Virtual routing is a type of network virtualization (NFV) operation that transforms conventional hardware-based networking systems to software that can be operated on modern commercial off-the-shelf (COTS) hardware. This would have the benefit of significantly reducing the cost of hardware and enabling more hardware integration instead of demanding open-source network architectures. Integrated solutions offered by the component of the virtual router market are expected to grow at a CAGR of >25% whereas professional services are expected to share one-fourth of the market value and grow at a CAGR of more than 15%. Custom Virtual Router is expected to produce the highest market share by value of more than 60% and grow at a CAGR of 25%. Global Market Database is a world’s first dynamic B2B Market Research Platform which provides free market research tools.
The Global Virtual Router Market is expected to grow from around USD 170 Million in 2020 to around USD 1.5 Billion in 2030. The size of the global virtual router market is expected to grow at a CAGR of around 20%-25% over the forecast period 2020 – 2030. North America is expected to have a significant share of the virtual router market due to the growing demand for virtual router solutions to boost network connectivity across corporate management. North America’s virtual router market size is expected to account for more than 40% and is projected to dominate the global virtual router market, followed by APAC and Europe. This is primarily due to the vast range of virtual router providers existing in the region.
Market Size, Global Virtual Router Market, 2020-2030
The increase in the percentage of investment by major telecommunications companies such as Cisco Systems, Inc., Juniper Networks, Inc., and IBM to implement virtual routers as well as further advances in virtual router solutions, particularly in the U.S., Canada, and Mexico, is projected to boost the market of the virtual router market. It is forecasted that APAC will experience faster growth in the global virtual router market during the forecast period 2020-2030. As a result, the rise in the growth rate of both NFV and SDN, especially in prominent nations such as China, Japan, and India, has significantly increased the growth of the APAC virtual router market. Global Market Database is an effective market research tool that gives its users market wise quantitative inputs.
The growing popularity of virtual networks across various industries is expected to increase the demand for the virtual router. Providers such as telecommunication services, network infrastructure, and cloud focus on delivering effective performance through increased network flexibility. Whereas cloud service providers are investing in the installation of virtual routers to improve their network operations. The end-user service provider has thus been expected to have a substantial market share and grow at a CAGR of around 20%- 25%.
COVID-19 crises are expected to impact the market significantly in the first quarter of the calendar year but are forecasted to gradually lessen in subsequent quarters with a limited impact on the full-year economic growth. Mainly, the infrastructure segment is driven by rising economic incentives and government frameworks around the globe. The existing utility-owned Virtual Router (vRouter) is primarily impacted by the COVID-19 epidemic.
6WIND S.A. (France), 128 Technology Inc. (USA), ACCESS (Japan), Brocade Communications Systems (USA), Cisco Systems (USA), Connectify Inc. (USA), DriveNets (Israel), Ericsson Inc. (USA), Hewlett Packard Enterprise Company (USA), Huawei Technologies Co. Ltd. (USA), IBM Corporation (USA), Inventum (India), are some of the major players in the global virtual router market. The strategic alliance between such telecommunication network providers and router manufacturers is expected to drive the market and significantly contribute to the growth of the market over the forecast period 2020 – 2030.
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