Network Function Virtualization

As per a report, Network Function Virtualization (NFV) market is expected to see a staggering CAGR of 30% in 2021. New technologies like network virtualization, have helped communication service providers in cutting operational costs, improving business agility, and automating network and security protocols. While several telecom operators are gradually deploying NFV and deriving benefits out of it, there still is tremendous scope for further expansion of this technology. With millions of subscribers, a variety of new products, bundled and customized solutions, the operational support services like service configuration, order fulfillment, customer care, and billing are becoming increasingly complex. Hence, the cost of handling these operations require resources and different tools, thus, increasing the financial overhead. Telecommunication providers need to upgrade their IT and connectivity infrastructure and focus on providing data and voice services that are high quality, reliable, and affordable. Security of the networks has become a major priority for the telcos and they are facing challenges with the emergence of new threats that are powered by new technologies. So, a number of operational and technical innovations are needed to meet customer expectations of complete system security from network till the device level. One more challenge waiting in the wings for telcos and ISPs is the impact of Internet of Things (IoT) that is leading to explosive growth in the connected devices. This growth is generating billions and trillions of new data sources and thus, it is expected that this growth will push the data to be handled by networks to zettabytes per year. 5G Networks – The telecom carriers are working on providing the 5G networks to spark an enormous wave of faster internet. While the technology has not yet been fully defined, carriers are proceeding with the lab and field trials in their race to stay competitive.

Network Virtualization helps businesses to consolidate their physical network into a single, virtual network. Due to the increasing demands for stable IT infrastructure across the world, network virtualization is becoming increasingly popular among corporates looking to simulate traditional hardware, such as servers, storage devices, or network resources. The technology can be leveraged by small as well as enterprise-level organizations.
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