because it helps in lowering the cost of networking hardware. Service providers are incorporating uCPE solutions as one of their major expansion strategies because it will enable telecom service providers and network integrators to launch 5G network services. These factors will propel the vCPE market growth during the forecast period.
“The ease of deployment and the advantages of vCPE in IoT implementation are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global vCPE Market: Segmentation Analysis
This market research report segments the global vCPE market by end-user (telecommunication, banking and financial services, retail, education, and others) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market share in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the growing demand for vCPE resulting from the adoption of cloud computing, 5G, and SD-WAN and infrastructure-as-a-service in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario