Network Function Virtualization Global Market Report 2024

Network Function Virtualization Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 21, 2024 /EINPresswire.com/ -- The network function virtualization market has experienced robust growth in recent years, expanding from the market is projected to grow from $22.29 billion in 2023 to $26.86 billion in 2024, reflecting a compound annual growth rate (CAGR) of 20.5%. The growth during the historical period can be linked to several factors, including the need to reduce costs in network infrastructure, the increasing demand for scalability and flexibility, advancements in virtualization technologies, a rise in data traffic and network complexity, and the ongoing transition to software-defined networking (SDN).

What Is The Estimated Market Size Of The Global Network Function Virtualization Market And Its Annual Growth Rate?
The network function virtualization market is projected to continue its strong growth, reaching the market is anticipated to reach $57.11 billion by 2028, growing at a compound annual growth rate (CAGR) of 20.8%. This growth in the forecast period can be attributed to several factors, including a focus on edge computing, heightened demand for network automation, an emphasis on network security within virtualized environments, reductions in both capital and operating costs, and the optimization of networks and associated processes.

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Growth Driver of The Network Function Virtualization Market
The rising popularity of Internet of Things (IoT) Devices is expected to propel the growth of the network function virtualization market going forward. IoT devices refer to physical objects or devices that are embedded with sensors, software, and connectivity capabilities to collect and exchange data over the internet. Internet of Things (IoT) devices use network function virtualization in remote management, configuration, and creation of service chains in a specific order to process Internet of Things (IoT data effectively.

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Which Market Players Are Driving The Network Function Virtualization Market Growth?
Key players in the market include Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., VMware Inc., Nokia Corporation, Hewlett Packard Enterprise Company, Dell Technologies Inc., Juniper Networks Inc., Affirmed Networks Inc., NetScout Systems Inc., NEC Corporation, Ribbon Communications Operating Company Inc., ZTE Corporation, Fujitsu Limited, Ciena Corporation, Amdocs Limited, Mavenir Systems Inc., Radisys Corporation, Accenture plc, ECI Telecom Ltd., Metaswitch Networks Ltd., Wind River Systems Inc., Comba Telecom Systems Holdings Ltd., Red Hat Inc., Intel Corporation, Redline Communications Group Inc., Arista Networks Inc., Broadcom Inc., F5 Networks Inc., Fortinet Inc.

What Are The Key Trends That Influence Network Function Virtualization Market Share Analysis?
Key players in the network function virtualization market are developing advanced technological solutions, such as the ATBeX NFV Service, to boost their profitability. The ATBeX NFV Service is a network virtual appliance solution aimed at creating a virtualized infrastructure for various network functions.

How Is The Global Network Function Virtualization Market Segmented?
1) By Component: Solutions, Orchestration And Automation, Services
2) By Infrastructure: Hardware Resources, Virtualized Resources
3) By Application: Virtual Appliance, Core Network
4) By End User: Service Providers, Data Centres, Enterprises

Geographical Insights: North America Leading The Network Function Virtualization Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Network Function Virtualization Market Definition
Network function virtualization (NFV) is a strategy that allows network operators to speed up service deployment by separating functions like firewalls or encryption from dedicated hardware and transferring them to virtual servers. This model enables network services to be installed and managed through software on standardized computing nodes, moving away from reliance on proprietary hardware. By integrating virtualization and cloud technologies, NFV fosters the development of new network services with enhanced scalability and automation. Overall, NFV enhances network responsiveness, flexibility, and scalability.

Network Function Virtualization Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global network function virtualization market report covering trends, opportunities, strategies, and more
The Network Function Virtualization Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on network function virtualization market size, network function virtualization market drivers and trends, network function virtualization market major players and network function virtualization market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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