Network Function Virtualization Market Size, Share, and Analysis, By Component (Solutions, Orchestration & Automation, and Services), By Virtualized Network Functions (Compute, Storage, and Network), By Application (Virtual Appliance and Core Network), By End-User (Service Providers, Data Centers, and Enterprises), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
Network Function Virtualization Market Size, Share, and Analysis, By Component (Solutions, Orchestration & Automation, and Services), By Virtualized Network Functions (Compute, Storage, and Network), By Application (Virtual Appliance and Core Network), By End-User (Service Providers, Data Centers, and Enterprises), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Network Function Virtualization Market is anticipated t%li%exhibit a Compound Annual Growth Rate (CAGR) of 26% during the forecast span from 2024 t%li%2034. In 2023, the market size was assessed at USD 31 billion and is projected t%li%reach USD 396.5 billion by the completion of 2034.
Network function virtualization (NFV) refers t%li%an advanced technology that transforms traditional network services by virtualizing them and allowing them t%li%run on standard hardware. This approach eliminates the need for dedicated hardware appliances as NFV uses virtualization techniques t%li%combine and execute network operations as software on universal servers. This transition improves scalability and resource consumption within telecommunications and networking systems. Additionally, NFV separates network operations such as firewalls and routers from dedicated hardware, allowing for efficient deployment and maintenance. Moreover, the technology decouples virtualized instances with special hardware, enabling fast provisioning and economical operations. Hence, NFV is essential for the evolution of modern network infrastructures as it collaborates with Software-Defined Networking (SDN) t%li%optimize and simplify network operations.
MARKET HIGHLIGHTS
Network function virtualization market is expected t%li%reach USD 396.5 billion over the forecast period, owing t%li%the increasing demand for flexible and cost-efficient network solutions. NFV emerges as a scalable alternative t%li%traditional hardware-centric networks in the atmosphere of extensive digital transformation activities. Telecommunications sectors are prominently adopting NFV t%li%improve their network flexibility and reduce operational costs, which contributes t%li%market growth. Additionally, the rise of software-defined networking (SDN) further surges the deployment of network function virtualization across various sectors. Furthermore, North America and Europe are playing essential roles in pushing the market expansion, with an increasing number of enterprises adopting NFVs t%li%optimize their network infrastructure. Thus, this evolving ecosystem positions the NFV market for sustained growth, due t%li%the persistent demand for efficient and scalable network solutions across various sectors.
Network Function Virtualization Market Segments:
Growth Drivers
Increasing Demand for Network Optimization t%li%Create Development Prospects
Rising Adoption of Cloud Services will Provide New Opportunities for Growth
Restraint
Security Concerns Could Be Restricting Industry Growth
Key Players
PRODUCT OVERVIEW
Network Function Virtualization Market is anticipated t%li%exhibit a Compound Annual Growth Rate (CAGR) of 26% during the forecast span from 2024 t%li%2034. In 2023, the market size was assessed at USD 31 billion and is projected t%li%reach USD 396.5 billion by the completion of 2034.
Network function virtualization (NFV) refers t%li%an advanced technology that transforms traditional network services by virtualizing them and allowing them t%li%run on standard hardware. This approach eliminates the need for dedicated hardware appliances as NFV uses virtualization techniques t%li%combine and execute network operations as software on universal servers. This transition improves scalability and resource consumption within telecommunications and networking systems. Additionally, NFV separates network operations such as firewalls and routers from dedicated hardware, allowing for efficient deployment and maintenance. Moreover, the technology decouples virtualized instances with special hardware, enabling fast provisioning and economical operations. Hence, NFV is essential for the evolution of modern network infrastructures as it collaborates with Software-Defined Networking (SDN) t%li%optimize and simplify network operations.
MARKET HIGHLIGHTS
Network function virtualization market is expected t%li%reach USD 396.5 billion over the forecast period, owing t%li%the increasing demand for flexible and cost-efficient network solutions. NFV emerges as a scalable alternative t%li%traditional hardware-centric networks in the atmosphere of extensive digital transformation activities. Telecommunications sectors are prominently adopting NFV t%li%improve their network flexibility and reduce operational costs, which contributes t%li%market growth. Additionally, the rise of software-defined networking (SDN) further surges the deployment of network function virtualization across various sectors. Furthermore, North America and Europe are playing essential roles in pushing the market expansion, with an increasing number of enterprises adopting NFVs t%li%optimize their network infrastructure. Thus, this evolving ecosystem positions the NFV market for sustained growth, due t%li%the persistent demand for efficient and scalable network solutions across various sectors.
Network Function Virtualization Market Segments:
- By Component
- Solutions
- Orchestration & Automation
- Services
- By Virtualized Network Functions
- Compute
- Storage
- Network
- By Application
- Virtual Appliance
- Core Network
- By End-User
- Service Providers
- Data Centers
- Enterprises
Growth Drivers
Increasing Demand for Network Optimization t%li%Create Development Prospects
Rising Adoption of Cloud Services will Provide New Opportunities for Growth
Restraint
Security Concerns Could Be Restricting Industry Growth
Key Players
- Cisc%li%Systems, Inc.Hewlett Packard Enterprise (HPE)
- Nokia Corporation
- Ericsson AB
- VMware, Inc.
- Juniper Networks, Inc.
- Huawei Technologies Co., Ltd.
- NEC Corporation
- Intel Corporation
- Dell Technologies Inc.
- Red Hat, Inc.
- Oracle Corporation
- Amdocs Limited
- Brocade Communications Systems, Inc.
- Wind River Systems, Inc.
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Network Function Virtualization Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Network Function Virtualization Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.NETWORK FUNCTION VIRTUALIZATION MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porters Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.NETWORK FUNCTION VIRTUALIZATION MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Orchestration & Automation
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Services
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Virtualized Network Functions
11.3.2.1.Compute
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Storage
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Network
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Application
11.3.3.1.Virtual Appliance
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Core Network
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End-User
11.3.4.1.Services Providers
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Data Center
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Enterprises
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Component
12.3.2. By Virtualized Network Function
12.3.3. By Application
12.3.4. By End-User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2. By Virtualized Network Function
13.3.3. By Application
13.3.4. By End-User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Virtualized Network Function
14.3.3. By Application
14.3.4. By End-User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2. By Virtualized Network Function
15.3.3. By Application
15.3.4. By End-User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Component
16.3.2. By Virtualized Network Function
16.3.3. By Application
16.3.4. By End-User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Cisco Systems, Inc.
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Hewlett Packard Enterprise (HPE)
18.3. Nokia Corporation
18.4. VMware, Inc.
18.5. Juniper Networks, Inc.
18.6. Huawei Technologies Co., Ltd.
18.7. Ericsson AB
18.8. NEC Corporation
18.9. Intel Corporation
18.10. Dell Technologies Inc.
18.11.Red Hat, Inc.
18.12. Oracle Corporation
18.13. Amdocs Limited
18.14. Brocade Communications Systems, Inc.
18.15. Wind River Systems, Inc.
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Network Function Virtualization Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Network Function Virtualization Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.NETWORK FUNCTION VIRTUALIZATION MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porters Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.NETWORK FUNCTION VIRTUALIZATION MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Component
11.3.1.1. Orchestration & Automation
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Services
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Virtualized Network Functions
11.3.2.1.Compute
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Storage
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.2.3. Network
11.3.2.3.1.By Value (USD Million) 2024-2034F
11.3.2.3.2. Market Share (%) 2024-2034F
11.3.2.3.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Application
11.3.3.1.Virtual Appliance
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Core Network
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By End-User
11.3.4.1.Services Providers
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Data Center
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Enterprises
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Component
12.3.2. By Virtualized Network Function
12.3.3. By Application
12.3.4. By End-User
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Component
13.3.2. By Virtualized Network Function
13.3.3. By Application
13.3.4. By End-User
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Component
14.3.2. By Virtualized Network Function
14.3.3. By Application
14.3.4. By End-User
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Component
15.3.2. By Virtualized Network Function
15.3.3. By Application
15.3.4. By End-User
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA NETWORK FUNCTION VIRTUALIZATION MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Component
16.3.2. By Virtualized Network Function
16.3.3. By Application
16.3.4. By End-User
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Cisco Systems, Inc.
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Hewlett Packard Enterprise (HPE)
18.3. Nokia Corporation
18.4. VMware, Inc.
18.5. Juniper Networks, Inc.
18.6. Huawei Technologies Co., Ltd.
18.7. Ericsson AB
18.8. NEC Corporation
18.9. Intel Corporation
18.10. Dell Technologies Inc.
18.11.Red Hat, Inc.
18.12. Oracle Corporation
18.13. Amdocs Limited
18.14. Brocade Communications Systems, Inc.
18.15. Wind River Systems, Inc.
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
