MarketsandMarkets expects the virtual router market to grow from USD 116.8 million in 2018 to USD 331.5 million by 2023, at a Compound Annual Growth Rate (CAGR) of 23.2% during the forecast period.
Virtual router solutions offer various benefits such as network flexibility, and scalability, reduced operational cost, enhanced network performance. Various service providers such as telecom, cloud, and data center have started using virtual router solution to increase network efficiency and thereby improve customer experience, and profit margins.
Major vendors in the global virtual router market include IBM (US), Cisco (US), Ericsson (Sweden), Huawei (China), Nokia (Finland), Juniper (US), netElastic (US), Brocade (US), HPE (US), Arista Networks (US), ZTE Corporation (China), Carbyne (Israel), Palo Alto Networks (US), Check Point Software (Israel), Ross Video (Canada), Inventum (India), Drivenets (Ha-Sharon), 128 Technology (US), TRENDnet (US), Linksys (US), TIME (Malaysia), ACCESS (Japan), Allied Telesis (Japan), Connectify (US), and 6WIND (France). These players have adopted new product launches, product enhancements, and partnerships as the key growth strategies to offer feature-rich products and services to their customers and penetrate deeper into the unserved regions.
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Cisco, a leading vendor in the virtual router market, offers competitive solutions to the virtual router market, with the aim to offer end-to-end solution with Network Functions Virtualization (NFV) infrastructure. The companies in the virtual router market are undertaking various organic and inorganic strategies to stay competitive in the market. For instance, in July 2018, Cisco partnered with AT&T to offer support for choosing the full stack of Cisco NFV to its clients across 90 countries. Moreover, in April 2018 Cisco launched new consumption models for its Cisco Tetration solution for cloud as well as data center. Tetration -V is a software only version that uses a virtual appliance for smaller deployments.
Juniper Networks, is another market-leading company in the virtual router market. It offers vMX Virtual Router that is designed to offer complete features and operational consistency with physical MX 3D universal edge routers running on Junos operating system. The company is also undertaking various inorganic strategies such as agreements and partnerships to increase its market share. For instance, in May 2017, the company formed a partnership with Coloclue, to help the latter build next-generation network platform using Juniper’s VMx Virtual Router. Also, in March 2017, the company formed a partnership with A2B internet, with the aim to become the first network function service provider.
Virtual Router Market by Component (Solution (Integrated and Standalone) and Service), Type (Predefined and Custom), End-User (Service Provider (Telecom, Data Center, and Cloud) and Enterprises), and Region - Global forecast to 2023
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