Network Function Virtualization Market Overview 2018-2024 By Key Players: Cisco, Huawei, Ericsson, VMware, Juniper, F5 Networks, Nokia, AT&T, HP, Citrix, NFWare, WindRiver, Riverbed, Broadcom, Oracle, Verizon, 6Wind, Arista, Amdocs, IBM

Market Overview: -

According to a new research report by the market research and strategy consulting firm, Global Market Insights, Inc, Network Function Virtualization (NFV) market is projected to surpass USD 70 billion by 2024. NFV is the abstraction of network functions that allow them to be installed, controlled, and manipulated through the software running on standardized hardware nodes. It incorporates virtualization and cloud technologies to enable rapid development and deployment of new network services with elastic scale and automation. The technology brings increased agility in delivering network services through enhanced capital efficiency by enabling on-demand deployment of new services and removing bottlenecks introduced by manual processes.

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Top Key Players: -

Some of the key players operating in the network function virtualization market are Cisco, Huawei, Ericsson, VMware, Juniper, F5 Networks, Nokia, AT&T, HP, Citrix, NFWare, WindRiver, Riverbed, Broadcom, Oracle, Verizon, 6Wind, Arista, Amdocs, IBM, and Pluribus.

Market share calculation in this report is not done based on companies covered in it. The calculation of network function virtualization market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

North America is expected to hold a majority share of the NFV market in 2017 due to the availability of an extensive data center ecosystem in the region, widespread adoption of industrial IoT (IIoT) in different industry verticals, and a major presence of leading global cloud service providers in the U.S. The U.S. government is moving swiftly to lead the world in 5G, the next generation of wireless connectivity. The Federal Communications Commission (FCC) is emphasizing on making additional low, medium, and high-band spectrum available for 5G services. It also focuses on reducing regulatory barriers to encourage investments in 5G networks.

Asia Pacific NFV market is projected to grow with the highest CAGR of around 50% during the forecast period. The increasing adoption of cloud-based computing and storage technology by SMEs in the region, expansion of data center ecosystem in the region by leading global cloud service providers, and large-scale investment in 5G testing and commercialization by telecom carriers in China are some of the major factors influencing the growth of the Asia Pacific NFV market.

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Partial Chapter of the Table of Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope
1.1.5. Definition
1.1.6. Methodology and forecast parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
1.2.2.1. Paid sources
1.2.2.2. Public sources
Chapter 2. Executive Summary
2.1. NFV industry 360º synopsis, 2013 - 2024
2.1.1. Region trends
2.1.2. Component trends
2.1.3. Hardware trends
2.1.4. Software trends
2.1.5. Service trends
2.1.6. Application trends
Chapter 3. NFV Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. NFV industry landscape
3.4. Industry ecosystem analysis
3.5. Features/benefits of NFV solutions
3.6. Technical network challenges for NFV
3.7. NFV architectural framework
3.8. SDN and NFV
3.9. Technology & innovation landscape
3.9.1. Network as a service
3.9.2. Software-defined Wide Area Networking (SD-WAN)
3.9.3. Virtual Customer Premise Equipment (vCPE)
3.10. Regulatory landscape
3.10.1.1. ISO/IEC 270001
3.10.1.2. Personally Identifiable Information (PII) Protection Controls of ISO/IEC 27018
3.10.1.3. European Telecommunications Standards Institute (ETSI) GS NFV -IFA 008
3.10.1.4. IEEE SDN/NFV Standardization
3.10.1.5. The National Institute of Standards and Technology (NIST) guidelines
3.10.1.6. The Open Compute Project and OPNFV
3.10.1.7. Gramm-Leach-Bliley Act of 1999
3.10.1.8. The Network and Information Security (NIS) Directive
3.11. Industry impact forces
3.11.1. Growth drivers
3.11.1.1. Significant CAPEX and OPEX savings for enterprises
3.11.1.2. Optimized network scalability and agility offered by NFV
3.11.1.3. Lower telecom carrier costs
3.11.1.4. Increasing demand for mobility
3.11.1.5. Increasing demand for data center consolidation and server virtualization
3.11.1.6. Growing investment in 5G network technology
3.11.2. Industry Pitfalls and Challenges
3.11.2.1. Lack of in-house technical expertise
3.11.2.2. Security concerns
3.11.2.3. Integration and interoperability issues
3.12. Porter’s Analysis
3.13. PESTEL analysis
3.14. Growth potential analysis

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The NFV market is projected to register a CAGR of over 42% between 2018 and 2024. This robust growth can be attributed to the growing demand for server virtualization and data center consolidation. Data center consolidation involves reforming old data center facilities, architecture, network transformation, optimization, resource integration, and system migration to make them more energy-efficient, agile, reliable, and economical to offer sustainable development.

As networks become more programmable, data center operations can be conducted in a more agile manner. As SDN and NFV are driving the convergence of data center and IT & telecommunications, they offer data center managers an improved scalability and flexibility to accommodate changing market demands.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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