Virtual Customer Premises Equipment Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2027
MarketsandMarkets forecasts the global Virtual Customer Premises Equipment Market size is expected to grow USD 2.8 billion in 2022 to USD 15.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 40.2% during the forecast period.
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Solutions/tools segment to grow at the highest market share during the forecast period
Virtual CPE providers offer vCPE solutions to manage, upgrade, and optimize the entire network infrastructure. The major network management solutions include network performance and monitoring; network configuration; cloud, virtual, and SDN monitoring; log and event management; and others (IP address management and VoIP monitoring). Network administrators can view the network statistics through graphs over web browsers or dashboards. vCPE solutions help network administrators monitor small as well as large network infrastructures. These tools ensure the running of the network without any outage. Hence, businesses invest huge CAPEX on network infrastructures to optimize and upgrade enterprise networks. SMEs benefit more from vCPE solutions in terms of adoption, owing to their features, functionalities, and low cost. vCPE play an important role in every line of business, such as SMEs and large enterprises. The solutions/tools segment is further divided into virtual switches, virtual routers, application & controller platform, security & compliance, and infrastructure management & orchestration.
Security and Compliance is expected to grow at a highest market share during the forecast period
Security and compliance are the main concern for enterprises deploying vCPE solutions. Data flow during processing needs to be secured and comply with the related regulations. vCPE solution provides virtualized control over the entire network. This virtualized control reduces the threat to security by deploying various security technologies within the control plane. Major security technologies, such as Secure Sockets Layer Virtual Private Network (SSL VPN), firewall, transport layer security, Internet Protocol Security (IPsec) encryption, Intrusion Detection System (IDS) and Intrusion Prevention System (IPS), and Remote Access Dial in User Service (RADIUS), are deployed on vCPE architecture to make the infrastructure more secure and effective. Companies are integrating vCPE solutions with the added benefit of securing data and are ensuring that it complies with the mandates related to the networking market.
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The major vendors covered in the Virtual Customer Premises Equipment Market Cisco (US), HPE (US), Juniper Networks (US), Broadcom (US), IBM (US), Arista Networks (US), Dell Corporation (US), Ericsson (Sweden), NEC Corporation (Japan), Intel (US), Wind River (US), RAD Data Communication (Israel), Huawei Technologies (China), Verizon (US), ADVA Optical Networking (Germany), Advantech (Taipei), Spirent Technologies (UK), Versa Networks (US), Anuta Networks (US), Parallel Wireless (US), Altiostar (US), NoviFlow (Canada), Cumucore (Finland), NFWare (US), netElastic Systems (US), VoerEirAB (Sweden), and Brian4net (Russia).
These players have implemented various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to develop their presence in the virtual customer premises equipment market. The most widely used strategies by businesses have been partnerships and new product launches which helped them transform their offerings and widen their customer base.
Founded in 1984 and headquartered in California, US, Cisco is a key manufacturer of IP-based networking products. The company delivers products and solutions in routing and switching, including advanced technologies, for instance home networking, IP telephony, optical networking, security, storage area networking, and wireless technologies. The company has improved its status from being a supplier of specific products & services to a supplier of architectural solutions established on networking infrastructure. Cisco offers its products and services to large businesses, commercial businesses, service providers, and consumers. The company has a presence its presence in the Americas, Europe, the Middle East & Africa, and the Asia Pacific. It provides solutions for various industries, including automotive, consumer packaged goods, energy, materials and mining, hospitality, education, retail, transportation, manufacturing, healthcare, and government. Cisco offers technologically advanced products and solutions to its customers. These products deliver maximum benefits with minimum pricing. The company provides hardware, software, networking, and system communications technology-based products and services. It offers products and services to various verticals, such as energy, government, education, financial services, retail, sports and entertainment, manufacturing, healthcare, transportation, and hospitality.
HPE provides IT solutions to businesses and public-sector enterprises. It operates through five segments: software, enterprise group, enterprise services, corporate investments, and financial services. HPE has a diversified portfolio of products and services. The company provides scalable data center automation solutions for SDDC that help improve data center efficiency and accelerate provisioning, patching, and compliance. HPE data center networking solutions support a software-defined, cloud-based, hyper-converged, and composable infrastructure for hybrid IT. Companies also offer advanced products for the software-defined technologies that include SDN, SDC, and SDS solutions.
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