The latest research study “Virtual Router Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global virtual router market reached a value of US$ 176.6 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 614.6 Million by 2027, exhibiting a CAGR of 22.30% during 2022-2027.
Covid-19 Impact:
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Industry Definition and Application:
A virtual router is an ascendable and pliable software-based routing structure that allows the host machine to function as a conventional hardware router over a local area network. It is recognized with a distinctive virtual router identifier (VRID), which is present at the last byte of the address. Due to its potential to reduce hardware costs and help develop new applications, it is widely used in the telecommunication industry.
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Global Virtual Router Market Trends and Drivers:
One of the primary factors driving the market is the significant rise in the acceptance of virtual routers by communication service providers (CSPs), along with the increase in the adoption of software-defined networking (SDN) and network functions virtualization (NFV). In line with this, virtual routers help prototype, develop and test new communication subsystems. Moreover, they also aid in diminishing the total cost of ownership (TCO) by lowering the capital expenditures (CAPEX) and operating expenses (OPEX) of businesses from various industries. Besides this, the utilization of virtual routers has increased to assist in distance learning and thus used as tools that allow students to perform virtual experiments. Besides this, the technological development, and the fulfillment of virtual router redundancy protocol (VRRP) to segregate traffic and enhance network security are influencing the market growth. Several other growth-inducing factors are the speedy expansion of data centers, rise in the need for cloud-based services across the globe and improving 5G infrastructure.
| Virtual Router Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 176.6 Million |
| Market forecast in 2027 | US$ 614.6 Million |
| Growth Rate | CAGR of 22.30% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Component, Type, End User and Region |
| Regional scope | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
| Key companies profiled | 6WIND, Allied Telesis Inc., Arista Networks Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., International Business Machines Corporation, Juniper Networks Inc., Nokia Corporation, Palo Alto Networks Inc. and ZTE Corporation. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization preview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
- Solution
- Service
Breakup by Type:
- Pre-defined
- Custom
Breakup by End User:
- Service Provider
- Enterprise
By Geography:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
List of Major Key Players:
The major players in the market are 6WIND, Allied Telesis Inc., Arista Networks Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., International Business Machines Corporation, Juniper Networks Inc., Nokia Corporation, Palo Alto Networks Inc. and ZTE Corporation.
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