Virtual Router Market Worth $331.5 Million by 2023
Friday, September 14, 2018
CHICAGO, September 14, 2018 /PRNewswire/ --
According to a new market research report "Virtual Router Market by Component
(Solution (Integrated and Standalone) and Service), Type (Predefined and Custom), End-User
(Service Provider (Telecom, Data Center, and Cloud) and Enterprises), and Region - Global
forecast to 2023", published by MarketsandMarkets(TM), the global market size is expected
to grow from USD 116.8 million in 2018 to USD 331.5 million by 2023, at a Compound Annual
Growth Rate (CAGR) of 23.2% during the forecast period.
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The major factors driving the growth of the Virtual Router Market are the decrease in
CAPEX and OPEX, growth in demand for SDN and NFV, and the increasing need for mobility.
Furthermore, growing demand for private cloud and virtual router applications across
network segments are expected to provide significant growth opportunities in the market.
Browse in-depth TOC on "Virtual Router Market"
54 - Tables
47 - Figures
125 - Pages
The integrated solutions segment is expected to be the larger contributor in the
Virtual Router Market during the forecast period.
The integrated solution includes virtual router offerings integrated in a large SDN
and NFV suite. Major network providers, such as Cisco and Juniper, offer virtual router
capabilities within their NFV suite. Service providers and carriers can enable the virtual
router capabilities within their network, which is offered by the players at various
network segments, such as IP network, virtual mobile packet core, and cloud/NFV
infrastructure. The integrated solution segment has a large market share in the global
Virtual Router Market, as the major players, such as Cisco, Juniper, Ericsson, and Nokia,
are offering integrated virtual router solutions.
The managed services segment is expected to have the larger market size during the
Managed services include outsourced services, such as infrastructure management and
other support and maintenance services, to monitor activities from the customers' network
to data centers. Virtual router vendors assist their customers efficiently to manage
routing functionality, risk, and security within their networks. IBM and HPE are the key
service providers in the Virtual Router Market.
North America is expected to account for the largest market size during the forecast
North America is the major revenue generating region in the global Virtual Router
Market. The region has witnessed the maximum adoption of virtual router solutions, due to
the increasing complexities in network infrastructure across all the service providers. In
the North American region, enterprises in the US and Canada are expected to significantly
adopt virtual router solutions. Therefore, the region is expected to account for the
largest market size during the forecast period.
The major vendors in the global Virtual Router Market are IBM (US), Cisco (US),
Ericsson (Sweden), Huawei (China), Nokia (Finland), Juniper (US), net Elastic (US),
Brocade (US), HPE (US), Arista Networks (US), ZTE Corporation (China), Carbyne (Israel),
Palo Alto Networks (US), Check Point Software (Israel), Ross Video (Canada), Inventum
(India), Drivenets (Ha-Sharon), 128 Technology (US), TRENDnet (US), Linksys (US), TIME
(Malaysia), ACCESS (Japan), Allied Telesis (Japan), Connectify (US), and 6WIND (France).
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