Network Function Virtualization Market Size Report, Industry Share, Analysis, Growth, 2032

Network Function Virtualization Market Insights

According to Zion Market Research, the global Network Function Virtualization Market was worth USD 33.73 Million in 2023. The market is forecast to reach USD 235.47 Million by 2032, growing at a compound annual growth rate (CAGR) of 24.1% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Network Function Virtualization industry over the next decade.

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This report analyzes and estimates the network function virtualization market at the global, regional, and country levels. The research study provides historic data from 2016 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion). Assessment of the network function virtualization market provides detailed insights into the market drivers and restraints along with their impact analysis at a global level from 2016 to 2026.

The report covers in-depth analysis of the strategies adopted by major competitors in the network function virtualization market. To understand the competitive landscape in the network function virtualization market, an analysis of Porter’s Five Forces model is also included. The research study comprises of market attractiveness analysis, wherein component, enterprise size, virtualized network functions, applications, and regional segments are benchmarked on the basis of their market size and growth rate.

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Network Function Virtualization Market Growth Drivers

Because of its cost-saving qualities, which enable businesses to minimize the costs linked to the maintenance and acquisition of hardware equipment, the market for network functions virtualization is expected to experience growth over the next few years. When compared to the traditional method of networking, the utilization of network function virtualization technology contributes to the operation of a more reliable network. Network functions such as network address translation, firewalls, intrusion detection, and domain name service can be decoupled using NFV. It is projected that the growing demand for data-intensive applications in the mobile industry, together with the rising demand for network capacity to suit the expectations of customers, will fuel market demand for network functions virtualization in the forecast period.

In addition, the increasing demand for and acceptance of network virtualization solutions by companies are the primary reasons that are projected to propel market expansion. This is because network virtualization solutions enhance faster server and prompt deployment of network services. Because of the consolidation of applications and servers space as well as data backup, it is projected that the small and medium-sized enterprises will experience a large growth in demand for virtualization solutions.

The growing market need for NFV solutions is also being supported by the increasing commercialization of 5G networks. In addition, this will further improve the functionality of the 5G network while also increasing its agility. However, there is a dearth of experienced workers, and there are issues in troubleshooting throughout the NFV network, which is projected to be a barrier to the growth of the market in the foreseeable future.

Network Function Virtualization Market: Report Scope

Region Analysis Preview

The research study provides a decisive view on the network function virtualization market based on component, enterprise size, virtualized network functions, applications, and region. All the segments of the network function virtualization market have been analyzed based on the past, present, and future trends. The market is estimated from 2016 to 2026. The regional segment is further split into the U.S., Canada, Mexico, UK, France, Germany, China, Japan, India, South Korea, Brazil, and Argentina among others.

Key Market Players & Competitive Landscape

Detailed analysis of the major players in the global network function virtualization market includes their financial overview, business strategies, recent developments, and the product offered by them in the market. This will help in assessing the market competition. Key competitors included in this report are 

• Ericsson Telecommunications
• Cisco Systems
• VMware Incorporation
• Huawei Technologies Co.Ltd
• Hewlett Packard Enterprise
• Dell EMC
• NETSCOUT
• Nokia Corporation
• ZTE Corporation 
• Fujitsu 
• among others.

This report segments the global network function virtualization market as follows:

By Component

• Services
• Orchestration and Automation
• Solutions

By Enterprise Size

• Large enterprises
• SMEs

By Virtualized Network Functions

• Storage
• Network
• Compute

By Applications

• Virtual Appliance
• Core Network

Global Network Function Virtualization Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa