Virtual Router Market 2021 Industry Size and Share Evolution to 2028 by Growth Insight, Key Development, Trends and Forecast by Fortune Business Insights
The global virtual router market is likely to witness growth in the coming years due to increasing investment in the development of 5G technology. According to a report by Fortune Business Insights, titled “Virtual Router Market Size, Share and Global Trend By Component (Software & services), By End User (Telecom Providers, Cloud Providers, Enterprises) and Geography Forecast till 2025,” the market is likely to expand in the coming years due to the advancements made in 5G technology and growing emphasis on 5G concepts across the world.
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According to a recent report published by AT&T Intellectual Property I, L.P., the company has made investments of around US$ 23 Bn for the research and development (R&D) as well as deployment of fifth generation (5G) technology. A virtual router is a software-based routing structure that allows the host device to operate as a typical hardware router over a local area network. A virtual router allows a user to operate as a hardware router and control functions over a specified local area network. The efforts put by companies worldwide, towards R&D of 5G is likely to have a direct impact on the global virtual routers market.
Cisco Acquires Piston Cloud Computing – A Move that is Expected to Bode Well For Overall Market
In 2016, Cisco announced that it has acquired Piston Cloud Computing, a company operating in the cloud computation network. Cisco’s acquisition of Piston will help bolster its Intercloud platform and improve its operational capabilities on a global scale. Cisco’s network architecture is based on an open-source cloud integration platform. This helps the user to control their personal data across both, public and private networks. With this acquisition, Cisco plans to build the largest network ‘Intercloud’. The Intercloud is a network of globally distributed cloud platforms which is managed through a virtual network, centrally. This network helps meet consumer demands within the Internet of Everything (IOE) requirements. Cisco’s latest acquisition will have a positive impact on the global virtual router market and is likely to favor growth of the market on the forthcoming years.
Top Players List:
- Huawei Technologies Lanka Co., (Pvt) Ltd.
- Juniper Networks
- Belkin International
- D-Link USA
Incorporation of Virtual Router Redundancy Protocol (VRRP) to Boost the Global Market
The incorporation of redundancy protocol in virtual routers is driving the market over the past few years. The redundancy protocol will help users perform functions such as packet routing, centrally. The controlled operations of the virtual router over software integrated protocols has improved the reliability of the network. A virtual router software operating on the VRRP possesses many advantages that has led to an increase in demand for virtual routers, globally.
The VRRP concept is driven by three major factors, namely the virtual IP address, the virtual MAC address, and the virtual master router. In a standard VRRP, a group of routers are operating simultaneously and, in case of failure of one router, the other one can take its place. This factor has led to an increased reliability and a subsequent rise in demand for virtual routers. The use of VRRP concept has favoured the growth of the global virtual routers market and is likely to boost the market in the coming years.
Key Market Driver – Increasing adoption of virtualized CPE (Customer Premises Equipment) and 5G infrastructure
Key Market Restraint – Installation and regular update of incompatible hardware and equipment
Key players are expected to emphasize integrating Artificial Intelligence in the system. This is anticipated to propel the growth in the global Virtual Router market, said a lead analyst at Fortune Business Insights.
Integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2025. Additionally, the rising adoption of e-financial services is expected to boost the global market.
Major Segments Mentioned:
- By Component
- Integration & Implementation
- Maintenance & Operations
- By End User
- Telecom Providers
- Cloud Providers
- By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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- North America
- Asia Pacific
- Latin America
- Middle East & Africa
As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to the rising adoption of a sedentary lifestyle in nations such as India and China.
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