Network functions virtualization (NFV) is a mechanism that aims at the virtualization of different network appliances to run them as softwares instead of hardwares. The conventional hardware devices like – routers, firewalls, etc. have been replaced by softwares which are run on different Virtual Machines. Just like SD-WAN, NFV is about the shift from hardware-based solutions to software-based solutions.
For instance, if anyone had to use a firewall, the conventional method would be to use a separate hardware appliance for it. However, with NFV, the same functions can be performed by virtual firewall, which is easy to manage, cheap, as compared to a traditional device & can be deployed quickly.
NFV was introduced to the world in October 2012 & even though it has been in the market for less than almost 8 years, a lot of vendors are now offering NFV-based services. Some examples of these companies are AT&T, Cisco Systems, Dell, Citrix, Juniper and others.
The Global NFV Market, as per ReportLinker will grow at rate of 22.9% (CAGR) and estimate around USD 36.3 billion as opposed to USD 12.9 billion in 2019. Over the years, there has been a huge increase in the complexity of the network infrastructure due to proprietary hardware devices. NFV directly solves this problem. Hence the rising demand for network management is driving the global market of NFV.
ReportLinker has further predicted that APAC region will display the highest growth rate in upcoming years. Being constituted by major economies like China, India, Japan, etc and due to major advancement of 5G Technology in these countries, the NFV is bound to gain huge momentum in this region.
NFV saw a 66% growth deployment in the core mobile domain between 2018 – 2019 and contrary to what some people in the industry may claim, NFV is far from dead. The NFV Market is one such market that can be readily looked upon for bringing disruption in the way companies & enterprises operate. Network functions virtualization has brought in flexibility & agility in the way how Communication Service providers work & has opened a wide scope about how networks can be deployed and managed in the upcoming years.
