The global network function virtualization market is anticipated to grow at a significant CAGR of 21.6% during the forecast period (2022-2028). The market is growing due to an increase in the adoption of virtualized software among enterprise data centers, including internet service providers (ISP) and cloud service providers (CSP). However, additionally, the rising need for data-intensive applications and the demand for cloud-based services are likely to create significant market potential prospects.
A full report of Network Function Virtualization Market is available at:https://orionmarketreports.com/network-function-virtualization-market/31047/
Network function virtualization (NFV) is a virtual network that combines hardware and software networks. It helps with network and process optimization, as well as power consumption reduction and equipment cost reduction. It lets users access several apps from a single network appliance. Network function virtualization reduces capital and operational expenditures significantly.
Market demand is fueled by the increased demand for cloud-based services and data-hungry applications. Furthermore, due to higher performance and lower costs, technical advancements and the use of routers, switches, mobile edges, and optical transport are likely to boost the global NFV market over the forecast period. NFV is a major structural shift in the way telecommunications infrastructure is built, resulting in a significant shift in how applications are provided to service providers.
Telecom and cloud service providers are aggressively adopting NFV to optimize networks, enhance service delivery times, raise Average Revenue Per User (ARPU), and cut capital and operational expenditures (OPEX). By implementing a decoupled centralized control layer that optimizes network resources, NFV transforms networks into more open and programmable frameworks, resulting in reduced network congestions, increased network user capacity (bandwidth requirement), and the lowest cost associated with hardware requirements for network user expansions.
Some major players in the market includeEricsson AB, Hewlett Packard Enterprise Co., Huawei Technologies, Nokia Corp., and VMware Inc., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market.
Hewlett Packard Enterprise Co. offers HPE Helion OpenStack Carrier Grade Software for NFV. It’s a carrier-grade OpenStack distribution with compute and network virtualization for network functions virtualization (NFV), allowing CSPs to run NFV applications on open source software platforms. Many essential technologies outside the scope of the original OpenStack project must be successfully integrated to create a carrier-grade platform.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Component
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Ericsson AB, Hewlett Packard Enterprise Co., Huawei Technologies, Nokia Corp., VMware Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Network Function Virtualization Market Report by Segment
By Component
- Software
- Hardware
- Services
By Application
- Switching Elements
- Service Assurance
- Next-Generation Signaling
- Security Function
- Others
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
