Press release
Virtual Router Market Predicted to Reach $515 Million by 2025 - Prominent Industry Players 128 Technology, 6WIND, Broadcom, Cisco Systems, Ericsson, Hewlett Packard Enterprise, Huawei Technologies, IBM, Juniper Networks, Netronome, Nokia
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Increase in need to improve network agility and efficient scale out by service providers, growth in demand for software-defined networking (SDN), network functions virtualization (NFV) technologies, shift in preference toward virtual router, and rise in requirement of scalable, agile, and cost-efficient cloud networking solution, majorly boost the growth of the market.
However, the inability of the virtual router to perform functions of heavy duty core IP routers is expected to hamper the growth of the global virtual router market.
Based on the component, the solution segment dominated the global virtual router market in 2017 and is expected to continue this trend during the forecast period owing to growth in demand for virtual router solutions as numerous companies are expected to commit to multi-cloud architectures, both public and private, and from several different providers.
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Furthermore, the services segment is expected to grow at the highest CAGR during the forecast period, as it provides a cost-effective way of allowing easy access and keeping operations activity more secure for the organizations.
The global virtual router market was led by the BFSI segment in 2017 and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth, as an adoption of the virtual router has become essential for healthcare organizations, due to rise in concerns regarding security, cost, and complexity.
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