According to the latest report by IMARC Group, titled “Virtual Router Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global virtual router market size reached US$ 176.6 Million in 2021. Virtual routers are software-based routing frameworks that enable a host machine to function as a conventional hardware router across a local area network. With its virtual router identifier (VRID) found at the last byte of its address, it shares an internet connection with the Wi-Fi device, allowing multiple devices to segment network paths for a single connection. The device simplifies network management by reducing the number of physical routers needed. Additionally, the system helps to separate traffic and enhances network security by removing the need for encryption and authentication. Consequently, it finds extensive applications in virtual broadband services, virtual route reflections, and virtual cloud gateways.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Virtual Router Market Trends:
The global market is majorly driven by the rising popularity of software-defined networking (SDN) and network functions virtualization (NFV). In addition to this, the increasing utilization of cloud-based services, along with the escalating need for mobility, is providing an impetus to the market. Moreover, the rapid expansion of data centers and communication service providers (CSPs) across the globe is also resulting in a higher product uptake. Apart from this, the augmenting adoption of 4G and the increasing deployment of 5G infrastructure are creating a positive outlook for the market. The market is further driven by the rapid utilization of virtual router redundancy protocol (VRRP) for separating traffic and escalating network security. Some of the other factors contributing to the market include rapid urbanization, continual technological advancements, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 614.6 Million by 2027, exhibiting a CAGR of 22.30% during 2022-2027.
- Based on the component, the market has been segmented into solution and service.
- On the basis of the type, the market has been divided into pre-defined and custom.
- Based on the end user, the market has been categorized into service provider and enterprise.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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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