Dublin, March 05, 2021 (GLOBE NEWSWIRE) -- The "Network Function Virtualization (NFV) Market by Component, Virtualized Network Function, Application, End User - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Network Function Virtualization (NFV) Market is expected to reach $122 billion by 2027, growing at a CAGR of 34.9% during the forecast period of 2019 to 2027.
The growth of this market is mainly attributed to the growing number of network complexities and ever-increasing demand for cloud-based services, deployment of IoT, security agility, cloud migration, increasing demand for network virtualization and automation, and need for advanced network management system are the key factors driving the growth of the network function virtualization market.
However, the growing security issues in NFV and negative impact on the global economy due to COVID-19 pandemic are some of the key restraints for the growth of the network function virtualization market.
Based on component, the solutions segment is estimated to account for the largest share of the overall network function virtualization market in 2020. The large share of this segment is mainly attributed to the growing demand for network virtualization software running on standard server platforms, increasing IT productivity, and simplification of data center management.
Growing significance of proper network infrastructure in small and medium scale enterprises and demand for better and affordable software and hardware for NFV is helping the solution segment to dominate the market. However, the orchestration & automation segment is expected to emerge as the fastest-growing segment throughout the forecast period.
Based on end-user, the enterprise segment is estimated to command the largest share of the overall network function virtualization market in 2020. However, the data center segment is expected to grow with the fastest CAGR over the coming years. Factors such as reduced enterprise operational costs and enhanced business agility, demand for unified and centralized management of data centers, and increase in data center complexities are supporting the rapid growth of this segment.
Geographically, the global NFV market is segmented into five major geographies, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. At present, North America region is estimated to command the largest share of the global network function virtualization market in 2020. However, Asia-Pacific region is expected to witness rapid growth during the forecast period.
The rapid growth of this region is mainly driven by the increasing adoption of advanced technologies across a wide range of industries; supporting government initiatives across the region; and investments by major network function virtualization companies. Several major NFV solutions and service providers are considering Asia Pacific as the next growth hotspot and are trying to expand their geographic footprint by establishing businesses in countries such as China and India.
Key questions answered in the report:
Which are the high growth market segments in terms of component, virtualized network function, application, end-user, and countries?
What is the historical market for network function virtualization across the globe?
What are the market forecasts and estimates from the period of 2020-2027?
What are the major drivers, restraints, and opportunities in the global network function virtualization market?
Who are the major players in the global market and what share of the market do they hold?
How is the competitive landscape in global as well as regional NFV market?
What are the recent developments in the global network function virtualization market?
What are the different strategies adopted by the major players in the market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the global network function virtualization market and how do they compete with the other players?
Key Topics Covered:
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders
2 Research Methodology
2.1. Research Process
2.2. Data Collection & Validation
2.3. Market Assessment
3 Executive Summary
3.1. Market Analysis, by Component
3.2. Market Analysis, by Function
3.3. Market Analysis, by Application
3.4. Market Analysis, by End User
3.5. Market Analysis, by Geography
3.6. Competitive Analysis
4 Market Insights
4.2. Market Dynamics
4.3.1. Rising Demand for Network Virtualization for Automation
4.3.2. Growing Adoption of Cloud Services, Data Center Consolidation, And Server Virtualization
4.3.3. Emergence of Edge Computing
4.4.1. Security Risks Associated with The Network Function Virtualization Infrastructure
4.5.1. Growing Investments in 5G Technology
4.5.2. Rising Adoption of IoT Technology
4.5.3. Growing Demand for Private Cloud Solutions and Services
4.6.1. Misconception and Lack of Knowledge About Network Function Virtualization Solutions
4.6.2. Reliability Concerns with Network Function Virtualization Solutions
4.6.3. Lack of Skilled Workforce
4.7.1. Integration of Edge Computing into Network Function Virtualization
4.8. Impact of Covid-19 Pandemic on the Network Function Virtualization Market
5 Network Function Virtualization Market, by Component
5.3. Professional Services
5.4. Orchestration & Automation
6 Network Function Virtualization Market, by Function
7 Network Function Virtualization Market, by Application
7.2. Virtual Appliances
7.3. Core Network
7.3.1. Virtualized Evolved Packet Core
7.3.2. Virtualized Radio Access Network
7.3.3. Virtual Internet Protocol Multimedia Subsystem
7.3.4. Mobile Edge Computing
8 Network Function Virtualization Market, by End User
8.2.2. Media & Entertainment
8.3. Data Center
8.4. Service Providers
9 Network Function Virtualization Market, by Geography
9.2. North America
9.3.6. Rest of Europe
9.4. Asia Pacific
9.4.4. Rest of APAC
9.5. Latin America
9.6. Middle East & Africa
10 Competitive Landscape
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Market Share Analysis (2019)
11 Company Profile (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
11.1. Juniper Networks, Inc.
11.3. Cisco Systems, Inc.
11.4. Affirmed Networks
11.5. Mavenir Systems, Inc.
11.6. Ribbon Communications, Inc.
11.7. Fujitsu, Ltd.
11.8. Huawei Technologies Co., Ltd.
11.9. Ciena Corporation
11.10. Metaswitch Networks
11.11. Hewlett Packard Enterprise
11.12. Netscout Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qqnvt1
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