Network Function Virtualization Global Market Report 2022: Increasing Demand for Cloud-Based Solutions Drives Sector - ResearchAndMarkets.com
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The global network function virtualization market is expected to grow from $ 15.28 billion in 2021 to $ 19.00 billion in 2022 at a compound annual growth rate (CAGR) of 24.3%. The network function virtualization market is expected to reach $ 42.59 billion in 2026 at a CAGR of 22.4%.
The main types of components in network function virtualization are solutions, orchestration and automation, and services. Solutions refer to a unique system that combines people, processes, information, and technologies to support a set of business or technical capabilities that solve one or more business problems.
Solution providers are hired by various industries to solve business problems. The infrastructure utilized consists of hardware resources and virtualized resources. The different applications include virtual appliances and core networks and are employed by several end users such as service providers, data centres, and enterprises.
North America was the largest region in the network function virtualization market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network function virtualization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing demand for cloud-based services is significantly contributing to the growth of the network function virtualization market going forward. Cloud refers to servers that are provided over the Internet and the software and databases that run on those servers. Network operators can get new network services dynamically using cloud solutions rather than installing new hardware.
For instance, according to the 2019 State of the Cloud Survey by Flexera, a US-based software company, out of 786 technical professionals surveyed, 94% use cloud solutions, and 69% of them are using hybrid cloud solutions. Therefore, the increase in demand for cloud-based services is driving the growth of the network function virtualization market.
Technological advancements have emerged as a key trend gaining popularity in the network function virtualization market. Major companies operating in the NFV sector are focused on developing the latest technologies to sustain their position in the market.
For instance, in February 2022, Mobileum, a US-based telecom analytics company, and VoerEir, a Sweden-based cloud technology company, partnered to create a powerful test platform for network function virtualization infrastructure. The combination of Mobileum's SITE active test solution and VoerEir's Touchstone test suite provides a vertically integrated solution that allows communication service providers to fully automate testing of services from the lab to the live network, as well as virtual and cloud-native network functions.
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1) By Component: Solutions; Orchestration And Automation; Services
2) By Infrastructure: Hardware Resources; Virtualized Resources
3) By Application: Virtual Appliance; Core Network
4) By End User: Service Providers; Data Centres; Enterprises
Key Topics Covered:
1. Executive Summary
2. Network Function Virtualization Market Characteristics
3. Network Function Virtualization Market Trends And Strategies
4. Network Function Virtualization Market - Macro Economic Scenario
5. Network Function Virtualization Market Size And Growth
6. Network Function Virtualization Market Segmentation
7. Network Function Virtualization Market Regional And Country Analysis
8. Asia-Pacific Network Function Virtualization Market
9. China Network Function Virtualization Market
10. India Network Function Virtualization Market
11. Japan Network Function Virtualization Market
12. Australia Network Function Virtualization Market
13. Indonesia Network Function Virtualization Market
14. South Korea Network Function Virtualization Market
15. Western Europe Network Function Virtualization Market
16. UK Network Function Virtualization Market
17. Germany Network Function Virtualization Market
18. France Network Function Virtualization Market
19. Eastern Europe Network Function Virtualization Market
20. Russia Network Function Virtualization Market
21. North America Network Function Virtualization Market
22. USA Network Function Virtualization Market
23. South America Network Function Virtualization Market
24. Brazil Network Function Virtualization Market
25. Middle East Network Function Virtualization Market
26. Africa Network Function Virtualization Market
27. Network Function Virtualization Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Network Function Virtualization Market
29. Network Function Virtualization Market Future Outlook and Potential Analysis
- Cisco Systems Inc
- Huawei Technologies
- Vmware Inc.
- Nokia Corporation
- The Hewlett Packard Enterprise Company
- Dell EMC
- Juniper Networks Inc.
- Affirmed Networks
- NetScout Systems Inc.
- NEC Corporation
- Ribbon Communications US LLC
- ZTE Corporation
- Fujitsu Limited
- Ciena Corporation
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First published on Thu, Dec 22, 2022
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