The study, titled “Global Network Function Virtualization Market 2016-2020” forecasts the market to report an impressive 33% CAGR between 2016 and 2020.

Albany, NY -- (SBWire) -- 12/08/2016 --The rising adoption of cloud-connected devices is identified as the key growth driver by the report. Besides this, the study provides a comprehensive overview of the global network function virtualization (NFV) market, giving details pertaining to the opportunities and threats for the market.

According to the report, the increasing number of connected devices will result in the generation of a staggering volume of data. The growing demand for concepts such as connected home, cars, and smart cities has compelled manufacturers, utility and retail sectors, and automotive industry use IoT to enable increased data transfer. NFV's ability to connect and manage heterogeneous aspects of IoT securely, is the key factor driving its demand worldwide. Furthermore, it helps maintaining the network resources by managing traffic flows and analyzing the same throughout the network. Additionally, with the deployment of VNFs across NFV platforms such as DPI, mobile core, routing, traffic management, security, and gateway, a considerable opportunity for customizing networks services for IoT is provided, which can significantly contribute to the market's expansion.

By components, the market can be segmented into infrastructure and services and software. Among these, the software segment emerged dominant in 2015. The segment has significantly gained from the increasing deployment of virtual software across enterprise data centers such as internet service providers and cloud service providers.

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Due to the presence of a large number of players, the market currently represents a high level of fragmentation. In order to gain prominence, a majority of vendors in the global NFV market are looking to partner with other solutions providers to boost NFV deployment across the world. The chances of generating revenue is further increased due to the contribution of vendors to open communities such as OpenNFV.

To study the competition prevailing in the market, the report profiles some of the leading vendors operating therein. Companies such as Brocade Communication Systems, Ericsson, Hewlett Packard Enterprise (HPE), Nokia, Cisco, Juniper Networks, Huawei Technologies, and VMware are identified in the report as the leading vendors in the market. Besides these, the study also profiles enterprises such as Oracle, Fujitsu, Affirmed Networks, Amdocs, A10 Networks, WIND, Allot Communications, Palo Alto Networks, GENBAND, Intel, and others.

The report presents insights into the strategies adopted by these companies and the impact on the same on the overall market. The strengths and weaknesses of the profiled companies are evaluated using analytical tools. The results obtained from the survey also enabled the report provide detailed overview of opportunities and threats for the global network function virtualization market in the near future.

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