Virtual Router Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Virtual Router Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global virtual router market size reached US$ 220.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 745.4 Million by 2028, exhibiting a growth rate (CAGR) of 21.7% during 2023-2028.

A virtual router is a scalable and flexible software-based routing framework that enables the host machine to operate as a conventional hardware router over a local area network. It is identified with a unique virtual router identifier (VRID) that is present at the last byte of the address. As it can lower hardware costs and help develop new applications rapidly and process packets in real-time, a virtual router finds extensive applications in the telecommunications industry across the globe.

Virtual Router Market Trends:
At present, there is a considerable increase in the adoption of virtual routers by communication service providers (CSPs). This in confluence with the rising popularity of software-defined networking (SDN) and network functions virtualization (NFV), represents one of the key factors bolstering the market growth. Moreover, virtual routers assist in developing, prototyping, and testing new communication subsystems. These routers can also aid in distance learning and are consequently utilized as tools that enable students to perform virtual experiments. This, coupled with the rapid expansion of data centres, is catalysing the demand for virtual routers around the world. Apart from this, these routers provide increased network speed, faster acquisition of data, and safer storage networks. In addition, they help reduce the total cost of ownership (TCO) by lowering capital expenditures (CAPEX) and operating expenses (OPEX) of businesses from different industry verticals. These product benefits, along with technological advancements, including the implementation of virtual router redundancy protocol (VRRP) to separate traffic and improve network security, are strengthening the market growth. Other factors, such as improving 5G infrastructure and the increasing requirement for cloud-based services worldwide, are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global virtual router market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type and end user.

Breakup by Component:

Solution
Service

Breakup by Type:

Pre-defined
Custom

Breakup by End User:

Service Provider
Enterprise

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 6WIND, Allied Telesis Inc., Arista Networks Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., International Business Machines Corporation, Juniper Networks Inc., Nokia Corporation, Palo Alto Networks Inc. and ZTE Corporation.

Key Questions Answered in This Report

1. What was the size of the global virtual router market in 2022?
2. What is the expected growth rate of the global virtual router market during 2023-2028?
3. What are the key factors driving the global virtual router market?
4. What has been the impact of COVID-19 on the global virtual router market?
5. What is the breakup of the global virtual router market based on the component?
6. What is the breakup of the global virtual router market based on the type?
7. What is the breakup of the global virtual router market based on the end user?
8. What are the key regions in the global virtual router market?
9. Who are the key players/companies in the global virtual router market?