According to Market Research Future (MRFR), the global virtual customer premises equipment market is expected to reach USD 3 billion with 43% CAGR from 2016 to 2022 (forecast period). The report includes a COVID-19 analysis of the global virtual customer premises equipment market. It provides a broad review of market segments, recent developments, growth, market forecasts, and challenges for analyzing current growth opportunities.
Virtual Customer Premises Equipment is to simplify the network and its administration by transferring from home or business to the network, where it can be operated by a commodity server under the control of a network operator. As a flexible network operator, it can minimize costs, dynamically deliver network functions, and offer agile new service. Through using V-CPE, network providers can simplify and speed up service delivery and also configure and manage devices remotely. For instance, using these equipment’s network operators can virtualize IP functions for subscriber and service management, Dynamic Host Control Protocol (DHCP), virtualize Network Address Translation (NAT), or firewall services.
Growing mobility needs, rising demand for virtual networking infrastructure solutions, and services, along with varying traffic patterns, are some of the main drivers for the growth of the V-CPE industry. Virtual Customer Premises Equipment also offers improved physical networking infrastructure that can be transmuted into sharable virtual resources. These can also be obtained from anywhere without using a lot of networking hardware. Moreover, the high demand for private clouds among businesses to support cloud-based applications is accelerating the growth of the market for virtual customer premises equipment.
However, the growing demand for security concerns about virtual architecture, the issues of reliability, and the lack of a qualified workforce impede the market’s growth for virtual customer premises equipment.
Moreover, the virtualization of technology is expected to lead to the exchange of information, group discussions, and online programs that will drive the demand over the forecast period.
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The global market for virtual customer premises equipment has been segmented on the basis of solutions, services, and end-users.
On the basis of solutions, the global virtual customer premises equipment market has been segmented into virtual switches, controller & application platform, virtual routers, security, compliance, orchestration, infrastructure management, and others.
On the basis of services, the global virtual customer premises equipment market has been segmented into managed and professional.
On the basis of end-users, the global virtual customer premises equipment market has been segmented into BFSI, healthcare, retail & e-commerce, among others.
On the basis of services, the global virtual customer premises equipment market has been segmented into managed and professional. Out of these, professional held the largest market share majorly due to the adoption of network virtualization among enterprises that has raised the demand for network function virtualization (NFV) technology, which helps to increase the demand for V-CPE infrastructure.
Region-wise, the global virtual customer premises equipment market has been segmented into North America, Europe, Asia Pacific, and RoW.
North America held the most substantial market share in the global market for virtual customer premises equipment, while the Asia Pacific is projected to rise steadily over the 2016-2022 forecast period.
North America held the largest market share, especially in countries such as the United States, primarily due to the existence of a vast number of V-CPE service providers offering customized solutions to multiple end-users.
The Asia Pacific region is projected to grow over the forecast period 2016-2022, particularly in countries like China and Japan, mainly due to massive investment in the development of NFV and V-CPE technologies with the increasing adoption of software-defined technologies.
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