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Global Network Function Virtualization Market to Reach $48.5 Billion by 2026
SAN FRANCISCO, March 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Network Function Virtualization - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 9; Released: February 2022
Executive Engagements: 6813
Companies: 78 - Players covered include 6WIND; Affirmed Networks Inc.; Allot Ltd.; Amdocs; Ciena Corporation; Cisco Systems Inc.; Dell EMC; ECI Telecom Ltd.; Ericsson; Fujitsu Limited; Hewlett Packard Enterprise Company; Huawei Technologies Co., Ltd.; Juniper Networks Inc.; Mavenir; Metaswitch Networks; Nanjing ZTE software Co. Ltd.; NEC Corporation; NETSCOUT Systems Inc.; Nokia Corporation; Radisys Corporation; Ribbon Communications Operating Company Inc.; VMware Inc. and Others.
Coverage: All major geographies and key segments
Segments: Component (Orchestration & Automation, Solutions, Services); End-User (Service Providers, Data Centers, Enterprises)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Network Function Virtualization Market to Reach $48.5 Billion by 2026
Network virtualization (NV) works by combining physical networks into a software-based virtual network. All network physical components, including routers and switches, are aggregated into a single resource pool, from which they can be assigned as required to any device or server in the network. Growh in the global is set to be driven by various advantages that NFV technology offers, increasing popularity of the Internet of Things (IoT), the increasing adoption of digitization, the increasing demand for cloud based services, the need to reduce telecom carrier costs, and the growing popularity of data intensive applications. Additionally, increasing adoption of virtualized software by enterprise data centers, including those of cloud service providers (CSP) and internet service providers (ISP), are also spurring growth. Furthermore, the demand for data-intensive applications and the requirement of increased network capacity for satisfying consumer demands from the mobile industry is also projected to power the future growth. Advancements in 5G network technology and enhanced mobile broadband speeds are also expected to contribute towards the growth. Incorporation of NFV in 5G networks would further improve the functionality and agility of 5G networks.
Amid the COVID-19 crisis, the global market for Network Function Virtualization estimated at US$23.5 Billion in the year 2022, is projected to reach a revised size of US$48.5 Billion by 2026, growing at a CAGR of 20.7% over the analysis period. Orchestration & Automation, one of the segments analyzed in the report, is projected to grow at a 20% CAGR to reach US$27.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solutions segment is readjusted to a revised 20.8% CAGR for the next 7-year period. This segment currently accounts for a 31.6% share of the global Network Function Virtualization market. The orchestration and automation segment encompasses software-defined network (SDN) drivers, NFV orchestrator, virtual infrastructure managers, and Wide Area Network (WAN) configuration. The segment leverages VNF, life cycle management of network services resources, scaling, and auto repair for automating networks, thereby promoting the development of automated network services. Driven by the usability and criticality of orchestration and automation, the demand for orchestration and automation services is booming, especially in situations where vendor lock is absent and the solutions are customized and deployed off-the-shelf.
The U.S. Market is Estimated at $6.6 Billion in 2022, While China is Forecast to Reach $4.5 Billion by 2026
The Network Function Virtualization market in the U.S. is estimated at US$6.6 Billion in the year 2022. The country currently accounts for a 28.41% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$4.5 Billion in the year 2026 trailing a CAGR of 23.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.9% and 19.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 19.8% CAGR while Rest of European market (as defined in the study) will reach US$5.6 Billion by the end of the analysis period. North America dominates market share driven by commercial deployment of NFV solutions by telecommunications services providers. The increase in commercialization of 5G technology is also spurring the growth within the North American market.
Services Segment to Reach $10.6 Billion by 2026
In the global Services segment, USA, Canada, Japan, China and Europe will drive the 21.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.3 Billion will reach a projected size of US$8.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.5 Billion by the year 2026, while Latin America will expand at a 23.1% CAGR through the analysis period. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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