Allied Market Research recently published a report, titled, “Virtual Router Market by Component and End-User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025”.The report states that the global virtual router market accounted $90.00 million in 2017 and is expected to reach $515.00 million by 2025, registering a CAGR of 24.4% from 2018 to 2025.
Numerous factors, such as the growth in demand for software-defined networking (SDN), advent of network functions virtualization (NFV) technologies, an increase in the need to improve network agility and efficient scale out by service providers, a shift in preference toward virtual router, and an increase in requirement of scalable, agile, and cost-efficient cloud networking solution supplements the growth of the market. However, the growth of the global virtual router market is seriously impeded by the inability of the virtual router to perform functions of heavy duty core IP routers.
Based on the component, the solution segment dominated the global virtual router market in 2017 and is expected to continue this trend during the forecast period owing to growth in demand for virtual router solutions as numerous companies are expected to commit to multi-cloud architectures, both public and private, and from several different providers. Furthermore, the services segment is expected to grow at the highest CAGR during the forecast period, as it provides a cost-effective way of allowing easy access and keeping operations activity more secure for the organizations.
The global virtual router market was led by the BFSI segment in 2017 and is projected to maintain its dominance during the forecast period. However, the healthcare segment is expected to witness the highest growth, as the adoption of virtual routers has become essential for healthcare organizations, due to rise in concerns regarding security, cost, and complexity.
Key Findings of the Virtual Router Market:
- By component, the software segment is expected to exhibit significant growth in the global virtual router market during the forecast period.
- In 2017, the services segment accounted for the highest revenue in the component category.
- Based on end user, the enterprise segment generated the highest revenue in 2017.
- By end user, the service provider segment is expected to exhibit significant growth in the global virtual router market during the forecast period.
- Based on region, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.
Leading Industry Players:
Some of the key market players profiled in the report include 128 Technology, Nokia, Cisco Systems, International Business Machines Corporation (IBM), Hewlett Packard Enterprise, Huawei Technologies Co., Ltd., 6WIND, Broadcom (Brocade Communications Systems), Ericsson, Juniper Networks, Netronome, and others.
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