The global network function virtualization (NFV) market was estimated to be worth US$ 3.9 billion in 2021 and is anticipated to increase to US$ 7.8 billion by 2032, according to a recent industry report by Future Market Insights (FMI). The report’s conclusions show that telecommunication applications will remain essential since they will generate the majority of market income.
Between 2022 and 2032, the market for telecom applications is projected to expand at a CAGR of 6.6%. The recent spike in the transition to 5G network services is one of the main elements causing the growth in revenue from telecommunication apps.
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US to Command the Larger Proportion of Network Function Virtualization Market throughout the Analysis Period
The US commands 35.9% of the market share and is expected to retain that position intact with an absolute opportunity growth of US$ 1.3 Bn to reach a valuation of US$ 2.8 Bn by 2032. By 2023, data network traffic in the U.S. would is projected to witness an extensive surge of 294.9% to reach the value of 98.6 Mn Exabytes per month.
Network Function Virtualization (NFV) Market: Competition Insights
Currently, Network Function Virtualization (NFV) manufacturers are largely aiming at adopting strategies such as mergers, acquisitions, and partnerships. They are working towards finding a balance between expanding their product portfolio and capitalizing on the growing market demand.
The key companies operating in the Network Function Virtualization (NFV) market include CommScope Holding Company Inc., Telefonaktiebolaget LM Ericsson, Comba Telecom Systems Holdings, Amphenol Corporation, Cambium Networks, Tongyu Communication Inc., Laird, Wireless Excellence Ltd., Rosenberger Group, Affirmed Networks, 6WIND, VMware Inc., A10 Networks Inc., and Allot Ltd.
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The key recent developments of Network Function Virtualization (NFV) manufacturers are as follows:
- In September 2021, the partnership between Comba Telecom Systems Holdings and Telecom Infra Project (TIP) was reinstated and deepened to aid Comba Telecom’s contribution to validating Open RAN radio product offerings, coupled with the simplification and facilitation of the service providers’ procurement processes.
- In November 2019, an expanded partnership was announced between Nokia Corporation and VMware Inc. for facilitating the easy and better efficient performance of large volume cloud computing operations. It is estimated that this development will benefit the network function virtualization (NFV) services sales for producing integrated solutions.
- In October 2019, Novel packet-optical switches for 5G Cloud RAN were launched by Nokia Corporation with the utilization of time-sensitive networking (TSN) designs.
- In October 2019, a collaboration was finalized between Telefonaktiebolaget LM Ericsson and Nvidia Corporation for aiding in its 5G radio access networks (RAN). This partnership has enabled both companies to shift their focus on the creation of technology enabling communication service operators in the establishment of virtualized 5G RANs as part of it.
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Key Segments Covered In Market Survey
The Network Function Virtualization (NFV) Market is segmented based on type, polarization, diameter, frequency range, application, and region.
By Type:
- Parabolic Antenna
- Flat Panel Antenna
- Yagi Antenna
By Polarization:
- Single-polarized Antenna
- Dual-polarized Antenna
By Diameter:
- 0.2mm to 0.9mm
- 1.0mm to 3.0mm
- 3.1mm to 4.6mm
By Frequency Range:
- 1.0 GHz to 0.9 GHz
- 10.0 GHz to 29.9 GHz
- 30.0 GHz to 86.0 GHz
By Application:
- Telecommunication
- Commercial/Industrial
- Military & Defense
- Satellite
- Others
By Region:
- North America
- The US
- Canada
- Asia Pacific
- China
- Japan
- South Korea
- India
- Europe
- Germany
- UK
- France
- Russia
- Italy
- The Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Nigeria
- Egypt
- Latin America
- Mexico
- Brazil
- Argentina
- Colombia
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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