According to Meticulous Research®, the global virtualized evolved packet core market is projected to reach $19.87 billion by 2031, growing at a CAGR of 19.3% from 2024 to 2031. This growth is primarily driven by the significant increase in mobile data traffic volumes and the rising demand for high-speed data services. Data security risks associated with vEPC infrastructure, however, pose a challenge to market growth. The market stands to benefit from increased investments in 5G technology, the adoption of cloud-native 5G core solutions, and the growing prevalence of IoT technology. Challenges such as the reliability of vEPC solutions and a lack of understanding about them persist. Integration of edge computing with vEPC technology is a notable trend in this market.

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The virtualized evolved packet core market is segmented by component into solutions and services. The solutions segment includes components like mobility management entity, home subscriber server, serving gateway, packet data network gateway, and policy & charging rules function. In 2024, the solutions segment is expected to dominate, driven by the need to reduce operational and capital expenditures, growing mobile data traffic, and the benefits of vEPC such as agility, flexibility, scalability, and low-latency real-time application delivery. Collaborations aimed at enhancing network performance for 5G and 4G customers further boost this segment's growth.

Application-wise, the market is divided into Mobile Private Network & Mobile Virtual Network Operators (MPN & MVNO), Long-term Evolution & Voice over Long-term Evolution (LTE & VoLTE), and Internet of Things & Machine to Machine (IoT & M2M). The MPN & MVNO segment is expected to hold the largest market share in 2024 due to the increasing penetration of mobile devices, demand for low-cost mobile services, and need for high-speed internet connectivity. Adoption of vEPC among MPN & MVNOs helps increase LTE and IMS network revenues through fast and cost-effective deployment. Partnerships like the one between Summa Networks and Cirrus Core Networks are crucial in providing innovative solutions for MNOs and MVNOs.

The market also segments by deployment mode into on-premise and cloud-based deployments. On-premise deployments are expected to dominate in 2024, driven by large enterprises' preference for greater control over their network infrastructure. However, the cloud-based deployments segment is anticipated to grow at a higher CAGR during the forecast period due to benefits like easy maintenance of customer data, cost-effectiveness, and scalability. The demand for cloud-based vEPC for cloud networks and the superior flexibility of cloud deployments further drive this segment.

The market is segmented by end user into telecom operators, enterprises (BFSI, IT, travel & consumer, media & entertainment, healthcare, and others), and other end users. Telecom operators are expected to hold the largest market share in 2024, driven by the adoption of vEPC solutions to improve latency issues and enhance IT agility, the need for better speed and bandwidth connectivity, and the reduction of operational and capital expenditures. Companies like NEC Corporation are partnering with NTT DOCOMO to create flexible and scalable 5G networks, maximizing their market shares.

Geographically, the market includes North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate in 2024, attributed to the adoption of vEPC solutions to enhance network infrastructure, the proliferation of advanced networking and communication technologies, the demand for cloud-based services, and government support for 5G infrastructure development. Asia-Pacific is projected to register the highest CAGR, driven by the increasing number of mobile subscribers, growing mobile data traffic, adoption of network function virtualization solutions, and deployment of 5G-ready cloud core and NFVI solutions.

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Galvanized Steel Market Forecast to Reach $216.2 Billion by 2031

Meticulous Research® reports that the galvanized steel market is projected to reach $216.2 billion by 2031, growing at a CAGR of 9.9% from 2024 to 2031. The market volume is anticipated to reach 240.8 million tons by 2031, growing at a CAGR of 9.2% during the same period. Key factors driving this growth include increasing infrastructure investments and rising demand within the construction industry. However, the market's growth may be restricted by raw material price volatility and regulatory compliance challenges.

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Advancements in galvanized steel manufacturing technology are expected to create new opportunities for market growth. However, high manufacturing costs continue to be a significant challenge. The market is segmented into hot-dipped galvanized steel and electro-galvanized steel, with hot-dipped galvanized steel expected to hold over 75.0% of the market share in 2024. This segment's dominance is attributed to its environmental and economic benefits, including long-term corrosion prevention and reduced maintenance needs.

The market's application segments include building and construction, shipbuilding, automotive, white goods, and other appliances. The building and construction segment is forecasted to hold the largest market share, over 45.0%, in 2024. This is due to galvanized steel's benefits, such as protecting structures from environmental corrosion and being a cost-effective, low-maintenance option. Conversely, the white goods segment is expected to register the highest CAGR, driven by the extensive use of steel in manufacturing appliances like refrigerators and washing machines.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is anticipated to dominate the market in 2024, with a share exceeding 47.0%. The region's growth is driven by rapid industrialization and urbanization in countries like China, India, and Southeast Asia, leading to increased demand for construction materials. The booming automotive sector and technological advancements in galvanizing processes also contribute to market expansion. Asia-Pacific is projected to achieve the highest CAGR of 11.5% during the forecast period.

Key players in the galvanized steel market include ArcelorMittal S.A. (Luxembourg), POSCO (South Korea), Nippon Steel Corporation (Japan), JFE Holdings, Inc. (Japan), ThyssenKrupp AG (Germany), NS Bluescope Steel Limited (Australia), JTL Infra Ltd. (India), Hesteel Group Company Limited (China), Hyundai Steel Co., Ltd (South Korea), Dongkuk Steel Group (South Korea), NLMK Group (Russia), Tata Steel Limited (India), FIW Steel Sdn. Bhd. (Malaysia), Anshan Iron and Steel Group Corporation (China), and Galvaco Industries Sdn. Bhd. (Malaysia).

In recent industry developments, Nippon Steel Corporation and ArcelorMittal S.A. announced a joint venture in June 2022, investing around USD 1.1 billion to build advanced steel processing lines in India. This project at AM/NS India's Hazira plant includes a cold-rolling mill and a hot-dip galvanizing line with a combined annual processing capacity of 2 million tons. Additionally, POSCO began constructing a plant in China in January 2022 to produce galvanized steel sheets for the automotive industry, with a capacity of 900,000 tons. These initiatives are expected to bolster the growth of the galvanized steel market in the Asia-Pacific region.

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Silicone Elastomers Market Set to Hit $15.1 Billion by 2031: Trends and Challenges

According to Meticulous Research®, the silicone elastomers market is on track to reach $15.1 billion by 2031, growing at a CAGR of 7.9% from 2024 to 2031. This impressive growth is driven by the increasing application of silicone elastomers in medical devices, advancements in material science, and high demand in the electrical & electronics industry. Despite these positive factors, the market's growth is restrained by environmental concerns, sustainability issues, and stagnant growth in developed regions. However, opportunities arise from the integration of silicone elastomers with IoT devices and the increasing demand for these materials in the automotive sector. A significant challenge for the market is the volatility in raw material prices.

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The silicone elastomers market is segmented by type into room-temperature vulcanize (RTV), liquid silicone rubber (LSR), and high-temperature vulcanize (HTV). In 2024, the HTV segment is expected to lead with over 52% of the market share, driven by technological advancements in manufacturing and the growing demand in industries such as automotive, aerospace, healthcare, and electronics. The HTV segment's growth is attributed to its use in high-temperature applications and the manufacture of gaskets, seals, and engine components. Meanwhile, the LSR segment is projected to experience the highest CAGR during the forecast period, fueled by innovations in material science and the demand for biocompatible materials.

In terms of processes, the market is categorized into extrusion, molding, calendering, and other processes. The molding process segment is expected to dominate in 2024 with a share of over 45%. This segment's growth is driven by the increasing demand for LSR injection molding for complex parts and technological advancements in molding processes. The need for mass production of silicone elastomer parts across various industries further supports the segment's expansion. Additionally, the molding process segment is anticipated to register the highest CAGR during the forecast period, thanks to ongoing innovations in material science.

The market's end-use industries include automotive, aviation & aerospace, consumer goods, electrical & electronics, healthcare, energy, industrial machinery, construction, and other sectors. The electrical & electronics segment is expected to hold the largest share of above 35% in 2024, driven by the use of silicone elastomers in manufacturing components such as power supplies, circuit boards, and LED lighting. The healthcare sector, however, is projected to register the highest CAGR, driven by the demand for biocompatible materials and the use of silicone elastomers in medical devices and implants.

Geographically, the silicone elastomers market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to lead the market with over 53% of the market share. This growth is driven by rapid economic development in countries like China and India, the expanding healthcare sector, and increased government investments in infrastructure projects. The region's status as a major manufacturing hub for industries using silicone elastomers further drives market growth. Additionally, Asia-Pacific is projected to achieve the highest CAGR of over 9% during the forecast period.

Key players in the silicone elastomers market include Momentive Performance Materials, Inc. (U.S.), China National Bluestar (Group) Co, Ltd. (China), The Dow Chemical Company (U.S.), Shin-Etsu Chemical Co., Ltd. (Japan), Wacker Chemie AG (Germany), DuPont de Nemours, Inc. (U.S.), Specialty Silicone Products, Inc. (U.S.), Reiss Manufacturing, Inc. (U.S.), MESGO S.p.A.(Italy), Rogers Corporation (U.S.), Stockwell Elastomerics, Inc. (U.S.), Zhejiang Xinan Chemical Industrial Group Co., Ltd. (China), Marsh Bellofram Group of Companies (U.S.), Cabot Corporation (U.S.), and CHT Germany GmbH (Germany).

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