How much size did the global NFV market register in 2017?

The market size of NFV exceeded USD 5 billion in 2017. Read More

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Network Function Virtualization (NFV) Market Size

Report ID: GMI2768
Published Date: Jul 2018
Report Format: PDF

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Network Function Virtualization Market Size

NFV Market size exceeded USD 5 billion in 2017, growing at a CAGR of over 42% from 2018 to 2024.

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The NFV market is expected to witness a sharp growth as network virtualization technologies enable enterprises to eliminate the costs associated with the procurement and maintenance of hardware equipment. The technologies help to deliver network services in a more scalable way compared to the traditional networking approach. The enterprises are rapidly embracing network virtualization solutions as they promote faster server provisioning and quick deployment of network services. The SME are projected to witness a heavy usage of virtualization solutions as they enable consolidation of server & applications and improve disaster recovery. By deploying these solutions, they can also handle multiple workloads with maximum uptime and improved performance.

Network Function Virtualization Market Report Attributes
Report Attribute	Details
Base Year:	2017
Network Function Virtualization Market Size in 2017:	5 Billion (USD)
Forecast Period:	2018 to 2024
Forecast Period 2018 to 2024 CAGR:	42%
2024 Value Projection:	70 Billion (USD)
Historical Data for:	2013 to 2017
No. of Pages:	240
Tables, Charts & Figures:	296
Segments covered:	Component, Application and Region
Growth Drivers:	Significant CAPEX and OPEX savings for enterprises Optimized network scalability and agility offered by NFV Lower telecom carrier costs Increasing demand for mobility Increasing demand for data center consolidation and server virtualization Growing investment in 5G network technology
Pitfalls & Challenges:	Lack of in-house technical expertise Security concerns Integration and interoperability issues

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Rapid investments for the commercialization of 5G networks will also drive the demand for NFV solutions. The implementation of virtualization technology will help to enhance 5G network’s functional and architectural viability including increased agility and reduced capital expenditure.

Authors: Suraj Gujar, Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of NFV exceeded USD 5 billion in 2017.

The industry share of NFV is growing at a CAGR of over 42% to 2024.

Network function virtualization (NFV) technologies provide SMEs with faster deployment of scalable network services, allow server and applications to be consolidated and enable faster disaster recovery.

Implementing NFV technology can help to improve the architectural and functional viability of a 5G network, including lower capital expenditure and higher agility.

Latin America, Middle East and Africa (LAMEA) NFV industry will see rapid growth owing to an increasing number of data centers in Brazil, Mexico and GCC nations to run cloud-based applications.

Training & consulting services help enterprises in analyzing gaps, evaluating operational and infrastructure readiness and plan effective NFV-based deployment strategies.