Network Function Virtualization Market by Component (Orchestration, Professional Services), Virtualized Network Function, Application (Virtual Appliances, Core Network), End User (Enterprises, Service Providers, Data Centers)– Global Forecast to 2027
The research report titled “Network Function Virtualization Market by Component (Orchestration, Professional Services), Virtualized Network Function, Application (Virtual Appliances, Core Network), End User (Enterprises, Service Providers, Data Centers)– Global Forecast to 2027” provides in-depth analysis of network function virtualization market in five major geographies and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2027. The Network Function Virtualization (NFV) Market is expected to reach $122 billion by 2027, growing at a CAGR of 34.9% during the forecast period of 2019 to 2027. The growth of this market is mainly attributed to the growing number of network complexities and ever-increasing demand for cloud-based services, deployment of IoT, security agility, cloud migration, increasing demand for network virtualization and automation, and need for advanced network management system are the key factors driving the growth of the network function virtualization market. However, the growing security issues in NFV and negative impact on the global economy due to COVID-19 pandemic are some of the key restraints for the growth of the network function virtualization market.
The study offers a comprehensive analysis of the global network function virtualization market with respect to components, virtualized network function, application, end-user, and geography. The global network function virtualization market is segmented on the basis of component (solution, orchestration and automation, professional services), virtualized network function (storage, compute, and network), application (virtual appliances, core network), and end-user (enterprise, service providers, and data centers). The study also evaluates industry competitors and analyses the market at a country level.
Based on component, the solutions segment is estimated to account for the largest share of the overall network function virtualization market in 2020. The large share of this segment is mainly attributed to the growing demand for network virtualization software running on standard server platforms, increasing IT productivity, and simplification of data center management. Growing significance of proper network infrastructure in small and medium scale enterprises and demand for better and affordable software and hardware for NFV is helping the solution segment to dominate the market. However, the orchestration & automation segment is expected to emerge as the fastest-growing segment throughout the forecast period.
Based on end-user, the enterprise segment is estimated to command the largest share of the overall network function virtualization market in 2020. However, the data center segment is expected to grow with the fastest CAGR over the coming years. Factors such as reduced enterprise operational costs and enhanced business agility, demand for unified and centralized management of data centers, and increase in data center complexities are supporting the rapid growth of this segment.
Geographically, the global NFV market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, North America region is estimated to command the largest share of the global network function virtualization market in 2020. However, Asia-Pacific region is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly driven by the increasing adoption of advanced technologies across a wide range of industries; supporting government initiatives across the region; and investments by major network function virtualization companies. Several major NFV solutions and service providers are considering Asia Pacific as the next growth hotspot and are trying to expand their geographic footprint by establishing businesses in countries such as China and India.
The key players operating in the global network function virtualization market are Cisco Systems Inc. (U.S.), Juniper Networks Inc. (U.S.), Affirmed Networks (U.S.), Ribbon Communication Inc. (U.S.), Fujitsu Ltd. (Japan), Huawei Technologies Co., Ltd (China), VMware Inc. (U.S.), Nokia Corporation (Finland), Ericsson AB (U.S.), Ciena Corporation (U.S.), Hewlett Packard Enterprises (U.S.), ZTE Corporation (U.S.), Radisys (U.S.), Dell EMC (U.S.), and Wind River Systems, Inc. (U.S.) among others.
Key questions answered in the report-
Which are the high growth market segments in terms of component, virtualized network function, application, end-user, and countries?
What is the historical market for network function virtualization across the globe?
What are the market forecasts and estimates from the period of 2020-2027?
What are the major drivers, restraints, and opportunities in the global network function virtualization market?
Who are the major players in the global market and what share of the market do they hold?
How is the competitive landscape in global as well as regional NFV market?
What are the recent developments in the global network function virtualization market?
What are the different strategies adopted by the major players in the market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the global network function virtualization market and how do they compete with the other players?
Scope of the report
Network Function Virtualization Market, by Component
Orchestration & Automation
Network Function Virtualization Market, by Virtualized Network Function
Network Function Virtualization Market, by Application
Mobile Edge Computing
Virtualized Radio Access Network
Virtualized Evolved Packet Core
Virtual Internet Protocol Multimedia Subsystem
Network Function Virtualization Market, by End-user
Media & Entertainment
Network Function Virtualization Market, by Region
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
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