The Worldwide Virtual Networking Market is Projected to reach USD 150 Billion by 2029, at a CAGR of 25.5%

Published Date: 26-May-2023

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Virtual Networking Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Virtual Networking Market size is expected to reach $150 billion by 2029, rising at a market growth of 25.5% CAGR during the forecast period.

The Cloud market is leading the segment in the Global Virtual Networking Market by Deployment in 2022; thereby, achieving a market value of $95.0 Billion by 2029. As more businesses use cloud computing, they also seek to take advantage of virtual networking's advantages in the cloud, including its adaptability, scalability, and affordability. Using virtual private networks (VPNs) based on the cloud is one new development that enables businesses to safely link their cloud services to their on-premises infrastructure and other cloud resources.

The Software market would register a CAGR of 24.3 % during the forecast period. The increased use of software-defined networking (SDN) technologies is responsible for the segment's expansion. Organizations can create a virtualized network architecture that is scalable, adaptable, and effective by abstracting the network from its hardware foundation owing to SDN. Because of this, there is a higher need for applications that can deliver advanced networking features like switching, routing, and security without relying on specialized hardware.

The Large Enterprises market is generating high revenue in the Global Virtual Networking Market by Organization Size in 2022; thereby, achieving a market value of $99.5 Billion by 2029. Large companies worldwide progressively gravitate toward embracing cloud-based infrastructure and solutions to improve their scalability. As a consequence of this, there is a growing demand for virtual networking solutions that can provide connectivity that is both safe and dependable between multiple cloud environments, in addition to on-premises architecture and cloud environments.

The BFSI market would experience a CAGR of 25.2% during (2023 - 2029). BFSI companies are progressively deploying technologies for virtual networking to boost agility, increase network performance, and save expenses, all of which contribute to the industry's growth. For example, BFSI companies may utilize virtual networking solutions to build secure and customized virtual networks distinct from their physical infrastructure.

The North America market dominated the Global Virtual Networking Market by Region in 2022; thereby, achieving a market value of $53.9 Billion by 2029. The Europe market is poised to grow at a CAGR of 25.2% during (2023 - 2029). Additionally, The Asia Pacific market would witness a CAGR of 26.4% during (2023 - 2029).

Full Report:

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country-wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.

Global Virtual Networking Market Segmentation

By Deployment

  • Cloud
  • On-premise

By Component

  • Software
  • Hardware
  • Services

By Organization Size

  • Large Enterprises
  • Small & Medium Enterprises

By Application

  • IT & Telecommunication
  • BFSI
  • Manufacturing
  • Public Sector
  • Healthcare
  • Hospitality
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Companies Profiled

  • 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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Related Reports:

North America Virtual Networking Market size & Opportunities 2023-2029

Europe Virtual Networking Market & Growth Forecast 2023-2029

Asia Pacific Virtual Networking Market Share & Industry Outlook to 2029

LAMEA Virtual Networking Market Growth, Trends & Forecasts 2023-2029

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