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

The manufacturing sector in the network function virtualization market is expected to witness the fastest growth while registering a CAGR of around 50% between 2018 and 2024 due to the large-scale implementation of IIoT technology leading to a rapid growth in the number of connected components in the industrial IT environment. In the manufacturing sector, companies are leveraging the latest data center technologies and the best design practices for enabling a better control over supply chains, enhancing productivity through automation and closely managing the manufacturing processes through the use of data processing solutions. Data center functions are being increasingly utilized to consolidate operations and to integrate different manufacturing processes.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2768

The network function virtualization 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.

Another important factor expected to drive the adoption of NFV solutions is the massive investment by telecom service providers for the commercialization of 5G. Some of the typical issues in complex carrier networks are a huge diversity in proprietary nodes & hardware appliances and the requirement of additional proprietary hardware for launching new services. NFV allows telecom carriers to use network resources without worrying about their physical location. With optimized network device utilization, carriers can use a single platform for different applications, users, and tenants. Also, by minimizing the typical network operator cycle of innovation, NFV reduces products time to network function virtualization market.

The hardware segment held a majority share of around 48% in 2017 in the global network function virtualization market due to the large-scale adoption of NFV servers for virtualizing diverse network functions such as firewalls, Network Address Translation (NAT), routing, and Internet Protocol Security (IPSec). As the market evolves, the software segment is expected to lead the network function virtualization market growth due to the extensive deployment of NFV-MANO platforms as well as VNF software applications meant for virtualizing a diverse set of network functions.

Network Function Virtualization Market was estimated at over USD 5 billion in 2017, and is set to hit USD 70 billion by 2024, to growing at a CAGR of over 42% from 2018 to 2024.

Growth drivers

• Significant CAPEX and OPEX savings for enterprises
• Optimized network scalability and agility offered by NFV
• Lower telecom carrier costs
• Demand for mobility
• Increasing demand for data center consolidation and server virtualization
•Growing investment in 5G network technology

Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2768

North America is expected to hold a majority share of the network function virtualization 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 network function virtualization 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.

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

Browse Full Report: https://www.gminsights.com/industry-analysis/network-function-virtualization-nfv-market

Browse Related Report:

Industrial Control Systems Security Market By Security Type, Component & Region-Forecasts, 2024

https://www.gminsights.com/industry-analysis/industrial-control-systems-ics-security-market

Some of the key players operating in the ICS security market are BAE Systems, Cisco, ABB, Cyberbit, Belden, Fortinet, Dragos, Honeywell, Rolloos, Raytheon, SecurityMatters, Trend Micro, Claroty, Symantec, IBM

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.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

This release was published on openPR.