The Report "Network Function Virtualization (NFV) Market by Component (Solutions, Orchestration and Automation, and Professional Services), Virtualized Network Function, Application (Virtual Appliance and Core Network), End User, and Region - Global Forecast to 2024", published by MarketsandMarkets, the global NFV market size is expected to grow from USD 12.9 billion in 2019 to USD 36.3 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 22.9% during the forecast period.
The demand for network virtualization and automation and emergence of cloud services, data centers consolidation, and server virtualization are some of the major drivers of this market.
Browse 98 market data Tables and 44 Figures spread through 158 Pages and in-depth TOC on "Network Function Virtualization (NFV) Market”
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Enterprise customers are rapidly adopting NFV architecture, as it offers significant benefits such as improved network efficiency through centralized management, enhanced IT agility, and network customization through fast and reliable application services. These customers have been categorized into various verticals, including Banking, Financial Services, and Insurance (BFSI), manufacturing, retail, healthcare, education, IT-enabled services, and government and defense. In the present scenario, the deployment of NFV is prevalent across IT-enabled services, BFSI, and retail verticals.
Implementation services add value to the network infrastructure of businesses. These services assist end users in optimizing their network operations effectively. In addition to this, they help enhance service delivery and manage network performance monitoring and management costs. They support companies in efficiently deploying and managing the implementation of new solutions. NFV vendors are also providing migration services that play a vital role in integrating and deploying NFV.
End users such as telecom service providers face a skills gap when it comes to implementing NFV, thereby paving the way for new players with niche capabilities in executing virtual networks. These players offer implementation services, which include the implementation of NFV solutions in users’ infrastructure. With the increasing awareness of the capabilities of various vendors in the NFV market among end users, the demand for implementation services is expected to increase. As already witnessed, with the move toward LTE and 5G spectrum, NFV has already become the invariable choice of network architecture for most end users. Some of the leading NFV implementation service providers are Huawei, Nokia, and Cisco.
Based on regions, North America is expected to lead the NFV market during the forecast period. It is a market with high growth potential in NFV. The NFV market in North America is aided by the early and fast adoption of technologies, such as cloud computing, Software-Defined everything (SDx), and IoT. High industrialization in countries such as the US and Canada has always been a positive factor for aiding fast growth in various business verticals. The countries in North America have favorable standards and networking regulations that help in boosting the NFV market growth. North America is a home for numerous NFV infrastructure providers, including Cisco, IBM, Juniper Networks, and Extreme Networks. It is also a potential market for investment opening up new opportunities for the adoption of NFV infrastructure. Due to increased 5G deployments, the adoption of NFV is increased in the region. However, in NFV, the control of the whole network is with the controller; hence, the deployment requires various organizational, functional, and cultural changes within organizations.
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Major NFV vendors providing a host of solutions and services include Cisco (US), Ericsson (US), Huawei (China), VMware(US), Nokia (Finland), HPE (US), Dell EMC (US), Juniper Networks (US), Affirmed Networks (US), NETSCOUT (US), NEC (Japan), Ribbon Communications (US), ZTE Corporation (China), Fujitsu (Japan), Ciena (US), ECI Telecom (Israel), Metaswitch (UK), Mavenir (US), Radisys (US), and Wind River (US). The study included an in-depth competitive analysis of these key players, along with their company profiles, recent developments, and key growth strategies.
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Industry InsightA report by Marker Research Future (MRFR) estimates the global Network Function Virtualization Market analysis 2020 to surge at a 31% CAGR during the forecast period 2016-2022.
The businesses are rapidly embracing network virtualization solutions as they encourage faster server provisioning and quick deployment of network services.
Request a Free Sample @ https://www.marketresearchfuture.com/sample_request/2455 The network function virtualization market is observed to be highly competitive with the incidence of large-scale as well as small-scale global and other vendors.
Such a cut-throat environment is estimated to further intensify new entrants in the market, which is chiefly motivated by technological upgrades of existing services.Top Market ContendersThe well-known players in the Network function virtualization market are listed as Juniper Networks (U.S.), Accenture PLC (Ireland), Cisco Systems, Inc. (U.S.), Alcatel-Lucent S.A. (France), Nokia Corporation (Finland), Huawei Technologies Co. Ltd. (China), NEC Inc. (Japan), Intel Corporation (U.S.), Connectem Inc. (U.S.), Amdocs Inc. (U.S.), 6WIND (France), Ericsson (Sweden), Open Wave Mobility Inc. (U.S.), Oracle Corporation(U.S.), an Oracle Corporation(U.S.),d Allot communications (U.S.).Segmentation of Market: Network Function VirtualizationThe study of global Network Function Virtualization has been conducted over the segments of application, deployment, infrastructure, and end-user.Network function virtualization market by Application segment has included next-generation signaling, switching elements, traffic analysis, and service assurance.The network function virtualization market by the Deployment segment has included on-premise and cloud.The network function virtualization market by infrastructure segment has included the virtualization layer and hardware resources.The network function virtualization market by the end-user segment has included cloud service providers, virtualized resources, information technology, the communication service provider (CSP), and BFSI.Regional OutlookThe geological analysis of Network function virtualization is being considered for the key regions such as Asia Pacific, North America, Europe, and the Rest of the World.
The study observed that North America is leading the Network function virtualization market in support of an unusual move from concepts to commercial deployment of NFV by the telecom operators, which will compel the network function virtualization market growth in the future.
Also, the North America region is expected to retain its position over the forecast period, thus creating extensive opportunities for market players.
Network Function Virtualization Market, By Application (Switching Elements, Traffic Analysis, Next Generation Signaling), Deployment (Cloud, On-premise), By Infrastructure (Hardware Resources, Virtualized Resources), By End-User (CSP, BFSI, Cloud Service Provider) - Forecast 2022Industry InsightA report by Marker Research Future (MRFR) estimates the global Network Function Virtualization Market analysis 2020 to surge at a 31% CAGR during the forecast period 2016-2022.
The businesses are rapidly embracing network virtualization solutions as they encourage faster server provisioning and quick deployment of network services.
The SMEs are anticipated to observe a heavy usage of virtualization solutions as they enable consolidation of server & applications and advance disaster recovery.
All these factors are liable for the growth of the market in the forecast period.The network function virtualization market is observed to be highly competitive with the incidence of large-scale as well as small-scale global and other vendors.
Such a cut-throat environment is estimated to further intensify new entrants in the market, which is chiefly motivated by technological upgrades of existing services.Segmentation of Market: Network Function VirtualizationThe study of global Network Function Virtualization has been conducted over the segments of application, deployment, infrastructure, and end-user.Network function virtualization market by Application segment has included next-generation signaling, switching elements, traffic analysis, and service assurance.The network function virtualization market by the Deployment segment has included on-premise and cloud.The network function virtualization market by infrastructure segment has included the virtualization layer and hardware resources.The network function virtualization market by the end-user segment has included cloud service providers, virtualized resources, information technology, the communication service provider (CSP), and BFSI.Regional OutlookThe geological analysis of Network function virtualization is being considered for the key regions such as Asia Pacific, North America, Europe, and the Rest of the World.
The study observed that North America is leading the Network function virtualization market in support of an unusual move from concepts to commercial deployment of NFV by the telecom operators, which will compel the network function virtualization market growth in the future.
