SAN FRANCISCO, June 23, 2020
SAN FRANCISCO, June 23, 2020 /PRNewswire/ -- The network function virtualization market is anticipated to achieve significant revenue share by 2024. It is also abbreviated as NFV a method to virtualize network services like load balancers, routers, and firewalls that have conventionally been run on proprietary hardware. Further, these facilities are packaged as virtual machines (VMs) on asset hardware that enables facility providers to run their system on standard servers instead of proprietary ones. However, a decrease in operational and capital spending will pose a major advantage for industrial growth in the coming years.
Rising use of enhanced network management systems to handle the growing network complexities and traffic will escalate industrial growth in the forecast period. Factors such as security agility, internet of things (IoT) deployments, and cloud migration are significantly bolstering the NFV industry across end-users. In addition, rising importance of server virtualization, cloud services, and data center consolidation will show a positive impact on overall business outlook in the coming years.
Factors such as interoperability and integration concerns, paucity of in-house technical expertise, and safety concerns will hamper overall industry growth. Besides, development of open-source SDN and NFV, acceptance of NFV for IoT technology, and rising demand for private cloud services and solutions across the globe will create new avenues over the forecast period. The recent trends in the industry are expanding mobile broadband technologies like 5G and edge computing. Also, an increasing number of data centers moving towards cloud will show a positive impact on overall industry growth in the coming years. The network function virtualization industry is categorized based on components, applications, and regions.
Based on components, the network function virtualization industry is categorized into services, solutions, and orchestration and automation. The orchestration and automation segment is anticipated to remain dominant over the projected period. The primary task of orchestration is to advance and automate network service creation through self-healing, scaling, virtualized network functions (VNFs), and resource lifecycle management of network services. This, in turn, will drive segment growth in the coming years.
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Based on applications, the network function virtualization industry is categorized into core network and virtual appliance. The virtual appliance segment is expected to account for the largest industry revenue over the forecast period. The high growth is attributable to its enhanced operations like intrusion detection system, traffic monitoring, caching, and security exclusively carried over Virtual Customer Premise equipment (VCPe).
Geographically, the network function virtualization industry is categorized into Middle East & Africa, North America, South America, Europe, and Asia Pacific. Globally, North America is anticipated to account for the largest revenue share and continue its dominance over the forecast period. The high growth is attributable to rapid industrialization in economies like Canada and the U.S. will show a positive impact on overall business outlook. The market in the region is bolstered by the fast and early acceptance of technologies like IoT, cloud computing, and Software Defined everything (SDx). The region is a home for key manufacturers such as Extreme Networks, Cisco, Juniper Networks, and IBM.
Prominent players of the network function virtualization market comprise Nokia, Cisco, Vmware, Ericsson, and Huawei. These players are continuously concentrating on several expansion strategies like collaborations, partnerships, novel product launches, and collaborations to increase their consumer base total revenue. Huawei and Cisco are the major consumers in this industry.
In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Network Function Virtualization Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China).
Access 159 page research report with TOC on "Network Function Virtualization Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-network-function-virtualization-market-research-report-2020-2024
The report firstly introduced the Network Function Virtualization basics: definitions, classifications, applications and market overview; product specifications; manufacturing processes; cost structures, raw materials and so on. Then it analyzed the world's main region market conditions, including the product price, profit, capacity, production, supply, demand and market growth rate and forecast etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.
The end users/applications and product categories analysis:
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