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.
- 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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