Network Function Virtualization (NFV) refers to the integration of hardware and software network features on a particular virtual network. Network function virtualization (NFV) was introduced by the service operators with an objective to accelerate the deployment of services, operation, and maintenance of the network. NFV introduced significant changes in the network’s activities and implementation. NFV solutions are adopted by several telecom and cloud service providers across the globe. These NFV solutions optimize the network operations and offer improved scalability and robustness. There is a rise in demand for data center virtualization and server consolidation among organizations. The improvement in capital and operational expenditure through the virtualization of network functions is one of the primary growth factors of the NFV Market.
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Various enterprises are significantly reducing their investment in obtaining hardware and networking modules by virtualizing their essential network functions on dedicated hardware. Due to the lower hardware infrastructure costs, new service models can be adequately tested and commercialized in the market at a relatively lesser time. Network function virtualization (NFV) also enables reduced energy consumption by leveraging the power management capabilities in modern servers and storage devices. These capabilities are majorly contributing to the rapid adoption of this technology across different industry verticals such as IT & Telecom, manufacturing, retail, BFSI, and the government sector.
Telecom service providers are deploying NFV solutions rapidly in their networks to benefit from the business advantages of improved programmability, faster service enablement, and lower hardware infrastructure cost offered by the technology. NFV allows enterprises to react to the changing market conditions quickly. To achieve a faster time to market and service alertness, the operators use NFV in combination with advanced technologies such as IoT, Wi-Fi calling, and VoLTE.
Global NFV Market: Dynamics
The factors driving the growth of the NFV market are reduction in the network’s operational expenditure (OpEx) and capital expenditure (CapEx), and reduced deployment time for new network elements.
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The factors restraining the growth of the NFV market are legacy infrastructures, lack of standardization, and security issues. Also, the barriers to network function virtualization (NFV) is lack of defined business cases which can be one of the critical factors that can hamper the growth of the NFV market.
The growing adoption of NFV solution in the telecom sector due to the rising interest among operators to develop specialized network solutions by collaborating with suppliers is one of the latest trends in the global NFV market.
Global NFV Market: Competition Landscape
Examples of some of the key players operating in the global NFV market are Huawei Technologies, Allot Communications, Arista, NEC Corporation, Cisco Systems, Ericsson, Metaswitch Networks, Nakina Systems, Pluribus Networks, Nokia Corporation, Amdocs, Netcracker, Juniper Networks, VMware, AT&T, Google Inc., Intel Corporation, Verizon Communication, Citrix, etc.
Global NFV Market: Regional Outlook
North America is expected to hold significant share in the global NFV market. The large-scale implementation of industrial IoT and the massive presence of telecom service providers market in the U.S are some of the key factors driving the demand for NFV solutions in the region. The demand for NFV in Europe is increasing and is expected to contribute to the market growth. A primary growth factor is the increasing need for modern networking technologies such as network function virtualization (NFV). Latin America and MEA are projected to contribute significant share in the global NFV market over the forecast period.
For instance, in November 2017, BATM Advanced Communications Limited, which is one of the leading provider of real-time technologies for networking solutions announced the partnership with various telecom organizations that offer joint solutions for network virtualization. Through this partnership, the BATM Advanced Communication Limited is leveraging the telecom industry shift from hardware to Network Function Virtualization (NFV) and Software-Defined Networking (SDN).
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