Virtual Evolved Packet Core Market Size

Virtual Evolved Packet Core Market size was over USD 9.39 billion in 2024 and is poised to reach USD 187.36 billion by the end of 2037, witnessing around 25.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of virtual evolved packet core is assessed at USD 11.33 billion.

In the year 2025, the industry size of virtual evolved packet core is evaluated at USD 9.3 Billion. The market growth can be attributed owing to the increasing mobile network data traffic. The mobile network data traffic is expanding owing to the growing number of smartphone subscriptions and increased data volume per subscription. According to the Ericsson Mobility report of 2022, the total mobile network data traffic reached approximately 51 Exabytes per month by the end of 2020. Also, during the covid-19 pandemic, the mobile network data traffic dynamics changed owing to factors such as work-from-home culture, lockdown, and restrictions on the movement of people.

Another factor driving the growth of the virtual evolved packet core is that the expansion of IoT has the possibility of benefitting the MNOs. It is estimated that to serve a variety of cases the mobile network operators would utilize virtual evolved packet cores in the live networks. In the heterogeneous IoT world, the MNOs can curate their network cost-effectively as per the choices of specific clients, sectors, and customers.