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Network Function Virtualization (NFV) Market

Network Function Virtualization (NFV) Market Analysis by Type (Parabolic Antenna, Flat Panel Antenna, and Yagi Antenna), by Polarization (Single-polarized Antenna, and Dual-polarized Antenna), by Diameter, by Frequency Range, by Application & Region – Global Forecast 2022-2032

Analysis of Network Function Virtualization (NFV) Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Global Network Function Virtualization (NFV) Market Outlook

The network function virtualization (NFV) market is predicted to grow at a moderate CAGR of 6.6% during the forecast period. The network function virtualization market share is estimated to reach a value of nearly US$ 7.8 Billion by 2032, from US$ 3.9 Billion in 2021.



Network Function Virtualization (NFV) Market Size (2021)

US$ 3.9 Billion

Network Function Virtualization (NFV) Market Value (2022)

US$ 4.1 Billion

Network Function Virtualization (NFV) Market Value (2032)

US$ 7.8 Billion

Network Function Virtualization (NFV) Market Growth Rate (2022-2032)


Market Share of Top 5 Countries


Network Function Virtualization (NFV) Market Key Players

  • Commscope
  • Erricsson
  • Comba Telecom Systems Holdings
  • Amphenol
  • Cambium Networks
  • Tongyu Communication
  • Laird
  • Wireless Excellence
  • Powerwave Technologies
  • Rosenberger

“Growing adoption of virtualized software among several enterprise data centres, including ISP or internet service providers and Cloud service providers is the major driving factor for the growth of the network function virtualization market.”

In comparison to conventional networking, the 5G NFV architecture technologies aid in the delivery of network services in a more scalable manner. In addition to this, as network virtualization technologies enable organizations to minimize the expenditure incurred during installation and maintenance of hardware equipment, the global NFV market is predicted to grow rapidly.

Enterprises around the world are quickly adopting NFV appliances and solutions as they provide faster server provisioning and network service deployment. Virtualization technologies are expected to be widely used even by SMEs propelling the global network function virtualization (NFV) market further during the forecast years.

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What is the Covid-19 Impact on Global Network Function Virtualization (NFV) Market?

Covid-19 outbreak in March 2020 has had a severe impact on all aspects of the global economy. Globalization network function virtualization (NFV) market was no exception that dropped down by 4% in the aftermath of the pandemic. The global market for virtual network functions got some relief only due to shift of major business activities to digital space and work from home model.

Telecom sector has played a very critical role for keeping intact the digital infrastructure all around the world. During the pandemic period several institutions indulged for stabilizing the situation and providing essential services that immensely supported the growth of 5G NFV architecture.

What are the Different Market Dynamics driving the Growth of the Global Network Function Virtualization (NFV) Market?

“Rising demand for data-intensive applications and the growing trend of cloud-based networking systems have created significant opportunities for the growth of NFV market in this time period.”

What are the Driving Factors for the Global Network Function Virtualization (NFV) Market in the Forecast Years?

One of the primary drivers driving the global network function virtualization (NFV) market’s favourable outlook is its remarkable expansion in the banking, financial services and Insurance (BFSI), healthcare, retail and IT industries. To handle the expanding network traffic and huge amount of data conflicts, demand for virtual function has increased manifold.

Network function virtualization (NFV) symbolises a major shift in the telecom services from hardware devices to software programming. With worldwide operators investing more in software applications than the storage facilities, the software category accounted for a large portion of the software defined networking and network function virtualization market.

The commercial deployment of NFV by several Telecom carriers is driving the sustainable smart technologies in this arena. Transition to a 5G network services can necessitate the deployment of NFV devices even more in the coming years. Other major factors influencing the global as well as regional markets includes the growing demand for data centre consolidation and server virtualization at different locations.

What are the Major Challenges Experienced by the Network Function Virtualization (NFV) Market Players?

It has been observed that there are several delays in the adoption of this technology by several potential customers that hampers the [RS1] adoption of network function virtualization services at several instances. Also, the lack of awarenessamong the general population about the immense opportunities created by the deployment of VNF and NFV systems has restrained the market from realizing its full potential.

Inadequate infrastructure and unavailability of skilled manpower to handle the NFV hardware and software operations is a prime factor for the limited expansion of the regional markets. In addition to this, stringent regulations by government authorities to control network radiations is anticipated to pose some serious restraints for the development of software defined networking and network function virtualization market.

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Comparative View of Adjacent Network Function Virtualization (NFV) Market

Network Function Virtualization (NFV) Market :


Network Function Virtualization (NFV) Market




Market Value


US$ 5.6 Billion

Growth Factor

Rapid advancement and adoption of digital technologies.


Adoption of this technology by financial institutions to create huge opportunities.

Key Trends

Asia Pacific is the highly attractive region for emerging market players.

Network as a Service Market :


Network as a Service Market




Market Value


US$ 40 Billion

Growth Factor

Surge in demand for high-speed data with low latency among the users.


Expansion of trade over digital assets and online value transactions.

Key Trends

Increasing volume of digital or broadband services with the growth of internet users.

Content Delivery Market :


Content Delivery Market




Market Value


US$ 34.5 Billion

Growth Factor

Rise in volume of over the top (OTT) platform video contents.


Advanced technologies for improving the gaming experience can increase the demand

Key Trends

Investment in creating large screen video content for internet users.

Decreasing cost of equipment used for establishment of 5G NFV architecture has increased the demand of network function virtualization services provided by many market players. In the coming days, with the advancement of cloud computing technologies the global network function virtualization market is expected to get further owing to centralization of digital networks.

Also, the NFV devices industry is being driven by the increased deployment and use of virtual appliances. These are usually based on traffic forwarding, monitoring, security and any intrusion detection among different networking functions.

Another strong growth inducing aspect is NFV white paper, which provides optimized scalability and agility for controlling the complete network and upgrade its overall performance. In the present decade, it has been successfully tested to be utilized with in conjunction with the internet of things (IoT) appliances and private cloud computing of the new age significantly boosting the NFV market forecast sales value.

As per the market analysis report, the leading organizations can differentiate their services with the provision for a unique and credible value offer to survive and succeed in the global network function virtualization (NFV) market. It is speculated that through forming communities and systems like open NFV and forging strong alliances, the market players will be able to increase their market positions and create income.

What is the Growth Outlook for the Network Function Virtualization (NFV) Market According to Different Segments?

“Accelerated adoption of cloud computing services among both large and small business units is and development of new data centres with integration of enterprise networks is the driving factor for the growth of virtual network technology that has increased the NFV company stock in the recent past.”

According to the Polarization Technology Which Segment is Performing Well for the Global Network Function Virtualization Market?

Two types of polarization technology are deployed for the performance of NFV appliances namely that are single polarized and double polarized. Novel dual-band polarized antenna with separated input ports is the most favoured technology owing to its higher precision and efficiency. This segment is analysed to be growing at faster rate of 6% than the single polarized NFV devices during the forecast years.

Which are the Major Applications of the Network Function Virtualization (NFV) that categorizes the Market into Different Segments?

Telecommunication enterprises are quickly adopting virtual network functions as it provides major benefits such for example centralised network administrations, and better information technology (IT) agility. This segment is poised to experience a year on year increment of 6% during the forecast time period on the basis of fast and reliable application services.

Among the other segments on the basis of application of NFV devices commercial or industrial segment is the also the growing rapidly. Major sub-segments contributing it are the transport and logistics and media & entertainment sector.

NFV technologies is currently at a developing stage and has been widely adopted by the BFSI, retail and healthcare industries.

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What is the performance of Network Function Virtualization (NFV) Market in Different Geographical Regions?


CAGR (2022 to 2032)

United States (US)


United Kingdom (UK)






South Korea


In 2015, North America led the global demand for network function virtualization, and this trend is very likely to continue over the projection period, providing significant potential for all market participants in the region.

In respect of its superior technological infrastructure and acceptance of novel and niche systems, the United States (US) market is a major contributor for the evolution of 5G NFV infrastructure. It contributes almost 30% of the total revenue generated globally contributing nearly US$ 1.5 Billion in the year 2022.

As a result of higher knowledge about sustainable smart technologies among consumers of Asia Pacific countries such as China, Japan and South Korea it has turned out to be the fastest growing region for the global market. China is leading all the major economies in the growth of all major network function virtualization segments and is expected to reach an overall market value of US$ 557.4 Million by the end of this forecast period.

And lastly, the share of Latin American countries in the total turnover of global network function virtualization (NFV) market has been observed to be experiencing an upward trajectory in the last couple of years.

How Strong is the Competitive Landscape for the Network Function Virtualization (NFV) Market?

Leading market players with the goal of improving customer network usage experience are also expected to play a bigger role in the sales of network function virtualization in the global market. With the emergence of large and small scale industries as vendors, the network function virtualization has become fiercely competitive.

Service provider networks such as Telefónival, Vodafone, AT&T and Orange are among the first to deploy network function virtualization. New entrants in the global network function virtualization (NFV) market are primarily motivated by technological upgrades of the contemporary services.

What are the Recent Developments in the Field of Network Function Virtualization (NFV) Market?

  • VMware and Nokia got into partnership in November 2019 to perform the large volume cloud computing operations easier. This partnership intends to increase the sales of network function virtualization services in order to produce integrated solutions.
  • NVIDIA teamed up with Ericsson in October 2019 to facilitate its 5G radio access networks (RAN). Both firms have shifted their focus on creating technology to enable communication service operators in establishing virtualized 5G RANs as part of the collaboration.
  • Nokia Company introduced novel packet -optical switches for 5G cloud RAN in October 2019 by utilizing time-sensitive networking (TSN) designs.

Key Segments

  • By Type :

    • Parabolic Antenna
    • Flat Panel Antenna
    • Yagi Antenna
  • By Polarization :

    • Single-polarized Antenna
    • Dual-polarized Antenna
  • By Diameter :

    • 0.2m to 0.9m
    • 1.0m to 3.0m
    • 3.1m to 4.6m
  • By Frequency Range :

    • 1.0 GHz to 9.9 GHz
    • 10.0 GHz to 29.9 GHz
    • 30.0 GHz to 86.0 GHz
  • By Application :

    • Telecommunication
    • Commercial or Industrial
    • Military and Defense
    • Satellite
    • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa (MEA)

- FAQs -

The global network function virtualization (NFV) market is estimated to record a CAGR of 6.6% during the forecast period.

The global network function virtualization (NFV) market is predicted to be valued at US$ 7.8 Billion by 2032.

The global network function virtualization (NFV) market was valued at US$ 3.9 Billion in 2021.

North America accounts for the largest revenue share in the global network function virtualization (NFV) market as USA alone accounts for up to 30% of the total revenue share.

Asia Pacific region is predicted to witness the highest CAGR in the network function virtualization (NFV) market with China to record a CAGR of nearly 5.9% during the forecast period.

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Network Function Virtualization (NFV) Market

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