Dublin, Dec. 27, 2022 (GLOBE NEWSWIRE) — The “Global Network Functions Virtualization Market Size, Share & Industry Trends Analysis Report By Component (Solutions and Services), By End User, By Enterprises Type, By Organization Size, By Application, By Regional Outlook and Forecast, 2022 – 2028” report has been added to ResearchAndMarkets.com’s offers.
The Global Network Functions Virtualization Market size is expected to reach $94.1 billion by 2028, rising at a market growth of 24.8% CAGR during the forecast period.
Network functions virtualization, or NFV, can be defined as a network architecture concept that leverages IT virtualization technologies in order to virtualize entire sections of network node functions into building blocks that can be connected to each other or chained together to produce and deliver communication services. NFV depends on conventional server virtualization strategies, like those employed in enterprise IT.
Instead of using specialized hardware appliances for every network function, a virtualized network function, or VNF, is deployed within one or even more virtual machines or containers that are each running different software and processes on top of high-volume commercial off-the-shelf (COTS) servers, switches, storage devices, and cloud computing infrastructure.
This prevents vendor lock-in. For example, to safeguard a network, a virtual session border controller can be used instead of actual network protection units, which are typically more expensive and complicated to buy and install.
Other NFV examples include virtualized firewalls, load balancers, WAN accelerators, and intrusion detection systems, to mention a few. By separating the network function software from the specialized hardware platform, a flexible network architecture is realized, allowing for rapid service rollouts, agile network administration, and a significant reduction in CAPEX and OPEX. With the help of NFV, communication services may be separated from specialized hardware such as routers and firewalls.
Because of this division, network operations can offer new services on demand and without buying new hardware. With network functions virtualization, network components can be deployed in a matter of hours as opposed to months as with conventional networking. Additionally, rather than using expensive proprietary hardware, the virtualized services can function on less expensive generic servers. Network function virtualization essentially takes the role of the features offered by separate hardware networking components.
COVID-19 Impact Analysis
The IT and telecommunications sector, among others, was severely impacted by countermeasures including blockades, social isolation, and quarantine to combat the infection, due to which, the utilization of network virtualization software functions was reduced in the sector.
For several months, various manufacturing facilities were shut down, which had a negative impact on the supply chain, the ability to import and export end devices, as well as the production, sales, and operations of the sector.
The network functions virtualization market and revenues were impacted by supply chain disruptions and delays in the introduction of 5G standards. Due to this, the market was negatively impacted by the emergence of the pandemic. Hence, the market is estimated to recover from the impact of the COVID-19 pandemic in the coming years.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The illustration below shows the percentage of revenue shared by some of the leading companies in the market.
The leading players of the market are adopting various strategies in order to cater to demands coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Market Growth Factors
Helps businesses in saving costs and boosting agility
Carriers must offer more bandwidth at a reduced price. However, high bandwidth requirements or on-demand services were not incorporated into traditional carrier networks. Additionally, it is costly, complicated, and ineffective to attempt to improve already-existing hardware-based networks.
As a result, carrier income is now growing more slowly than networking costs. Plus, this is not a long-term business strategy. By separating network software from hardware, network functions virtualization solutions are intended to assist carriers in moving away from proprietary network hardware, which considerably reduces costs and improves service agility.
Rising Number Of Initiatives And Efforts By Market Players
NFV’s benefits and concepts are straightforward, but putting it into practice becomes more difficult. This is due to the fact that NFV requires some level of engagement and collaboration between different network solution suppliers and network operators in order to fully benefit from it.
Industry associations can help in such situations. Industry Specification Group, or ISG, for NFV, is being formed by the top network operators all over the world at a very rapid speed. Even while there is a lot of interest in the efforts of such associations to define the NFV framework, it is just one of many aspects in this rapidly expanding sector of industry development.
Marketing Restraining Factors:
Security And Scalability Risks
What will happen to their job if their assets are unavailable is the biggest concern that many people have about virtualization. An organization is expected to find it difficult to compete in its business if it is unable to access its data for an extended length of time. Additionally, since availability is managed by outside providers, virtualization does not provide users control over their ability to maintain connectivity. Although virtualization makes it possible to expand a business or prospect quickly, users might not be able to do it as quickly as they consider. A virtualized network experiences lag as a result of growth since numerous entities share the same resources.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
126.96.36.199 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis – Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisitions and Mergers
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. Global Network Functions Virtualization Market by Component
4.1 Global Solutions Market by Region
4.2 Global Services Market by Region
Chapter 5. Global Network Functions Virtualization Market by End User
5.1 Global Service Providers Market by Region
5.2 Global Data Center Market by Region
5.3 Global Enterprise Market by Region
5.4 Global Network Virtualization Market by Enterprise Type
5.4.1 Global FFSI Market by Region
5.4.2 Global Manufacturing Market by Region
5.4.3 Global Government & Defense Market by Region
5.4.4 Global Healthcare Market by Region
5.4.5 Global Retail Market by Region
5.4.6 Global Education Market by Region
5.4.7 Global Other Enterprise Type Market by Region
Chapter 6. Global Network Functions Virtualization Market by Organization Size
6.1 Global Large Enterprise Market by Region
6.2 Global Small & Medium Enterprises Market by Region
Chapter 7. Global Network Functions Virtualization Market by Application
7.1 Global Virtual Appliances Market by Region
7.2 Global Core Network Market by Region
Chapter 8. Global Network Functions Virtualization Market by Region
Chapter 9. Company Profiles
9.1 Intel Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
188.8.131.52 Partnerships, Collaborations, and Agreements:
184.108.40.206 Acquisitions and Mergers:
9.1.6 SWOT Analysis
9.2 Oracle Corporation
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Research & Development Expenses
9.2.5 Recent strategies and developments:
220.127.116.11 Partnerships, Collaborations, and Agreements:
18.104.22.168 Acquisitions and Mergers:
9.2.6 SWOT Analysis
9.3 Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expenses
9.4 Ericsson AB
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
22.214.171.124 Partnerships, Collaborations, and Agreements:
9.5 Hewlett Packard Enterprise Company
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.5.4 Research & Development Expenses
9.5.5 Recent strategies and developments:
126.96.36.199 Product Launches and Product Expansions:
188.8.131.52 Acquisitions and Mergers:
9.5.6 SWOT Analysis
9.6 Juniper Networks, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Research & Development Expenses
9.7 NEC Corporation
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent strategies and developments:
184.108.40.206 Partnerships, Collaborations, and Agreements:
220.127.116.11 Acquisitions and Mergers:
9.8 Amdocs Limited
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Regional Analysis
9.8.4 Research & Development Expenses
9.9 F5 Networks, Inc.
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Regional Analysis
9.9.4 Research & Development Expenses
9.9.5 Recent strategies and developments:
18.104.22.168 Partnerships, Collaborations, and Agreements:
22.214.171.124 Acquisitions and Mergers:
9.10. Alcatel-Lucent Enterprise (China Huaxin Post and Telecom Technologies Co., Limited)
9.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/1c2dwv