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Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Network Function Virtualization market. Market segmentation includes Component (Orchestration & Automation, Solutions, and Services); End-Use (Service Providers, Data Centers, and Enterprises).

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24 November 5:55 a.m., Silicon Valley, California - According to the new market research report, the global market for Network Function Virtualization is projected to grow at a CAGR of 20.7% to reach US$59.1 billion by 2027, driven by various advantages such as cost-saving, accelerated commercialization of network services, enhancement in networks' energy efficiency, minimal space requirements for installation and storage, cooling, and simplification of network services management, and acceleration in server speeds. The global Network Function Virtualization market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Orchestration & Automation, one of the components analyzed and sized in this study, is forecast to grow at over 20% and reach a market size of US$27.2 billion by the end of the analysis period. The United States is forecast to readjust to a 19.9% CAGR. Within Europe, the worst affected by the pandemic, Germany will reach a market size of US$3.1 billion growing at a CAGR of 19.8% over the next couple of years. In addition, over US$2 billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Service Providers end-use segment will reach a market size of US$1.5 billion by the close of the analysis period. Facing a global backlash over the coronavirus outbreak and spread, China the world's second largest economy faces economic and geopolitical challenges including economic distancing which can likely put China's monopoly of global supply chains in crisis. The Data Centers end-use segment in this country against this backdrop will grow at a CAGR of 24.8% over the next couple of years to create an addressable market opportunity worth US$1.3 billion by the year 2027.

Network function virtualization, or NFV, is a mix of network software and hardware dealing in virtual networks that represents a core structural transformation in the deployment processes of telecommunications infrastructure. By shifting the telecommunications industry's focus to software, the NFV technology reduces the requirement of hardware, including servers and switches, as well as of storage. Several factors are responsible for driving the projected growth within the market, including the various advantages that NFV technology offers, such as cost-saving, which enables businesses to reduce capital and maintenance; accelerated commercialization of network services; and acceleration in server speeds. Increasing adoption of virtualized software by enterprise data centers, including those of cloud service providers (CSP) and internet service providers (ISP) are spurring growth within the global NFV solutions market. Furthermore, the demand for data-intensive applications and the requirement of increased network capacity for satisfying consumer demands from the mobile industry is also projected to power the future growth within the market for NFV solutions. The emerging need for consolidation of applications and servers, as well as for assisting in disaster recovery, among the SMEs is also projected to be a major factor spurring future growth of the worldwide NFV market over the analysis period. The demand for NFV systems is also being fueled by the increasing deployment of 5G networks. Advancements in 5G network technology and enhanced mobile broadband speeds are also expected to contribute towards the growth within the worldwide market for NFV solutions throughout the analysis period. Incorporation of NFV in 5G networks would further improve the functionality and agility of 5G networks. Moreover, technological advancements, which are enabling the development of more efficient, low-cost products are increasing the demand for switches, routers, optical transport and mobile edges, an important factor that is also projected to fuel the market's growth during the analysis period.

Research Methodology
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. The views, opinions and findings presented are based on validated engagements from a total executive pool size of 6813. Among this pool, 1092 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 204 unique participations, a total of 92 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.

Key Competitors Covered in the Report -
Cisco Systems, Inc.
NEC Corporation
Huawei Technologies Co., Ltd.
Intel Corporation
Nokia Corporation
Accenture PLC
Juniper Networks, Inc.
AMDOCS
Allot Communications Ltd.
Nokia Networks

Segments Covered in the Report -
Component (Orchestration & Automation, Solutions, Services)
End-User (Service Providers, Data Centers, Enterprises)

Geographies Analyzed in the Report -
World
USA
Canada
Japan
China
Europe
France
Germany
Italy
UK
Spain
Russia
Rest of Europe
Asia-Pacific
Australia
India
South Korea
Rest of Asia-Pacific
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East
Iran
Israel
Saudi Arabia
UAE
Rest of Middle East
Africa.

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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (www.strategyr.com) is the world`s only influencer driven AI powered market research company. Serving more than 41,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for 33 years, offering the widest coverage of topics, geographic markets, competitive brands, and companies profiled.

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