Network Function Visualization Market By Covid-19 Impact Outlook to 2028

Posted by khape dipali on May 20th, 2021

Network functions virtualization (NFV) is a way to virtualize network services, such as routers, firewalls, and load balancers, that have traditionally been run on proprietary hardware. These services are packaged as virtual machines (VMs) on commodity hardware, which allows service providers to run their network on standard servers instead of proprietary ones. With NFV, you don’t need to have dedicated hardware for each network function. NFV improves scalability and agility by allowing service providers to deliver new network services and applications on-demand, without requiring additional hardware resources.

The Global Network Function Virtualization market size is expected to grow from XX billion USD in 2019 to XX billion USD by 2026, at a CAGR of xx.x% during the forecast period. The network function virtualization market is showing a rapid growth in the near future, owing to increased adoption of the internet of things (IoT), and the growing popularity of digitization. The decrease in capital and expenditure is a major advantage offered by network function virtualization. Increased in the deployment of virtualized software among enterprise data centres, including cloud & internet service providers, drives the growth of the market. Demand for data incentive applications is rising, along with the need for cloud-based services which are expected to open new opportunities for market. But delay in the adoption of these technology affects the growing market.

Key players operating in the network function virtualization market are Broadcom, Huawei, Ericsson AB, VMware, AT&T, Nokia Corporation, A10 Networks, HP, Citrix, Riverbed, 6Wind, Verizon, Pluribus, Arista, Amdocs, Cisco, Oracle, IBM, Red hat, Trend Micro, Intel Corporation and NFware. These players are adopting new strategies for expanding their market share in the global network function virtualization market through mergers and acquisitions, joint ventures, and expansions. In addition, they are investing huge capital in research and development activities and innovation centres in order to expand their production capacities and meet the market’s growing demands. Open NFV and strong partnerships are predicted to strengthen their market positions and generate revenue.

Analysts Commentary:

Companies operating in the NFV market are adopting product development strategy to meet the needs of various customers and to target untapped markets. The deployment of NFV is prevalent across BFSI, retail, manufacturing, and healthcare verticals. Intel Corporation developed a technology that enables modems to act as virtual servers. Network function virtualization adopts the concept of virtualization and providing the benefit to telecommunication application infrastructure. Network function visualization supports software defining network (SDN) by providing the infrastructure upon which SDN software can be run. The global market shows immense potential because of the presence of certain trends and due to the cost benefits and high flexibility provided by b the network solutions.
AT&T added new network connectivity options and new security applications to its AT&T FlexWare NFV solution. With this release, the solution got enabled with connectivity options including Ethernet, VPN, and dedicated internet as well as broadband. VMware expanded its partnership with Nokia in November 2019, to simplify large-scale, multi-cloud operations. This partnership also aims at increasing investments, along with technology collaboration and advanced research. Ericsson collaborated with NVIDIA in 2019, to provide 5G radio access networks (RAN). Under this collaboration, both the companies will focus on developing the technologies that will enable communication service providers to build virtualized 5G RAN, which will help to introduce more AI and IoT based services.

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Segmentation:

The Global Network Function Virtualization market is segmented on the basis of component, application, organization size, deployment, and end-user. On the basis of component, it is divided into software, hardware, and services. Hardware accounted for the highest share in the global network function virtualization market. The application segment is further categorized into switching elements, security function, service assurance, next-generation signalling, and others.
The organization size is divided into large enterprises and small and medium businesses. The large enterprise's segment dominated the global market. The growing penetration of mobile devices and increasing demand for mobility boost the adoption of network function virtualization in this segment. The deployment segment is further categorized into on-premise, and cloud-based. The end-user segment is categorized into BFSI, Manufacturing, Retail, Healthcare, IT and Telecom, and others.

Regional Analysis:

Region-wise, the network function virtualization market is segmented across North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The U.S. is a crucial contributor to the growth of network function virtualization due to the superior technological infrastructure in the country. The market is primarily driven by the commercial deployment of NFV by telecom operators such as AT&T, Telefonica, Verizon, and Century Link.

APAC consists of major economies, such as China, India, Japan, Australia, and South Korea. Increasing demand and popularity in China and India are expected to drive growth across the Asian market. The increasing penetration of mobile devices, growing demand for mobility, and increasing adoption of cloud technologies would drive the market growth in this region. Rapid adoption of 4G and 5G technology in APAC region, owing to the increasing subscriber base, favourable policies and regulations, and demand for data storage and security. These all factors are driving the market for NFV.

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