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Global Virtual Router Market Report
Global virtual router market size reached US$ 176.6 Million in 2021. By 2027, It will reach a value of US$ 614.6 Mn, growing at a CAGR of 22.30% (2022-2027).
SHERIDAN, WYOMING, UNITED STATES, September 20, 2022 /EINPresswire.com / -- The latest research study“Virtual Router Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global virtual router market reached a value of US$ 176.6 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 614.6 Million by 2027, exhibiting a CAGR of 22.30% during 2022-2027.
A virtual router refers to a scalable and flexible software-based routing framework that allows the host device to function over a local area network as a conventional hardware router. It is identified by a unique virtual router identifier (VRID) found in the last byte of the address. It helps develop new applications rapidly, lower hardware costs, and process packets in real time. As a result, the virtual router finds extensive applications in the telecommunications industry.
COVID-19 Impact on Market: (Positive Impact)
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Global Virtual Router Market Trends and Drivers:
The global virtual router market is primarily driven by the rising popularity of software-defined networking (SDN) and network functions virtualization (NFV). Moreover, the surging adoption of virtual routers by communication service providers (CSPs) has augmented product demand. Additionally, there has been widespread adoption of these routers as tools to perform virtual experiments and assist students in distance learning. In line with this, the rapid expansion of data centers is positively influencing market growth.
Besides this, the growing awareness about the numerous benefits of virtual routers, such as higher network speed, faster data acquisition, and safer storage networks, has accelerated the product adoption rate. Furthermore, the implementation of virtual router redundancy protocol (VRRP) to split traffic and enhance network security has catalyzed market growth. Other factors, including the increasing requirement for cloud-based services, improving 5G infrastructure, rising adoption of the internet of things (IoT), and rapid digitization, are also anticipated to drive the market further.
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Global Virtual Router Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
6WIND, Allied Telesis Inc., Arista Networks Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., International Business Machines Corporation, Juniper Networks Inc., Nokia Corporation, Palo Alto Networks Inc. and ZTE Corporation.
The report has segmented the market on the basis of region, component, type and end user.
Breakup by Component:
•Solution
•Service
Breakup by Type:
•Pre-defined
•Custom
Breakup by End User:
•Service Provider
•Enterprise
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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