The growing necessity for advanced network management systems to handle the growing network traffic and complexities are some of the significant factors driving the growth of the network function virtualization market. Moreover, the growing popularity of digitization and increasing adoption of the internet of things (IoT), are some other factors driving the growth network function virtualization market.
The network function virtualization (NFV) market is predicted to witness a sharp development as network virtualization technologies allow enterprises to reduce the costs associated with the procurement and maintenance of hardware equipment. The network function virtualization helps to deliver network services in a more mountable way as compared to the traditional networking approach. By deploying these solutions, they can also handle multiple workloads with improved performance and maximum uptime.
Some of the key players influencing the market are
Affirmed Networks, Cisco Systems, Inc., Ericsson, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Juniper Networks, Inc., Netcracker, NETSCOUT, Nokia, VMware, Inc
The global network function virtualization (NFV) market is segmented on the basis of component, network functions, applications, end users. On the basis of component, the market is segmented as solutions, orchestration and automation, services. On the basis of network functions, the market is segmented as compute, storage, and network.