Network Function Virtualization Market Outlook, Competitive Strategies And Forecast
The global network functions virtualization market size is anticipated to reach USD 167.03 billion by 2030, registering a CAGR of 26.9% over the forecast period, according to a new report by Grand View Research, Inc. The market is anticipated to witness significant growth over the forecast period, ascribed to the increased deployment of virtualized software in enterprise data centers.
The network functions virtualization market is characterized by the ability to manage and orchestrate the virtual resources to provide network functions and their composition into higher-layer network services. Innovation and advancement are primarily driven by the growing demand for network function virtualizations across the U.S.
Security issues such as insolation failure risk, regulatory compliance failure, and denial of service protection failure, among other security issues about network functions virtualization, are anticipated to restrain the market growth.
The network functions virtualization component outlook segment is expected to witness significant growth. The component outlook segment consists of solutions and services. The solution segment is estimated to witness the largest share. This growth is ascribed to increasing IT productivity and demand for network virtualization software compliant to run on standard server platforms.
The organization size segment comprises small & medium enterprises and large enterprises. The large-scale enterprises are estimated to yield significant market share, owing to the growing significance of network infrastructure and rising demand for affordable and better hardware and software required for NFV.
Gather more insights about the market drivers, restrains and growth of the Network Function Virtualization Market
Network Functions Virtualization Market Report Highlights
• The market is expected to witness a CAGR of 26.9% over the next eight years, owing to the increasing deployment of virtualized software in enterprise data centers globally
• The solution segment accounted for the largest revenue share of over 74.0% in 2021. The rising demand for network virtualization is the major factor influencing market growth
• Increasing IT productivity, distinctively in developing economies, has considerably contributed to the market's growth
• The large-scale organization size segment is expected to witness a significant CAGR of 26.3% over the forecast period owing to rising demand for affordable and better software and hardware required for network functions virtualization
• The virtual appliance application segment was expected to dominate the market segment in 2021 and is expected to witness a CAGR of 28.2% over the conjecture owing to the numerous benefits accessible by network functions virtualization
• The Asia Pacific dominated the market in 2021 and accounted for the largest revenue share of more than 34.0%, owing to the extensive adoption of network functions virtualization in the region
Network Functions Virtualization Market Segmentation
Grand View Research has segmented the global network functions virtualization market based on component, organization size, application, end-user, and region:
Network Functions Virtualization Component Outlook (Revenue, USD Million, 2017 - 2030)
• Solutions
• Services
Network Functions Virtualization Organization Size Outlook (Revenue, USD Million, 2017 - 2030)
• Small & Medium Enterprises
• Large Enterprises
Network Functions Virtualization Application Outlook (Revenue, USD Million, 2017 - 2030)
• Virtual Appliance
• Core Network
Network Functions Virtualization End-user Outlook (Revenue, USD Million, 2017 - 2030)
• Service Providers
• Data Centers
• Enterprises
o Banking, Financial Services, and Insurance (BFSI)
o Healthcare
o Retail
o Manufacturing
o Government and Defense
o Education
o Others
Network Functions Virtualization Regional Outlook (Revenue, USD Million, 2017 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
o Mexico
• Middle East & Africa (MEA)
Order a free sample PDF of the Network Function Virtualization Market Intelligence Study, published by Grand View Research.
