The MPLS-based Core Network market refers to the market for Multi-Protocol Label Switching (MPLS) technology-based solutions for building the backbone or core of a wide area network (WAN). MPLS is a technology used to speed up and simplify the flow of data across a WAN by labeling and prioritizing data packets, enabling efficient and reliable delivery of data across large and complex networks.
MPLS-based core networks are widely used by telecom service providers and large enterprises to support their WAN infrastructure and services, such as VPN, internet connectivity, and cloud access. The market is expected to grow due to the increasing demand for high-performance WAN solutions and the need for efficient and secure networking in various industries, such as financial services, healthcare, and government. Key players in the market include Cisco Systems, Juniper Networks, Nokia, Huawei, and Ciena.
Over the next few years, demand is anticipated to rise for managed MPLS-based core networks that can deliver great quality of service to prevent packet loss.
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A number of factors, including the expanding demand for a dependable and affordable MPLS-based core network, improved network utilisation, the expansion of the core network provider landscape, the rising availability of affordable MPLS-based core networks, and technological advancements, are expected to contribute to the market’s significant growth. The market for MPLS-based core networks was estimated to be worth close to US$ 40 billion in 2020 and is anticipated to increase at a CAGR of 10% from 2021 to 2031.
US and Canada MPLS-based Core Network Market Outlook
The US is one of the largest markets for MPLS-based core networks globally. The US MPLS-based core network market is set to tread on the historic pattern of bust and boom during the assessment period 2021-2031. Demand is likely to remain muted in the next couple of years, as several end-use industries make a gradual recovery.
Demand for MPLS-based core networks in the US and Canada will be led by the IT and telecom sectors. Furthermore, the widespread investments in cloud services due to superior advantages of IaaS, SaaS, and PaaS and to maintain their delivery with a hybrid solution, in turn is fueling the growth of the MPLS-based core network in the U.S. and Canada region.
Who are the Key Providers of MPLS-based Core Network?
Some of the leading providers of MPLS-based core network include
- AT&T Communications Inc.
- Cisco Systems Inc.
- Century Link Inc.
- Orange S.A.
- BT Global Services Ltd.
- Sprint Nextel Corporation
- Syringa Networks LLC
- NTT Communications, and others.
The MPLS-based core network provider’s major strategy involves expansion through the collaboration of assets, business, technologies, and products that allow them for business expansion and gain significant market shares. For instance, in September 2020, AT&T partnered with DriveNets, to utilize DriveNets Network Cloud for deploying their next gen IP/MPLS core routing solution in the US.
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Key Segments of MPLS-based Core Network Market
By Component:
- MPLS-based Devices
- IP/MPLS Management Software
- Services
By End-use Industry:
- Banking, Financial Services, and Insurance (BFSI)
- Manufacturing
- Government
- Healthcare
- IT and Telecommunications
- Retail
- Others
By Region:
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- UK
- France
- Germany
- Italy
- Spain
- BENELUX
- Russia
- Rest of Europe
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