Press Release Published by: https://www.abiresearch.com/
Source URL: https://www.abiresearch.com/press/abi-research-forecasts-nfv-market-will-reach-38-bi/
After a slower start than initially anticipated, the Network Function Virtualization (NFV) market will experience moderate growth through ongoing NFV investments by major telcos. ABI Research forecasts that North America will lead the market, accumulating $13 billion in NFV-related investments during 2022, while Europe will experience the highest growth rate at an estimated 53% CAGR between 2017 and 2022. Early adopters claim several benefits to NFV-enabled systems, which include reductions in network CAPEX & OPEX, service agility, and reduced deployment times for new network elements.
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“In 2015 and 2016, the market experienced some early successes but mostly reconsiderations and failures with NFV,” says Neha Pachade, Senior Analyst at ABI Research. “Early adopters conducted proof of concept testing and NFV-integrated system demonstrations with the aim to understand the true impact of NFV in the technical, operational, and cultural domains. Our forecasts indicate that NFV will become a sizeable opportunity for vendors, although it is not yet clear whether it will cannibalize existing hardware-based product lines or create new market use cases.”
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