Network Functions Virtualization (NFV) is a core structural change in the way telecommunication infrastructure gets deployed. Network functions virtualization (NFV) describes standards for compute, storage, and networking resources which can be used for building virtualized network functions. It refers to the combination of hardware and software network features in a single virtual network. It also aims to address the problems by evolving standard IT virtualization technology to consolidate many network equipment types onto industry standard high volume servers, switches and storage.
According to a recent study report published by the Market Research Future, The Global Market of Network Functions Virtualization is growing rapidly, continuing this growth further the market is expected to grow at USD ~19 Billion by 2022, at ~31% of CAGR between 2016 and 2022.
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The network function virtualization market is showing rapid growth in the near future. The study indicates that, the increased adoption of internet of things (IoT), growing popularity of digitization is the factors driving the network function virtualization market. Also, the increasing demand for data intensive applications and need of cloud based services is driving the network function virtualization market. The network function virtualization enables operators to reduce the needs to purchase customized hardware instead pay-as-you-grow model thus reducing the CapEx. The network function virtualization benefits by reducing OpEx, accelerating time to market by reducing the time to deploy. The study reveals that the major challenge for the network function virtualization market would be, network function virtualization environments are more dynamic than traditional ones, which might require scaling up with additional features to cope.
Network Function Virtualization Global Market – Key Players
Well-established players having regional and global presence vivaciously adorn the NFV market with a competitive spirit. Most of the vendors are with divergent solutions for a single NFV deployment. Vendors providing similar solutions experience more competition compared to the competition between all vendors in the market. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position.
The prominent players in the NFV Market are Accenture PLC (Ireland), Juniper Networks (U.S.), Alcatel-Lucent S.A. (France), Cisco Systems, Inc. (U.S.), Huawei technologies Co. Ltd. (China), Nokia Corporation (Finland), Intel Corporation (U.S.), NEC Inc. (Japan), Amdocs Inc. (U.S.), Connectem Inc. (U.S.), Ericsson (Sweden), 6WIND (France), Oracle Corporation(U.S.), Open Wave Mobility Inc. (U.S.), Allot communications (U.S.) among others
Network Function Virtualization Global Market – Segments
The NFV Market is segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Application : Comprises Switching Elements, Traffic Analysis, Next Generation Signaling, and others.
Segmentation By Deployment : Comprises Cloud, On-premise.
Segmentation By Infrastructure : Comprises Hardware Resources, Virtualized Resources.
Segmentation By End-User : Comprises CSP, BFSI, Cloud Service Provider.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Network Function Virtualization Market – Regional Analysis
The regional analysis of Network function virtualization is being studied for region such as Asia pacific, North America, Europe and Rest of the World. It has been observed that North America is dominating the Network function virtualization market owing to a significant move from proof of concepts to commercial deployment of NFV by the telecom operators, which will drive the network function virtualization market growth. The study indicates that regions witnessing migration to 5G will drive the need of deploying network function virtualization (NFV).
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