Network Function Virtualization Market is estimated to be US$ 292.5 billion by 2032; Growing adoption of Digital Technologies to Fuel Market Growth

Published Date: May 2023

Network Function Virtualization (NFV) allows the separation of communication services from hardware such as firewalls and routers. This separation is the network operations, which provide new services dynamically and without the installation of new hardware.

Wide benefits such as pay-as-you-go models, which help reduce costs, have driven market growth. Technological advancement and new innovation have fueled the Network Function Virtualization Market's growth.

The report Network Function Virtualization Market, By Component (Solutions, Services), By Enterprise Size (Small Enterprises, Medium Enterprises, Large Enterprises), By Application (Core Network, Virtual Appliance), By End-Users (Data Centers, Service Providers, Healthcare, Banking, Manufacturing, Retail, Education, Defense and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

 Key Highlights:

  • In February 2017, Huawei’s Network Function Virtualization solution was awarded as a “Best Technology Enabler” at MWC (Mobile World Congress) 2017 in Barcelona. Huawei developed Network Function Virtualization solution by using Cloud Native Concept.

Analyst View:

Technological innovation has become a major contributor to market growth. Growing investment in the modernization of infrastructure has further facilitated the demand for market growth. Rapid growth in industrialization and adoption of automation technologies are expected to boost the demand for Network Function Virtualization market in the future.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on Network Function Virtualization Market, By Component (Solutions, Services), By Enterprise Size (Small Enterprises, Medium Enterprises, Large Enterprises), By Application (Core Network, Virtual Appliance), By End-Users (Data Centers, Service Providers, Healthcare, Banking, Manufacturing, Retail, Education, Defense and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Network Function Virtualization Market accounted for US$ 25.08 billion in 2022 and is estimated to be US$ 292.5 billion by 2032 and is anticipated to register a CAGR of 26.3%. The Network Function Virtualization Market is segmented based on Component, Enterprise Size, Application, End-Users and Region.

  • Based on Component, Network Function Virtualization Market is segmented into Solutions and Services.
  • Based on Enterprise Size, Network Function Virtualization Market is segmented into Small Enterprises, Medium Enterprises, Large Enterprises.
  • Based on Application, Network Function Virtualization Market is segmented into Core Network, Virtual Appliance.
  • Based on End-Users, Network Function Virtualization Market is segmented into Data Centers, Service Providers, Healthcare, Banking, Manufacturing, Retail, Education, Defense and Others.
  • By Region, the Network Function Virtualization Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Network Function Virtualization Market:

The prominent players operating in the Network Function Virtualization Market includes, Intel Corporation, Ericsson AB, Juniper Network Inc., Huawei Technologies Co. Ltd., Oracle Corporation, Opera Software, Nokia Solutions and Network, Alcatel-Lucent, Amdocs Inc., ConteXtream Inc., and others.

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