North America 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 North America Virtual Networking Market would witness market growth of 24.7% CAGR during the forecast period (2023-2029).
With the help of virtual networking, devices can operate in numerous locations with the same abilities as a regular physical network. This enables data centers to spread across various physical locations and gives network administrators new, more effective options. This includes the ability to quickly modify the network as needs change without having to replace or purchase additional hardware, greater flexibility in providing the network for particular needs and applications, and the capability to move workloads throughout the network systems.
Virtual networking improves server or remotely located device control due to the quick development of technology and advancements in internet access. Users can communicate remotely or locally across different or comparable networks by using a streamlined interface because of virtual networking.
The primary driver behind the development of the market is the high demand for cutting-edge technology that can combine various services and devices on a single hardware platform. Additionally, the rising usage of machinery, services, and devices that need virtual networking for optimal performance, and the rise in use of cloud-based solutions also propel the need for virtual networking.
The demand for virtual networking is continuously rising in North America because of the rise in the adoption of cutting-edge technologies for communication and the swift changes in IT infrastructure. Due to the widespread use of contemporary communication methods by Americans and Canadians, the US is expected to have the most influence on the growth of the virtual networking market. This region's primary drivers of growth are increased private player investment and government and network cooperation.
The US market dominated the North America Virtual Networking Market by Country in 2022; thereby, achieving a market value of $38,882.6 Million by 2029. The Canada market would exhibit a CAGR of 27.5% during (2023 - 2029). Additionally, The Mexico market is experiencing a CAGR of 26.4% 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 U.S., Mexico, Canada, and Rest of North America.
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 North America
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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