Network Function Virtualization Market Size | COVID-19 Impact Analysis | Forecast to 2027

The global network functions virtualization market is projected to grow from US $ 12.9 billion in 2019 to US $ 36.3 billion by 2024, with a compound annual growth rate (CAGR) of 22% during the forecast period. Key factors driving the NFV market include the growing need for advanced network management systems to handle increasing network traffic and complexity.

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Some of the major players in the Network Function Virtualization market include Alcatel-Lucent, Ericsson AB, 6Wind SA, Huawei Technologies Co. Ltd., Amdocs Inc., Nokia Solutions and Network, CIMI Corporation, Connectem Inc., Intel Corporation, ConteXtream Inc., Juniper Network Inc., F5 Network Inc., Open Wave Mobility Inc., NEC Inc., Opera Software, HP and Oracle Corporation. Increased R&D spending is expected to be a key growth strategy adopted by industry participants. For example, Intel Corporation developed a technology that enables modems to act as virtual servers. Market participants are focused on strategies such as collaboration, merger & acquisition to enter a new market along with new product development, increased R&D spending, and innovation in order to establish a foothold in the market.

Network Function Virtualization Market Segments:

Based on Components:

• Solutions
• Orchestration and Automation
• Services

Based on virtualized Network Functions

• Compute
• Storage
• Network

Based on Applications:

• Virtual Appliance
• Core Network

Based on End Users:

• Service Providers
• Data Centers
• Enterprises

o Banking, Financial Services, and Insurance (BFSI)
o Healthcare
o Retail
o Manufacturing
o Government and Defense
o Education
o IT-enabled Services
o Others (Hospitality, transportation and logistics, media and entertainment, and utilities)

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Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Network Function Virtualization Market Report

• What was the Network Function Virtualization Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Network Function Virtualization Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the Network Function Virtualization Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

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This release was published on openPR.