DUBLIN--(BUSINESS WIRE)--Jan 3, 2023--

The “Global Network Functions Virtualization Market Size, Share & Industry Trends Analysis Report By Component (Solutions and Services), By End User, By Enterprises Type, By Organization Size, By Application, By Regional Outlook and Forecast, 2022 - 2028” report has been added to ResearchAndMarkets.com’s offering.

The Global Network Functions Virtualization Market size is expected to reach $94.1 billion by 2028, rising at a market growth of 24.8% CAGR during the forecast period.

Network functions virtualization, or NFV, can be defined as a network architecture concept that leverages IT virtualization technologies in order to virtualize entire sections of network node functions into building blocks that can be connected to each other or chained together to produce and deliver communication services. NFV depends on conventional server virtualization strategies, like those employed in enterprise IT.

Instead of using specialized hardware appliances for every network function, a virtualized network function, or VNF, is deployed within one or even more virtual machines or containers that are each running different software and processes on top of high-volume commercial off-the-shelf (COTS) servers, switches, storage devices, and cloud computing infrastructure.

This prevents vendor lock-in. For instance, to safeguard a network, a virtual session border controller can be used instead of actual network protection units, which are typically more expensive and complicated to buy and install.

Other NFV examples include virtualized firewalls, load balancers, WAN accelerators, and intrusion detection systems, to mention a few. By separating the network function software from the specialized hardware platform, a flexible network architecture is realized, allowing for rapid service rollouts, agile network administration, and a significant decrease in CAPEX and OPEX. With the help of NFV, communication services may be separated from specialized hardware like routers and firewalls.

Because of this division, network operations can offer new services on demand and without buying new hardware. With network functions virtualization, network components can be deployed in a matter of hours as opposed to months as with conventional networking. Additionally, rather than using expensive proprietary hardware, the virtualized services can function on less expensive generic servers. Network function virtualization essentially takes the role of the features offered by separate hardware networking components.

Market Growth Factors

Helps Businesses In Saving Costs And Boosting Agility

Carriers must offer more bandwidth at a reduced price. However, high bandwidth requirements or on-demand services were not incorporated into traditional carrier networks. Additionally, it is costly, complicated, and ineffective to attempt to improve already-existing hardware-based networks.

As a result, carrier income is now growing slower than networking costs. Additionally, this is not a long-term business strategy. By separating network software from hardware, network functions virtualization solutions are intended to assist carriers in moving away from proprietary network hardware, which considerably reduces costs and improves service agility.

Rising Number Of Initiatives And Efforts By Market Players

NFV’s benefits and concepts are straightforward, but putting it into practice becomes more difficult. This is due to the fact that NFV requires some level of engagement and collaboration between different network solution suppliers and network operators in order to fully benefit from it.

Industry associations can help in such situations. Industry Specification Group, or ISG, for NFV, is being formed by the top network operators all over the world at a very rapid speed. Even while there is a lot of interest in the efforts of such associations to define the NFV framework, it is just one of many aspects in this rapidly expanding sector of industry development.

Marketing Restraining Factor:

Security And Scalability Risks

What will happen to their job if their assets are unavailable is the biggest concern that many people have about virtualization. An organization is expected to find it difficult to compete in its business if it is unable to access its data for an extended length of time. Additionally, since availability is managed by outside providers, virtualization does not provide users control over their ability to maintain connectivity. Although virtualization makes it possible to expand a business or prospect quickly, users might not be able to do so as quickly as they consider. A virtualized network experiences lag as a result of growth since numerous entities share the same resources.

Scope of the Study

Market Segments Covered in the Report:

By Component

• Solutions
• Services

By End User

• Service Providers
• Data Centers
• Enterprises
  • BFSI
  • Manufacturing
  • Government & Defense
  • Healthcare
  • Retail
  • Education
  • Others

By Organization Size

• Large Enterprises
• Small & Medium Enterprises

By Application

• Virtual Appliance
• Core Network

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

• Intel Corporation
• Oracle Corporation
• Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
• Ericsson AB
• Hewlett Packard Enterprise Company
• Juniper Networks, Inc.
• NEC Corporation
• Amdocs Limited
• F5 Networks, Inc
• Alcatel-Lucent Enterprise (China Huaxin Post and Telecom Technologies Co., Limited)

For more information about this report visit https://www.researchandmarkets.com/r/z9a107

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KEYWORD:

INDUSTRY KEYWORD: SOFTWARE TECHNOLOGY NETWORKS

SOURCE: Research and Markets

Copyright Business Wire 2023.

PUB: 01/03/2023 04:17 AM/DISC: 01/03/2023 04:16 AM

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