United States, Rockville MD, May08, 2022(GLOBE NEWSWIRE) -- The network function virtualization (NFV) market is estimated to reach US$ 7.8 Billion by 2032 form US$ 4.1 Billion in 2022, growing at a 6.6% CAGR during the forecast period. The demand for Network Function Virtualization is expected to rise over the forecast period and the market was valued US$ 3.9 Billion in 2021.
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The growing requirement for improved network management systems to handle increasing network traffic and complexities is one of the growth propellers driving the growth of the network function virtualization (NFV) market.
The increasing number of network complexities and the ever-increasing demand for cloud-based services, deployment of IoT, security agility, cloud migration; increasing demand for network virtualization and automation and the need for advanced network management systems are some of the key factors driving the network function virtualization (NFV) market’s growth.
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The concerns such as rising network security risks in network function virtualization and deteriorating economic conditions the COVID-19 epidemic have posed significant barriers to the network function virtualization (NFV) market's growth.
The U.S. is expected to account for the lion's share of the network function virtualization (NFV) market. Network function virtualization (NFV) market has a significant growth potential. The early and rapid adoption of network function virtualization (NFV) such as cloud computing, Software defined everything (SDx), and IoT has assisted the network function virtualization (NFV) market in the U.S.
What are the Major Challenges Experienced by the Network Function Virtualization (NFV) Market Players?
It has been observed that there are several delays in the adoption of this technology by several potential customers that hampers the [RS1] adoption of network function virtualization services at several instances. Also, the lack of awareness among the general population about the immense opportunities created by the deployment of VNF and NFV systems has restrained the market from realizing its full potential.
Inadequate infrastructure and unavailability of skilled manpower to handle the NFV hardware and software operations is a prime factor for the limited expansion of the regional markets. In addition to this, stringent regulations by government authorities to control network radiations is anticipated to pose some serious restraints for the development of software defined networking and network function virtualization market.
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Key Segments Covered in the Network Function Virtualization Industry Survey
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Competitive Landscape
The research offers a competitive landscape based on a detailed examination of the important strategic initiatives implemented by the network function virtualization (NFV) industry’s top market participants in network function virtualization (NFV) over the previous four years.
The key players profiled in the network function virtualization (NFV) market are Cisco Systems Inc. (US), Juniper Networks, Inc. (US), Affirmed Networks (US), Ribbon Communication, Inc. (US), Fujitsu, Ltd. (Japan), Huawei Technologies Co., Ltd (China), VMware, Inc. (US), Nokia Corporation (Finland), Ericsson AB (US), Ciena Corporation (US), Hewlett Packard Enterprises (US), ZTE Corporation ( (U.S.).
Key players in the Network Function Virtualization Market
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Key Takeaways from Network Function Virtualization Market Study
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