The global Network Function Virtualization market size is expected to reach $68.83 Billion by 2028 growing at the CAGR of 23.72% from 2021 to 2028.
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Global Network Function Virtualization Drivers:
The rising demand for cloud-based services due to rapidly growing internet usage, the boom of the Internet of Things, and the requirement for high-quality online experiences among consumers are some of the factors encouraging network function virtualization.
The factors restraining the growth of the global network function virtualization market include security risks and concerns across NFV infrastructure and a few misconceptions and worries related to NFV solutions among potential customers.
- Impact on Market Size
- End-User Trend, Preferences, and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact
- Opportunity Window
Global Network Function Virtualization Market Segments:
The global Network Function Virtualization market is further segmented into Functions, Components, Application, End User, and geography.
● By Functions: Compute, Storage, Network, Others
● By Components: Solutions, Orchestration, and Automation, Services, Others
● By Application: Virtual Appliance, Core Network, Others
● By End-User: Service Providers, Data Centers, Enterprises, Others
Key Region/ Countries Covered
- North America (US, Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa and South America)
Geographically, the global network function virtualization market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the global network function virtualization market in 2020 and its share is expected to grow at the highest CAGR during the forecast period.
The largest share of this region is mainly attributed to the presence of prominent players offering advanced network function virtualization solutions and services across different industry sectors and greater acceptance of IoT and cloud services in the region. The region also has great technological advancements that are driving its growth.
Key Players of Global Network Function Virtualization Market:
- Juniper Networks
- Affirmed Networks
- Ribbon Communications
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Key Questions Answered Through The Report:
- The Impact of COVID-19 on the global market
- What are the potential opportunities for new entrants in the global market
- What is the market Size and Forecast from 2020 to 2028?
- Key Players associated with the global Network Function Virtualization Market
- Value Chain Analysis of Global Network Function Virtualization Market
- What is the CAGR of the global Network Function Virtualization Market from 2021 to 2028
- Major Growth Factor, Challenges, Trends, and Opportunities in the global market
- Key outcomes of SWOT Analysis
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