Network Virtualization Market size was estimated at USD 32.6 billion in 2022 and is poised to grow at a CAGR of 21.6% from 2023-2029. This report gives comprehensive outlook on network virtualization across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. This gives historical, current, and future market sizes (US$ Mn) on the basis of type, application and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, this report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global network virtualization products. Increasing adoption of network virtualization by organizations worldwide, rising awareness about NV, high acceptance of cloud computing, rapid growth in the number of connected components and rapid investments for the commercialization of 5G networks are some key factors influencing the market growth. However, factors such as few service providers for network virtualization and its nascent adoption stage are hindering the market growth.
Fastest Growing Market
Virtualization technology offers a unique opportunity for organizations to improve efficiency and scalability and reduce overall operational costs and complexity. It provides an efficient way to centrally manage network resources, simplifying provisioning and maintenance tasks. Virtual Networks attempt to better utilize networking infrastructure by reusing individual routers or links (i.e., either physical or logical networking resource) for multiple concurrent network instances, or to aggregate multiple such resources to obtain increased capabilities. The technology is adopted by organizations worldwide because it is easier to manage and helps in reducing the time required for an administrator to perform a task. It therefore helps in improving efficiency, productivity, and job satisfaction by the virtue of automation. Furthermore, network virtualization also helps in reducing complexity of any network.
The key segments covered in the network virtualization market are: by type, application, and geography
The network virtualization market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
The network virtualization market size was valued at USD 32.6 billion in 2022
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