Share this article Share this article ResearchAndMarkets.com's offering. The Network Function Virtualization (NFV) Market is expected to reach $122 billion by 2027, growing at a CAGR of 34.9% during the forecast period of 2019 to 2027. The growth of this market is mainly attributed to the growing number of network complexities and ever-increasing demand for cloud-based services, deployment of IoT, security agility, cloud migration, increasing demand for network virtualization and automation, and need for advanced network management system are the key factors driving the growth of the network function virtualization market. However, the growing security issues in NFV and negative impact on the global economy due to COVID-19 pandemic are some of the key restraints for the growth of the network function virtualization market.