Virtual Router Market to be Driven by Increasing Adoption of Digital Transformation Strategies By 2028
Wide adoption of AI in data analytics is expected to
drive the Global Virtual Router Market in the forecast period 2024-2028.
According to
TechSci Research report, “Virtual Router Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast. 2018–2028,” the Global Virtual Router market is
anticipated to register a robust growth during the forecast period 2024-2028. Global
Virtual Router market is growing as NFV (Network Functions Virtualization) and Software
Defined Networking (SDN) are becoming more and more popular worldwide. These
solutions use an "overlay" strategy by enabling the encapsulation of
traffic using IP-based tunnels. Additionally, a number of virtual routers with
WAN applications have entered the market. Additionally, these cutting-edge
virtual router solutions may be implemented in hardware that is industry
standard, opening a larger range of applications. Such capabilities have
encouraged the use of virtual routers worldwide, ultimately fueling market
expansion on a global scale. Additionally, using a virtual router, results in
greater cost savings because special hardware is not necessary in order to use
it for routing. The demand for virtual routers,
internationally, has been positively impacted by this factor as well. The
global market for virtual routers has also been boosted by the rising demand
for virtual routers to replace WAN-based routers. The market's expansion has
been somewhat constrained by the fact that virtual routers cannot carry out the
duties of a heavy-duty core IP router. The market for virtual routers may be
anticipated to offer a number of development opportunities over the forecast
period, given the rising demand for virtual networks across various end use
verticals and the developing improvements of virtual router software, in turn,
enabling growth in the global Virtual Router market.
Moreover, the use
of a virtual router caters to the increasing need for more bandwidth and faster
internet connection. Additionally, enterprises have been able to invest in
these devices to run more smoothly and quickly, which has increased the growth
rate of the virtual router market. This is due to the range of coverage that
virtual routers offer as well as their capacity to host different networks. As
more businesses employ virtual routers to grow their businesses and customer
base, the fierce competition among businesses will support the industry's
expansion. The market for virtual routers is expected to experience
considerable growth over the projected period due to the expanding demand for
fast and secure internet across a variety of industries, including marketing
and advertising.
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Global Virtual Router
market is segmented by component, type, and end users. On the basis of
component, the market is further segmented into solution and service. Based on
type, the market is further divided into Custom and Predefined. On the basis of
end user, the market is further segmented into Service Providers and
Enterprises.
Based
on component, the service segment had the largest share in 2022 as professional
services and managed services are both included in the services segment.
Vendors of virtual routers offer these solutions to ensure the smooth
installation and operation of virtual routers. Professional services include
things like consulting, implementation, optimization, technical, featured,
design & transition, and support & training services. As an
alternative, managed services offer things like architecture advice, system
administration and operations (Ops), performance testing and tuning, and more.
Managed services are a supplement to additional information technology (IT)
resources since many firms require more IT staff to manage business realities
including the efficient operation of IT assets and the monitoring of data
inside the organization. In the upcoming years, managed services are
anticipated to have increased demand as they help firms identify and optimize
critical business processes.
Key market players in the Virtual Router market:
- Juniper Networks, Inc
- Telefonaktiebolaget LM Ericsson
- Broadcom Inc.
- 6WIND
- Huawei Technologies Co., Ltd.
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Cisco Systems, Inc.
- Nokia Corporation
- 128 Technology
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“In terms of revenue
share, North America dominated the global market in 2022. Virtual routers are
widely used in North America, where leading vendors with cutting-edge products
include Juniper Networks, Cisco, IBM, and others. The major players in this
market are using a variety of techniques to offer cutting-edge solutions, which
is fostering market expansion. Additionally, businesses in this area have made
investments in cloud infrastructure, which they are anticipated to use wisely
over time. Additionally, it is anticipated that businesses in North America
would adopt cloud computing platforms and solutions widely to meet their
expanding demand for contemporary infrastructure, as they expand their
operations.” said, Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Virtual Router Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast. 2018–2028, Segmented By Component (Solution, Service), By Type
(Custom, Predefined), By End Users (Service Providers, Enterprises), By Region,
Competition has evaluated the future growth potential of global Virtual
Router Market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Global Virtual Router
Market.
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