The global network virtualization software market is growing at a significant CAGR during the forecast period (2024-2031). The network virtualization software is also known as a hypervisor that provides two or more operating systems to run on a single host server and offers efficient network connectivity. The software acknowledges the virtualization of components including hardware, network, OS, and storage. The increasing trends for software-defined storage or virtual storage area network (SAN) in various enterprises are one of the most significant applications of the network virtualization software which, in turn, is expected to surge the growth of this market.
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The rising integration of virtualized software in enterprise data centers, including cloud service providers (CSP) and internet service providers (ISP) is expected to drive the growth of the market. The growing demand for cloud-based services, security agility, cloud migration, and the increasing need for advanced network management with the rising deployment of IoT are some factors that supplement the market growth during the forecast period. The rising demand for network virtualization along with the increasing network complexities provides a lucrative growth opportunity for the global network virtualization software market during the forecast period.
Moreover, the key players present in the global network virtualization software market include VMware, Inc., Nokia Corp., Micro Focus International plc, HP, Inc., and others adopted various strategies that include product launches, mergers & acquisitions, among others to remain competitive in the market. For instance, in March 2020, Microsoft has declared the acquisition of Affirmed Networks that offers fully virtualized, cloud-native mobile network solutions. Microsoft initiated to integrate the technology of Affirmed Networks into Microsoft Azure to leverage the telecommunication industry install and manage 5G networks based on the cloud services rather than just hardware and software.
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Market Coverage
- Segment Covered-
o By Type
o By Application
- Competitive Landscape- VMware, Inc., Nokia Corp., Micro Focus International plc, HP, Inc., and 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 Network Virtualization Software Market Report Segmentation
By Type
- Datacenter
- Desktop
- Network
- App
By Application
- IT & Telecom
- BFSI
- Healthcare
- Retail & Consumer Goods
- Government
- Manufacturing
- Others
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