Virtual Router

The service provider segment is anticipated to experience highest growth during the virtual router market forecast period.

PORTLAND, PORTLAND, OR, UNITED STATES, February 8, 2024 /EINPresswire.com/ -- A recent report released by Allied Market Research titled "Virtual Router Market by Component and End-User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025," reveals that the global market's value stood at $90.00 million in 2017 and is anticipated to reach $515.00 million by 2025, with a notable Compound Annual Growth Rate (CAGR) of 24.40% from 2018 to 2025.

A virtual router emulates the functionality of a hardware router through software, offering the same Layer 3 IP routing capabilities. Its significance has been increasing, especially among telecom service providers, due to several advantages such as reduced total cost of ownership (TCO), scalability, flexibility, and a pay-as-you-grow model. This shift in preference towards virtual routers has led to a growing global market.

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The surge in demand for enhancing network agility and scalability among service providers, coupled with the increasing adoption of software-defined networking (SDN) and network functions virtualization (NFV) technologies, has propelled the virtual router market forward. Additionally, the preference shift towards virtual routers and the growing need for cost-effective and agile cloud networking solutions are significant growth drivers. However, the market faces challenges due to the inability of virtual routers to perform heavy-duty core IP router functions.

Nevertheless, opportunities abound, particularly with the growing adoption of virtual router technology among small and medium-sized enterprises (SMEs) and the rising demand for private cloud solutions.

In terms of market segments, the solution segment dominated in 2017 and is expected to maintain its dominance due to the increasing commitment to multi-cloud architectures by various companies. Meanwhile, the services segment is projected to witness the highest growth rate during the forecast period, driven by its cost-effectiveness and ability to enhance operational security.

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The enterprise segment led the market in 2017, driven by large enterprises' adoption of virtual router technology to streamline routing functionalities and optimize networks. Conversely, the service provider segment is expected to witness the highest growth, given the essential nature of virtual routers for telecom service providers and carriers.

The report analyzes the major end users such as service providers and enterprises. The enterprise segment contributed the largest share in 2017, holding about 58% of the total market revenue, as virtual router eliminates the burden of installing and managing complex software and hardware. However, the service provider segment is expected to register the fastest CAGR of 25.1% during the study period, owing to the increased adoption of virtual routers among telecom and cloud service providers to design an optimal network architecture.

Geographically, Europe held the largest market share in 2017, attributed to increasing awareness of NFV and SDN benefits and a focus on cost savings. The Asia-Pacific region is expected to experience the highest growth rate, driven by the growing adoption of cloud-based technologies and the expansion of key players in the region's telecom industry. Additionally, strategic partnerships in emerging economies are facilitating market expansion.

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The key players analyzed in the report include 128 Technology, Cisco Systems, Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., Broadcom (Brocade Communications Systems), Juniper Networks, Nokia, International Business Machines Corporation (IBM), 6WIND, Ericsson, and Netronome. These market players have adopted several market strategies such as new product launch, partnerships, collaborations, and mergers & acquisitions to maintain its foothold in the industry.

These companies have economies of scale and a huge geographical presence. Some of the major key players profiled in the report include 128 Technology, Nokia, Cisco Systems, International Business Machines Corporation (IBM), Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., 6WIND, Broadcom (Brocade Communications Systems), Ericsson, Juniper Networks, Netronome, and others. These players have adopted various strategies to enhance their product & service offerings and increase their market penetration.

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