Global Virtual Networking Market Size Report, Forecast to 2031 – COVID-19 Impact Analysis
Global Virtual Networking Market is Anticipated to Witness CAGR of 26.1% from 2023 – 2031
HOUSTON, TEXAS, UNITED STATES, July 10, 2023/EINPresswire.com/ — Global Virtual Networking Market: Industry Overview
On the basis of revenue, the global virtual networking market is anticipated to reach US$ 216.78 Bn in 2031, growing at an estimated CAGR of 26.1% from 2023- 2031. Multiple PCs, virtual machines (VMs), virtual servers, or other devices can communicate with one another over various office and data center locations due to virtual networking. Virtual networking expands these capabilities by utilizing software administration to link computers and servers via the Internet, as opposed to physical networking, which connects computers using cables and other hardware. It makes use of virtualized variations of conventional network tools like switches and network adapters to provide quicker network configuration changes and more effective routing. Virtual networking, for instance, uses a virtual private network (VPN) to establish a safe link between two networks via the Internet. Employees may connect to company networks while working from home or remotely using a VPN, which is also frequently used to bypass Internet filtering and hide browser history on public Wi-Fi networks. Network agility was essential for keeping operations functioning during the worldwide pandemic and adjusting to traffic variations. Companies had trouble getting hardware on-site as a result of chip shortages brought on by the disruption of the global supply chain, which made the situation worse. Virtual networking has been found to increase corporate agility, decrease complexity, and enhance time-to-market.
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Global Virtual Networking Market Growth Drivers
• Rise in digital transformation: Enterprises are benefiting from the agility that virtual networking brings by being able to deploy capabilities rapidly when and where they are needed without having to worry about hiring new staff or spending CAPEX on new gear. Virtual networking is making it easier for businesses to implement a dispersed network design with many points of presence as more embrace regional cloud presence. The cornerstone of an interconnected-oriented world where computing, data, and users all converge is through these new architectures.
• Virtual networking developments will fuel the expansion of hybrid multicloud: Companies that modernise and optimize their networking out to the edge with virtual networking are able to reduce many of the difficulties associated with the deployment of hybrid multicloud systems. Establishing dynamic security perimeters, allocating cloud resources among data and apps, and creating environments for business continuity and disaster recovery are all made simpler and faster by virtual networking. When connecting to hybrid multicloud environments, businesses using these low-latency, software-defined networking systems also get improved network performance at a lower cost.
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Global Virtual Networking Market Recent Developments
• The increasing demand on business IT infrastructure in today’s quick-changing environment have elevated virtual networks to the status of networking’s new benchmark. By streamlining and automating many of the operations required to maintain a datacenter network and cloud security, virtual networking may assist organisations in making major improvements in terms of agility, speed, and security. Furthermore, many firms are choosing to partition their entire network infrastructure nowadays in light of cyber threat environment. Subnets are several networks that have replaced the one main network. The essential tenet of this argument is that, should a cyberattacker succeed in breaching one Virtual Network, their chances of succeeding in breaching the others and gaining access to the crown jewels statistically decrease to nearly zero. Even though it can seem difficult, having a virtual network makes it relatively simple to install and deploy. This method boosts security by introducing even more redundancy.
• The APAC region is estimated to be the fastest growing region in the virtual networking market during the forecast period, due to the fact that growing numbers of IT leaders are turning to virtual infrastructure to support the development of global digital businesses. According to a survey, 35% of IT organizations stated they will deploy virtually for the foreseeable future, while 41% said they would deploy virtually in the near term before creating permanent physical infrastructure. Furthermore, for various applications and workloads, businesses are using more CSPs (such as AWS, Microsoft Azure, Google Cloud, Oracle Cloud, VMware, etc.) in order to secure high performance, dependable, private connections that connect all company apps and data since there are so many diverse workloads in so many different clouds. The path for users and devices to access all of these resources is optimized when using an SD-WAN router for cloud-to-cloud routing through high speed, dedicated virtual connections.
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Global Virtual Networking Market: Competitive Landscape and Key Developments
o Cisco Systems, Inc.
o Hewlett Packard Enterprise Development LP
o Huawei Technologies Co., Ltd.
o IBM
o Juniper Networks, Inc.
o Microsoft
o Oracle
o Red8
o Telefonaktiebolaget LM Ericsson
o Verizon
o Virtual Network Solutions
o VIRTUAL NETWORK SOLUTIONS
o VMware, Inc
o Other Industry Participants
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Global Virtual Networking Market:
By Offerings
o Solutions
o Services
o Managed services
o Professional Services
By Type
o Virtual private networks (VPNs)
o Virtual local area networks (VLANs)
o Virtual extensible local area networks (VXLANs)
By Deployment
o Cloud Based
o Web based
By Organization Size
o Small and Medium Sized Organizations
o Large Organizations
By End Users
o Healthcare
o Education
o Banking, Finance Services and Insurance
o Retail
o Property
o IT and Telecommunication
o Others
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By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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