According to the latest report by IMARC Group, “Global Virtual Router Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global virtual router market reached a value of US$ 176.6 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 614.6 Million by 2027, exhibiting a CAGR of 22.30% during 2022-2027.
Virtual routers are a routing framework based on software that facilitates a host machine to operate as a conventional hardware router across a local area network (LAN). They share an internet connection with the Wi-Fi device, authorizing numerous devices to segment network paths for a single linkage. These devices simplify network management by decreasing the number of physical routers required. Additionally, the system helps to separate traffic and improves network security by removing the need for encryption and authentication. Consequently, virtual routers find extensive applications in virtual broadband services, virtual route reflections, and virtual cloud gateways.
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Market Trends:
The market is primarily driven by the increasing adoption of virtual routers by communication service providers (CSPs). Moreover, the increasing popularity of software-defined networking (SDN) and network functions virtualization (NFV) represents another major growth-inducing factor. In addition, virtual routers assist in developing, prototyping, and testing new communication subsystems. These routers can also assist in distance learning and are consequently used as tools that encourage students to perform virtual experiments.
This, in confluence with the rapid expansion of data centers, is escalating the demand for virtual routers around the world. Besides this, the rising product adoption in various industrial verticals due to its increased network speed, faster acquisition of data, safer storage networks, reduced total cost of ownership (TCO), and low capital expenditures (CAPEX) and operating expenses (OPEX) is also contributing to the market growth. Furthermore, the improving 5G infrastructure and the rising requirement for cloud-based services worldwide are creating a positive market outlook.
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List of Key Companies Covered in this Market Report:
- 6WIND
- Allied Telesis Inc.
- Hewlett Packard Enterprise Company
- Huawei Technologies Co. Ltd.
- International Business Machines Corporation
- Juniper Networks Inc.
- Arista Networks Inc.
- Check Point Software Technologies Ltd.
- Cisco Systems Inc.
- Nokia Corporation
- Palo Alto Networks Inc.
- ZTE Corporation.
The report has segmented the market on the basis of component, type, end user and region.
Breakup by Component:
- Solution
- Service
Breakup by Type:
- Pre-defined
- Custom
Breakup by End User:
- Service Provider
- Enterprise
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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