How Robust is the Growth of the Network Function Virtualization Market?
The network function virtualization market size has skyrocketed in recent times, growing from $26.31 billion in 2024 to an estimated $31.41 billion in 2025, marking a compound annual growth rate (CAGR) of 19.4%. Factors attributing to the impressive growth during the historic period include the necessity for cost reduction in network infrastructure, advances in virtualization technologies, growing data traffic and network complexity, and a noted shift to software-defined networking (SDN).
Looking at the forecast period, the market size is expected to see a dramatic increase, predicted to reach $70.33 billion by 2029 with a CAGR of 22.3%. This predicted surging growth can be attributed to focus on edge computing, increased demand for network automation and a strong emphasis on network security in virtualized environments, among other factors. Major trends in this period include containerization in NFY deployments and network slicing for customized services.
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What is Driving the Network Function Virtualization Market?
One of the major contributors to the growth of the network function virtualization market is the increasing demand for cloud-based services. These services allow network operators to dynamically avail new network services without the need to install new hardware. Increased cloud spending among small to midsized businesses (SMBs) as evidenced by the 2022 State of the Cloud Report by Flexera, is a testament to this trend.
What Are the Key Segments in the Network Function Virtualization Market?
The market researched in this report is segmented by:
1) Component: Solutions, Orchestration And Automation, Services
2) Infrastructure: Hardware Resources, Virtualized Resources
3) Application: Virtual Appliance, Core Network
4) End User: Service Providers, Data Centers, Enterprises
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Who are the Major Players in the Network Function Virtualization Market?
Key players operating in the network function virtualization market include Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Nokia Corporation, among others.
What Emerging Trends Are Observed in the Network Function Virtualization Market?
Technological advancement is a key trend in the network function virtualization market. Major companies are adopting advanced technologies to sustain their position in the market. An example is the recent partnership between Mobileum and VoerEir to create a powerful test platform for network function virtualization infrastructure.
Which Region records the Fastest Growth in the Network Function Virtualization Market?
In 2024, North America was the largest region in the network function virtualization market. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period.
What Does The Network Function Virtualization Market Report 2025 Offer?
Network Function Virtualization (NFV) is a transformative approach that allows network services to run as software on standard servers. This creates greater flexibility and efficiency in managing network functions, as service providers can deploy and scale applications more rapidly. The Network Function Virtualization Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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