Virtual Network Functions Market Trends 2020 and Industry Forecast 2026
Global Virtual Network Functions Market Research Report, By Component (Hardware, Software, And Services), By Organization Size (Sme And Large Enterprises), By Deployment, And By End-Users - Forecast Till 2023
Market Synopsis
The global market for virtual network functions is expected to grow to around USD 25 billion by 2023, at a 30% CAGR over the review period (2017-2023).
Virtual Network Function (VNF) is generally known by another name in the industry as Network functions virtualization (NFV). They are often used interchangeably, as both of them concentrate primarily on enhancing network services, unlike Software-Defined Networking (SDN), which segregates the control and forwarding plane for a centralized view of the network. Virtual network function is developed to integrate and facilitate networking components, essential to give a backup for a full virtualized environment. Additionally, a VNF handles a specific network functions that are implemented on one or more virtual machines (VMs) mounted on the hardware networing components such as servers, storage, routers, switches,and others.
Key Players
Some of the market players of Virtual Network Functions market include Cisco Corporartion (U.S.), Alcatel-Lucent (France), Ericsson (Sweden), F5 networks (U.S.), Huwaei (China) , Tech Mahindra (India), Ribbon Communications (U.S.), Trend Micro (Japan), Telefonica (Spain), Verizon Communications (U.S.), Fujitsu (Japan), NEC corporation (Japan), HP Enterprise( U.S.), and Aricent Incorporation (France).
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Segmentation
The Virtual Network Functions Market is differentiated by component, organization size, deployment, and end-user.
By component, the virtual network functions market is sub-segmented as hardware, software, and services. The hardware sub-segment comprises switches, servers, storage, and others. The software sub-segment comprises application software, network security, and load balancing. Furthermore, the service sub-segment is categorized as training & support, consulting service, integration & implementation and others. On the basis of deployment, the market is comprised on-premises and on-cloud. Based on the organization size, the market is categorized as large enterprises and Small & Medium Enterprises (SMEs).
Furthermore, on the basis of end-user, the market is classified as BFSI, IT & telecom, manufacturing, healthcare, government, and others.
Regional Assessment
North America is presumed to have a significant growth in the virtual network functions market. The United States and Canada are leading countries in the region. This is due to advanced telecom services in the region. Europe is also expected to have a substantial growth in the market. The United Kingdom, France, and Germany are expected to be leading countries due to the increase in service providers, who will mainly emphasize on virtual network platforms over the next few years. Asia Pacific is also anticipated to be the fastest growing region in the virtual network functions market over the forecast period. India, Japan, and China are the leading countries in the Virtual Network Functions market, owing to surge in usage of smartphones, tablets, and laptops and the increased availability of content offered over IP.
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LIST OF TABLES
Table1 World Population By Major Regions (2017 To 2023)
Table2 Global Virtual Network Function Market: By Region, 2017-2023
Table3 North America Virtual Network Function Market: By Country, 2017-2023
Table4 Europe Virtual Network Function Market: By Country, 2017-2023
Table5 Asia Pacific Virtual Network Function Market: By Country, 2017-2023
Continued……
LIST OF FIGURES
FIGURE 1 Global Virtual Network Function Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Virtual Network Function Market
FIGURE 4 Value Chain Of Global Virtual Network Function Market
FIGURE 5 Share Of Global Virtual Network Function Market In 2017, By Country (In %)
Continued…….
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