“Network Function Virtualization Market by Component (Orchestration, Professional Services), Virtualized Network Function, Application (Virtual Appliances, Core Network), End User (Enterprises, Service Providers, Data Centers)– Global Forecast to 2027”.
According to this latest publication from Meticulous Research, the network function virtualization (NFV) market is expected to grow at a CAGR of 34.9% from 2020 to 2027 to reach $122 billion by 2027.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.meticulousresearch.com/download-sample-report/cp_id=5104
Impact of COVID-19 on the Network Function Virtualization Market
The COVID-19 pandemic has adversely hit many economies around the globe. The combat measures such as lockdowns, social distancing, and quarantines to fight COVID-19 have put strong adverse impact on many industries across the globe including IT & telecommunication sector. With several employees working from home and students learning virtually, enterprise virtual private network (VPN) servers have now become a lifeline to organizations /schools. According to UNESCO, 850 million students are now learning and attending classes from home while hundreds of millions of workers have suddenly switched to remote working, creating an enormous change in communications network usage. Network traffic in Europe has increased by approximately 50%, as much of the population is confined to their homes.
The impact of COVID-19 outbreak on the global network function virtualization market has been started in early 2020 in China, one of the world’s largest producers and consumers for endpoint devices including smartphones, computers, and tablets. The closing of production plants for few months in China, and restrictions on export and import of the endpoint devices to and from the China’s restricted area affected supply chain and has strongly impacted the production, sales, and operation of this industry. Besides, in March 2020, 3GPP, the global association developing the 5G technology, announced a three-month delay in the timeline for the completion of 5G specifications due to COVID 19. Delay in releases will result in the slowdown of the commercial development of NFV devices and 5G deployments. The COVID-19 pandemic has thrown the global economic activities into an unprecedented spiral. Therefore, supply chain disruptions and delay in the release of 5G specifications is projected to adversely affect the global network function virtualization market and thereby the market revenue in 2020 and 2021. However, several businesses are exerting extensively in order to bring NFV market back on track. Moreover, local governments are also undertaking several relief steps to mitigate the negative impact of COVID-19. As a result, the network security virtualization market is expected to slowly regain its original track beyond 2024.
The growth in this market is majorly attributed to factors such as increased network complexities and ever-increasing demand for cloud-based services, rapid deployment of IoT on a considerable scale, increasing demand for data center consolidation and server virtualization, and need for security agility. Besides, the rapid proliferation of disruptive technologies in emerging economies of Asia Pacific including China and India is offering significant growth opportunities for network function virtualization market. However, the growing number of security risks across the NFV infrastructure and negative impact of COVID-19 on the global economies emerged as notable restrain for the global network function virtualization market.
The global network function virtualization market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of component (solution, orchestration and automation, professional services), virtualized network function (storage, compute, and network), application (virtual appliances, core network), and end-user (enterprises, service providers, and data center). The study also evaluates industry competitors and analyses the market at a country level.
Check complete table of contents with list of table and figures: https://www.meticulousresearch.com/product/network-function-virtualization-5104/
Scope of the report
Network Function Virtualization Market by Component
- Orchestration & Automation
- Professional Services
Network Function Virtualization Market by Virtualized Network Function
Network Function Virtualization Market by Application
- Virtual Appliances
- Core Network
- Mobile Edge Computing
- Virtualized Radio Access Network
- Virtualized Evolved Packet Core
- Virtual Internet Protocol Multimedia Subsystem
Network Function Virtualization Market by End-user
- Media & Entertainment
- Service Providers
- Data Centers
Network Function Virtualization Market by Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
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Geographically, the North America region is estimated to command the largest share of the global network function virtualization market in 2020. The large share of this region is primarily attributed to the presence of developed economies such as the U.S. and Canada in the region and their primary focus on innovating the existing solutions. In addition, North America is adopting network function virtualization solutions on a considerable scale to enhance their IT infrastructure and leverage the benefits of new technologies, such as 5G and IoT. Besides, presence of the majority of established network function virtualization players and start-ups have also supported the dominance of this region in this market.
Some the key players operating in the global network function virtualization market are Cisco Systems Inc. (U.S.), Juniper Networks Inc. (U.S.), Affirmed Networks (U.S.), Ribbon Communication Inc. (U.S.), Fujitsu Ltd. (Japan), Huawei Technologies Co., Ltd (China), VMware Inc. (U.S.), Nokia Corporation (Finland), Ericsson AB (U.S.), Ciena Corporation (U.S.), Hewlett Packard Enterprises (U.S.), ZTE Corporation (U.S.), Radisys (U.S.), Dell EMC (U.S.), and Wind River Systems, Inc. (U.S.).
Key questions answered in the report-
Which are the high growth market segments in terms of component, virtualized network function, application, end-user, and countries in the overall network function virtualization market?
What is the historical market for network function virtualization across the globe?
What are the market forecasts and estimates for network function virtualization from the period of 2020-2027?
What are the major drivers, restraints, and opportunities in the global network function virtualization market?
Who are the major players in the global network function virtualization market and what share of the market do they hold?
How is the competitive landscape in global as well as regional NFV market?
What are the recent developments in the global network function virtualization market?
What are the different strategies adopted by the major players in the market?
What are the geographic trends and high growth countries for the network function virtualization market?
Who are the local emerging players in the global network function virtualization market and how do they compete with the other players?
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