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Network Function Virtualization (NFV) Market by Component, Virtualized Network Function, Application, End-user and Region - Forecast to 2024

Dublin, Jan. 23, 2020 (GLOBE NEWSWIRE) -- The "Network Function Virtualization (NFV) Market by Component (Solutions, Orchestration and Automation, and Professional Services), Virtualized Network Function, Application (Virtual Appliance and Core Network), End User, and Region - Global Forecast to 2024" report has been added to's offering.

The global NFV market is expected to grow from USD 12,949 million in 2019 to USD 36,324 million by 2024, at a Compound Annual Growth Rate (CAGR) of 22.9% during the forecast period.

This market study covers the NFV market across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as, component, Virtualized Network Function (VNF), application, end-user, and regions. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Rising demand for network virtualization and automation to drive adoption of NFV infrastructure

The exponential increase in the size and complexity of network infrastructures in the last decade has created a need for solutions to simplify and efficiently manage the entire network. NFV solutions cater directly to these problems by providing more flexibility in terms of traffic management to operators to improve network efficiency. Hence, the rising demand for advanced network management systems is driving the global NFV market growth.

The virtual appliance segment to grow at a higher CAGR during the forecast period

Virtual appliance primarily includes various networking operations, such as traffic forwarding, traffic monitoring, security, caching, intrusion detection system, and domain name service. These operations are widely carried over Virtual Customer Premise equipment (VCPe) over the edge. This has considerably affected enterprises to streamline their network complexities. Thus, the segment is expected to record decent momentum in the coming years.

The service providers segment to lead the NFV market in 2019

Service providers such as telecom service providers and cloud service providers are actively leveraging NFV to optimize networks, improve service delivery times, increase Average Revenue Per User (ARPU), and reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX). NFV transforms networks into more open and programmable frameworks by implementing a decoupled centralized control layer, which optimizes network resources, resulting in reduced network congestions, enhanced network user capacity (bandwidth requirement), and the minimized cost associated with hardware requirement for network user expansions.

APAC to grow at the highest CAGR during the forecast period

APAC consists of major economies, such as China, India, Japan, Australia, and South Korea. These countries are gaining worldwide attention due to their rapid growth and advancements, such as the adoption of cloud, big data, NFV, and digital transformation technologies. The latest 4G and 5G technology intervention in the APAC region is a major reason for the rapid digital transformation in the region. This has led to developments in technologies, such as IoT, BYOD, and mobility services, opening numerous revenue streams and use cases for businesses. The 4G technology is at a growing stage in APAC, owing to the increasing subscriber base, favorable policies and regulations, and demand for data storage and security. All these factors act as drivers for the NFV market due to rapid digital transformation and wide scope of growth.

Major vendors providing NFV solutions and services include Cisco (US), Ericsson (US), Huawei (China), VMware(US), Nokia (Finland), HPE (US), Dell EMC (US), Juniper Networks (US), Affirmed Networks (US), NETSCOUT (US), NEC (Japan), Ribbon Communications (US), ZTE Corporation (China), Fujitsu (Japan), Ciena (US), ECI Telecom (Israel), Metaswitch (UK), Mavenir (US), Radisys (US), and Wind River (US). The study included an in-depth competitive analysis of these key players, along with their company profiles, recent developments, and key growth strategies.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Global Market
4.2 Network Function Virtualization Market, By Virtualized Network Function, 2019
4.3 North America: Market By Application and End User, 2019
4.4 Asia Pacific: Market By Application and End User, 2019

5 Market Overview and Industry Trends
5.1 Market Dynamics
5.1.1 Drivers Need for an Enhanced Network Management System to Handle the Growing Network Traffic and Complexity Increased Emergence of Cloud Services, Data Center Consolidation, and Server Virtualization Rise in Demand for Network Virtualization and Automation
5.1.2 Restraints Growing Number of Security Risks Across the NFV Infrastructure Difficulties in Troubleshooting Across the NFV Network
5.1.3 Opportunities Adoption of NFV for IoT Technology Increased Demand for Private Cloud Solutions and Services Development of Open-Source SDN and NFV
5.1.4 Challenges Complexities Introduced By Third-Party Integrations, Acquisitions, and Collaborations Reliability Concerns for NFV Balancing Network Infrastructure Between Traditional and NFV Technologies
5.2 Use Cases
5.2.1 SD-WAN
5.2.2 VCPE
5.2.3 NFV-Based Service Orchestration
5.2.4 Augmentation Service Offering Through NFV
5.2.5 Virtual Managed Services for Small and Medium Enterprises

6 Network Function Virtualization Market By Component
6.1 Introduction
6.2 Solutions
6.3 Orchestration and Automation
6.4 Professional Services

7 Network Function Virtualization Market By Virtualized Network Function
7.1 Introduction
7.2 Compute
7.3 Storage
7.4 Network

8 Network Function Virtualization Market By Application
8.1 Introduction
8.2 Virtual Appliance
8.3 Core Network

9 Network Function Virtualization Market, By End User
9.1 Introduction
9.2 Service Providers
9.2.1 Service Providers: Market Drivers
9.2.2 Network Service Providers
9.2.3 Telecom Operators
9.3 Data Centers
9.3.1 Data Centers: Market Drivers
9.4 Enterprises
9.4.1 Enterprises: Market Drivers
9.4.2 Banking, Financial Services, and Insurance
9.4.3 Manufacturing
9.4.4 Retail
9.4.5 Healthcare
9.4.6 Education
9.4.7 Government and Defense
9.4.8 Others

10 Network Function Virtualization Market By Enterprise Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises

11 Network Function Virtualization Market By Region
11.1 Introduction
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Latin America
11.6 Middle East and Africa

12 Competitive Landscape
12.1 Introduction
12.2 Competitive Leadership Mapping (Overall Market)
12.2.1 Visionary Leaders
12.2.2 Innovators
12.2.3 Dynamic Differentiators
12.2.4 Emerging Companies
12.3 Strength of Product Portfolio
12.4 Business Strategy Excellence
12.5 Market Ranking for the Network Function Virtualization Market, 2018

13 Company Profiles
13.1 Cisco
13.2 VMware
13.3 Huawei
13.4 Ericsson
13.5 Nokia
13.6 HPE
13.7 Dell EMC
13.8 Juniper Networks
13.9 NEC
13.10 Affirmed Networks
13.11 Ribbon Communications
13.12 ZTE
13.14 Fujitsu
13.15 Ciena
13.16 ECI Telecom
13.17 Metaswitch Networks
13.18 Mavenir
13.19 Radisys
13.20 Wind River

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