Blockchain Press Releases
Virtual Customer Premises Equipment (vCPE) Market to reach $92.9 Billion Globally, by 2032 at 41.4% CAGR: Allied Market Research
The global virtual customer premises equipment (vCPE) market is experiencing growth due to several factors, including the adoption of network virtualization in business, the reduction of reliance on hardware, and the quick development of 5G networks
PORTLAND, Ore., Aug. 4, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Virtual Customer Premises Equipment (vCPE) Market by Component (Solution and Services), Deployment Mode (On-premise and Cloud), Enterprise Size (Large Enterprise, and Small and Medium-sized Enterprise), End User (Data Centers and Telecom Service Providers, and Enterprises), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2032.” According to the report, the global virtual customer premises equipment (vCPE) industry generated $3.0 billion in 2022, and is estimated to reach $92.9 billion by 2032, witnessing a CAGR of 41.4% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities
The global virtual customer premises equipment (vCPE) market is experiencing growth due to several factors, including the adoption of network virtualization in business, the reduction of reliance on hardware, and the quick development of 5G networks. However, network virtualization security issues hamper market growth to some extent. Moreover, the demand for scalable and adaptive network solutions is likely to increase, creating attractive opportunities for market expansion during the forecast.
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Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$3.0 Billion |
|
Market Size in 2032 |
$92.9 Billion |
|
CAGR |
41.4 % |
|
No. of Pages in Report |
411 |
|
Segments Covered |
Component, Deployment Mode, Enterprise Size, End User, and Region. |
|
Drivers |
Adoption of Network Virtualization in Business.
The reduction of reliance on hardware.
The quick development of 5G networks. |
|
Opportunities |
The need for scalable and adaptable network solutions is growing |
|
Restraints |
Network virtualization security issues |
COVID-19 Scenario
- The demand for flexible and scalable networking solutions as well as the rise in remote working both had significant effects of COVID-19’s on the virtual customer premises equipment (vCPE) market.
- Demand for vCPE solutions to allow safe and dependable connectivity for remote employees increased as organizations shifted to remote work models.
- The flexibility and scalability that vCPE solutions provided to satisfy these expectations, because they were virtualized and software-based, contributed to the market’s continued growth.
- The size of the virtual customer premise equipment (vCPE) market had been positively impacted by the rise in connectivity demand. The pandemic had made it clear how crucial it is for network infrastructure to be flexible and scalable. Businesses have realized the necessity of adaptable networking solutions that may change as business requirements change.
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The solution segment to maintain its lead position during the forecast period
By component, the solution segment held the major share in 2022, garnering nearly three-fourths of the global virtual customer premises equipment (vCPE) market revenue, and is likely to maintain its lead position during the forecast period. The adoption of cloud computing, software-defined networking (SDN), and network function virtualization (NFV) plays a significant role in driving demand for virtual customer premises equipment solutions. However, the services segment would showcase the fastest CAGR of 43.9% during the forecast period. Owing to the businesses ability to easily scale up or down their network services based on their requirements. It quickly provides or modifies services through software, which provides flexibility in adapting to changing business needs.
The on-premise segment to maintain its dominance during the forecast period
By deployment mode, the on-premise segment contributed to the highest share in 2022, accounting for more than three-fifths of the global virtual customer premises equipment (vCPE) market revenue, and is expected to maintain its dominance during the forecast period. Owing to on-premises implementation, users obtain full control of the infrastructure with one-time investments and one-time installation fees. More capabilities, including IPAM, NAT, Firewall, and QOS Policies, are provided by vCPE VNFS when deployed on-premises at the customer’s location. The cloud segment, however, would portray the fastest CAGR of 44.2% throughout the forecast period, owing to the scalability and flexibility provided by cloud-based vCPE deployments, which are key growth drivers. Businesses frequently encounter capacity and performance issues with conventional hardware-based CPE.
The data centers and telecom service providers segment to rule the roost by 2032
By end user, the data centers and telecom service providers segment accounted for more than three-fifths of the global virtual customer premises equipment (vCPE) market revenue and is projected to rule the roost by 2032. Owing to the large amounts of data produced by telecom firms, necessitating the use of high-quality storage solutions and services. The telecom service providers section includes companies that offer data transmission or digital information transit across mobile networks. The enterprises segment would display the fastest CAGR of 43.5% throughout the forecast period, owing to deploying, managing, and optimizing virtual network functions, defining service policies, ensuring network security, and monitoring the performance of the virtual customer premises equipment environment.
Asia-Pacific garnered the major share in 2032
By region, North America garnered the highest share in 2022, holding more than one-third of the global virtual customer premises equipment (vCPE) market revenue. Owing to the deployment of network services virtualization due to its potential to streamline operations, lower Capex and Opex, and hasten service delivery. Furthermore, authorities in the North American region have undertaken product development as a key strategy to enhance their services in the virtual customer premises equipment market. On the other hand, the Asia-Pacific region is likely to dominate the market in terms of revenue during the forecast period. The same region would also cite the fastest CAGR of 45.4% during the forecast period. Owing to the region’s growing demand for advanced networking solutions, particularly in cloud-based and software-defined networking (SDN) environments.
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Leading Market Players:
- International Business Machines Corporation
- Arista Networks, Inc.
- Broadcom Inc.
- Cisco Systems Inc.
- Hewlett Packard Enterprise Development Lp
- Juniper Networks, Inc.
- Dell Inc.
- NEC Corporation
- Intel Corporation
- Huawei Technologies Co., Ltd.
The report analyzes these key players in the global virtual customer premises equipment (vCPE) market. These players have adopted various strategies, such as expansion, new product launches, partnerships, and others, to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, opens up the November arena for the Bybit Crypto Titans trading competition. Available for users in select regions, a prize pool of 55,000 USDT will be available for a limited time only.
From now to Nov. 30, eligible traders can level up their trading strategies and amplify their winning chances by inviting friends to share two prize pools in two simple steps: register for the event at the Grand Arena, and invite friends and trade.
Battlefields: Once in the Arena, users can pick their battlefields. Up to 30,000 USDT are up for grabs in the Team Battlefield ranked by total trading volume, while another 15,000 USDT is reserved for traders in the Solo Battlefield competing by PnL(%).
More perks: Additionally, top traders and leaders will receive extra perks. Participants will receive a bonus 5 USDT for every new qualified referee, and the first 50 Team Leaders whose team exceeds a threshold amount in trading volume will be entitled to a 100 USDT bonus.
“As trading volumes overall are climbing, we are seeing so many talented traders in our community with a knack for navigating fast-moving markets. This event gives some of them an incentive to share their passion with their friends, and there is room for rewards for the solo trading pros to shine as well,” said Joan Han, Sales and Marketing Director of Bybit.
Market sentiment and activities have been trending up in recent weeks globally, and the enthusiasm is shared among users in niche markets. While traders rush to capture opportunities in a heated market, the Crypto Titans competition encourages users to bring out the best trading game and hone their trading skills for healthier returns.
Find out more about Bybit’s Crypto Titans: November Showdown, terms and conditions apply.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
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With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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Blockchain Press Releases
Blockchain for Good Alliance Hosts Web3 Oscar, Celebrating Innovators Advancing UN’s Sustainable Development Goals
DUBAI, UAE, Nov. 14, 2024 /PRNewswire/ — The highly anticipated Web3 Oscar, a prestigious event hosted by the Blockchain for Good Alliance (BGA), celebrating blockchain projects driving real-world impact aligned with the UN’s 17 Sustainable Development Goals (SDGs). Industry leaders gathered in Bangkok to honour innovators shaping a sustainable future.
The event was part of BGA’s November lineup, featuring two major initiatives for global change through blockchain: the Sustainable Innovation Summit and the Web3 Oscar Awards.
Sustainable Innovation Summit: A Hackathon for Social Impact
Held from September 9 to November 11, 2024, the Sustainable Innovation Summit hosted a hackathon with a $100,000 prize pool, inviting participants worldwide to create blockchain solutions addressing key issues such as poverty, clean water access, and gender equality. The summit concluded with a Demo Day at the Grand Hyatt Erawan in Bangkok, where finalists showcased their projects to blockchain pioneers, investors, and industry leaders, with opportunities for incubation support and equity-free funding.
Rising Stars
In a cinematic presentation style, 10 shortlisted projects from across the globe, participating in the Sustainable Innovation Summit’s 17 SDGs Challenge, took the stage. Each team presented their blockchain solutions to address sustainability challenges, telling the story of a “hero” confronting a global crisis (one of the 17 SDGs), with blockchain as the “tool” they wield for change.
Winners for the 17 SDGs Challenge:
- 1st Place: Grand Social Impact Award 🥇 EthicHub
- 2nd Place: Outstanding Social Innovation Award 🥈 Plastic Odyssey
- 3rd Place: Emerging Impact Award 🥉 ResearchHub
Rising Star Awards (top 10 projects, in no specific order):
- Wavy Health
- LAKE (LAK3)
- KulaDAO
- erable°
- arkreen
- UCO Network
- Edu3Labs
Web3 Oscar Awards: Honouring Leaders in Blockchain for Social Good
Coinciding with the hackathon’s Demo Day on November 11, the BGA Web3 Oscar Award recognizes individual contributions to blockchain for social good across three categories, with up to 7 total winners.
Each category highlights individual efforts aligning with BGA’s mission.
The Collaboration Bridge Award honours individuals who have played a vital role in guiding the strategic direction of the Blockchain for Good Alliance (BGA). This year’s recipients are:
- Harn, CEO of Trigger Asset Management
- Mariana de la Roche Wills from INATBA (International Association for Trusted Blockchain Applications) and de la Roche W. Consulting
The Public Welfare Contribution Award celebrates individuals who have harnessed #BlockchainForGood. This award was presented to:
- BreeAnne Yek, Consultant at The Verdant Room
- Milica Dimitrijevic from Positiveblockchain.io
These individuals have demonstrated remarkable dedication, guidance, and pioneering work, significantly advancing the mission of the Blockchain for Good Alliance (BGA) in promoting sustainable development through blockchain technology.
In her closing remarks, Helen Liu, Co-founder and COO of Bybit and founder of BGA, explained how blockchain can bring people together to make a real difference worldwide. Her vision for leveraging blockchain to create worldwide impact was both inspiring and forward-thinking.
About Blockchain for Good Alliance (BGA)
The Blockchain for Good Alliance (BGA) is a long term collaborative non-profit initiative with key partners with the main aim to contribute to societal good by using blockchain technology to solve real world problems. By convening leaders, innovators, and organisations from across the blockchain community, BGA seeks to drive innovation, collaboration, and action towards a more sustainable and equitable world.
For more information
Email: [email protected]
Website: www.blockchainforgood.xyz
Twitter: www.twitter.com/chainforgood
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