Awareness Amongst Consumers Plays Integral in Escalating Demand Within Network Function Virtualization (NFV) Market

The market for network function virtualization (NFV) is gaining popularity due to the high levels of computerization. NFW is essentially a paradigm shift from hardware to software within the telecom industry. The market is expected to keep gaining momentum as the need for better software crops across several industrial domains. Software segment has dominated the market over the past years and is expected to retain its dominance. The prominence of the US in terms of network function virtualization is expected to give a significant push to the market. A report titled ‘Network Function Virtualization Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024’ sheds light on the market dynamics.

The deployment of network function virtualization across the commercial sector has been a visibly strong market driver. The gradual emergence of the 5G market is also a bright prospect for the market. Another vital feature surrounding the market is the awareness quotient of the consumers. As the knowledge about NFW rise amongst the masses and the business entities, the market is expected to witness a tremendous growth in demand. It is important to analyze the fettle of the network provider in order to gauge the progress of the market.

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Geographically, the global market for network function virtualization

(NFW) is segmented into the Middle East and Africa, Asia Pacific, North America, Latin America, and Europe. North America is slated to provide commendable growth opportunities for market players. The region dominated the market in 2015 and is expected to continue on its streak of supremacy. Other regions are also anticipated to ride along a plush growth path over the coming years.

The key market players include Huawei, Brocade Communication Systems, Nokia, Ericsson, Technologies, Cisco amongst others.