Market Highlights
Virtual Router Market Growth was valued at USD 0.30 billion in 2022. The Virtual Router market industry is projected to grow from USD 0.36 Billion in 2023 to USD 1.58 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.35%during the forecast period (2023 – 2032)
A virtual router is a type of software-based router that allows a device, such as a laptop or desktop computer, to function as a router, enabling other devices to connect to the internet through it. Virtual routers are commonly used for creating Wi-Fi hotspots, allowing multiple devices to connect to the internet through a single internet-connected device. Some popular virtual router software includes Virtual Router Manager and Connectify. Additionally, some virtual routers are used in larger networking contexts, such as in cloud-based virtual networks or in virtual routing and forwarding (VRF) systems in enterprise networks.
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Key Players
The prominent players in the virtual router Market are IBM Corporation (US), Cisco Systems (US), Ericsson Inc. (US), Huawei Technologies Co., Ltd. (US), Nokia Corporation (Finland), Juniper Networks Inc. (US), netElastic Systems Inc. (US), Brocade Communications Systems (US), Hewlett Packard Enterprise Company (US), Arista Networks Inc. (US), ZTE Corporation (China), Carbyne (Israel), Palo Alto Networks (US), Check Point Software Technologies (Israel), Ross Video (Canada), Inventum (India), DriveNets (Israel), 128 Technology Inc. (US), TRENDnet Inc. (US), Belkin International Inc. (US), TIME dotCom Berhad (Malaysia), ACCESS (Japan), Allied Telesis Inc. (Japan), Connectify Inc. (US), and 6WIND S.A. (France).
These routers can also be deployed as Broadband Network Gateways (BNGs) and Layer 2 Tunneling Protocol (L2TP) network servers. Virtual routers running on Windows 7, Windows 8 or Windows Server 2008 R2 allows the users to wirelessly share internet connection such as WiFi, LAN, cable modem, dial-up, and cellular with any WiFi device such as laptop, smarphone, notebook, and wireless printer.
Brocade Communications Systems Inc., an American technology company and a subsidary of Broadcom Inc., offers Vyatta vRouter for the Amazon Web Services (AWS) GovCloud. The Vyatta vRouter is a secure virtual router that allows AWS GovCloud to connect with another public or private cloud. The vRouter also has advanced user-controlled functionalities and can extend the VPN tunnels provided by AWS.
Regional Analysis
The global market for virtual router is estimated to grow at a significant rate during the forecast period from 2020 to 2027. The geographical analysis of virtual router market is studied for North America, Europe, Asia-Pacific, and the rest of the world. Among these, North America is the highest revenue generator in the virtual router market due to increasing adoption of virtual routers in various industries such as BFSI, IT & telecommunication, healthcare, and government entities. The presence of key market players in countries such as the US, Canada, and Mexico also drive the market growth in this region.
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The market also leverages growth from various cloud service providers in North America adopting virtual routers to enhance their routing and networking capabilities. Asia-Pacific is expected to be the fastest growing region in the virtual router market due to growing penetration of virtual routers in countries such as China, India, Japan, and Singapore.
Carriers and enterprises in the Asia-Pacific regions are embracing virtual routing options as network function virtualization becomes a norm in this region. Increasing adoption of virtual routers in the European countries such as Germany, the UK, France, Spain, and Italy is triggering the market growth in the European region.
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