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(Wireless-NewsWire.Com, October 05, 2018 ) The global network function virtualization market generated USD 3.8 billion in 2017 and is anticipated to grow at a CAGR of 47.1% during the forecast period.
Network function virtualization involves abstraction of network functions such as firewall or encryption, and installing, controlling, and manipulating them through software running on standardized compute nodes. Network function virtualization incorporates cloud and virtualization technologies to offer network services with improved speed, scalability and automation.
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The increasing penetration of mobile devices, and growing demand for mobility has increased the demand for network function virtualization across the globe. The increasing mobile subscriber base, growing internet penetration, and increased network complexity supports the growth of the network function virtualization market. The varied traffic pattern, and growing demand for cloud services have boosted the growth of the global network function virtualization market. The increasing trend of BYOD, IOT, cloud, virtualization, and big data analytics has further increased the adoption of network function virtualization. The increased adoption of private cloud, growth in the wireless industry, and technological advancements would provide growth opportunities in the network function virtualization market in coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Network Function Virtualization Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America generated the highest revenue in 2017 owing to increasing demand for mobility services. Businesses are moving towards BYOD, IoT, and big data analytics thereby increasing the need for network function virtualization in the market.
Competitive Landscape and Key Vendors
The global network function virtualization market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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The major players in the network function virtualization market include Juniper Networks, Inc., Brocade Communications Systems, Inc., Cisco Systems, Inc., Intel Corporation, Big Switch Networks, Inc., NEC Corporation, Hewlett Packard Enterprise Co., AT&T Inc, Citrix Systems, Inc., and Oracle Corporation.
Key Segments
Component
• Hardware
• Software
• Services
Organization Size
• Large Enterprises
• Small and Medium Businesses
Deployment Model
• On-Premise
• Cloud-Based
End-User
• BFSI
• Healthcare
• Retail
• IT and Telecom
• Manufacturing
• Others
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
Middle East and Africa.
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