The global network functions virtualization market size was estimated at USD 19.95 billion in 2021 and is projected to reach USD 167.03 billion by 2030, growing at a CAGR of 26.9% from 2022 to 2030. The growing need for an efficient and cost-effective network management system, rising adoption of telecom equipment and services across commercial and data center applications, the ever-increasing pace of network automation & virtualization technology adoption, and the server virtualization, cloud services, and growing data center consolidation is significantly contributing to the growth.
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