Rising need for advanced network management systems to handle the increased network traffic and complexities drives the demand for network function virtualization market
The Global Network Function Virtualization (NFV) market size is anticipated to reach 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.
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.
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.
The report also throws light on various aspects of the global network function virtualization market by assessing the market using value chain analysis. The report covers several qualitative aspects of the network function virtualization market industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global network function virtualization market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global network function virtualization 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 market applications, 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 network function virtualization market in North America.
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.
Segment Overview of 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