Market Outlook

The global network function virtualization market is estimated to touch USD 19 billion by 2022, as per MRFR’s report. It can exhibit a CAGR of 31% from 2016 to 2022. It can gain momentum during the forecast period due to growing digitization and popularity of internet of things (IoT). High demand for cloud services and data intensive applications which can reduce the expenses of procuring hardware can drive the market growth exponentially.

The enabling of innovative services on a trial-and-error basis is possible with the help of virtualization as well as its subsequent rollback is deemed to drive market growth. The low energy expenses by capitalizing on modern servers and storage devices can fuel the network function virtualization market. Moreover, the adoption of the software across industry verticals of government, retail, manufacturing, IT & telecom, and BFSI will augur favorably for the market valuation.

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The utilization of software defined network (SDN) for running a virtual network or server on top of the existing infrastructure. This allows the proper optimization of network resources and distributing the bandwidth into separate channel to lower the load on systems and reduce the probability of latency. The increasing dependence on data centers for high performance workloads and reducing data volume can positively impact the market demand.

Segmentation Analysis

The global network function virtualization market is segmented by application, deployment, infrastructure, and end-user.

By application, it is segmented into next generation signaling, service assurance, switching elements, and traffic analysis.

By deployment, it is segmented into cloud and on-premise. The cloud segment is predicted to be the biggest segment till 2022.

By infrastructure, it is segmented into virtualized resources, virtualized layer, and hardware resources.

By end-user, Global Network Function Virtualization Market segmented into BFSI, cloud service provider, communication service provider (CSP), and information technology. Information technology and cloud service providers are bound to be the biggest end-users in the network function virtualization market due to steps taken by companies to reduce the expenses for maintaining and operating hardware.

Regional Analysis

Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW) are major regions considered in the network function virtualization market report.

North America is expected to be the leading region in the market till 2022 due to the shift from conception of network architecture to deployment of NFV by telecommunication network operators. Investment in cloud and data centers, presence of various service providers, and adoption of industrial internet of things (IIoT) are drivers of the region. The shift to 5G technology by telecommunication network providers to offer seamless connectivity to users is expected to boost the regional market growth till the end of the forecast period.

The APAC region is projected to display a strong CAGR during the forecast timespan due to presence of various mobile service operators and data centers. Software behemoths maintaining a unit in China and India is likely to induce the demand for network function virtualization till 2022.

Competitive Outlook

Prominent names in the global network function virtualization market include NEC Inc., Ericsson, Juniper Networks, Open Wave Mobility Inc., Allot communications, Huawei technologies Co. Ltd., Connectem Inc., 6WIND, Amdocs Inc., Accenture PLC, Oracle Corporation, Alcatel-Lucent S.A., Cisco Systems, Inc., Nokia Corporation, Intel Corporation, and others.

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