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Network Function Virtualization (NFV) Market Size
- Report ID: GMI2768
- Published Date: Jul 2018
- Report Format: PDF
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.
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 SMEs 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.
| 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: |
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| Pitfalls & Challenges: |
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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.
Frequently Asked Questions (FAQ) :
Network Function Virtualization Market Scope
