Software-Defined Networking and Network Function Virtualization Market To Witness a Pronounce Growth During 2023

By | December 7, 2018

Software-Defined Networking and Network Function Virtualization Market by Component (Solution (Software (Controller, and Application Software), Physical Appliances), and Service), End-User, and Region – Global Forecast to 2022

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The global SDN and NFV market size is expected to grow from USD 3.68 Billion in 2017 to USD 54.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%. The major driving factors contributing to SDN and NFV growth include the increasing evolution and demand in mobility, the increased network complexity and varied traffic pattern, and the surge in demand for cloud service, data center consolidation, and server virtualization.

The increasing adoption of SDN and NFV technologies by telecom service providers has boosted the overall network capacity potential by delivering flexibility in bandwidth. SDN transforms the network to a more open and programmable framework by implementing a decoupled centralized control layer, which in turn, enables implementation of NFV that optimizes network resources. This in turn, reduces network congestions, enhances network user capacity (bandwidth requirement), and minimizes the cost associated with hardware requirement for network user expansions.

The APAC region is poised for strong growth in terms of SDN and NFV deployments over the network. The main reason behind this growth is the increasing number of data center deployments coming up in this region. Japan is said to be the biggest customer in this region, in terms of SDN and NFV revenues, but the maximum research about SDN and NFV technologies is being done in China and Korea. APAC is set to displace Europe from its second position in the SDN and NFV market in terms of revenue generation. Moreover, North America being one of the most technologically-advanced region, there are continuous advancements in technologies as well as business applications, and that is the driving growth for adoption of SDN and NFV in the region.

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The SDN and NFV market report includes the competitive landscape, which presents the positioning of 26 key SDN and NFV vendors, based on their product offerings and business strategies. Some of the major SDN and NFV vendors are Nokia Corporation (Finland), Cisco Systems, Inc. (US), Ericsson AB (Sweden), Huawei Technologies Co. Ltd. (China), Intel Corporation (US), International Business Machines Corporation (US), Hewlett Packard Enterprise Co. (US), Juniper Networks (US), NEC Corporation (Japan), Pica8 (US), Brocade Communications Systems, Inc. (US), Ciena Corporation (US), Pluribus Networks (US), and Big Switch Networks, Inc. (US).

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