Market Overview 

As per the latest report, the global Virtual Customer Premises Equipment Market Growth is witnessed at US$1.3 billion in 2020 and is expected to reach the market size of USD 3,818.8 Million along with the CAGR of 35.2% during the forecast period 2022-2030.

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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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.

The virtual customer premises equipment market’s key competitors are Ericson Inc. (Sweden), Telco Systems (U.S), IBM Corporation (U.S), NEC Corporation (Japan), and others. 

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Industry News

According to the latest updates, the virtual customer premises equipment market forecast states that this equipment is expected to grow at a significant rate due to investments, product launches, mergers, acquisitions, and expansions. IBM expands & delivers its solutions for the NFV and the customer premises portfolio.

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