The global Software Defined Networking (SDN) & Network Function Virtualization (NFV) market is expected to grow at a significant CAGR during the forecast period (2024-2031). The growing number of devices connecting to the network, as well as the growing number of networking applications and services, necessitated new approaches to network design, management, and operation, which is why Software Defined Networking (SDN) and Network Function Virtualization (NFV) are in high demand. To change service and network architecture, Software Defined Networking (SDN) and Network Function Virtualization (NFV) are utilised. SDN allows network devices to be controlled without having to update the software every time a new protocol is implemented. SDN controls the network by informing packets arriving from a source where they should go and sending them to a designated destination.
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Network design is being modified by SDN and NFV technologies, which are seeing applications from networking partners in IoT, networking, mobility, and other domains. Increased networking traffic from an increasing number of devices, complex and fluctuating network traffic issues, an increasing number of cloud services, and management of a large number of network equipment are some of the factors driving demand for SDN and NFV. SDN and NFV technologies enable the configuration of complicated network infrastructures while also decreasing capital expenditure on the network setup.
IoT, networking, mobility, and other stakeholders are paying attention to SDN and NFV. Increased cloud-enabled services, increased complexities of network traffic, global expanding operations, rising need for mobile applications, and other factors are pushing the adoption of SDN and NFV. The safety risks associated with data transfer, as well as a lack of skills and experience to efficiently manage traffic, are major factors influencing demand for SDN and NFV. In addition, owing to the established IT, telecom, and banking sectors, North America is likely to dominate the market for software-defined networking (SDN) and network function virtualization (NFV).
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Intel Corporation, Hewlett-Packard, Cisco Systems Inc., NEC Corporation, DELL Inc. among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global SDN & NFV Market by Segmentation
By Solution
- Implementation
- Service
By Application
- IT and telecommunication
- BFSI
- Defense
- Government
- Healthcare
- Energy & utility
- Others
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