Network Function Virtualization Market Size Worth $62.57 Billion By 2030 | CAGR: 22.1%

The global network function virtualization market size is expected to reach USD 62.57 billion by 2030 according to a new study by Polaris Market Research. The report “Network Function Virtualization Market Share, Size, Trends, Industry Analysis Report, By Component; By Virtualized Network Functions; By Enterprise Size; By Application; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increased usage of virtual machines with popular roles such as traffic control, firewalls, routers, load balancers, and others is likely to promote the NFV industry. Other reasons boosting the industry include growing adoption of 5G and edge computing technologies which drives the demand for cloud-based services, resulting in the growth of the NFV industry.

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China, one of the largest producers and consumers of portable electronic devices, has hindered the growth for NFV industry as COVID-19 pandemic emerged in the country which led to restrictions in the supply of these devices. However, as the inter-country trade resumed the demand for the devices increased driving the revenue growth in 2021. Additionally, roll out of 5G technology across the several countries globally, is also expected to complement growth over the coming years.

Network Function Virtualization Market Report Highlights

• Improving availability and consuming time of network operators enhances steep growth in orchestration and automation. Also, accessibility of several applications on one single network reduces operational cost, which accounts for the growth and high revenue share in the industry.
• The network segment accounts for the largest revenue share due to increasing investments in promoting the 5G spectrum, artificial intelligence, and IoTs, which increases the importance of the industry. Similarly, increasing demand for wireless services and broadband speed is driving the segment growth.
• The enterprise segment is anticipated to grow at a fastest rate due to increased adoption of solutions, including IT agility and quick application service for grid adaption introduced by NFV. Furthermore, an increase in grid complexes is also supposed to augment demand growth.
• North America accounted for the largest revenue share in 2021, as most NFV providers are based in the region. Eventually, Asia Pacific is anticipated to witness highest growth due to increasing demand for high demand of data storage and security in developing countries in the region.
• The global market is highly competitive owing to the existence of large industry players with global presence Cisco Systems, HPE, Dell EMC, Ribbon Communications, Huawei, Intel, Fujitsu, and Nokia.

Polaris Market Research has segmented the network function virtualization market report based on components, network function, application, end use, enterprise size and region:

Network Function Virtualization, Component Outlook (Revenue - USD Billion, 2018 - 2030)

• Solutions
• Orchestration and Automation
• Services

Network Function Virtualization, Network Function Outlook (Revenue - USD Billion, 2018 - 2030)

• Compute
• Storage
• Network

Network Function Virtualization, Application Outlook (Revenue - USD Billion, 2018 - 2030)

• Virtual appliance
• Core network

Network Function Virtualization, End Use Outlook (Revenue - USD Billion, 2018 - 2030)

• Service Providers
• Data Center
• Enterprises
  • BFSI
  • Manufacturing
  • Government and Defense
  • Healthcare
  • Retail
  • Education
  • Enables services
  • Others

Network Function Virtualization, Enterprise Outlook (Revenue - USD Billion, 2018 - 2030)

• SMEs
• Large Enterprises

Network Function Virtualization, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa