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

The replacement of network appliance hardware with virtual machines is called "network function virtualization" (NFV). NFV also allows the virtual network function to run on a standard generic server, which is likely to propel market growth.

Adoption of digital technology and the need for cost-effective and efficient network management systems have contributed to target market growth. High adoption of automation technologies such as artificial intelligence (AI) and the Internet of Things (IoT) is expected to provide lucrative opportunities for Network Function Virtualization market growth.

Wide benefits and rising need for advanced network management systems to fuel market growth

Rising need for advanced network management systems to handle growing network traffic and complexities and wide benefits of NFV has contributed in market growth. Growing need for better optimization in business services and demand for advanced management systems is likely to propel Network Function Virtualization market growth. Wide variety of benefits such as easier network upgrades, reduction in hardware and maintenance costs, reduction in network power consumption & network maintenance cost, longer lifecycles for network hardware has given rise in demand for Network Function Virtualization market growth.

Restrains:

However, security risks such as physical security controls are not effective which led to new kinds of attacks has hampered market growth. Difficulty in isolating malware and less transparency of network traffic has restrained the Network Function Virtualization market growth.

Network Function Virtualization Market is segmented based on Component, Enterprise Size, Application, End-Users and Region.

Component Insight

On the basis of Component, Network Function Virtualization Market is segmented into Solutions and Services. The solution segment is expected to dominate the target market growth due to growing adoption of automation and virtualization technologies and demand for mobility services.

Enterprise Size Insights

On the basis of Enterprise Size, Network Function Virtualization Market is segmented into Small Enterprises, Medium Enterprises, Large Enterprises. Large Enterprises is expected to dominate the target market growth due to adoption of virtualization solutions, network functions and services.

Application Insights

On the basis of Application, Network Function Virtualization Market is segmented into Core Network, Virtual Appliance. Virtual Appliance is expected to dominate the target market growth due to its wide variety of network operations such as traffic monitoring, forwarding, caching, security, domain name services and intrusion detection systems.

End-Users Insights

On the basis of End-Users, Network Function Virtualization Market is segmented into Data Centers, Service Providers, Healthcare, Banking, Manufacturing, Retail, Education, Defense and Others. Service Providers is expected to dominate the target market growth due to growing adoption of smartphones, rising data diversity and volume and consumption of higher data per user.

Regional Insights:

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

On region the Network Function Virtualization Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period. Moreover, high disposable income, technological innovation, high adoption of digital technologies such as cloud computing, Software Defined Everything (SDx), IoT (Internet of Things), rapid growth in industrialization is anticipated to increase demand for Network Function Virtualization in the region.

Asia Pacific market is expected to witness rapid growth over the forecast period due to rapidly growing industrialization, favorable government policies, adoption of digital technologies, etc.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Network Function Virtualization Market report based on Component, Enterprise Size, Application, End-Users and Region.

Network Function Virtualization Market, By Component:

• Solutions
• Services

Network Function Virtualization Market, By Enterprise Size:

• Small Enterprises
• Medium Enterprises
• Large Enterprises

Network Function Virtualization Market, By Application:

• Core Network
• Virtual Appliance

Network Function Virtualization Market, By End-Users:

• Data Centers
• Service Providers
• Healthcare
• Banking
• Manufacturing
• Retail
• Education
• Defense
• Others

Network Function Virtualization Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating 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.

• Intel Corporation*
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• Ericsson AB
• Juniper Network Inc.
• Huawei Technologies Co. Ltd.
• Oracle Corporation
• Opera Software
• Nokia Solutions and Network
• Alcatel-Lucent
• Amdocs Inc.
• ConteXtream Inc.

“*” marked represents similar segmentation in other categories in the respective section

Recent Development:

• In March 2021, Ericsson launched new “Ericsson Open Lab” a new space to innovate and collaborate with Ericsson’s Cloud RAN consumers and partners to drive network virtualization technologies. New launched “Ericsson Open Lab” is a physical and virtual space for fast interactive collaboration.
• In April 2021, Amdocs DOX announced its service and network automation platform for Cloud Orchestration and NFV (Network Functions Virtualization) to be implemented by Globe Telecom (Philippines telecommunications provider).