23 Jan VP Jon Cartu Reports – Network Function Virtualization (NFV) Market by Component,…
Dublin, Jan. 23, 2020 (GLOBE NEWSWIRE) — The “Network Function Virtualization (NFV) Market by Component (Solutions, Orchestration and Automation, and Professional Services), Virtualized Network Function, Application (Virtual Appliance and Core Network), End User, and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The global NFV market is expected to grow from USD 12,949 million in 2019 to USD 36,324 million by 2024, at a Compound Annual Growth Rate (CAGR) of 22.9% during the forecast period.
This market study covers the NFV market across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as, component, Virtualized Network Function (VNF), application, end-user, and regions. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Rising demand for network virtualization and automation to drive adoption of NFV infrastructure
The exponential increase in the size and complexity of network infrastructures in the last decade has created a need for solutions to simplify and efficiently manage the entire network. NFV solutions cater directly to these problems by providing more flexibility in terms of traffic management to operators to improve network efficiency. Hence, the rising demand for advanced network management systems is driving the global NFV market growth.
The virtual appliance segment to grow at a higher CAGR during the forecast period
Virtual appliance primarily includes various networking operations, such as traffic forwarding, traffic monitoring, security, caching, intrusion detection system, and domain name service. These operations are widely carried over Virtual Customer Premise equipment (VCPe) over the edge. This has considerably affected enterprises to streamline their network complexities. Thus, the segment is expected to record decent momentum in the coming years.
The service providers segment to lead the NFV market in 2019
Service providers such as telecom service providers and cloud service providers are actively leveraging NFV to optimize networks, improve service delivery times, increase Average Revenue Per User (ARPU), and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). NFV transforms networks into more open and programmable frameworks by implementing a decoupled centralized control layer, which optimizes network resources, resulting in reduced network congestions, enhanced network user capacity (bandwidth requirement), and the minimized cost associated with hardware requirement for network user expansions.
APAC to grow at the highest CAGR during the forecast period
APAC consists of major economies, such as China, India, Japan, Australia, and South Korea. These countries are gaining worldwide attention due to their rapid growth and advancements, such as the adoption of cloud, big data, NFV, and digital transformation technologies. The latest 4G and 5G technology intervention in the APAC region is a major reason for the rapid digital transformation in the region. This has led to developments in technologies, such as IoT, BYOD, and mobility services, opening numerous revenue streams and use cases for businesses. The 4G technology is at a growing stage in APAC, owing to the increasing subscriber base, favorable policies and regulations, and demand for data storage and security. All these factors act as drivers for the NFV market due to rapid digital transformation and wide scope of growth.
Major vendors providing NFV solutions and services include Cisco (US), Ericsson (US), Huawei (China), VMware(US), Nokia (Finland), HPE (US), Dell EMC (US), Juniper Networks (US), Affirmed Networks (US), NETSCOUT (US), NEC (Japan), Ribbon Communications (US), ZTE Corporation (China), Fujitsu (Japan), Ciena (US), ECI Telecom (Israel), Metaswitch (UK), Mavenir (US), Radisys (US), and Wind River (US). The study included an in-depth competitive analysis of these key players, along with their company profiles, recent developments, and key growth strategies.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Market Opportunities in the Global Market
4.2 Network Function Virtualization Market, By Virtualized Network Function, 2019
4.3 North America: Market By Application and End User, 2019
4.4 Asia Pacific: Market By Application and End User, 2019
5 Market Overview and Industry Trends
5.1 Market Dynamics
220.127.116.11 Need for an Enhanced Network Management System to Handle the Growing Network Traffic and Complexity
18.104.22.168 Increased Emergence of Cloud Services, Data Center Consolidation, and Server Virtualization
22.214.171.124 Rise in Demand for Network Virtualization and Automation
126.96.36.199 Growing Number of Security Risks Across the NFV Infrastructure
188.8.131.52 Difficulties in Troubleshooting Across the NFV Network
184.108.40.206 Adoption of NFV for IoT Technology
220.127.116.11 Increased Demand for Private Cloud Solutions and Services
18.104.22.168 Development of Open-Source SDN and NFV
22.214.171.124 Complexities Introduced By Third-Party Integrations, Acquisitions, and Collaborations
126.96.36.199 Reliability Concerns for NFV
188.8.131.52 Balancing Network Infrastructure Between Traditional and NFV Technologies
5.2 Use Cases
5.2.3 NFV-Based Service Orchestration
5.2.4 Augmentation Service Offering Through NFV
5.2.5 Virtual Managed Services for Small and Medium Enterprises
6 Network Function Virtualization Market By Component
6.3 Orchestration and Automation
6.4 Professional Services
7 Network Function Virtualization Market By Virtualized Network Function
8 Network Function Virtualization Market By Application
8.2 Virtual Appliance
8.3 Core Network
9 Network Function Virtualization Market, By End User
9.2 Service Providers
9.2.1 Service Providers: Market Drivers
9.2.2 Network Service Providers
9.2.3 Telecom Operators
9.3 Data Centers
9.3.1 Data Centers: Market Drivers
9.4.1 Enterprises: Market Drivers
9.4.2 Banking, Financial Services, and…