The Network Function Virtualization (NFV) Market was valued at USD 13.6 billion in 2020 and is expected to reach $122 billion by 2027, growing at a CAGR of 34.9% during the forecast period of 2019 to 2027. Network functions virtualization (NFV) is a way to virtualize network services, such as routers, firewalls, and load balancers, that have traditionally been run on proprietary hardware. These services are packaged as virtual machines (VMs) on commodity hardware, which allows service providers to run their network on standard servers instead of proprietary ones. With NFV, you don’t need to have dedicated hardware for each network function. NFV improves scalability and agility by allowing service providers to deliver new network services and applications on-demand, without requiring additional hardware resources.
The market for network function virtualization is driven by several factors including increase in demand for data intensive applications and need of cloud-based services. The growth of market is hindered by factors such as delay in adoption of technology.
Some of the major players in the market include Ericsson AB, Red hat, Huawei technologies Co. Ltd., 6Wind SA, Nokia, VMware, Amdocs Inc., Connectem Inc., CIMI Corporation, ContexXtream Inc., Intel Corporation, F5 Network Inc., Juniper Network Inc., Open Wave Mobility Inc., NEC Inc., Oracle Corporation and Opera Software. In November 2019, VMware expanded its partnership with Nokia to simplify large-scale, multi-cloud operations. This partnership also aims at increasing investments, along with technology collaboration and advanced research & development, to develop integrated solutions.
The market for network function virtualization is segmented on the basis of applications and geography. On the basis of application, the market for network function virtualization can be segmented into switching elements (Routers), traffic analysis, service assurance, next generation signalling, security function and others. The geographical analysis of the market is done on the basis of North America, Europe, Asia Pacific and Rest of World.
The market for network function virtualization is driven by several factors including increase in demand for data intensive applications and need of cloud-based services. The growth of market is hindered by factors such as delay in adoption of technology.
Some of the major players in the market include Ericsson AB, Red hat, Huawei technologies Co. Ltd., 6Wind SA, Nokia, VMware, Amdocs Inc., Connectem Inc., CIMI Corporation, ContexXtream Inc., Intel Corporation, F5 Network Inc., Juniper Network Inc., Open Wave Mobility Inc., NEC Inc., Oracle Corporation and Opera Software. In November 2019, VMware expanded its partnership with Nokia to simplify large-scale, multi-cloud operations. This partnership also aims at increasing investments, along with technology collaboration and advanced research & development, to develop integrated solutions.
The market for network function virtualization is segmented on the basis of applications and geography. On the basis of application, the market for network function virtualization can be segmented into switching elements (Routers), traffic analysis, service assurance, next generation signalling, security function and others. The geographical analysis of the market is done on the basis of North America, Europe, Asia Pacific and Rest of World.
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