Rockville, Jan. 24, 2024 (GLOBE NEWSWIRE) -- According to a new study by Fact.MR, a market research and competitive intelligence provider, the global Virtual Networking Market is estimated to be US$ 38,151.6 million in 2024 and is projected to grow steadily by 24.80% through 2034. The market is projected to surpass a valuation of US$ 3,50,251.2 million by 2034.
Businesses, especially large enterprises, are increasingly adapting to modern technological trends to enhance their operations' scalability, agility, and cost efficiency. This has increased the significance of virtual networking solutions in the international marketplace in the past few years.
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Key Segments of Virtual Networking Market Research Report
| By Component | By End User | By Enterprise Size | By Region |
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These technological solutions are finding their applications not just in large enterprises but in the increasingly digitized landscape of small and medium-sized businesses as well. Across industries, the demand for virtual networking solutions has skyrocketed in the last couple of decades due to their ability to provide scalable and flexible network infrastructures, improve operational efficiency, and adapt to the evolving digital requirements of businesses.
Virtual networking solutions are used in a variety of applications, including data center management, cloud computing, software-defined networking (SDN), network virtualization, and virtual private network (VPN) services. These solutions allow organizations to efficiently manage and scale their network infrastructure, enhance resource utilization, and provide secure and isolated communication channels.
For instance, in 2023, Cisco announced the launch of Cisco Nexus Cloud Fabric, a new virtual networking platform. The platform is created to help enterprises in building and managing cloud-native networks.
“Compatibility with the existing infrastructure is the key. Companies in the virtual networking market must work toward compatibility with existing systems and promote interoperability with other networking technologies." Says Fact.MR analyst.
Key Takeaways from the Market Study
- The global virtual networking market is projected to expand at a CAGR of 24.80% from 2024 to 2034.
- The North American virtual networking market is expected to evolve at a CAGR of 25.40% from 2024 to 2034.
- The United States holds a dominant share of 72.20 % of the virtual networking market in the North American region.
- China dominates the virtual networking market in the East Asian region, valued at US$ 9,455.3 million in 2024.
- The virtual networking industry in the United States is expected to rise at a CAGR of 25.60% from 2024 to 2034.
- Based on enterprise size, the large enterprises segment held a 76.30% market share in 2024.
- The segment network service providers dominate the market with a 22.70% share in 2024, based on end users.
Competitive Landscape
Leading players in the virtual networking market, such as Huawei Technologies Co., Ltd., Hewlett Packard Enterprise Development LP, VMware, Inc., Cisco Systems, Inc., and Microsoft Corporation, have a significant global presence and a diverse consumer base, spanning network service providers, telecom service providers, and cloud service providers. Despite the dominance of key players, the virtual networking market includes smaller companies that address regional and small to medium-sized enterprise (SME) demands.
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Why is the United States Leading the Virtual Networking Market in the North American Region?
In 2024, the North American market reached a value of US$ 10,491.7 million, capturing a 27.5% revenue share. It is anticipated to undergo a steady expansion with a Compound Annual Growth Rate (CAGR) of 25.40% until 2034. Specifically, the United States virtual networking market is assessed at US$ 7,575 million in 2024, with a projected CAGR of 25.6% extending through 2034.
The United States, home to the renowned technological hub of Silicon Valley, boasts advanced facilities that rely on virtual networking for efficient and scalable operations. Beyond this, the country holds a global leadership position in technological innovation and research. Numerous world-class technology companies, particularly those specializing in virtualization and networking solutions, are headquartered in the United States. This concentration of expertise plays a pivotal role in driving the development and progression of virtual networking technologies.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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