- North America holds the largest market share in the global market due to increasing adoption of virtual routers by service providers, rapid technological advancement, and huge investments.
- Market Research Future (MRFR) expects a hike for this market at 22.47% CAGR.
- In Europe, the Virtual Router Industry is growing due to the increasing adoption of virtual routers in countries like France, Germany, Italy, Spain, and the UK.
A virtual router is a virtual representation or software instance of a hardware router. Market Research Future (MRFR) expects a hike for this market at 22.47% CAGR (Compound Annual Growth Rate) between 2018 and 2023. By value, the market has been figured to be worth the $327 million by the end of the forecast period.
The vital driver for the global Virtual Router Industry is the incorporation of Virtual Router Redundancy Protocol (VRRP) that can enable a computer or server to perform network and packet routing functionalities of the router via the software application. These functionalities increase the reliability of the network. The use of virtual routers is increasing in the information technology (IT) & telecommunication industry due to benefits like the flexibility to migrate IP routing functions in a network or data center, low costs for hardware maintenance & infrastructure, and uninterrupted service across the entire network.
Via virtual IP routing, virtual routers can provide service agility by increasing the rate at which services can be created and delivered. This is because new services can be scaled and deployed without the deployment of new hardware. Virtual routers also optimize capital expenditure (CapEx) and lower operational expenditures (OpEx). Other factors aiding the market growth include growing need for mobility, high demand for private cloud, the necessity for virtual router applications across various industry verticals, and rising penetration of software-defined wide-area network (WAN).
The global Virtual Router Industry segments into component, end-user, type, and lastly, region. The component-based segments this market into service and solution. Services have been sub-segmented into professional services and managed services. Solutions have been segmented into an integrated solution and standalone solution.
Based on end-user, the market can be segmented into enterprises and service provider. The enterprises segment breaks down into banking, financial services & insurance (BFSI), education, government, healthcare, manufacturing, and others. The service provider segment has been divided into the cloud, data center, and telecom. By type, the market can be segmented into custom virtual routers and predefined virtual routers.
The regional segmentation of the global Virtual Router Industry is Asia Pacific, North America, Europe, and the rest of the world (RoW). North America holds the largest market share in the global market due to increasing adoption of virtual routers by service providers, rapid technological advancement, and huge investments by key market players for the development of virtual router solutions in the USA, Canada, and Mexico.
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The key players in the global Virtual Router Industry include 6WIND S.A. (France), 128 Technology Inc. (USA), ACCESS (Japan), Allied Telesis Inc. (Japan), Arista Networks Inc. (USA), Belkin International Inc. (USA), Brocade Communications Systems (USA), Carbyne (Israel), Check Point Software Technologies (Israel), 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), Juniper Networks Inc. (USA), netElastic Systems Inc. (USA), Nokia Corporation (Finland), Palo Alto Networks (USA), Ross Video (Canada), TIME dotCom Berhad (Malaysia), TRENDnet Inc. (USA), and ZTE Corporation (China).
In Europe, the Virtual Router Industry is growing due to the increasing adoption of virtual routers in countries like France, Germany, Italy, Spain, and the UK, followed by the remaining countries of Europe. Some key market players are based in Europe too. During the forecast period, the Asia Pacific region is expected to rise as the fastest growing regional market due to growing penetration of network function virtualization (NFV) and software-defined networking (SDN) in countries such as China, India, Japan, and Singapore, followed by the remaining countries of Asia Pacific region.
The RoW segment covers the countries of Latin America and the Middle East & Africa (MEA). Latin America is a small market because the availability of advanced technology is limited in this region. Argentina and Brazil are two strong economies that have the potential to rise as lucrative markets in the future. In the MEA region, the market is small due to poor countries, lack of education, lack of awareness, lack of skilled professionals, and lack of technological advancement.
Latest Industry News
Excitel Broadband, a high-speed Internet Service Provider (ISP) in India has successfully deployed 6WIND Turbo Router software appliances in order to provide ultra-fast broadband services for its 200,000 users. 19 MAR 2019
In JHComp, 6WIND has won a new customer from Brocade as JHComp are replacing virtual routers from Brocade with 6WIND virtual routers. 8 FEB 2019