The global virtual CPE market share will touch USD 2600 million and at a 27% CAGR in the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
Growing Need in Virtual Networking Infrastructure to Boost Market Growth
The growing need in virtual networking infrastructure for solutions and services will boost market growth over the forecast period. Virtual equipment for customer’s premises offers enhanced networking infrastructure, available anywhere. vCPE is adopted by companies as this needs the customer in having minimal hardware.
Increasing Need for Mobility to offer Robust Opportunities
The increasing need for mobility will offer robust opportunities for the market over the forecast period. V-CPE offers improved physical networking infrastructure which can be transformed into sharable virtual resources and accessed from just anywhere sans any networking hardware. Virtual CPE solutions benefit telecom companies as they help in facilitating the transfer of data amid different business function. This draws telecom providers in using V-CPE solutions that boost market growth.
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High Initial Investment to act as Market Restraint
The high initial cost related to virtual CPE solutions along with reliability and security concerns associated with virtual architecture can act as a market restraint over the forecast period. High initial virtual customer equipment investment makes the technology unaffordable for most enterprises thus impeding market growth. Besides, the COVID-19 impact may also impact market growth.
Lack of Skilled Workforce to act as a Market Challenge
The lack of a skilled workforce coupled with limited knowledge among end-user may act as a market challenge over the forecast period.
The global virtual CPE market is segmented based on service, solution, deployment, and application.
By service, the professional service segment which includes support services, maintenance, integration services, and consulting will lead the market over the forecast period.
By solution, the global virtual CPE market is segmented into infrastructure management, virtual equipment solution, security and compliance, and others.
By deployment, the global virtual CPE market is segmented into the cloud-hosted CPE model and CPE model.
By application, the enterprise segment will dominate the market over the forecast period.
North America to Sway Virtual CPE Market
North America will sway the virtual CPE market over the forecast period. Increased use of SDN and NFV among data centers and telecom companies, advanced technology, and the presence of well-established economies, is adding to the global virtual CPE market growth in the region.
List of Key Players Covered in the Virtual CPE Market Report
Eminent players profiled in the global virtual CPE market report include Intel Corporation (U.S.), Qosmos (France), ATT, 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.). The other players include Hewlett Packard Enterprises (HPE) (U.S.), Juniper Networks, Inc (U.S.), Brocade Communications System, Inc (U.S.), Arista Networks, Inc (U.S.), Versa Networks, Inc. (U.S.), ADVA Optical Networking SE (Germany), Huawei Technologies Co., Ltd (China), RAD Data Communications (Israel), Ciena Corporation (U.S.), Lanner Electronics Incorporated. (Taiwan), Accedian Networks Inc. (Canada), Fortinet Inc. (U.S.), Anuta Networks (U.S.), F5 Networks, Inc (U.S.), Criterion Networks, Inc (U.S.), ALTEN Calsoft Labs (U.S.), Cloudify Platform Ltd (U.S.) among others.
The virtual CPE market is fragmented and also competitive for the presence of different international domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, new product launches, and more.
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