The Network Function Virtualization Market is anticipated to reach over USD 125 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the hardware segment dominated the global market, in terms of revenue. North America was the leading contributor to the global market revenue in 2017.
The growing demand for mobile broadband services, and increased
demand for mobility has boosted the adoption of network function
virtualization. The rising penetration of mobile devices, and increasing trend
of BYOD further support the network function virtualization growth of this
market. The rising adoption of virtualization, cloud, and big data analytics
has fueled the market growth over the years. Increasing investments by vendors
in technological advancements coupled with advancements in the 5G network
technology would accelerate the network function virtualization market growth
of the network function virtualization market during the forecast period.
Growing demand from emerging economies, and technological advancements are
expected to provide numerous growth opportunities in the coming years.
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North America generated the highest revenue in the market in 2017,
and is expected to lead the global market throughout the forecast period. The
increase in demand for mobility services, and increasing demand for data center
consolidation drive the network function virtualization market growth. The
growing trend of BYOD, IoT, and big data analytics further increase the demand
for Network Function Virtualization. The growing penetration of mobile devices,
and technological advancements further support network function virtualization
market growth in the region. The growing demand for cloud services, and reducing
telecom carrier costs further boost the market growth. Asia-Pacific is expected
to grow at the highest CAGR during the forecast period owing to growing demand
from the developing countries of the region.
The key players in the network function virtualization market
include Juniper Networks, Inc., Brocade Communications Systems, Inc., Cisco
Systems, Inc., Intel Corporation, Big Switch Networks, Inc., NEC Corporation,
Hewlett Packard Enterprise Co., AT&T Inc, Citrix Systems, Inc., and Oracle
Corporation. These companies launch new products and collaborate with other
market leaders to innovate and launch new products to meet the increasing needs
and requirements of consumers.
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