Global Virtual Router Market Report and Forecast 2024-2032

Global Virtual Router Market Outlook

The global virtual router market reached a value of about USD 283.45 billion in 2023. The market for virtual router is being driven by increasing adoption of virtualisation and the growing demand for fast and secure internet. The market is further expected to grow at a CAGR of 21.1% in the forecast period of 2024-2032 to reach a value of approximately USD 1591.19 billion by 2032.

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Investments by Organizations to Bolster the Virtual Router Industry Growth

The growing need for larger bandwidth and internet speed is catered by the usage of a virtual router. Furthermore, the range of coverage of virtual routers, along with its ability to host multiple networks, has allowed organizations to invest in these devices to function smoother and faster, boosting the growth rate of the virtual router market. The severe competition among organizations will aid the growth of the industry as more and more companies are adopting virtual routers to expand their company and customer base. The growing requirement for fast and secured internet in various sectors, such as advertising, marketing, etc. will provide a significant growth rate for the virtual router market during the forecast period.

Virtual Routers: Market Segmentation

Virtual router, also known as vRouter, replaces the Layer 3 Internet Protocol (IP) routing as it replicates its functions in software, and eliminates the use of hardware. A virtual router can host multiple routing tables simultaneously as well as multiple routing networks on a single interface. The usage of virtual routers reduces hardware costs as well as multiple configurations for different networks. The rising popularity of such devices is attributed to the device’s traffic route and high network security.

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Based on component, the market is bifurcated into:

• Solution
• Services

On the basis of type, the market is divided into:

• Custom
• Predefined

By end use, the market is categorized into:

• Telecom Providers
• Enterprises
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Cloud Services to Boost the Growth of Virtual Router Industry

The growing popularity of cloud services especially the demand for private clouds. These cloud services are enhancing their operations by the usage of virtual routers, thereby boosting the growth rate of the market. Virtual routers have desirable qualities like increasing network speed, faster acquisition of data, safer storage networks, etc. for cloud services, thus a significant rise in the investment in virtual routers. Moreover, they also reduce CAPEX and OPEX, consequently aiding the growth of the virtual router market.

Key Industry Players in the Global Virtual Router Market

The report gives a detailed analysis of the following key players in the global virtual router market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Nokia Corporation
• Cisco Systems Inc.
• Ericsson AB
• Huawei Technologies Co. Ltd. 
• Juniper Networks Inc.
• IBM Corporation
• Hewlett Packard Enterprises Development LP
• ZTE Corporation 
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report