BANGALORE, India, July 22, 2021 /PRNewswire/ -- The Global Virtual Router Market is Segmented by Type (Software and Solutions, Services), by Application (Service Providers, Enterprises). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. This report is published on Valuates Reports under Network Monitoring & Management Category.
A virtual router, also known as a vRouter, is a software function that simulates the capability of a hardware-based Layer 3 Internet Protocol (IP) routing system, which traditionally required a specific hardware device.
Virtual routing frees IP routing functions from specific hardware, allowing them to roam across a network or data centre more easily. In a basic software routing function, routing software is installed on a commodity server, which turns it into a router. Pieces of routing software can be transferred around entire networks in a more sophisticated distributed routing system, while being governed by a centralised control plane.
The global Virtual Router market size is projected to reach USD 595.8 Million by 2026, from USD 159.5 Million in 2019, at a CAGR of 20.7% during 2021-2026.
Major factors driving the growth of the virtual router market are:
An increase in demand for a reduction in the total cost of ownership (TCO) is expected to grow the virtual router market.
Rise in need to improve network agility and efficient scale-out by service providers is expected to drive the virtual router market
Furthermore, the growing demand for virtual networks across different end-use verticals, coupled with the growing advancements of virtual router software will propel the virtual router market growth.
TRENDS INFLUENCING THE GROWTH OF VIRTUAL ROUTER MARKET
Service providers are increasingly moving from expensive, dedicated hardware devices to virtualized solutions that are cost-efficient and scalable. With the virtual Router's greater feature, time to market for new services is shortened, resulting in increased carrier revenue and customer satisfaction.
By introducing virtual routers, internet and cloud service providers can focus on lowering the cost of massive hardware containers and deploy them on an as-pay-as-you-grow basis. As a result, virtual routers can aid in a significant decrease in CAPEX and OPEX. Thus the cost-efficient nature of virtual routers is expected to drive the growth of the virtual router market.
Furthermore, the ability of the virtual router to easily move routing functions around a network or data center is expected to propel its market growth. Virtual routing frees IP routing functions from specific hardware, allowing them to roam across a network or data center more easily. In a basic software routing function, routing software is installed on a commodity server, which turns it into a router. In a more advanced distributed routing environment, routing software components can be transported across entire networks and governed by a centralized control plane.
Based on type, the software solutions segment is dominating the market in 2019. The growing need for custom features to improve performance efficiencies, as well as the requirement to provide technical support and consulting services to add value to client interactions, is driving the virtual router market
Based on application the Service Providers segment is dominating the market in 2019. Virtual routers assist service providers in increasing network agility and providing scalable and flexible routing capabilities while lowering CAPEX and OPEX.
Based on region, the USA market holds the largest virtual router market share of about 56% in 2019.
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