Market Insights

Market Research Future has studied the global virtual network functions market over the forecast period from 2017 to 2023 and has found that the market is on track to witness exponential growth. Calculations regarding the growth of the market are expected to lead the global VNF market toward a CAGR of 30% during the forecast period and result in a market value of USD 25 Bn by the end of 2023. Virtual network functions are also known as network function virtualization (NFV). Both terms are used interchangeably and refer to a network architecture concept that which primarily enhance network services and enable large scale network communications services.

Virtual network function provides a backup for fully virtualized environments and also looks after specific network functions which are then implemented on virtual machines. VNF provides service providers with a number of desirable advantages. For example, virtual network function can help optimize scalability and agility in a network. VNF also has the capability to facilitate the use of network resources with increased efficiency. Virtual network functions are also highly useful in reducing power consumption as it requires a reduced amount. Moreover, VNF reduces hardware spaces which have a significant impact on the reduction of operational and capital expenses. With a growing demand among organizations for virtual IT technologies that can offer efficiency, scalability, and reduces costs, the demand for VNF is expected to expand with a truly rapid pace. VNF also allows service providers to build reliable and scalable services. Virtual network function also has immediate applications in the virtualization of content delivery networks, mobile base station, and platform as a service to name a few.

However, there is a significant lack of specification by service providers regarding regulatory policies as well as the security standards being implemented and governed by the European Telecommunications Standards Institute is expected to pose a considerable challenge to the growth of the global VNF market.

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Market Segmentation

The global virtual network functions market has been segmented on the basis of component, organization size, deployment, end-user, and region. Components have been segmented into software, hardware, and services. The hardware segment includes switches, servers, storage, and others. The software segment has been further sub-segmented into network security, load balancing, and application software. The service segment has been further divided to include integration & implementation, training & support, consulting service, and others.

By organization size, the global VNF market has been segmented into large enterprises and small & medium enterprises. Deployment of virtual network function has been segmented into on-premise, and on-cloud. End-users in the global market have been segmented into IT & telecom, BFSI, manufacturing, healthcare, government, and others.

Regional Analysis

North America is at the forefront of the global market. The US and Canada are leading country-level markets which have advanced telecom services and a high affinity toward the adoption of advanced technology. Europe is another leading market in the global VNF market. The U.K, Germany, and France are leading country-level markets in the European market. Meanwhile, the Asia Pacific is anticipated to grow at the most rapid pace over the forecast period. Japan, China, and India lead the market and the surge in the use of personal electronics is expected to drive the regional market.

Key Players

Significant market players identified in the global virtual network function market include Verizon Communications (U.S.), HP Enterprise( U.S.), Trend Micro (Japan), NEC Corporation (Japan), Alcatel-Lucent (France), Ribbon Communications (U.S.), Aricent Incorporation (France), Ericsson (Sweden), F5 networks (U.S.), Fujitsu (Japan), Tech Mahindra (India), Telefonica (Spain), Huwaei (China), and Cisco Corporation (U.S.).

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