Network functions virtualization (NFV) is a core structural change in the way telecommunication infrastructure gets deployed. Network functions virtualization (NFV) describes standards for compute, storage, and networking resources which can be used for building virtualized network functions. It refers to the combination of hardware and software network features in a single virtual network. It also aims to address the problems by evolving standard IT virtualization technology to consolidate many network equipment types onto industry standard high volume servers, switches and storage.
The Network Function Virtualization Market is showing rapid growth in the near future. The study indicates that, the increased adoption of internet of things (IoT), growing popularity of digitization are the factors driving the network function virtualization market. Also, the increasing demand for data intensive applications and need of cloud based services is driving the network function virtualization market. The network function virtualization enables operators to reduce the needs to purchase customized hardware instead pay-as-you-grow model thus reducing the CapEx. The network function virtualization benefits by reducing OpEx, accelerating time to market by reducing the time to deploy. The study reveals that the major challenge for the network function virtualization market would be, network function virtualization environments are more dynamic than traditional ones, which might require scaling up with additional features to cope.
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The global industrial automation market is expected to grow at USD ~19 Billion by 2022, at ~31% of CAGR between 2016 and 2022.
- Accenture PLC (Ireland)
- Juniper Networks (U.S.)
- Alcatel-Lucent S.A. (France)
- Cisco Systems, Inc. (U.S.)
- Huawei technologies Co. Ltd. (China)
- Nokia Corporation (Finland)
- Intel Corporation (U.S.)
- NEC Inc. (Japan)
- Amdocs Inc. (U.S.)
- Connectem Inc. (U.S.)
- Ericsson (Sweden)
- 6WIND (France)
- Oracle Corporation (U.S.)
- Open Wave Mobility Inc. (U.S.)
- Allot communications (U.S.)
Network function virtualization is market is segmented on the basis of application, deployment, infrastructure and end-user.
Network function virtualization market by Application:
- Switching Elements
- Traffic Analysis
- Service Assurance
- Next Generation Signaling
Network function virtualization market by Deployment:
- On premise
Network function virtualization market by Infrastructure:
- Hardware Resources
- Virtualization Layer
- Virtualized Resources
Network function virtualization market by End-user:
- Communication service provider (CSP)
- Information Technology
- Cloud service provider
The regional analysis of Network function virtualization is being studied for region such as Asia pacific, North America, Europe and Rest of the World. It has been observed that North America is dominating the Network function virtualization market owing to a significant move from proof of concepts to commercial deployment of NFV by the telecom operators, which will drive the network function virtualization market growth. The study indicates that regions witnessing migration to 5G will drive the need of deploying network function virtualization (NFV).