Oct 20, 2020 (AmericaNewsHour) -- Global Virtual Router Market Research Report, By Component (Solution, Services), By Type (Custom, Predefined), By End- Users (Service Providers, Enterprises), By Region (North America, Europe, Asia-Pacific, and Rest of the World) -- Forecast till 2023
A virtual router is a virtual representation or software instantiation of a hardware router. A virtual router is software-based routing framework that replicates the functionalities of a hardware-based Layer 3 IP router. Virtual routers incorporate Virtual Router Redundancy Protocol (VRRP) to enable a computer or server to perform network and packet routing functionalities of the router via software application which increases the reliability of the network. Furthermore, virtual router software can be hosted and migrated on any hardware device which allows decoupling of hardware and software facilitating dynamic and holistic network management.
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Virtual routers are majorly adopted in IT & telecommunication industry by service providers and in data centers due to benefits such as low costs for hardware maintenance and infrastructure, flexibility to migrate IP routing functions in a network or data center, and uninterrupted service across the entire network. Virtual routers through virtual IP routing provides service agility by increasing the rate at which services can be created and delivered as new services can be scaled and deployed without deployment of new hardware. Virtual routers also enable optimization of capital expenditure (CapEx) and lowers operational expenditures (OpEx).
Juniper Networks, one of the leading virtual routing solutions provider, offers vMX virtual router which runs on the Junos operating system offering enhanced routing services that support businesses, broadband services, and customer premise equipment (CPE). vMX provides features such as network function virtualization (NFV) optimization, faster deployment models, cost-effective network scale-out with subscription-based licensing. Virtual router market is considerably driven by increasing penetration of software defined networking (SDN) and network function virtualization (NFV).
Virtual router market is expected to grow with the growing need for mobility, rising penetration of software-defined WAN, high demand for private cloud and virtual router applications across various industry verticals such as BFSI, manufacturing, healthcare, andtelecommunication.The global virtual router market is expected to generate a market value of USD 327 million by 2023, growing at a 22.47% CAGR during the forecast period 2018-2023.
Virtual router market study aims at different segments such as component, type, end-user, regions, and estimating market growth across these segments.
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By component, the market is segmented into solution and service. The solution is further sub-segmented into integrated solution and standalone solution. The service is further sub-segmented into professional services and managed services.
By type, the market is segmented into custom and predefined virtual routers.
By end-user, the market is segmented into service provider and enterprises. The service provider is sub-segmented into data center, telecom and cloud. The enterprises is sub-segmented into banking, financial services and insurance (BFSI), healthcare, manufacturing, government, education, and others.
By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The global market for virtual router is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of virtual router market is studied for North America, Europe, Asia-Pacific, and the rest of the world. North America holds the largest market share for virtual router market due to increasing adoption of virtual routers by service providers and huge investments by key market players such as Cisco Systems, IBM Corporation, Juniper Networks and others for development of virtual router solutions in the US, Canada, and Mexico. Asia-Pacific is expected to be the fastest growing region in the virtual router market due to growing penetration of software defined networking (SDN) and network function virtualization (NFV) in countries such as China, India, Japan, and others.
The prominent players in the virtual router are IBM Corporation (US), Cisco Systems (US), Ericsson Inc. (US), Huawei Technologies Co., Ltd. (US), Nokia Corporation (Finland), Juniper Networks Inc. (US), netElastic Systems Inc. (US), Brocade Communications Systems (US), Hewlett Packard Enterprise Company (US), Arista Networks Inc. (US), ZTE Corporation (China), Carbyne (Israel), Palo Alto Networks (US), Check Point Software Technologies (Israel), Ross Video (Canada), Inventum (India), DriveNets (Israel), 128 Technology Inc. (US), TRENDnet Inc. (US), Belkin International Inc. (US), TIME dotCom Berhad (Malaysia), ACCESS (Japan), Allied Telesis Inc. (Japan), Connectify Inc. (US), and 6WIND S.A. (France).