Europe Virtual Networking Market Size, Share & Industry Trends Analysis Report By Deployment (Cloud and On-premise), By Component (Software, Hardware and Services), By Organization Size, By Application, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Europe Virtual Networking Market would witness market growth of 25.2% CAGR during the forecast period (2023-2029).
Virtual networking is a technique that promotes data transfer between virtual computers. A prominent example of a virtual network is the Internet of Things (IoT), which communicates with the physical world. Its primary technologies are wireless sensor networks and the Internet. Utilizing intelligent actuators and sensors to create a pervasive environment and ubiquitous experience is the aim of IoT.
It enables automation across many businesses by gathering and analyzing enormous amounts of data. IoT is increasingly used in business applications, including smart grids, smart parking, smart agriculture, and smart homes. The healthcare system differs from the other disciplines in that it should produce believable and trustworthy results. Real-time remote monitoring, including data detection, collecting, and reporting, is possible because of IoT technology in various commercial sectors.
IoT systems can use this feature to monitor patient health and report findings to parties involved in healthcare, such as caregivers, physicians, or emergency services. This further implies that even the smallest businesses have become international contenders due to the Internet and business virtual networks.
The need for improved network performance management also drives an increase in the adoption of virtual networking solutions in Germany. The German economy is strongly dependent on digital infrastructure. Thus, businesses are searching for methods to monitor and improve their networks. As the use of cloud-based apps increases, businesses also invest in solutions for handling and maximizing their cloud networks. This promotes the usage of virtual networking solutions throughout the country. In addition, the increased focus on data security has influenced the use of these technologies in Germany. These factors collectively are boosting the market for virtual networking in the region.
The Germany market dominated the Europe Virtual Networking Market by Country in 2022; thereby, achieving a market value of $9,662.7 Million by 2029. The UK market is exhibiting a CAGR of 24.2% during (2023 - 2029). Additionally, The France market would experience a CAGR of 26.2% during (2023 - 2029).
Based on Deployment, the market is segmented into Cloud and On-premise. Based on Component, the market is segmented into Software, Hardware and Services. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Application, the market is segmented into IT & Telecommunication, BFSI, Manufacturing, Public Sector, Healthcare, Hospitality and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Virtual Networking Market is Projected to reach USD 150 Billion by 2029, at a CAGR of 25.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Hewlett Packard Enterprise Company, VMware, Inc., Cisco Systems, Inc., Microsoft Corporation, IBM Corporation, Citrix Systems, Inc. (Cloud Software Group, Inc.), Juniper Networks, Inc., Oracle Corporation and Verizon Communications, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- IT & Telecommunication
- Public Sector
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Hewlett Packard Enterprise Company
- VMware, Inc.
- Cisco Systems, Inc.
- Microsoft Corporation
- IBM Corporation
- Citrix Systems, Inc. (Cloud Software Group, Inc.)
- Juniper Networks, Inc.
- Oracle Corporation
- Verizon Communications, Inc.
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