Market Overview:
Virtual Customer Premises Equipment Market adoption on a large scale, the market is expected to grow at a 35.2% CAGR, and hold a market valuation of USD 3,818.8 Million, by the end of the global forecast to 2030.
Virtual Customer Premises Equipment is a way to dispatch the network services to the organizations using software rather than dedicated hardware devices. The network services include routing, firewall security, and virtual private network connectivity. Virtual enterprise CPE solutions are called Virtual business CPE (vB-CPE) solutions. This equipment is used to simplify and accelerate service delivery, remotely configure, manage devices, and allow customers to prefer new services or existing ones. It reduces the cost of networking infrastructure. One of the major advantages over traditional hardware-based solutions is remote deployment.
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Key Players:
Competitive Landscape of the Virtual Customer Premises Equipment Market,
- ALTEN Calsoft Labs (U.S.)
- VMWare Inc. (U.S.)
- Ericsson Inc (Sweden)
- Hewlett Packard Enterprise (U.S.)
- Telco Systems (U.S.)
- NEC Corporation (Japan)
- IBM Corporation (U.S.)
- Juniper Networks Inc.(U.S.)Versa Networks (U.S.)
- Cisco Systems Inc.(U.S.)
Rising demand for virtual or cloud-based solutions is propelling market growth. Increasing mobility requirements is fueling market growth. Surging demand for virtual networking infrastructure solutions and services is fostering the growth of the market. Education systems are adopting the VCPE for providing a virtual technology-based online program that includes information exchange, group discussions, and other features which further escalates the market growth. It makes the data transfers easy among different business functions which raise the demand for the market.
The Virtual Customer Premises Equipment Market opportunities are introducing the innovations in this system that may fuel the market growth.
Market Segmentation:
The Virtual Customer Premises Equipment Market is classified into solution, service, end-user, service model, application, organization size.
Solution Segmentation: The Virtual Customer Premises Equipment Market solutions are segregated into virtual routers, virtual switches, controller and application platform, orchestration and infrastructure management, and compliance and security.
Service Segmentation: By service, the Virtual Customer Premises Equipment Market is bifurcated into managed service and professional service.
Service Model Segmentation: Based on the service model, the Virtual Customer Premises Equipment Market is trifurcated into the platform as a service (PaaS), infrastructure as a service (IaaS), and others.
End-user Segmentation: By end-user, the virtual customer premises equipment market is split into small enterprises, medium enterprises, and large enterprises.
Application Segmentation: The virtual customer premises equipment market applications are banking, IT & telecommunication, BFSI, energy & utility, healthcare, government office & education, and others.
Regional Analysis:
Based on the recent study, the global virtual customer premises equipment market is divided into Asia-Pacific, North America, Europe, and the Rest of the World. Out of these regions, North America is holding the highest market share due to the presence of concerned large-sized service providers and rising adoption of SDN and NFV among data centers and telecom companies that transforming the virtual customer premises equipment market. Asia-Pacific is expected to dominate the significant share due to the presence of emerging countries like China, and Japan who are increasing their investments for the development of technologies like v-CPE and NFV.
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Virtual Customer Premises Equipment Industry Developments:
January 2023: Cisco and Juniper Networks announce plans to integrate their vCPE solutions.
February 2023: NTT Communications and Netgear partner to offer vCPE solutions to businesses in Japan.
March 2023: Intel launches its vCPE reference platform, which is designed to help service providers deliver cloud-based services to their customers.
April 2023: Nokia and HPE announce a partnership to develop vCPE solutions for the enterprise market.
May 2023: Dell Technologies and VMware announce a partnership to offer vCPE solutions to businesses of all sizes.
June 2023: Avaya and Broadcom announce plans to integrate their vCPE solutions.
These are just a few of the many vCPE industry developments that have taken place in 2023. The vCPE market is growing rapidly, and we can expect to see even more innovation in this space in the years to come.
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