The global network function virtualization market revenue was around US$ 21.95 billion in 2021 and is estimated to reach US$ 180.70 billion by 2031, growing at a compound annual growth rate (CAGR) of 23.8% during the forecast period from 2022 to 2031.
Network Function Virtualization (NFV) is a network that deals with virtual networks which combine hardware and software. It helps to reduce power consumption, which lowers equipment costs and helps to optimize networks and related activities. It makes it easier for many apps to be accessed from a single network appliance.
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Factors Influencing Market Growth
The market is growing due to factors such as the increased use of NFV in enterprises to speed up innovation, simplify management, and reduce complexity.
The network function virtualization market is expanding due to an increase in the adoption of virtualized software by businesses, including data centers and service providers.
Rising demand for cloud-based services and increased use of advanced technologies like 5G and Edge computing are predicted to create various growth opportunities for the industry.
Lack of standards and security concerns may limit market expansion.
Study of the COVID-19 Pandemic
During the COVID-19 pandemic, the network function virtualization market is predicted to expand quickly due to the expected shifts in consumer behavior, buying habits, and market dynamics. Even if the market experienced a tiny decline in the first half of the period, it is anticipated to develop even more in the years to come. Furthermore, it is projected that network function virtualization would significantly impact the IT industry. Since it provides a variety of network functions, such as load balancing, firewalls, IP multimedia subsystems, mobile cores, security, routing, or video, network function virtualization has been extremely beneficial for numerous businesses throughout the pandemic. Additionally, it lowers expenses and enhances resource management and scalability for an organization. As a result, a lot of businesses are deploying infrastructure for network function virtualization.
Regional Insights
North America dominated the market share for network function virtualization in 2021. Businesses in this region are making investments in advanced technology to adopt more efficient work procedures. The quick and early adoption of technologies like software-defined everything (SDx), cloud computing, and IoT has helped the NFV market in North America. This region’s market growth is accelerated by favorable standards and networking laws.
Asia Pacific is expected to see the highest growth during the projection period. The area offers a strong IT infrastructure and reliable software and service options. Additionally, the industry in this region is growing as cloud-based services become more widely used.
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Leading Competitors
The leading competitors in the global network function virtualization market are:
Cisco Systems, Inc
Ericsson
Huawei Technologies Co., Ltd
VMware, Inc
Nokia Corporation
Hewlett Packard Enterprise Company
Dell EMC
Juniper Networks
ZTE Corporation
Fujitsu Limited
Comba Telecom Systems
Affirmed Networks
NetScout Systems
Wind River Systems
ECI Telecom
Mavenir
Ciena Corporation
Others
Segmentation Analysis
The global network function virtualization market segmentation focuses on Component, Enterprise Size, End User and Region.
Segmentation based on Component
Hardware
o NFV Servers
o Storage
o Switches
Software
Services
o Professional Services
o Managed Services
Segmentation based on Enterprise Size
Large Enterprises
SMEs
Segmentation based on End User
Service Providers
Data Centers
Enterprises
o IT and Telecom
o Consumer Goods and Retail
o BFSI
o Government and Defense
o Healthcare
o Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Table of Content
Chapter 1: Global Network Function Virtualization Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Network Function Virtualization market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Network Function Virtualization Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Network Function Virtualization market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Network Function Virtualization market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Network Function Virtualization market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Network Function Virtualization market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Network Function Virtualization business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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