-- Asia Pacific network function virtualization market is projected to grow with the highest CAGR of around 50% during the forecast period. The increasing adoption of cloud-based computing and storage technology by SMEs in the region, expansion of data center ecosystem in the region by leading global cloud service providers, and large-scale investment in 5G testing and commercialization by telecom carriers in China are some of the major factors influencing the growth of the Asia Pacific NFV market.
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North America is expected to hold a majority share of the network function virtualization market in 2017 due to the availability of an extensive data center ecosystem in the region, widespread adoption of industrial IoT (IIoT) in different industry verticals, and a major presence of leading global cloud service providers in the U.S. The U.S. government is moving swiftly to lead the world in 5G, the next generation of wireless connectivity. The Federal Communications Commission (FCC) is emphasizing on making additional low, medium, and high-band spectrum available for 5G services. It also focuses on reducing regulatory barriers to encourage investments in 5G networks.
The manufacturing sector in the network function virtualization market is expected to witness the fastest growth while registering a CAGR of around 50% between 2018 and 2024 due to the large-scale implementation of IIoT technology leading to a rapid growth in the number of connected components in the industrial IT environment. In the manufacturing sector, companies are leveraging the latest data center technologies and the best design practices for enabling a better control over supply chains, enhancing productivity through automation and closely managing the manufacturing processes through the use of data processing solutions. Data center functions are being increasingly utilized to consolidate operations and to integrate different manufacturing processes.
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The hardware segment in 2017 held a majority share of 48% in the global network function virtualization market due to large-scale adoption of NFV servers for virtualizing diverse network functions such as firewalls, Network Address Translation (NAT), routing, and Internet Protocol Security (IPSec). As the industry evolves, the software segment is expected to lead the network function virtualization (NFV) market growth due to the extensive deployment of NFV-MANO platforms as well as VNF software applications meant for virtualizing a diverse set of network functions.
Data center operations are expected to play a critical role in gathering and managing machine related performance metrics to facilitate the real-time management of operational processes in manufacturing industries. With increasing diversity of connected devices and machine systems, modern networking functions, such as NFV and SDN, will enable a better management of networking functions in large-scale industrial networks in the manufacturing sector over the forecast period.
Browse key industry insights spread across 240 pages with 268 market data tables & 28 figures & charts from the report, “Network Function Virtualization (NFV) Market Size By Component (Hardware [NFV Servers, Storage, Switches], Software [NFV Management and Orchestration {NFV-MANO}, VNF Software], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Application (IT & Telecom, BFSI, Healthcare, Retail & Consumer Goods, Government, Manufacturing), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/network-function-virtualization-nfv-market
Table of Contents (ToC) of the report:
Chapter 6. NFV market, By Application
6.1. Key trends, by application
6.2. IT & Telecom
6.2.1. IT & Telecom market estimates and forecast, by region, 2013-2024
6.3. BFSI
6.3.1. BFSI market estimates and forecast, by region, 2013-2024
6.4. Healthcare
6.4.1. Healthcare market estimates and forecast, by region, 2013-2024
6.5. Retail & consumer goods
6.5.1. Retail & consumer goods market estimates and forecast, by region, 2013-2024
6.6. Government
6.6.1. Government market estimates and forecast, by region, 2013-2024
6.7. Manufacturing
6.7.1. Manufacturing market estimates and forecast, by region, 2013-2024
6.8. Other applications
6.8.1. Other applications market estimates and forecast, by region, 2013-2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/network-function-virtualization-nfv-market
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