(Delaware U.S) How will the healthcare sector shape network function virtualization market over 2018-2024?
Increasing deployment of NFC technology due to the need of robust data management systems will fuel network function virtualization (NFV) market share over the ensuing years. Growing demand for atomization of orchestration and organization of computing resources, storage devices, and network are key driving factors in the development of NFV and Software Defined Networking (SDN) technologies. The requirement for data center virtualization and server consolidation will also contribute as the major factors augmenting NFV market forecast which predicts the industry share to exceed $70 billion by 2024.
How will healthcare sector influence network function virtualization industry trends?
healthcare sector is predicted to account for more than 15% of the network function virtualization market share by 2024. The growth can be attributed to the escalating penetration of virtualization technologies for managing massive healthcare IT networks. With a virtualized network, healthcare institutions gain the capability to advance network agility, decrease operational costs, and prioritize critical traffic.
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For example, for such institutions, it becomes very important to recognize and prioritize network traffic and assign high bandwidth to critical applications related to patient care. The adoption of network and server virtualization has been enabling hospitals to organize their application workloads in the hospital data centers. These are the factors which will help to accelerate NFV market size by 2025.
What will be the impact of telecom sector on NFV industry share in the coming years?
Huge investment of telecom service providers to commercialize 5G will also play a major role for enhancing NFV market trends. A few of the typical problems in complex carrier networks are a huge variety of proprietary nodes and hardware appliances and the demand of supplementary proprietary hardware for introduction of new services. NFV enables telecom carriers to utilize network resources without being concerned about their physical location. Carriers are capable of using a single platform for various users, tenants, and applications with enhanced network device. Moreover, by reducing the standard network operator cycle of improvement, NFV lessens product’s time to market.
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How will North America network function virtualization market size grow over the coming times?
North America played a key role in network function virtualization industry revenue growth in 2017. Network function virtualization market forecast report has predicted that North America will hold more than 35% of the NFV industry share over 2018-2024.
The growth has been expected to be favored by prevalent adoption of industrial IoT (IIoT) in various industry verticals, availability of a huge data center ecosystem in the region, and key presence of top global cloud service providers in the United States. The U.S. government has been working swiftly to lead the world in 5G, the ensuing generation of wireless connectivity. The Federal Communications Commission (FCC) has been accentuating on creating additional low, medium, and high-band spectrum accessible for 5G services. It also emphases on decreasing regulatory barriers to boost investments in 5G networks.
What are the favorable aspects to support the growth of Asia Pacific NFV market outlook by 2024?
Asia Pacific NFV market outlook is anticipated to record the fastest growth over 2018-2024 owing to the intensifying demand for cloud-based storage, networking, and computing solutions from the rapidly developing technology firms in the region.
With investments in NFV technology from telecom firms, including Huawei and ZTE, in China, the advancement in NFV services and solutions is estimated to grow rapidly over 2018-2024. For instance, China’s Internet Plus initiative has been introduced with an aim to update and transform traditional sectors to join modern economy. Telecom service providers in the country have been rapidly adopting NFV technology to benefit from its speed, cost-effectiveness, and flexibility.
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.6. Methodology and forecast parameters
1.2. Data Sources
126.96.36.199. Paid sources
188.8.131.52. Public sources
Chapter 2. Executive Summary
2.1. NFV industry 360º synopsis, 2013 – 2024
2.1.1. Region trends
2.1.2. Component trends
2.1.3. Hardware trends
2.1.4. Software trends
2.1.5. Service trends
2.1.6. Application trends