Network Function Virtualization Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019-2029, Segmented By Component ; By Deployment Mode ; By Application ; By End Use ; By Region

Description

Global Network Function Virtualization Market Size Booming More Than 7X to Touch USD 176 Billion by 2029.

Global network function virtualization market is flourishing because of rising popularity of IoT and need for efficient network management, a growing demand for network virtualization to reduce capital and operational expenditures, and increasing adoption of cloud-based services and software-defined networking.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global network function virtualization market size at USD 22.82 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global network function virtualization market size to expand at a robust CAGR of 23.63% reaching a value of USD 175.95 billion by 2029. Major growth drivers for global network function virtualization market include a spurring demand for an affordable and efficient network management system as well as the growing utilization of telecommunications equipment and services in commercial and data center environments. Another key driver is the accelerating adoption of network automation and virtualization technologies, as well as the increasing prevalence of server virtualization, cloud services, and data center consolidation. The intensifying network complexity necessitates cloud-based services, IoT deployments, security agility, and cloud migration. It heightens demand for network virtualization and automation is also contributing to the expansion of the Network Function Virtualization (NFV) market. The necessity for advanced network management systems is also fueling the growth of this market. However, complexity in integrating and managing virtual network functions with legacy network infrastructure and security concerns related to virtualized networks are anticipated to restrain the growth of the global network function virtualization market during the period in analysis.

Global Network Function Virtualization Market - Overview:

Network Function Virtualization (NFV) market refers to the use of software to virtualize network functions that were traditionally performed by dedicated hardware appliances, such as routers, switches, firewalls, load balancers, and other networking equipment. The goal of NFV is to enable more flexible, agile, and cost-effective network architectures that can be rapidly deployed and scaled up or down to meet changing business requirements. NFV is a key technology for the development of next-generation networks, including 5G, and is used by service providers, enterprises, and cloud service providers to optimize their networks and services.

Impact of COVID-19 on Global Network Function Virtualization Market

The COVID-19 pandemic had a detrimental impact on the Network Function Virtualization (NFV) market. The pandemic began in early 2020 in China, which is one of the world's largest manufacturers and consumers of end devices, such as smartphones, computers, and tablets. Chinese manufacturing facilities were closed for several months, leading to constraints on the import and export of end devices to and from restricted regions of China, disrupting the supply chain and seriously impacting the industry's production, sales, and operations. In March 2020, the 3rd Generation Partnership Project (3GPP), a global association developing 5G technology, announced that the final decision on 5G specifications would be delayed by three months due to COVID-19. These delayed releases slowed the commercial development and deployment of NFV devices for 5G. As a result, the supply chain disruptions and delays in the release of 5G specifications affected the global network functions virtualization market and its revenues in 2020 and 2021. Despite the challenges, some companies restored the NFV industry's momentum, and governments across countries have been taking steps to alleviate the negative impacts of COVID-19. As a result, it is projected that the NFV industry will gradually return to its trajectory during the post pandemic era.

Global Network Function Virtualization Market - By Deployment Mode

By deployment mode, global network function virtualization market is bifurcated into Cloud and On-premises segments. The cloud segment held a higher market share in the global network function virtualization market. The cloud deployment mode allows for easy scalability and flexibility of network functions, making it an attractive option for organizations that require rapid changes in their network infrastructure. The cloud deployment mode enables cost savings as it eliminates the need for expensive hardware and reduces maintenance costs. Also, it allows for easy management of resources and improves the overall efficiency of network operations. Cloud deployment mode provides enhanced security features such as multi-tenancy and data encryption, which are crucial in protecting network infrastructure and sensitive data.

Competitive Landscape:

Major players operating in global network function virtualization market include: Cisco Systems Inc., Huawei Technologies Co. Ltd., Nokia Corporation, VMware, Inc., Red Hat, Inc., Juniper Networks, Inc., Intel Corporation, Hewlett Packard Enterprise Development LP, Ericsson AB, NEC Corporation, Wind River Systems, Inc., Fujitsu Limited, Oracle Corporation, Citrix Systems, Inc., Dell Technologies Inc., Amdocs Inc., and Brocade Communications Systems, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Network Function Virtualization Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Network Function Virtualization Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Product Code: BWC23374

1. Research Framework

1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation

2. Executive Summary

3. Global Network Function Virtualization Market Insights

3.1. Industry Value Chain Analysis
3.2. DROC Analysis
- 3.2.1. Growth Drivers
  - 3.2.1.1. Growing demand for network virtualization to reduce capital and operational expenditure
  - 3.2.1.2. Increasing adoption of cloud-based services and software-defined networking
  - 3.2.1.3. Growing popularity of the Internet of Things (IoT) and the need for efficient network management
- 3.2.2. Restraints
  - 3.2.2.1. Complexity in integrating and managing virtual network functions (VNFs) with legacy network infrastructure
  - 3.2.2.2. Security concerns related to virtualized networks
- 3.2.3. Opportunities
  - 3.2.3.1. Increasing focus on digital transformation initiatives
  - 3.2.3.2. Adoption of software-based network infrastructure by small and medium-sized enterprises (SMEs)
- 3.2.4. Challenges
  - 3.2.4.1. Limited availability of skilled professionals in the field of network virtualization
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry

4. Global Network Function Virtualization Market Overview

4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
4.2. Market Share and Forecast
- 4.2.1. By Component
  - 4.2.1.1. Software
  - 4.2.1.2. Hardware
  - 4.2.1.3. Services
- 4.2.2. By Deployment Mode
  - 4.2.2.1. Cloud
  - 4.2.2.2. On-premises
- 4.2.3. By Application
  - 4.2.3.1. Virtual Network Functions (VNFs)
  - 4.2.3.2. Virtual Customer Premises Equipment (vCPE)
  - 4.2.3.3. Virtual Evolved Packet Core (vEPC)
  - 4.2.3.4. Others
- 4.2.4. By End Use
  - 4.2.4.1. Telecommunications Service Providers
  - 4.2.4.2. Enterprises
  - 4.2.4.3. Others
- 4.2.5. By Region
  - 4.2.5.1. North America
  - 4.2.5.2. Europe
  - 4.2.5.3. Asia Pacific (APAC)
  - 4.2.5.4. Latin America (LATAM)
  - 4.2.5.5. Middle East and Africa (MEA)

5. North America Network Function Virtualization Market

5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
- 5.2.1. By Component
- 5.2.2. By Deployment Mode
- 5.2.3. By Application
- 5.2.4. By End Use
- 5.2.5. By Country
  - 5.2.5.1. United States
  - 5.2.5.1.1. By Component
  - 5.2.5.1.2. By Deployment Mode
  - 5.2.5.1.3. By Application
  - 5.2.5.1.4. By End Use
  - 5.2.5.2. Canada
  - 5.2.5.2.1. By Component
  - 5.2.5.2.2. By Deployment Mode
  - 5.2.5.2.3. By Application
  - 5.2.5.2.4. By End Use

6. Europe Network Function Virtualization Market

6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
- 6.2.1. By Component
- 6.2.2. By Deployment Mode
- 6.2.3. By Application
- 6.2.4. By End Use
- 6.2.5. By Country
  - 6.2.5.1. Germany
  - 6.2.5.1.1. By Component
  - 6.2.5.1.2. By Deployment Mode
  - 6.2.5.1.3. By Application
  - 6.2.5.1.4. By End Use
  - 6.2.5.2. United Kingdom
  - 6.2.5.2.1. By Component
  - 6.2.5.2.2. By Deployment Mode
  - 6.2.5.2.3. By Application
  - 6.2.5.2.4. By End Use
  - 6.2.5.3. Italy
  - 6.2.5.3.1. By Component
  - 6.2.5.3.2. By Deployment Mode
  - 6.2.5.3.3. By Application
  - 6.2.5.3.4. By End Use
  - 6.2.5.4. France
  - 6.2.5.4.1. By Component
  - 6.2.5.4.2. By Deployment Mode
  - 6.2.5.4.3. By Application
  - 6.2.5.4.4. By End Use
  - 6.2.5.5. Spain
  - 6.2.5.5.1. By Component
  - 6.2.5.5.2. By Deployment Mode
  - 6.2.5.5.3. By Application
  - 6.2.5.5.4. By End Use
  - 6.2.5.6. Belgium
  - 6.2.5.6.1. By Component
  - 6.2.5.6.2. By Deployment Mode
  - 6.2.5.6.3. By Application
  - 6.2.5.6.4. By End Use
  - 6.2.5.7. Russia
  - 6.2.5.7.1. By Component
  - 6.2.5.7.2. By Deployment Mode
  - 6.2.5.7.3. By Application
  - 6.2.5.7.4. By End Use
  - 6.2.5.8. The Netherlands
  - 6.2.5.8.1. By Component
  - 6.2.5.8.2. By Deployment Mode
  - 6.2.5.8.3. By Application
  - 6.2.5.8.4. By End Use
  - 6.2.5.9. Rest of Europe
  - 6.2.5.9.1. By Component
  - 6.2.5.9.2. By Deployment Mode
  - 6.2.5.9.3. By Application
  - 6.2.5.9.4. By End Use

7. Asia-Pacific Network Function Virtualization Market

7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
- 7.2.1. By Component
- 7.2.2. By Deployment Mode
- 7.2.3. By Application
- 7.2.4. By End Use
- 7.2.5. By Country
  - 7.2.5.1. China
  - 7.2.5.1.1. By Component
  - 7.2.5.1.2. By Deployment Mode
  - 7.2.5.1.3. By Application
  - 7.2.5.1.4. By End Use
  - 7.2.5.2. India
  - 7.2.5.2.1. By Component
  - 7.2.5.2.2. By Deployment Mode
  - 7.2.5.2.3. By Application
  - 7.2.5.2.4. By End Use
  - 7.2.5.3. Japan
  - 7.2.5.3.1. By Component
  - 7.2.5.3.2. By Deployment Mode
  - 7.2.5.3.3. By Application
  - 7.2.5.3.4. By End Use
  - 7.2.5.4. South Korea
  - 7.2.5.4.1. By Component
  - 7.2.5.4.2. By Deployment Mode
  - 7.2.5.4.3. By Application
  - 7.2.5.4.4. By End Use
  - 7.2.5.5. Australia & New Zealand
  - 7.2.5.5.1. By Component
  - 7.2.5.5.2. By Deployment Mode
  - 7.2.5.5.3. By Application
  - 7.2.5.5.4. By End Use
  - 7.2.5.6. Indonesia
  - 7.2.5.6.1. By Component
  - 7.2.5.6.2. By Deployment Mode
  - 7.2.5.6.3. By Application
  - 7.2.5.6.4. By End Use
  - 7.2.5.7. Malaysia
  - 7.2.5.7.1. By Component
  - 7.2.5.7.2. By Deployment Mode
  - 7.2.5.7.3. By Application
  - 7.2.5.7.4. By End Use
  - 7.2.5.8. Singapore
  - 7.2.5.8.1. By Component
  - 7.2.5.8.2. By Deployment Mode
  - 7.2.5.8.3. By Application
  - 7.2.5.8.4. By End Use
  - 7.2.5.9. Vietnam
  - 7.2.5.9.1. By Component
  - 7.2.5.9.2. By Deployment Mode
  - 7.2.5.9.3. By Application
  - 7.2.5.9.4. By End Use
  - 7.2.5.10. Rest of APAC
  - 7.2.5.10.1. By Component
  - 7.2.5.10.2. By Deployment Mode
  - 7.2.5.10.3. By Application
  - 7.2.5.10.4. By End Use

8. Latin America Network Function Virtualization Market

8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
- 8.2.1. By Component
- 8.2.2. By Deployment Mode
- 8.2.3. By Application
- 8.2.4. By End Use
- 8.2.5. By Country
  - 8.2.5.1. Brazil
  - 8.2.5.1.1. By Component
  - 8.2.5.1.2. By Deployment Mode
  - 8.2.5.1.3. By Application
  - 8.2.5.1.4. By End Use
  - 8.2.5.2. Mexico
  - 8.2.5.2.1. By Component
  - 8.2.5.2.2. By Deployment Mode
  - 8.2.5.2.3. By Application
  - 8.2.5.2.4. By End Use
  - 8.2.5.3. Argentina
  - 8.2.5.3.1. By Component
  - 8.2.5.3.2. By Deployment Mode
  - 8.2.5.3.3. By Application
  - 8.2.5.3.4. By End Use
  - 8.2.5.4. Peru
  - 8.2.5.4.1. By Component
  - 8.2.5.4.2. By Deployment Mode
  - 8.2.5.4.3. By Application
  - 8.2.5.4.4. By End Use
  - 8.2.5.5. Rest of LATAM
  - 8.2.5.5.1. By Component
  - 8.2.5.5.2. By Deployment Mode
  - 8.2.5.5.3. By Application
  - 8.2.5.5.4. By End Use

9. Middle East & Africa Network Function Virtualization Market

9.1. Market Size & Forecast, 2019-2029
- 9.1.1. By Value (USD Million)
9.2. Market Share & Forecast
- 9.2.1. By Component
- 9.2.2. By Deployment Mode
- 9.2.3. By Application
- 9.2.4. By End Use
- 9.2.5. By Country
  - 9.2.5.1. Saudi Arabia
  - 9.2.5.1.1. By Component
  - 9.2.5.1.2. By Deployment Mode
  - 9.2.5.1.3. By Application
  - 9.2.5.1.4. By End Use
  - 9.2.5.2. UAE
  - 9.2.5.2.1. By Component
  - 9.2.5.2.2. By Deployment Mode
  - 9.2.5.2.3. By Application
  - 9.2.5.2.4. By End Use
  - 9.2.5.3. Qatar
  - 9.2.5.3.1. By Component
  - 9.2.5.3.2. By Deployment Mode
  - 9.2.5.3.3. By Application
  - 9.2.5.3.4. By End Use
  - 9.2.5.4. Kuwait
  - 9.2.5.4.1. By Component
  - 9.2.5.4.2. By Deployment Mode
  - 9.2.5.4.3. By Application
  - 9.2.5.4.4. By End Use
  - 9.2.5.5. South Africa
  - 9.2.5.5.1. By Component
  - 9.2.5.5.2. By Deployment Mode
  - 9.2.5.5.3. By Application
  - 9.2.5.5.4. By End Use
  - 9.2.5.6. Nigeria
  - 9.2.5.6.1. By Component
  - 9.2.5.6.2. By Deployment Mode
  - 9.2.5.6.3. By Application
  - 9.2.5.6.4. By End Use
  - 9.2.5.7. Algeria
  - 9.2.5.7.1. By Component
  - 9.2.5.7.2. By Deployment Mode
  - 9.2.5.7.3. By Application
  - 9.2.5.7.4. By End Use
  - 9.2.5.8. Rest of MEA
  - 9.2.5.8.1. By Component
  - 9.2.5.8.2. By Deployment Mode
  - 9.2.5.8.3. By Application
  - 9.2.5.8.4. By End Use

10. Competitive Landscape

10.1. List of Key Players and Their Offerings
10.2. Global Network Function Virtualization Market Share Analysis, 2022
10.3. Competitive Benchmarking, By Operating Parameters
10.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)

11. Impact of Covid-19 on Global Network Function Virtualization Market

12. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)

12.1. Cisco Systems Inc.
12.2. Huawei Technologies Co. Ltd.
12.3. Nokia Corporation
12.4. VMware, Inc.
12.5. Red Hat, Inc.
12.6. Juniper Networks, Inc.
12.7. Intel Corporation
12.8. Hewlett Packard Enterprise Development LP
12.9. Ericsson AB
12.10. NEC Corporation
12.11. Wind River Systems, Inc.
12.12. Fujitsu Limited
12.13. Oracle Corporation
12.14. Citrix Systems, Inc.
12.15. Dell Technologies Inc.
12.16. Amdocs Inc.
12.17. Brocade Communications Systems, Inc.
12.18. Other Prominent Players

13. Key Strategic Recommendations

14. Research Methodology

14.1. Qualitative Research
- 14.1.1. Primary & Secondary Research
14.2. Quantitative Research
14.3. Market Breakdown & Data Triangulation
- 14.3.1. Secondary Research
- 14.3.2. Primary Research
14.4. Breakdown of Primary Research Respondents, By Region
14.5. Assumptions & Limitations