Why Virtual Customer Premises Equipment Market Growth Shows No Sign of Slowing?
For past couple of years, gradual shift from hardware to software has been witnessed by various organizations owing to the increased network flexibility. The software that offers network services includes virtual private network connectivity, firewall security, and routing. This methodology of delivering network services through software is termed as virtual customer premises equipment (VCPE). The virtual infrastructure enables enterprises to reduce organizations’ dependency on hardware. This virtual infrastructure also aids organizations to minimize the cost of networking infrastructure.
Virtual customer premises equipment offers updated physical networking infrastructure that can be changed into sharable virtual resources and can be accessible from anywhere. Remote deployment in case of virtual customer premises equipment is among the prime advantages over the traditional hardware based solutions.
Virtual Customer Premises Equipment Market: Drivers and Challenges
Educational institutions are transforming the education system and offering virtual technology based online programs that include information exchange, group discussions and many more features which increases adoption of VCPE in education industry and hence driving the growth in virtual customer premises equipment market. Some other factors including cost minimization in hardware installation and maintenance and rising demand for cloud based or mobility solutions which impact positively in driving the growth for virtual customer premises equipment market. Telecom companies are benefited by VCPE solutions as these solutions ease the data transfer among different business functions. This factor attracts telecom providers to utilize VCPE solutions fueling the growth of virtual customer equipment market.
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Reliability and security are among the prime challenges that impact negatively to the growth of virtual customer equipment market. Few other factors restraining the growth of virtual customer premises equipment market include lack of skilled workforce and limited knowledge
Virtual Customer Premises Equipment Market: Segmentation
Virtual customer premises equipment market can be segmented on the basis of solution, service, service model, end-user, industry application and region.
On the basis of solution, virtual customer premises equipment market can be segmented into virtual routers, virtual switches, controller and application platform, orchestration and infrastructure management, and compliance and security
On the basis of service, virtual customer premises equipment market can be segmented into managed service and professional service
On the basis of service model, virtual customer premises equipment market can be segmented into platform as a service (PaaS), infrastructure as a service (IaaS) and others.
On the basis of end-user, virtual customer premises equipment marketcan be segmented into small and medium enterprises (SMEs) and large enterprises
On the basis of industry application, virtual customer premises equipment market can be segmented into banking, financial services and insurance (BFSI), IT and telecommunication, energy and utility, government offices and education, healthcare, and others
Virtual Customer Premises Equipment Market: Regional Overview
Regionally, virtual customer premises equipment market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa
North America is expected to hold the major market share during the forecast period owing to the increased adoption and usage of SDN and NFV among data centers and telecom companies which is transforming the virtual customer premises equipment market across industry verticals in the region. Western Europe closely follows the North America market in terms of market share as the regions has well established economy which enables enterprises in this region to invest in new technologies. Asia Pacific excluding Japan market is expected to experience exponential growth in the forecast period.
Virtual Customer Premises Equipment Market: Competition Landscape
Few prominent players in the virtual customer premises equipment market include:Hewlett Packard Enterprise, ALTEN Calsoft Labs, IBM Corporation, VMWare Inc., Versa Networks, NEC Corporation, Juniper Networks Inc., Cisco Systems Inc., Telco Systems, Ericsson Inc.
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Recent contracts/deals in Virtual Customer Premises Equipment Market:
In September 2015, AT&T., enhanced its network on demand for the designing of virtual customer premise equipment (VCPE) in collaboration with Juniper Networks Inc, Cisco Systems Inc, and Brocade Communications Systems Inc. targeting its business users.
In June 2016, NEC Corporations conducted pre-commercial trial for virtual customer premises equipment for residential users. This trail is conducted to enhance the diagnostic, effective troubleshooting and other operational benefits
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