The global Virtual Router Market Growth is expected to generate a market value of USD 327 million by 2023, growing at a 22.47% CAGR during the forecast period. Benefits of deployment of virtual routers such as hosting from any hardware, low maintenance costs, and uninterrupted service across networks can drive market demand. The fast delivery of services and scaling of businesses without deployment of hardware can influence its demand in the coming years.
Applications across telecommunication, healthcare, manufacturing, and BFSI, penetration of network function virtualization, and demand for mobility can drive the market demand during the assessment period. Rapid changes of networking equipment, demand for lightning fast internet speeds, and evolution of network architecture for computing and storage needs can factor in estimating the market growth.
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By component, the market is segmented into solution and service. The solution is further sub-segmented into integrated solution and standalone solution. The service is further sub-segmented into professional services and managed services.
By type, the market is segmented into custom and predefined virtual routers.
By end-user, the market is segmented into service provider and enterprises. The service provider is sub-segmented into telecom, data center, and cloud. The enterprises is sub-segmented into education, banking, financial services and insurance (BFSI), government, healthcare, manufacturing, and others.
The geographical analysis of virtual router market is studied for North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America holds the largest market share for virtual router market due to increasing adoption of virtual routers by service providers and huge investments by key market players such as Juniper Networks, Cisco Systems, IBM Corporation, and others for development of virtual router solutions in the U.S., Canada, and Mexico.
APAC is expected to be the fastest growing region in the virtual router market due to growing penetration of SDN and NFV in countries such as Japan, China, India, and others. Presence of small and midsize companies and management of huge swathes of data can drive regional market demand till 2023. Management of CPE functions and lowering the number of physical routers can bode well for the market.
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TIME dotCom Berhad, Arista Networks Inc., TRENDnet Inc., Carbyne, Huawei Technologies Co., Ltd., Inventum, IBM Corporation, Hewlett Packard Enterprise Company, Palo Alto Networks, Ericsson Inc., Juniper Networks Inc., netElastic Systems Inc., 128 Technology Inc., Belkin International Inc., Check Point Software Technologies, 6WIND S.A., Allied Telesis Inc., DriveNets, Cisco Systems, Brocade Communications Systems, Ross Video, ACCESS, Nokia Corporation, Connectify Inc., and ZTE Corporation are key players of the global virtual router market. Virtualization services offered by players for supporting broadband services, businesses, and customer premise equipment can attract clients during the forecast period.
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