Network Function Virtualization Global Market – Overview
Network Functions Virtualization (NFV) is a core structural change in the way telecommunication infrastructure gets deployed. Network functions virtualization (NFV) describes standards for compute, storage, and networking resources which can be used for building virtualized network functions. It refers to the combination of hardware and software network features in a single virtual network. It also aims to address the problems by evolving standard IT virtualization technology to consolidate many network equipment types onto industry standard high volume servers, switches and storage.
According to a recent study report published by the Market Research Future, The Global Market of Network Functions Virtualization is growing rapidly, continuing this growth further the market is expected to grow at USD ~19 Billion by 2022, at ~31% of CAGR between 2016 and 2022.
The Network Function Virtualization Market is showing rapid growth in the near future. The study indicates that, the increased adoption of internet of things (IoT), growing popularity of digitization is the factors driving the network function virtualization market. Also, the increasing demand for data intensive applications and need of cloud based services is driving the network function virtualization market. The network function virtualization enables operators to reduce the needs to purchase customized hardware instead pay-as-you-grow model thus reducing the CapEx. The network function virtualization benefits by reducing OpEx, accelerating time to market by reducing the time to deploy. The study reveals that the major challenge for the network function virtualization market would be, network function virtualization environments are more dynamic than traditional ones, which might require scaling up with additional features to cope.
Network Function Virtualization Global Market – Synopsis
One of the recent trends gaining significant traction in the market is the increasing adoption of NFV by enterprises. Initially, telecom operators were the dominant adopters of NFV, but the market for NFV is expected to move towards enterprise cloud and internet service providers over the coming years. Private cloud is also one of the proposed areas for NFV deployment. For the private cloud to be more agile, network services have to be provisioned on-demand through NFV. With increased innovations towards identifying the cost effective and efficient NFV solutions for enterprise data center environment, these deployment models in the cloud will boost this market’s growth during the forecast period.
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The prominent players in the Network function virtualization market are Accenture PLC (Ireland), Juniper Networks (U.S.), Alcatel-Lucent S.A. (France), Cisco Systems, Inc. (U.S.), Huawei technologies Co. Ltd. (China), Nokia Corporation (Finland), Intel Corporation (U.S.), NEC Inc. (Japan), Amdocs Inc. (U.S.), Connectem Inc. (U.S.), Ericsson (Sweden), 6WIND (France), Oracle Corporation(U.S.), Open Wave Mobility Inc. (U.S.), Allot communications (U.S.) among others
Network Function Virtualization Market – Regional Analysis
The regional analysis of Network function virtualization is being studied for region such as Asia pacific, North America, Europe and Rest of the World. It has been observed that North America is dominating the Network function virtualization market owing to a significant move from proof of concepts to commercial deployment of NFV by the telecom operators, which will drive the network function virtualization market growth. The study indicates that regions witnessing migration to 5G will drive the need of deploying network function virtualization (NFV).
Network Function Virtualization Global Market – Segments
The NFV Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
- Segmentation by Application: Comprises Switching Elements, Traffic Analysis, Next Generation Signaling, and others.
- Segmentation by Deployment: Comprises Cloud, On-premise.
- Segmentation by Infrastructure: Comprises Hardware Resources, Virtualized Resources.
- Segmentation by End-User: Comprises CSP, BFSI, Cloud Service Provider.
- Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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- Technology investors
- Key market innovators
- Venture capitalists
- Private equity groups
- Telecom service providers
- Internet service providers
- Cloud service providers
- Research/Consultancy firms
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