The global Network Function Virtualization (NFV) market will grow at a staggering compound annual growth rate (CAGR) of 33 percent by 2020 according to a new report published International market research firm Technavio.
The report, entitled Global Network Function Virtualization Market indicates that although telecom operators have dominated the NFV market for some years, enterprise cloud and internet service providers adoption will drive growth in the future.
Other key takeaways from this forecast include growth drivers such as:
- Internet-connected devices will provide a major boost to the global NFV market as their adoption grows.
- Connected devices will lead to the generation of large blocks of data.
- Connected car, connected home, connected health, and smart cities – has led many industries such as manufacturing, utilities, retail, automotive, and social media to use Internet of Things (IoT) for increased data transfer.
- Mobile core, DPI, routing, gateways, traffic management, and security may lead to customize network services for IoT
The report also includes a section on competitive landscape and key vendors, of which Telco Systems is profiled as a prominent industry player.
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