Global Virtual Network Functions Market Research Report, By Component (Hardware, Software, And Services), By Organization Size (Sme And Large Enterprises), By Deployment, And By End-Users - Forecast Till 2023
Virtual Network Function (VNF) is generally known by another name in the industry as Network functions virtualization (NFV). They are often used interchangeably, as both of them concentrate primarily on enhancing network services, unlike Software-Defined Networking (SDN), which segregates the control and forwarding plane for a centralized view of the network. Virtual network function is developed to integrate and facilitate networking components, essential to give a backup for a full virtualized environment. Additionally, a VNF handles a specific network functions that are implemented on one or more virtual machines (VMs) mounted on the hardware networing components such as servers, storage, routers, switches,and others. Seperately, a single virtual network functions could be interfaced or combined collectively as building blocks to provide a large scale network communication services.
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Global Virtual Network Functions market is expected to reach approximately over USD 25 billion by 2023 growing at a 30% CAGR over the forecast period 2019-2023
Some of the key players of Virtual Network Functions market include Alcatel-Lucent (France), Cisco Corporartion (U.S.), Ericsson (Sweden) , Huwaei (China) , Tech Mahindra (India), Ribbon Communications (U.S.), Telefonica (Spain), Trend Micro (Japan), Verizon Communications (U.S.), Fujitsu (Japan), HP Enterprise( U.S.), NEC corporation (Japan), F5 networks (U.S.), and Aricent Incorporation (France).
The Virtual Network Functions Market is differentiated by component, organization size, deployment, and end-user.
By component, the virtual network functions market is sub-segmented as hardware, software, and services. The hardware sub-segment comprises switches, servers, storage, and others. The software sub-segment comprises application software, network security, and load balancing. Furthermore, the service sub-segment is categorized as training & support, consulting service, integration & implementation and others.
Geographically, the Virtual Network Functions is segmented into four different regions, namely North America, Asia Pacific, Europe, and Rest of the World.
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• Telecommunication Service Providers
• Mobile Network Operators
• IT Suppliers
• Cloud Service Providers
• Enterprise Data Center Professionals
• Networking and Telecommunication Companies
• Data Center Software Vendors
• Infrastructure Architects
• Government Councils
• Research Firms