Virtual Customer Premises Equipment Market Forecast to Reach $10.2 Billion by 2025

Virtual Customer Premises Equipment Market is forecast to reach $10.2 billion by 2025, growing at a CAGR 9.6% from 2020 to 2025. Virtual customer premise equipment is a way of delivering network services such as routing, firewall security and virtual private network connectivity to companies through the use of software rather than dedicated hardware devices. By virtualizing CPE, providers can dramatically simplify and accelerate service delivery, remotely configure and manage devices and enable customers to order new services or adjust existing ones on demand. The driving factor for the Virtual Customer Premises Equipment (vCPE) software market is the growing need for IT services mobility and growing demand for virtual networking infrastructure solutions & services. Virtual customer premises equipment provides enhanced networking infrastructure that can be accessed anywhere. This lowers the company's capital expenditure. In addition, software is provided with virtual customer premises equipment (vCPE), which increases efficiency and support.

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Virtual Customer Premises Equipment Market Segment Analysis - By Service Model

During the forecast period IaaS segment is expected to grow at a CAGR of 8.1%. IaaS users are responsible for the application, data, runtime, middleware, and OSes management. IaaS extends the current infrastructure for temporary workloads in data centers. Examples include Amazon Web Services, Cisco Metapad, Microsoft Azure, etc. One of the biggest trends in cloud computing is Infrastructure as a Service (IaaS). The International Data Corporation (IDC) released its Quarterly Cloud IT Infrastructure Tracker, which forecasts that 48 per cent of total cloud environment IT infrastructure spending will be spent on IT infrastructure by 2020, which is equivalent to about $57.8 billion. This is expected to boost the market growth for IaaS and eventually for virtual customer premises equipment.

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Virtual Customer Premises Equipment Market Segment Analysis - By End-Use Industry

The Data centers and telecom service providers segment is projected to grow during the forecast period at the highest CAGR. Data centers and telecom service providers segment will grow gradually over the forecast period. V-CPE solutions and services for application areas enable data centers and enterprises to quickly deploy business applications at the customer premises. Data centres and telecom service providers are the most significant fields on the V-CPE market. The data generated by telecom companies which are stored and retrieved from the data centres is huge. Telecom companies can easily transfer their business functions from one geographic location to another with the help of V-CPE solutions. Rising technological advancements such as IoT and 5 G technologies requires fast internet connectivity for uploading as well as downloading of data. In order to meet such requirements, need for data centers offering high speed data accessing and saving compatibility has been also rising.

Virtual Customer Premises Equipment Market Segment Analysis - By Geography

APAC is expected to dominate the global Virtual Customer Premises Equipment market with a share of more than 35% during the forecast period. During the forecast period, APAC is expected to be the fastest growing region, as the adoption of V-CPE solutions in this region is expected to be fuelled by the growing need for enterprise mobility and cloud based solutions. The rapid expansion of enterprises in the APAC region is another reason for the increasing demand for V-CPE solutions. The Asia Pacific market is expected to grow at its highest rate due to increased demand for Internet of Things (IoT) devices across the region's industries. Industries such as energy and utilities, manufacturing, transportation and logistics, and agriculture are expected to lead the market in this region. Asia Pacific’s market is expected to witness exponential growth and is projected to be the fastest-growing region during the forecast period.

Virtual Customer Premises Equipment Market Drivers

Growing demand for virtual networking infrastructure solutions & service

The driving factor for the virtual customer premises equipment market is the growing demand for solutions & services in virtual networking infrastructure. Virtual customer premises equipment provides enhanced networking infrastructure, accessible anywhere. Virtual customer premises equipment (vCPE) is adopted by enterprises as it requires minimal hardware for the customer. This reduces the company's capital outlay. In addition, software support and maintenance is provided with virtual customer premises equipment (vCPE), which increases efficiency. Educational institutions are transforming the education system and offering online virtual technology-based programs that include information exchange, group discussions and many more features that increase the adoption of VCPE in the education industry and thus drive growth in the market for virtual customer premises equipment.

Rising need for mobility

V-CPE provides enhanced physical networking infrastructure that can be transformed into sharable virtual resources and accessed from anywhere without the use of a large part of networking hardware. VCPE solutions benefit telecom companies, as these solutions facilitate the transfer of data between different business functions. This factor draws telecom providers to use VCPE solutions that fuel the growth of the market for virtual customer equipment.

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Virtual Customer Premises Equipment Market Challenges

High initial investment

High initial costs associated with virtual CPE solutions combined with security concerns and reliability related to virtual architecture can act as a barrier to market growth. High initial virtual customer equipment investment makes the technology unaffordable for many enterprises. Hence it is expected to hinder market growth.

Virtual Customer Premises Equipment Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Virtual Customer Premises Equipment Market. Virtual Customer Premises Equipment Market is expected to be dominated by major companies such as Arista Networks, Brocade Communications Systems, Cisco System, Dell, Ericsson, Hewlett Packard Enterprises (HPE), International Business Machines (IBM) Corporation, Juniper Networks, NEC Corporation, Versa Networks, and others.

Acquisitions/Technology Launches

In June 2016, IBM expanded its portfolio of NFV and customer premises equipment solutions with cognitive features. The company released IBM Spectrum Computing, designed to extract full value from data, to accelerate performance-intensive analytics or machine learning.

In June 2016, Juniper networks launched Juniper Networks Cloud-Enabled Branch suite. This solution would help in creating self-propelled delivery of on-demand networking services.

Key Takeaways

The driving factor for the vCPE software market is the growing need for IT services mobility and growing demand for virtual networking infrastructure solutions & services.

Data centers and telecom service providers segment will grow gradually over the forecast period. Virtual Customer Premises Equipment enable data centers and enterprises to quickly deploy business applications at the customer premises.

APAC is expected to be the fastest growing region, as the adoption of V-CPE solutions in this region is expected to be fuelled by the growing need for enterprise mobility and cloud based solutions. The rapid expansion of enterprises in the APAC region is another reason for the increasing demand for V-CPE solutions.

The driving factor for the market of virtual customer premises equipment is the growing demand in virtual networking infrastructure for solutions & services. Virtual equipment for customers premises provides enhanced networking infrastructure, accessible anywhere. Virtual customer premises equipment (vCPE) is adopted by companies, as it requires the customer to have minimal hardware.

Related Reports :

A. Virtual Router Market
https://www.industryarc.com/Research/Virtual-Router-Market-Research-500706

B. Customer Data Platform Market
https://www.industryarc.com/Research/Customer-Data-Platform-Market-Research-500928

For more Information and Communications Technology Market reports @ https://www.industryarc.com/Domain/7/information-communication-technology-market-research.html

Venkat Reddy
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