Virtual Router Market by Component (Solution (Integrated and Standalone) and Service), Type (Predefined and Custom), End-User (Service Provider (Telecom, Data Center, and Cloud) and Enterprises), and Region - Global forecast to 2023
“The global virtual routers market size to grow at a CAGR of 23.2% during the forecast period”
The global virtual router market size is expected to grow from USD 116.8 million in 2018 to USD 331.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period. The major factors driving the growth of the virtual router market are the decrease in CAPEX and OPEX, growth in demand for SDN and NFV, and increasing need for mobility. Furthermore, growing demand for private cloud and virtual router applications across network segments are expected to provide significant growth opportunities in the market.
However, reluctance in moving from the legacy system to the virtualized environment can be one of the restraining factors in the virtual router market.
“Cloud service provider segment is expected to register the highest growth rate during the forecast period”
The service providers segment of the virtual routers market include telecom, data center, and cloud service providers. Cloud service providers are deploying virtual routers to their infrastructure to impact their operations. Virtual router as a comprehensive solution for cloud not only reduces CAPEX reduction but also increases the speed of the network with the minimal addition of physical appliances
“Asia Pacific (APAC) to register growth at the highest CAGR during the forecast period”
APAC is expected to grow at the highest CAGR in the global virtual routers market during the forecast period. Major growth factors for the market in APAC include the increasing complexities in network infrastructure, growing adoption of virtual routers solutions by service providers to optimize their networks, and a growing demand to deliver an enhanced customer experience across all the major industry verticals. North America is expected to hold the largest market size during the forecast period, owing to the growth in Research and Development (R&D) and advancements in the networking technology.
In the process to determine and verify the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
By Company Type: Tier 1 – 28%, Tier 2 – 38%, and Tier 3 – 34%
By Designation: C-Level – 52%, Director Level – 40%, and Others – 8%
By Region: North America – 40%, Europe – 25%, APAC – 30%, and RoW – 5%
Major vendors in the global virtual routers market include IBM (US), Cisco (US), Ericsson (Sweden), Huawei (China), Nokia (Finland), Juniper (US), netElastic (US), Brocade (US), HPE (US), Arista Networks (US), ZTE Corporation (China), Carbyne (Israel), Palo Alto Networks (US), Check Point Software (Israel), Ross Video (Canada), Inventum (India), Drivenets (Israel), 128 Technology (US), TRENDnet (US), Linksys (US), TIME (Malaysia), ACCESS (Japan), Allied Telesis (Japan), Connectify (US), and 6WIND (France).
The report segments the global virtual routers market by component (solution and service), type, end-user, and region. Virtual router solutions help telecom and ISP providers, system integrators, cloud service providers, mobile network operators, network solution providers, government councils, data center software providers, and IT suppliers to solve various network operation problems and optimize the network infrastructure. The type of virtual routers considered in the market are predefined and custom. Virtual router end-users are service providers and enterprises. The service providers include telecom, data center, and cloud service providers. The report covers 4 major regions: North America, Europe, APAC, and the Rest of the World (RoW).
Reasons to Buy the Report
The report helps the market leaders and new entrants in the virtual routers market in the following ways:
1. The report segments the market into various subsegments; hence, it covers the market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and its subsegments.
2. The report helps understand the overall growth of the market. It provides information on the key market drivers, restraints, challenges, and opportunities.
3. The report helps better understand competitors and gain more insights to strengthen organizations’ position in the market. In addition to this, the report presents the positioning of the key players based on their product offerings and business strategies.