Virtual Network functions are leading the global market in the current scenario. The global virtual network functions Industry is taking up collaborations and aiming for investments to provide the required simplicity, security, overview, as well as, product efficiency on the demanded and required cloud platforms. The virtual network functions market research report portrays that the market is expected to grow at a high CAGR of approximately 30% by the end of the forecast period of 2023. The global market is expecting total revenue of USD 25 billion.
These solutions have been designed to help the customers to gain and develop visibility in the data centers in real-time. There is a growing demand for managed security services amongst various businesses and organizations that are surely helping in boosting the growth of the virtual network functions market by the end of the forecasted period of 2023.
With the fast spread and unexpected outbreak of the global pandemic - COVID 19, most of the enterprises around the globe were on hold and were facing other issues. To prevent the spread of the pandemic, many businesses and enterprises out there have shifted to the work-from-home scenario. With the use of virtualization applications, it is easier to manage productivity and work smoother in a virtual environment. During the pandemic phase, data breaches have emerged as a major havoc concern. There is a prevalent need for the implementation of various ways to manage the security services for the different functioning organizations. During this time of bouncing back, as the restrictions are being removed, there is a need for the virtual network functions share to take steps for upholding standards along with configurations of the operating systems that are low in cost. Also, the rise in funding and investment is projected to act as a boost to the global Virtual Network Functions Market.
The virtual network functions market size is all set to grow by the end of 2023 which is the end of the ongoing forecast period. The Virtual Network Functions market dynamics are stated below:
Since the lockdown was imposed to control the spread of the novel coronavirus, the growth in various domestic and international regions. This is expected to go on with an increasing rate by the end of the forecast period in 2023. The technology of cloud computing is acting as a major driving force that is likely to be helping the virtual network functions grow in double folds. It is providing the much-needed virtualization infrastructure a boost through funding and investment that will go on and play a vital role in achieving the estimated growth by the end of the forecast period.
However, the global virtual network functions market is facing issues with the components belonging to the methods of virtual network functions size face. Many issues and concerns related to security are likely to hamper the growth of the virtual network functions market share. Also, there are many breaches regarding the security layers by prominent and experienced hackers. Also, the concept of cloud environment is exposed to manipulating the ways of safeguarding the operations. Hence, it is becoming more essential to maintain an aware and valuable security service to manage the operations of the data centers.
The development of virtualization security has circulated a huge demand for a virtually networked environment. The activities that are being rendered by prominent market players like HPE (US), prominent ones like Dell EMC (US), Juniper Networks (US), Affirmed Networks (US), followed by NETSCOUT (US), NEC (Japan), amongst others like Ribbon Communications (US), ZTE Corporation (China), are helping the market. The funding and investment for the research and development departments are likely to help the market. The enterprises are greatly demanding these solutions to limit issues.
The global virtual network functions market segregation and segmentation is done on the following basis:
Based on Components:
Based on virtualized Network Functions
Based on Applications:
Based on End Users:
Based on Enterprise Size
Based on Regions:
The virtual network functions market trends are on a rise, globally. Owing to the market share and area of operations, the market is functional in 5 major regions that are a part of the market segmentation. The Asia Pacific consisting of India, China, as well as Japan, along with other regions like North America that is home to countries like Mexico, Canada, as well as the US, are the dominant forces. The European countries are also projected to be emerging in the game of the functions market. This is a result of the populous demand amongst both the domestic and the international markets that are trending as server virtualization. The implementation of an excellent degree of technology is likely to help the virtual network functions market excellently. The main result of this is an expected rise in the CAGR by the end of the forecast period of 2023.
The global virtual network functions market have some dominant players letting out their impeccable services. Some of the established names of the market are stated underneath:
The global network functions market has a very high degree of market competition. Mergers, acquisitions, investment and opportunity seeking, and much more is likely to be done by the established biggies. The prominent market players have a better hand at catering to the demand of access management, thus boosting the supply chain system.
|Market Size||USD 25 Billion (2023)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, By Organization Size|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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).|
|Key Market Opportunities||The United Kingdom, France, and Germany are expected to be leading countries due to the increase in service providers, who will mainly emphasize on virtual network platforms over the next few years.|
|Key Market Drivers||The growing adoption of SDN can bolster the global market of virtual network functions.|
Frequently Asked Questions (FAQ) :
The virtual network functions market can thrive at 30% CAGR by 2023.
The virtual network functions market can value at USD 25 Bn by 2023.
NEC corporation (Japan), HP Enterprise(U.S.), Aricent Incorporation (France), and F5 networks (U.S.) are some major players in the virtual network functions market.
The growing adoption of SDN can bolster the global market of virtual network functions.
The North America virtual network functions market is expected to experience a surge in the coming years.