In a recent published report, Kenneth Research has updated the market report for Virtual Router Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Virtual Router Market products.
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Market Synopsis
The Virtual Router Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Market Synopsis
A virtual router is a virtual representation or software instantiation of a hardware router. A virtual router is software-based routing framework that replicates the functionalities of a hardware-based Layer 3 IP router. Virtual routers incorporate Virtual Router Redundancy Protocol (VRRP) to enable a computer or server to perform network and packet routing functionalities of the router via software application which increases the reliability of the network. Furthermore, virtual router software can be hosted and migrated on any hardware device which allows decoupling of hardware and software facilitating dynamic and holistic network management.
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Virtual routers are majorly adopted in IT & telecommunication industry by service providers and in data centers due to benefits such as low costs for hardware maintenance and infrastructure, flexibility to migrate IP routing functions in a network or data center, and uninterrupted service across the entire network. Virtual routers through virtual IP routing provides service agility by increasing the rate at which services can be created and delivered as new services can be scaled and deployed without deployment of new hardware. Virtual routers also enable optimization of capital expenditure (CapEx) and lowers operational expenditures (OpEx).
Juniper Networks, one of the leading virtual routing solutions provider, offers vMX virtual router which runs on the Junos operating system offering enhanced routing services that support businesses, broadband services, and customer premise equipment (CPE). vMX provides features such as network function virtualization (NFV) optimization, faster deployment models, cost-effective network scale-out with subscription-based licensing. Virtual router market is considerably driven by increasing penetration of software defined networking (SDN) and network function virtualization (NFV).
Virtual router market is expected to grow with the growing need for mobility, rising penetration of software-defined WAN, high demand for private cloud and virtual router applications across various industry verticals such as BFSI, manufacturing, healthcare, andtelecommunication.The global virtual router market is expected to generate a market value of USD 327 million by 2023, growing at a 22.47% CAGR during the forecast period 2018–2023.
Segmentation.
Virtual router market study aims at different segments such as component, type, end-user, regions, and estimating market growth across these segments.
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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 data center, telecom and cloud. The enterprises is sub-segmented into banking, financial services and insurance (BFSI), healthcare, manufacturing, government, education, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Regional Analysis
The global market for virtual router is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of virtual router market is studied for North America, Europe, Asia-Pacific, and the rest of the world. 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 Cisco Systems, IBM Corporation, Juniper Networks and others for development of virtual router solutions in the US, Canada, and Mexico. Asia-Pacific is expected to be the fastest growing region in the virtual router market due to growing penetration of software defined networking (SDN) and network function virtualization (NFV) in countries such as China, India, Japan, and others.
Key Players
The prominent players in the virtual router are IBM Corporation (US), Cisco Systems (US), Ericsson Inc. (US), Huawei Technologies Co., Ltd. (US), Nokia Corporation (Finland), Juniper Networks Inc. (US), netElastic Systems Inc. (US), Brocade Communications Systems (US), Hewlett Packard Enterprise Company (US), Arista Networks Inc. (US), ZTE Corporation (China), Carbyne (Israel), Palo Alto Networks (US), Check Point Software Technologies (Israel), Ross Video (Canada), Inventum (India), DriveNets (Israel), 128 Technology Inc. (US), TRENDnet Inc. (US), Belkin International Inc. (US), TIME dotCom Berhad (Malaysia), ACCESS (Japan), Allied Telesis Inc. (Japan), Connectify Inc. (US), and 6WIND S.A. (France).
Intended Audience
Network service/solution provider
System Integrators
Mobile network operators
Telecom and ISP providers
Government Council
IT suppliers
Data center software providers
Cloud service providers
About Kenneth Research
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