The global network functions virtualization market is projected to grow from US $ 12.9 billion in 2019 to US $ 36.3 billion by 2024, with a compound annual growth rate (CAGR) of 22% during the forecast period. Key factors driving the NFV market include the growing need for advanced network management systems to handle increasing network traffic and complexity.
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Network Function Virtualization Market Segments:
Based on Components:
• Solutions
• Orchestration and Automation
• Services
Based on virtualized Network Functions
• Compute
• Storage
• Network
Based on Applications:
• Virtual Appliance
• Core Network
Based on End Users:
• Service Providers
• Data Centers
• Enterprises
o Banking, Financial Services, and Insurance (BFSI)
o Healthcare
o Retail
o Manufacturing
o Government and Defense
o Education
o IT-enabled Services
o Others (Hospitality, transportation and logistics, media and entertainment, and utilities)
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(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)