Global Network Function Virtualization Market – Industry Trends and Forecast to 2029

Global Network Function Virtualization  Market, By Components (Solutions, Orchestration and Automation, Services), Virtualized Network Functions (Compute, Storage, Network), Applications (Virtual Appliance, Core Network), Enterprise Size (SMEs, Large enterprises) – Industry Trends and Forecast to 2029

Market Analysis and Size

The role of network function virtualization  is to incorporate the modern technologies such as big data analytics, data intelligence and artificial intelligence into improving the organizational efficiency and effectiveness.  Rising number of small and medium scale end users are increasingly understanding the importance of network function virtualization.

Data Bridge Market Research analyses that the network function virtualization  market value, which was USD 16.88 billion in 2021, is expected to reach the value of USD 100.58 billion by 2029, at a CAGR of 25.00% during the forecast period 2022-2029. The network function virtualization  market report also covers pricing analysis, patent analysis, and technological advancements in depth.   

Market Definition

The network function virtualization is a cloud based technological service that is used to manage the digital databases and keep and inventory of the same. Network function virtualization (NFV) is a mixture of hardware and software network which   deals   in virtual network. It contributes in optimizing the networks and  operations.

Report Scope and Market Segmentation

Global Network Function Virtualization  Market Dynamics

This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers:

• Increased emergence of cloud services, data center consolidation, and server virtualization

Increase in deployment of virtualized software amongst enterprise data centers, as well as internet service providers  and cloud service providers , energies the market growth. However, the delay in acceptance of this technology hampers this market. Increase in demand for data-intensive applications and the requirement for cloud-based services are likely to be  present major opportunities for market expansion.

• Increased number of industries globally to induce greater demand and supply in emerging nations  

Growing number of small and medium scale enterprises all around the globe is one of the major factors fostering the growth of the market. In other words, increased number of banking, financial services, and insurance (BFSI), government and public sector, healthcare and life sciences, manufacturing, retail and e-commerce, telecommunication, and IT industries, is directly influencing the growth rate of the market.

Opportunities:

• Adoption for IoT Technology

Network function virtualization offers optimized network scalability and dexterity to manage the entire network and ameliorate its overall performance, which is acting as another growth- converting factor. It can also be integrated with the internet of effects (IoT) and private cloud computing services for enhanced inflexibility. Other factors, including the growing demand for data center connection and virtualization, along with adding investments in the 5G network technology, are anticipated to drive the request further.

Restrictions/ challenges:

• Growing concerns to limit the scope of growth in the long run

Lack of technical expertise in the underdeveloped and backward economies will create hindrances for the growth of the market. Also, existence of the technology is unaware to many industries which will narrow down the scope of growth for the market. Further, suspension of business activity on account of the coronavirus pandemic will yet again create hindrances.    

• Growing Number of Security Risks Across the NFV Infrastructure

Network function virtualization (NFV) refers to the process of designing, planting and managing networking services. NFV performs various networking functions, operates them from a tackle base and enables the stoner to run the software in virtual machines. In comparison to the traditionally used firewalling bias and routers, ultramodern NVF results can be stationed on multiple tackle. It's frequently used along with various other services, similar as sphere name service (DNS), network address restatement (NAT), firewalls and hiding. NFV armature consists of an element director, virtualized structure director, songwriter and operation support system.

This network function virtualization  market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the network function virtualization  market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Network Function Virtualization Market

The recent outbreak of coronavirus has proven to be a boon for the market. The pandemic, though, has led to the suspension of business activities on account of the coronavirus pandemic but there seems to be a high growth in demand for network function virtualization  systems on account of increased focus towards digitizing the economies. Rising number of small and medium scale enterprises especially in the developing economies coupled with growing acceptance of electronic signatures as part of business transactions have carved the way for greater opportunities for this market.

Recent Developments

• In November 2019, VMware expanded its cooperation with Nokia to simplify large-scale,multi-cloud operations. This cooperation also aims at adding investments, along with technology collaboration and advanced exploration & development, to develop intertwined results.
• In October 2019, Ericsson banded with NVIDIA to give 5G radio access networks (RAN). Under this collaboration, both the companies will concentrate on developing the technologies that will enable communication service providers to make virtualized 5G RAN. It'll accelerate the preface of new AI-and IoT- grounded services

Global Network Function Virtualization  Market Scope

The network function virtualization  market is segmented on the basis of components ,virtualized network functions, application,  enterprise size. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Components

• Solutions
• Orchestration and Automation
• Services

Virtualized Network Functions

• Compute
• Storage
• Network

Applications

• Virtual Appliance
• Core Network

Enterprise Size

• SMEs
• Large enterprises

Network Function Virtualization Market Regional Analysis/Insights

The network function virtualization market is analysed and market size insights and trends are provided by country, component, organisation size and end user industry as referenced above.

The countries covered in the network function virtualization  market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is calculable to account for the most important share of the NFV market in 2019. it's a market with high growth potential in NFV. The NFV market in North America is motor-assisted by the  early and quick adoption of technologies, like cloud computing, software package outlined everything (SDx), and IoT. High industry in countries like the US and North American country has continually been a positive issue for aiding quick growth in numerous business verticals. The countries in North America have favorable standards and networking laws that facilitate in boosting the NFV market growth. North America may be a home for varied NFV infrastructure suppliers, together with Cisco, IBM, Juniper Networks, and Extreme Networks. it's conjointly a possible marketplace for investment gap up new opportunities for the adoption of NFV infrastructure. magnified 5G deployments, the adoption of NFV is magnified within the region. However, in NFV, the management of the entire network is with the controller; thus, the preparation needs numerous structure, functional, and cultural changes among organizations.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Network Function Virtualization  Market Share Analysis

The network function virtualization  market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to network function virtualization  market.

Some of the major players operating in the network function virtualization  market are:

• Cisco Systems, Inc.(US)
• VMware, Inc. (US)
• Huawei Technologies Co., Ltd. (China)
• Telefonaktiebolaget LM Ericsson (Sweden)
• Nokia ( Finland)
• hewlett packard enterprise development lp (India)
• Dell Inc. (US)
• Juniper Networks, Inc. (US)
• NEC Corporation (Japan)
• Affirmed Networks (Acton)
• Ribbon Communications Operating Company, Inc. (US)
• ZTE Corporation. (China)