The global network function virtualization (NFV) market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 28% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Network function virtualization (NFV) refers to the process of designing, deploying and managing networking services. NFV performs various networking functions, operates them from a hardware base and enables the user to run the software in virtual machines. In comparison to the traditionally used firewalling devices and routers, modern NVF solutions can be deployed on multiple hardware. It is often used along with various other services, such as domain name service (DNS), network address translation (NAT), firewalls and caching. NFV architecture consists of an element manager, virtualized infrastructure manager, orchestrator and operation support system.
Global Network Function Virtualization (NFV) Market Trends and Drivers:
- Significant growth in the banking, financial services and insurance (BFSI), healthcare, retail, manufacturing and information technology (IT) industries is one of the key factors creating a positive outlook for the market. This has increased the requirement for advanced network management and NFV systems to handle the growing network traffic and data complexities. Furthermore, widespread adoption of virtual appliances is also driving the market. They are usually based on various networking operations, such as traffic forwarding, monitoring, security, caching, intrusion detection systems and domain name service. NFV offers optimized network scalability and agility to manage the entire network and improve its overall performance, which is acting as another growth-inducing factor. It can also be integrated with the Internet of Things (IoT) and private cloud computing services for enhanced flexibility. Other factors, including the growing demand for data center consolidation and server virtualization, along with increasing investments in the 5G network technology, are expected to drive the market further.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global network function virtualization market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on offering, deployment mode, enterprise size, application, end-user and region.
Breakup by Offering:
- Orchestration and Automation
Breakup by Deployment Mode:
Breakup by Enterprise Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Application:
- Virtual Appliance
- Core Network
Breakup by End-User:
- Government and Defense
- IT and Telecom
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Affirmed Networks Inc. (Microsoft Corporation), Allot Ltd., Amdocs, Ciena Corporation (Tellabs Inc.), Cisco Systems Inc., Dell EMC (Dell Technologies Inc.), Huawei Technologies Co. Ltd., Intel Corporation, Juniper Networks Inc., NEC Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, ZTE Corporation, etc. Key Questions Answered in This Report:
- How has the global network function virtualization (NFV) market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What has been the impact of COVID-19 on the global network function virtualization (NFV) market?
- What is the breakup of the market based on the offering?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the enterprise size?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end-user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global network function virtualization (NFV) market and who are the key players?
- What is the degree of competition in the industry?