Network Function Virtualization Global Market Report 2022: Ukraine-Russia War Impact

New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Network Function Virtualization Global Market Report 2022: Ukraine-Russia War Impact' -
, Affirmed Networks, NetScout Systems Inc., NEC Corporation, Ribbon Communications US LLC, ZTE Corporation, Fujitsu Limited, Ciena Corporation, Amdocs, Mavenir, and Radisys.
The global network function virtualization market is expected to grow from $ 15.28 billion in 2021 to $ 19.00 billion in 2022 at a compound annual growth rate (CAGR) of 24.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The network function virtualization market is expected to reach $ 42.59 billion in 2026 at a CAGR of 22.4%.
The network function virtualization (NFV) market consists of sales of network function virtualization products and services by entities (organizations, sole traders, and partnerships) that are used to improve network responsiveness, flexibility, and scalability.The network function virtualization model helps network services to be installed and controlled by software running on standardized compute nodes that were traditionally running on proprietary hardware.
It incorporates virtualization and cloud technologies to drive new network service development with elastic scale and automation. Network function virtualization is a method for network operators to accelerate service deployment by decoupling functions such as a firewall or encryption from dedicated hardware and moving them to virtual servers.
The main types of components in network function virtualization are solutions, orchestration and automation, and services.Solutions refer to a unique system that combines people, processes, information, and technologies to support a set of business or technical capabilities that solve one or more business problems.
Solution providers are hired by various industries to solve business problems.The infrastructure utilized consists of hardware resources and virtualized resources.
The different applications include virtual appliances and core networks and are employed by several end users such as service providers, data centres, and enterprises.
North America was the largest region in the network function virtualization market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the network function virtualization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing demand for cloud-based services is significantly contributing to the growth of the network function virtualization market going forward.Cloud refers to servers that are provided over the Internet and the software and databases that run on those servers.
Network operators can get new network services dynamically using cloud solutions rather than installing new hardware.For instance, according to the 2019 State of the Cloud Survey by Flexera, a US-based software company, out of 786 technical professionals surveyed, 94% use cloud solutions, and 69% of them are using hybrid cloud solutions.
Therefore, the increase in demand for cloud-based services is driving the growth of the network function virtualization market.
Technological advancements have emerged as a key trend gaining popularity in the network function virtualization market.Major companies operating in the NFV sector are focused on developing the latest technologies to sustain their position in the market.
For instance, in February 2022, Mobileum, a US-based telecom analytics company, and VoerEir, a Sweden-based cloud technology company, partnered to create a powerful test platform for network function virtualization infrastructure. The combination of Mobileum's SITE active test solution and VoerEir's Touchstone test suite provides a vertically integrated solution that allows communication service providers to fully automate testing of services from the lab to the live network, as well as virtual and cloud-native network functions.
In June 2020, Microsoft Corporation, a US-based technology company, acquired Metaswitch Networks for an undisclosed amount.This acquisition will support Microsoft's virtualized networks along with data, voice, and communications solutions for service providers.
Metaswitch is a UK-based software company that develops telecommunications software.
The countries covered in the network function virtualization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The network function virtualization market research report is one of a series of new reports that provides network function virtualization market statistics, including network function virtualization industry global market size, regional shares, competitors with a network function virtualization market share, detailed network function virtualization market segments, market trends and opportunities, and any further data you may need to thrive in the network function virtualization industry. This network function virtualization market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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