Market Overview:
Prior to the existence of Virtual Network Functions (VNFs), the operational tasks were carried out by dedicated hardware. VNFs transfer individual network functions from dedicated hardware devices into software that is executed on commodity hardware. These executions are implemented by network service providers and businesses, which include Domain Name System (DNS), firewalls, caching or Network Address Translation (NAT). VNFs could be interfaced together like elementary building blocks in a workflow, popularly known as service chaining. By the implementation of VNFs, application provisioning process and service chaining process are feasible and convenient.
However, increase in telecom service providers and surge in demand for cloud services are expected to be driving factors for the virtual network function market over the forecast period.
Moreover, increased market development in virtual network functions is expected to add fuel to the growth of virtual network function market. For instance, on November 2016, Tech Mahindra, an India-based leading consulting, business engineering, and integration company and an expert in digital transformation, networks, and operations for communications industry, unveiled their Virtual Network Function (VNF) Exchange, associated with numerous new age providers of Network Functions Virtualization (NFV) and Software Defined Networks (SDN) products. Additionally, Verizon Communication partnered with Amazon web services to provide virtual network services.
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The virtual network functions market is categorized into component, organization size, deployment, and end-user.
By component, the virtual network functions market is sub-divided into hardware, software, and services. The hardware sub-segment consists of switches, servers, storage, and others. The software sub-segment consists of application software, network security, and load balancing. The service sub-segment is categorized into training & support, consulting service, integration & implementation, and others. On the basis of deployment, the market is bifurcated as on-premises and on-cloud. Based on the organization size, the market is categorized into large enterprises and Small & Medium Enterprises (SMEs).
On the basis of end-user, the market is classified into BFSI, IT & telecom, manufacturing, healthcare, government, and others.
According to Market Research Future analysis, the Virtual Network Function market has been valued at approximately USD 25 billion growing with a 30% CAGR during the forecast period 2017-2023.
Key Players
Market research future identifies some of the key players of Virtual Network Function market are Alcatel-Lucent (France), Cisco Corporartion (U.S.), Ericsson (Sweden) , Huwaei (China) , Tech Mahindra (India), Ribbon Communications (U.S.), Telefonica (Spain), Trend Micro (Japan), Verizon Communications (U.S.), Fujitsu (Japan), HP Enterprise( U.S.), NEC corporation (Japan), F5 networks (U.S.), and Aricent Incorporation (France).
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SummaryA New Market Study, titled “Virtual Network Functions Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.Market SynopsisThe global market for virtual network functions is expected to grow to around USD 25 billion by 2023, at a 30% CAGR over the review period (2017-2023).Drivers and RestraintsThe major factors driving the demand for virtual network functions market include the rising need for advanced network management systems to handle the increasing complexity and complexities of networks.
SMEs are projected to experience a heavy use of virtualization solutions as they allow server & device consolidation and enhance disaster recovery.
Implementing the virtualization system would greatly improve the practical and technological feasibility of the 5 G network including improved mobility and decreased capital expenditure.On the flip side, service providers' lack of quality as per the normal policies and safety requirements regulated by the European Telecommunications Requirements Institute (ETSI) is expected to be a major challenge factor for the virtual network functions over the review period.SegmentationThe virtual network functions market is differentiated by component, organization size, deployment, and end-user.By component, the virtual network functions market is sub-segmented as software, hardware, and services.
The hardware sub-segment comprises switches, storage, servers, and others.
Europe is also projected to see substantial demand growth.It is expected that the United Kingdom, France and Germany will be leading countries due to the increase in service providers, which will focus mainly on virtual network platforms in the coming years.
Japan , India, and China are the leading countries on the Virtual Network Functions market, owing to the increased use of tablets , laptops, and smartphones, as well as the increased availability of IP content.The remaining segment of the world is also expected to witness significant growth over the review period.
Global Virtual Network Functions Market Research Report, By Component (Hardware, Software, And Services), By Organization Size (Sme And Large Enterprises), By Deployment, And By End-Users - Forecast Till 2027Market Overview:Prior to the existence of Virtual Network Functions (VNFs), the operational tasks were carried out by dedicated hardware.
VNFs transfer individual network functions from dedicated hardware devices into software that is executed on commodity hardware.
These executions are implemented by network service providers and businesses, which include Domain Name System (DNS), firewalls, caching or Network Address Translation (NAT).
VNFs could be interfaced together like elementary building blocks in a workflow, popularly known as service chaining.
By the implementation of VNFs, application provisioning process and service chaining process are feasible and convenient.However, increase in telecom service providers and surge in demand for cloud services are expected to be driving factors for the virtual network function market over the forecast period.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/5680Moreover, increased market development in virtual network functions is expected to add fuel to the growth of virtual network function market size.
For instance, on November 2016, Tech Mahindra, an India-based leading consulting, business engineering, and integration company and an expert in digital transformation, networks, and operations for communications industry, unveiled their Virtual Network Function (VNF) Exchange, associated with numerous new age providers of Network Functions Virtualization (NFV) and Software Defined Networks (SDN) products.
