Network function virtualization Market By Component (Hardware, Software, Services), By Enterprise Size (Large Enterprises, SMEs), By End User (Service Providers, Data Centers, Enterprises): Global Opportunity Analysis and Industry Forecast, 2021-2031
Network Function Virtualization (NFV) is a way to reduce cost and accelerate service deployment for network operators by decoupling functions such as a firewall or encryption from dedicated hardware and moving them to virtual servers. Instead of installing expensive proprietary hardware, service providers can purchase inexpensive switches, storage and servers to run virtual machines that perform network functions. This collapses multiple functions into a single physical server, reducing costs and minimizing truck rolls. The virtualization of network functions reduces dependency on dedicated hardware appliances for network operators, and allows for improved scalability and customization across the entire network.
Further, virtualized network function is flexible and dynamic solution that is often cloud-based and can be deployed anywhere in the network. Moreover, the flexibility of virtualized network function offers a secure infrastructure for hybrid and multi-cloud environments, where information and data migrate around a complex ecosystem involving various vendors. In addition, the rise in incorporation of artificial intelligence-based infrastructure in BFSI, IT & telecommunication, and government sectors in acting as a prime driver for the market growth.
Factors such as rise in adoption of NFV to reduce complexity, ease management and rapid advancement and accelerating digitalization in businesses fuel the growth of the market. In addition, increase in deployment of virtualized software among enterprises including data center and service provider drive the growth of the market. Furthermore, increase in adoption of emerging technologies such as 5G and Edge computing and rise in demand for cloud-based services is expected to provide lucrative growth opportunities for the market in the upcoming year. However, security issue and lack of standards hamper the market growth.
The network function virtualization (NFV) market is segmented on the basis of component, enterprise size, end user, and region. By component, it is bifurcated into hardware, solution and services. On the basis of enterprise size, it is categorized into large enterprises and SMEs. By end user, it is segregated into service providers, data centers and enterprises. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the network function virtualization (NFV) market, which includes Affirmed Networks, Ciena, Cisco Systems, Inc., Comba telecom systems, Dell EMC, ECI Telecom, Ericsson, Fujitsu Limited, Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., NEC Corporation, Mavenir, NETSCOUT, Nokia Corporation, VMware, Inc., Wind River Systems, Inc. and ZTE Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which drive growth of the network function virtualization (NFV) market globally.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the network function virtualization market analysis from 2021 to 2031 to identify the prevailing network function virtualization market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the network function virtualization market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global network function virtualization market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
Hardware
NFV Servers
Storage
Switches
Software
Services
Professional Services
Managed Services
By Enterprise Size
Large Enterprises
SMEs
By End User
Service Providers
Data Centers
Enterprises
IT and Telecom
Consumer Goods and Retail
BFSI
Government and Defense
Healthcare
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Cisco Systems, Inc.
Ericsson
Huawei Technologies Co., Ltd.
VMware, Inc.
Nokia Corporation
Hewlett Packard Enterprise Company
DELL EMC
Juniper Networks, Inc.
ZTE Corporation
FUJITSU LIMITED
Comba Telecom Systems
Affirmed Networks
NetScout Systems, Inc.
Wind River Systems, Inc.
ECI Telecom
Mavenir
Ciena Corporation
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