Software-defined Networking & Network Function Virtualization Market size to reach US$ 90 billion by 2027

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Software-defined Networking & Network Function Virtualization Market size is to reach US$ 90 billion by 2027, growing at a CAGR of 28.2% from 2022-2027.

HYDERABAD, TELANGANA, INDIA, September 9, 2022 /EINPresswire.com/ — Software-defined Networking & Network Function Virtualization Market size is forecast to reach US$ 90 billion by 2027, growing at a CAGR of 28.2% from 2022-2027. Network functions virtualization(NFV) is a virtual network which acts as the replacement of network appliance hardware with virtual machines. This is used in various sectors like power, BFSI, retail, manufacturing, healthcare and many others in network applications or functions like intrusion detection systems, load balancing or firewalls. The increasing technology in the IoT based devices and investments in the same has fueled the need of software-defined networking and network function virtualization industry to grow further. However, the cyberattacks and hacking activities pose a threat which are tried to be eliminated using intrustion detection devices and other network solutions.

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Key takeaways:

This IndustryARC report on the Software-defined Networking & Network Function Virtualization Market highlights the following areas –

1. The SDN and NFV market segmented by SDN type, hybrid SDN type is expected to acquire around 11% of the market share of global software-defined networking & network function virtualization market during the forecast period of 2022-2027.

2. The software-defined networking & network function virtualization market share of the application based segment accounts for 30% by the IT and Telecom sectorin 2021 and is expected to grow during the forecast period 2022-2027.

3. North America market held the largest share of 38% in 2021, owing towell established IT companies with high capital investment to develop this technology further.

4. The requirementof advanced network architecture to manage the big data generated by the organizations, increase in cloud computing and services, complex networks and traffic, and the management of geographically spread network assets due to globalization drives the market.

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Segmental Analysis:

1. The services segment held the largest Software-defined Networking & Network Function Virtualization market.

2. North America has the largest share of market size in global Software-defined Networking And Network Function Virtualization industry, in 2021, with a share of around 38% and is also analyzedto have significant growth during the forecast period 2022-2027.The widespread use of cloud computing, virtual networks, mobility services, and Bring Your Own Device (BYOD) cultureand so on have been attributed to the market growth.

3. IT and Telecom sector holds the largest share for over 30% of this market share as of 2021 and is expected to grow over the forecast period as a result of the increasing adoption of SDN solutions with rise in implementation of IoT applications in conjunction with software defined networking operations.

Competitive landscape:

The top 5 players in the Software-defined Networking & Network Function Virtualization industry are:

1. Cisco Systems, Inc

2. Hewlett Packard Enterprise Co

3. Intel Corporation

4. Pluribus Networks Inc

5. IBM

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Article originally published on www.einpresswire.com as Software-defined Networking & Network Function Virtualization Market size to reach US$ 90 billion by 2027

This news story originally appeared at Tech - Social Gov on21 September 2022