The new report by Expert Market Research titled, ‘Global Virtual Router Market Share Report and Forecast 2021-2026’, gives an in-depth analysis of the global virtual router market, assessing the market based on its segments like component, type, end use and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 160 billion
- Forecast CAGR (2021-2026): 21%
- Forecast Market Size (2026): USD 507 billion
The market for virtual router has seen substantial growth due to factors such as growing need for larger bandwidth and internet speed. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the virtual router market.
In addition, the range of virtual router coverage, along with its ability to host multiple networks, has enabled organizations to invest in these devices to run smoother and faster, boosting the virtual router market’s growth rate. As more and more businesses embrace virtual routers to expand their market and customer base, serious competition between companies will support the growth of the industry. During the forecast period, the rising demand for fast and safe internet in different sectors, such as advertisement, marketing, etc., would provide a significant growth rate for the virtual router market.
Industry Definition and Major Segments
The virtual router, also known as vRouter, replaces the routing of the Layer 3 Internet Protocol (IP) by replicating its software functions and eliminating hardware use. A virtual router on a single interface can host multiple routing tables simultaneously, as well as multiple routing networks. Using virtual routers decreases the cost of hardware as well as different configurations for various networks. The increasing popularity of such equipment is due to the traffic route of the system and high network security.
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Based on the component, the industry is divided into:
- Solution
- Services
Based on the type, the industry is divided into:
- Custom
- Predefined
Based on the end use, the industry is divided into:
- Telecom Providers
- Enterprises
The regional markets for virtual router include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Geographically, because of the rise in research and development (R&D) and advancements in networking technology, the area of North America is expected to hold a significant share. The area is also experiencing growing complexities in network infrastructure, increasing adoption by service providers of virtual router solutions to optimize their networks, and increasing demand to offer improved customer experience across all major verticals of the industry.
The increasing popularity of cloud services, especially the demand for private clouds, is increasing. Via the use of virtual routers, these cloud providers strengthen their operations, thereby improving the market’s growth pace. Virtual routers have attractive qualities for cloud services, such as growing network speed, quicker data acquisition, safer storage networks, etc., making the investment in virtual routers substantially higher. In addition, they also minimize CAPEX and OPEX, thus aiding the development of the demand for virtual routers.
Key Market Players
The major players in the market are Nokia Corporation, Cisco Systems Inc., Ericsson AB, Huawei Technologies Co. Ltd., Juniper Networks Inc., IBM Corporation, Hewlett Packard Enterprises Development LP, ZTE Corporation, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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