Increasing demand for networking services is likely to expand the global network function virtualization market. Growing internet penetration, higher use of smart devices including smartphones, tablets, and other devices fueled the need for advanced networking services such as network function virtualization. Moreover, the mobile sector requires more data-intensive applications along with better network capacity to meet customer requirements. This factor will also fuel growth in the global network function virtualization market.
Adding further, technological advancements and usage of switches, routers, optical transport, and mobile edges, due to enhanced performance and lowering costs will further boost the global network function virtualization market in the coming years. There are also high chances that network function virtualization might replace traditional network functions such as DHCP, DNS, and IPAM on the account of improved performance of telecom service providers. Moreover, deployment of network function virtualization will bring a structural change in the way a telecommunication infrastructure. It will further bring a considerable change in the manner applications are delivered to the service providers.
Developed regions taking a superior role in expanding global network function virtualization market?
Superior technological infrastructure in the United States has given it an upper edge in the global network function virtualization market. Moreover, the large presence of leading cloud service providers, telecom service providers, and large-scale implementation of industrial IoT (IIoT) in different industrial sectors in this region led growth in the North America network function virtualization market.
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Significant investment in the cloud ecosystem and data center has also benefitted growth in this market. For instance, the telecom service providers in the U.S. are investing seriously in 5G technology implementation to offer exceptional network connectivity to their customers. In April 2018, T-Mobile, and Sprint merged. Together they are expected to invest nearly USD 40 billion in the coming years in order to over modernize its network infrastructure to accommodate 5G. Such initiatives in the network technology will encourage necessity developments in modernizing networking technologies such as NFV in the region.