Report Id: SNS/ICT/1389 | May 2022 | Region: Global | 130 Pages
Report Score & Overview:
Network Function Virtualization (NFV) Market size was valued at USD 21.17 Bn in 2022 and is expected to reach USD 116.70 Bn by 2030, and grow at a CAGR of 23.78% over the forecast period 2023-2030.
Network function virtualization (NFV) is a virtual network that is made up of a combination of hardware and software. It aids in the optimization of networks and related processes, as well as the reduction of power consumption, lowering equipment costs. It allows several apps to be accessed from a single network appliance. Network function virtualization provides a significant reduction in capital and operating costs. Hundreds of network devices, such as switches, workstations, hubs, routers, firewalls, virtual machines, servers, and other network-related components, make up a business network. Because network function virtualization solutions may give insights into bandwidth usage, network traffic, protocol analysis, and business applications, they are required for maintaining and controlling these devices. Identifying risks, detection, and moderation of security assaults, as well as improved network design in the future, all require different sorts of solutions.
VodafoneZiggo Chooses Amdocs Network Virtualization Solutions to Help Dutch Businesses Transition to Service Cloud Networks. Amdocs will offer VodafoneZiggo with an agile, feature-rich solution set enabling corporate clients to construct their own virtual private networks, with the opportunity to add-on future features such as security and other enterprise apps, all of which will be managed by Amdocs in the cloud.
Enterprise data centers, including internet service providers (ISPs) and cloud service providers, are increasingly deploying virtualized software (CSP).
Allowing operators more freedom in traffic control to increase network efficiency.
Enables firms to lower their operational expenses.
This market is hampered by a delay in the implementation of this technology.
Over the next five years, automation will have the greatest influence on networking.
Demand for network virtualization and automation is increasing.
Need for data-intensive applications is increasing, as is the demand for cloud-based services.
IMPACT OF COVID-19:
The COVID-19 epidemic has had a negative impact on several economies all around the world. Lockdowns, social distance, and quarantines used to combat COVID-19 have had a significant negative impact on various businesses throughout the world, including the IT and telecommunications sectors. Enterprise virtual private network (VPN) servers have become a lifeline for enterprises and schools, with some people working from home and kids learning digitally.
In early 2020, China, one of the world's top producers and consumers of endpoint devices like as smartphones, PCs, and tablets, began to assess the impact of the COVID-19 outbreak on the worldwide network function virtualization industry. The closure of production factories in China for a few months, as well as limitations on the export and import of endpoint devices to and from China's restricted region, disrupted the supply chain and had a significant impact on the industry's production, sales, and operations. Furthermore, due to COVID 19, 3GPP, the worldwide organization creating 5G technology, announced a three-month delay in the completion of 5G standards in March 2020. The commercial development of NFV devices and 5G deployments would be slowed if releases are delayed. The COVID-19 epidemic has sent global economic activity into a tailspin never seen before. As a result, interruptions in the supply chain and delays in the release of 5G standards are expected to have a negative impact on the worldwide network function virtualization market.
Various networking functions, such as traffic forwarding, traffic monitoring, security, caching, intrusion detection system, and domain name service, are included in virtual appliances. These tasks are commonly carried out over the edge using Virtual Customer Premise Equipment (VCPe). This has had a significant impact on businesses' efforts to simplify their network complications, and the category is likely to grow at a healthy pace in the future years.
Software-Defined Networking (SDN) controllers, virtual infrastructure managers, NFV orchestrator, and Wide Area Network (WAN) configuration are just a few of the components that make up orchestration and automation. Orchestration's major goal is to automate and improve network service development using a mix of Virtualized Network Functions (VNFs), scalability, self-healing, and network service resource lifecycle management. When there are no cross-domain network orchestrators, VNFs interface with service orchestrators. Because of the usefulness and criticality of orchestration and automation, it is widely used, especially when there is no vendor lock-in and the solutions are customized and off the shelf.
Enterprise clients are quickly adopting NFV because it provides major benefits such as centralized network administration, increased IT agility, and network customization through fast and reliable application services. Banking, Financial Services, and Insurance (BFSI), manufacturing, retail, healthcare, education, transportation and logistics, energy and utilities, and others, which include hospitality, transportation and logistics, media and entertainment, and utilities, have all been classified as enterprise customers. NFV implementation is currently widespread throughout the BFSI, retail, industrial, and healthcare industries.
On The Basis of Components:
Orchestration and Automation
On The Basis of Virtualized Network Functions:
On The Basis of Applications:
On The Basis of End Users:
Banking, Financial Services, and Insurance
Government and Defense
On The Basis of Enterprise Size:
North America is expected to dominate the global network function virtualization market in 2021, followed by Europe, Asia Pacific, Latin America, the Middle East, and Africa. During the projected period, however, the Asia-Pacific area is predicted to develop rapidly. The increased use of technologies such as cloud computing, software-defined everything (SDx), and the Internet of Things (IoT) is driving this region's fast growth. Furthermore, factors such as the quick spread of 4G in APAC's developing countries, growing subscriber base, favorable government policies and regulations, and the need for greater data storage and security are projected to aid the region's rapid growth in the next years.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Ericsson AB, Hewlett Packard Enterprise, VMware Inc., Nokia Corporation, Huawei Technologies, 6WIND, A10 Networks, Affirmed Networks, Allot Communications, Amdocs.
|Market Size in 2022||US$ 21.17 Bn|
|Market Size by 2030||US$ 116.70 Bn|
|CAGR||CAGR of 23.78% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Component (Solutions, Orchestration and Automation, and Services)
• by Virtualized Network Functions (Compute. Storage, Network)
• by Applications (Virtual Appliance and Core Network)
• by End Users (Service Providers, Data Centers, Enterprises, Banking, Financial Services, and Insurance, Healthcare, Retail, Manufacturing, Government and Defense, Education, IT-enabled, Services, Others)
• by Enterprise Size (SMEs and Large enterprises)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Ericsson AB, Hewlett Packard Enterprise, VMware Inc., Nokia Corporation, Huawei Technologies, 6WIND, A10 Networks, Affirmed Networks, Allot Communications, Amdocs|
|Key Drivers||• Enterprise data centers, including internet service providers (ISPs) and cloud service providers, are increasingly deploying virtualized software (CSP).
• Allowing operators more freedom in traffic control to increase network efficiency.
|Market Opportunities||• Over the next five years, automation will have the greatest influence on networking.
• Demand for network virtualization and automation is increasing.
Frequently Asked Questions (FAQ) :
Ans:- The Network Function Virtualization (NFV) market size was valued at USD17.11Bn in 2021.
Ans:- This market is hampered by a delay in the implementation of this technology.
Ans:- North America is expected to dominate the global network function virtualization market in 2021.
Ans:- The primary growth tactics of Artificial Intelligence in Accounting market participants include merger and acquisition, business expansion, and product launch.
Ans:- Key Stakeholders Considered in the study: Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGOs, Commercial research & development (R&D) institutions, Importers, and exporters.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Network Function Virtualization (NFV) Market Segmentation, by Components
8.2 Orchestration and Automation
9. Network Function Virtualization (NFV) Market Segmentation, by Virtualized Network Functions
10. Network Function Virtualization (NFV) Market Segmentation, by Applications
10.1 Virtual Appliance
10.2 Core Network
11. Network Function Virtualization (NFV) Market Segmentation, by End Users
11.1 Service Providers
11.2 Data Centers
11.4 Banking, Financial Services, and Insurance
11.8 Government and Defense
11.10 IT-enabled Services
12. Network Function Virtualization (NFV) Market Segmentation, by Enterprise Size
12.2 Large enterprises
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Ericsson AB
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Hewlett Packard Enterprise
14.3 VMware Inc.
14.4 Nokia Corporation
14.5 Huawei Technologies
14.7 A10 Networks
14.8 Affirmed Networks
14.9 Allot Communications
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
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