© 2016 Global Market Insights, Inc. USA. All Rights Reserved Network Function Virtualization Market to reach $70bn by 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Network Function Virtualization (NFV) Market size is set to exceed USD 70 billion by 2024; driven by increasing demand for data center consolidation and server virtualization. The NFV market growth is attributed to the growing trend of mobility in enterprise IT infrastructures, lower telecom carrier costs enabled by NFV deployment, and consistent industry as well as government initiatives for the commercialization of 5G network technology. As network service providers have invested in multiple technology transitions for mobile, broadband access, and business services over the years, disparate networks with their own proprietary architecture have emerged. Network Function Virtualization (NFV) Market  This has led to enormous CAPEX and OPEX budget bloats. NFV allows service providers to effectively virtualize network functions such as load balancers, firewalls, subscriber policy management, and mobile RAN (Radio Access Network) functions. Due to the excellent flexibility and agility offered by NFV solutions, enterprises can scale their networking infrastructure in response to increased workloads by using cloud-native NFVs. This flexibility allows them to reduce the cost incurred in procuring additional hardware appliances for supporting newly introduced network services. Industry Overview

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The hardware segment held a majority share of around 48% in 2017 in the global NFV market due to the large-scale adoption of NFV servers for virtualizing diverse network functions such as firewalls, Network Address Translation (NAT), routing, and Internet Protocol Security (IPSec). As the market evolves, the software segment is expected to lead the network function virtualization market growth due to the extensive deployment of NFV-MANO platforms as well as VNF software applications meant for virtualizing a diverse set of network functions.  NFV’s appeal lies in its ability to deliver more network function performance with lesser data center rack space, power, and cooling. This capability is provided by the virtualized architecture of the network framework supported by sophisticated NFV software platforms and applications. Also, NFV software solutions can quickly provision different types of virtual security appliances to enable software-defined security to manage a dynamic threat landscape and protect the network integrity.  The manufacturing sector in the network function virtualization market is expected to witness the fastest growth while registering a CAGR of around 50% between 2018 and 2024 due to the large-scale implementation of IIoT technology leading to a rapid growth in the number of connected components in the industrial IT environment. Continue…

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved NFV Market

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Europe Network Function Virtualization (NFV) Market Share, By Application, 2017

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© 2016 Global Market Insights, Inc. USA. All Rights Reserved Continue  Asia Pacific NFV market is projected to grow with the highest CAGR of around 50% during the forecast period. The increasing adoption of cloud-based computing and storage technology by SMEs in the region, expansion of data center ecosystem in the region by leading global cloud service providers, and large-scale investment in 5G testing and commercialization by telecom carriers in China are some of the major factors influencing the growth of the Asia Pacific NFV market.  Companies operating in the global NFV market focus on product development and innovation to develop robust network virtualization platforms along with strategic collaborations and partnerships to leverage their mutual technological capabilities and create innovative service offerings. Major players, such as Huawei, Cisco, Nokia, HPE, and VMware focus, on developing modern network virtualization infrastructure to enable service providers to run network services in a faster and more efficient manner while enabling significant CAPEX and OPEX savings on hardware investment.  Some of the key players operating in the network function virtualization market are Cisco, Huawei, Ericsson, VMware, Juniper, F5 Networks, Nokia, AT&T, HP, Citrix, NFWare, WindRiver, Riverbed, Broadcom, Oracle, Verizon, 6Wind, Arista, Amdocs, IBM, and Pluribus.

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