The global Network Function Virtualization (NFV) market size is anticipated to reach at USD 41 billion by 2025. The key factors responsible for the growth of the industry include the increasing need for developed network management systems to manage the increasing network complexities and traffic. NFV uses automated as well as manual techniques along with reviewing minute-level data within the network traffic.
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The enterprise network comprises hundreds of network devices that include switches, workstations, hubs, routers, firewalls, virtual machines, servers, and different other network-related components. Maintaining and managing these devices requires network function virtualization solutions since the tools can provide insights into bandwidth consumption, network traffic, protocol analysis, and business applications. Different types of solutions are used in identifying threats, detection, and moderation of security attacks, along with better planning of the network in the future.
Key Segments of the Global Network Function Virtualization Market
Component Overview, 2018-2025 (USD Billion)
- Hardware
- Software
- Services
Function Overview, 2018-2025 (USD Billion)
- Compute
- Storage
- Network
End-user Overview, 2018-2025 (USD Billion)
- Service Providers
- Data Centers
- Enterprises
- BFSI
- IT & Telecom
- Government
- Healthcare
- Retail
- Energy
- Manufacturing
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global NFV market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global NFV market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the NFV industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on components, function, and end-user. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global NFV market. The report will benefit:
- Every stakeholder involved in the NFV market.
- Managers within the Tech companies looking to publish recent and forecasted statistics about the global NFV market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global NFV market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
From hundreds to thousands of hubs to switched networks, computers, and Ethernet up to 10 Gbps, the administrator has to manage the network and require more network traffic analysis and monitoring to deal with the growing network activities proficiently. NFV is anticipated to substitute the traditional network functions such as the DNS, DHCP, and IPAM due to the enhanced performance and decreasing expenses of the telecom service providers. Moreover, technological developments aimed at managing folders, images, files, and programs from a single physical site are projected to augment the NFV industry demand. Huge investments for the commercialization of 5G networks are likely to boost the need for NFV solutions. On the other hand, the implementation of virtualization solutions shall help to improve 5G networks' architectural and operational viability including reduced capital expenditure and enhance agility.
Component Segment
Based on the component segment, the market is bifurcated into hardware, software, and services. The hardware segment of the component to experience a significant growth rate within the global NFV market owing to the heavy usage of hardware equipment that includes storage devices, servers, and switches. To support the diverse network requirements of businesses, they will need high-performance virtual routers, and switches, which play an essential role in the IT system and facilitate flexible and robust NFV structure.
Function Segment
Based on the component segment, the market is bifurcated in compute, storage, and services. The compute segment to experience a significant growth rate within the global NFV market primarily due to the growing demand for data analysis as well as the growing demand for a higher degree of automation.
End-user Segment
Based on the industry, the market is segmented into BFSI, IT & telecom, government, healthcare, retail, energy, manufacturing, and others. The market for IT & telecom is anticipated to possess the largest market share in 2019 since organizations today are predominantly developing to match their user needs. There is a massive requirement of servers to manage and store an enormous amount of data within the IT and telecom sector and is projected to boost the industry growth in the coming future.
The global NFV market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the network function virtualization application, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the NFV market in North America.
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The major players of the global NFV market are Cisco, Ericsson, Huawei, VMware, Nokia, HPE, Dell EMC, Juniper Networks, Affirmed Networks, NETSCOUT, NEC, Ribbon Communications, ZTE Corporation, and more. The NFV market is fragmented with the existence of well-known global and domestic players across the globe.