Global network function virtualization market is anticipated to reach over USD 125 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
According to the latest report, with regards to the component, the hardware segment led the global market revenue in the year 2017. In terms of geographical contribution, North America market dominated the global space in the year 2017.
As per the report, the surging demand for mobile broadband services, and the high demand for mobility has augmented the implementation of network function virtualization. The burgeoning penetration of mobiles and the rising trend of BYOD (Bring Your Own Device) further support market expansion. The increasing adoption of virtualization, big data analytics, and cloud computing has added impetus to market demand over the last few years. Growing funding by vendors for enhancing technology in consort with developments in 5G network technology would escalate the NFV market growth over the estimated period. Rising demand from emerging nations as well as technological enhancement is projected to offer plenteous growth opportunities over the future, cites the report.
Speaking of the regional snapshot, North America market amassed the highest revenue in the global market in the year 2017 and is predicted to dominate the worldwide market over the forecast timeline. The high revenue contribution of North America can be attributed to the burgeoning demand for mobility services and the rising need for data center consolidation. Also, the escalating trend of IoT, big data analytics, and BYOD further enhances NFV demand in the region. The report cites that the rising penetration of mobiles and technological enhancements would add new revenue streams to the network function virtualization market. The surging demand for cloud servers and decreasing telecommunication carrier prices further advance market share. The findings of the study also suggest that the Asia-Pacific market is projected to grow at the highest CAGR over the estimated duration owing to rising demand from the emerging nations of the region.
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The foremost players profiled in the global network function virtualization market include Oracle Corporation, Citrix Systems, Inc., AT&T Inc, Hewlett Packard Enterprise Co., NEC Corporation, Big Switch Networks, Inc., Intel Corporation, Cisco Systems, Inc., Brocade Communications Systems, Inc., and Juniper Networks, Inc. The report also details the company profiles of these market contenders under the heads of overview, financials, product benchmarking, and recent developments. These organizations launch new NFV services and join forces with other key players to launch innovative services that suffice customer demands in a better way.
Across-the-board information relating to the market share attained by each end user fragment, including BFSI, healthcare, IT and telecom, retail, manufacturing, and others, in consort with the details pertaining to the growth rate which each fragment is estimated to garner during the projected timeline have been illuminated in the report.
The NFV market report examines the global and regional market potential and advantages, opportunities and challenges, restraints and risks over the forecast period. It also highlights significant trends, drivers, and top influencing factors in the global and regional market.