Network Function Virtualization (NFV) Market -Share, Growth, Trends, Covid-19 Impact, And Forecast (2020- 2027)
Industry Insight
A
report by Marker Research Future (MRFR) estimates the Network
Function Virtualization (NFV) Market analysis 2020 to
surge at a ~31% CAGR during the forecast period 2020-2027. At this rapidity,
the opportunities in the worldwide induction motors market are estimated to
swell up with a high valuation of USD ~19 Billion by the end of the year 2027.
Top Market Drivers
The
Network Function Virtualization (NFV) Market is likely to witness a sharp
growth as network virtualization technologies that enable enterprises to
eliminate the costs associated with the procurement and maintenance of hardware
equipment. The technologies assist in delivering network services in a more
scalable way compared to the conventional networking approach. 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. Thus,
by deploying such solutions, they can even handle multiple workloads with
maximum uptime and improved performance in an efficient way.
On
the same side, the rapid investments for the commercialization of 5G networks
also can drive the demand for Network Function Virtualization solutions. The
implementation of virtualization technology will also aid in augmenting the 5G
network’s functional and architectural viability, which includes surged agility
and reduced capital expenditure. All these factors are liable for the growth of
the market in the forecast period.
The
Network Function Virtualization (NFV) Market is observed to be highly
competitive with the incidence of large-scale as well as small-scale global and
other vendors. All the companies and their race against each other to raise
respective shares of revenue in the market. 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.
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Segmentation of Market: Network
Function Virtualization
The
study of global Network Function Virtualization has been conducted over the
segments of application, deployment, infrastructure, and end-user.
Network
Function Virtualization (NFV) Market by Application segment has included
next-generation signaling, switching elements, traffic analysis, and service
assurance.
The
Network Function Virtualization (NFV) Market by the Deployment segment has
included on-premise and cloud.
The
Network Function Virtualization (NFV) Market by infrastructure segment has
included the virtualization layer and hardware resources.
The
Network Function Virtualization (NFV) Market by the end-user segment has
included cloud service providers, virtualized resources, information
technology, the communication service provider (CSP), and BFSI.
Regional Outlook
The
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 (NFV) 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 (NFV) Market growth in the future.
The study shows that regions witnessing migration to 5G will also motivate the
need for deploying network function virtualization (NFV). Also, the North
America region is expected to retain its position over the forecast period,
thus creating extensive opportunities for market players. The U.S. is a
noteworthy contributor to the growth of network function virtualization owing
to the superior technological infrastructure. Its suitability of innovative and
niche systems such as network function virtualization, which is predictable to
experience fast growth, propelling the market in North America.
In
fact, the rising number of data centers in countries such as Mexico, Brazil,
and GCC have surged the uptake of server virtualization solutions to run
massive workloads and applications in the cloud. The mounting investments for
the development of 5G infrastructures will also fuel market growth. Saudi
Arabia, Mexico, Kuwait, and Dubai are exploring 5G technology and undertaking
live trials of 5G on speed, latency, and equipment. Consequently, telecom
operators in these regions are preparing to switch to virtualization
technologies for flexible and scalable network management.
Top Market Contenders
The
well-known players in the Network Function Virtualization (NFV) 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.).
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