The global industrial automation market is expected to grow at USD 19 Billion by 2022, at 31% of CAGR between 2016 and 2022.
Network functions virtualization (NFV) is a core structural change in the way telecommunication infrastructure gets deployed. Network functions virtualization (NFV) describes standards for compute, storage, and networking resources which can be used for building virtualized network functions. It refers to the combination of hardware and software network features in a single virtual network. It also aims to address the problems by evolving standard IT virtualization technology to consolidate many network equipment types onto industry standard high volume servers, switches and storage.
The Network Function Virtualization Market is showing rapid growth in the near future. The study indicates that, the increased adoption of internet of things (IoT), growing popularity of digitization are the factors driving the network function virtualization market. Also, the increasing demand for data intensive applications and need of cloud based services is driving the network function virtualization market. The network function virtualization enables operators to reduce the needs to purchase customized hardware instead pay-as-you-grow model thus reducing the CapEx. The network function virtualization benefits by reducing OpEx, accelerating time to market by reducing the time to deploy. The study reveals that the major challenge for the network function virtualization market would be, network function virtualization environments are more dynamic than traditional ones, which might require scaling up with additional features to cope.
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The study of global Network Function Virtualization has been conducted over the segments of application, deployment, infrastructure, and end-user.
Network function virtualization market by Application segment has included next-generation signaling, switching elements, traffic analysis, and service assurance.
The network function virtualization market by the Deployment segment has included on-premise and cloud.
The network function virtualization market by infrastructure segment has included the virtualization layer and hardware resources.
The network function virtualization market by the end-user segment has included cloud service providers, virtualized resources, information technology, the communication service provider (CSP), and BFSI.
The prominent players in the Network function virtualization market are Accenture PLC (Ireland), Juniper Networks (U.S.), Alcatel-Lucent S.A. (France), Cisco Systems, Inc. (U.S.), Huawei technologies Co. Ltd. (China), Nokia Corporation (Finland), Intel Corporation (U.S.), NEC Inc. (Japan), Amdocs Inc. (U.S.), Connectem Inc. (U.S.), Ericsson (Sweden), 6WIND (France), Oracle Corporation(U.S.), Open Wave Mobility Inc. (U.S.), Allot communications (U.S.) among others
The geological analysis of Network function virtualization is being considered for the key regions such as Asia Pacific, North America, Europe, and the Rest of the World. The study observed that North America is leading the Network function virtualization market in support of an unusual move from concepts to commercial deployment of NFV by the telecom operators, which will compel the network function virtualization market growth in the future. The study shows that regions witnessing migration to 5G will also motivate the need for deploying network function virtualization (NFV). Also, the North America region is expected to retain its position over the forecast period, thus creating extensive opportunities for market players. The U.S. is a noteworthy contributor to the growth of network function virtualization owing to the superior technological infrastructure. Its suitability of innovative and niche systems such as network function virtualization, which is predictable to experience fast growth, propelling the market in North America.
In fact, the rising number of data centers in countries such as Mexico, Brazil, and GCC have surged the uptake of server virtualization solutions to run massive workloads and applications in the cloud. The mounting investments for the development of 5G infrastructures will also fuel market growth. Saudi Arabia, Mexico, Kuwait, and Dubai are exploring 5G technology and undertaking live trials of 5G on speed, latency, and equipment. Consequently, telecom operators in these regions are preparing to switch to virtualization technologies for flexible and scalable network management.
Study Objectives of Network function virtualization Market:
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Network Function Virtualization Market, By Application (Switching Elements, Traffic Analysis, Next Generation Signaling), Deployment (Cloud, On-premise), By Infrastructure (Hardware Resources, Virtualized Resources), By End-User (CSP, BFSI, Cloud Service Provider) – Forecast 2027
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