Amdocs ( DOX Quick Quote DOX - Free Report) recently announced that its service and network automation platform for Network Functions Virtualization (NFV) and cloud orchestration has been implemented by the Philippines’ telecommunications provider, Globe Telecom. With this partnership, Amdocs will help Globe Telecom bring NFV to the Philippines for the first time. Notably, businesses require high speed and flexibility to implement new network offerings and cloud services and deliver a strong digital experience to their clients. The partnership will allow Globe Telecom to offer the aforementioned speed and agility as well as various virtualized network services along with strong security, real-time network visibility and control. Markedly, Amdocs’ NFV area is witnessing positive developments, which will ultimately fuel growth. Moreover, the number of global service providers evaluating NFV is also on the rise.
Amdocs’ impressive roster of partners and clients also testifies its stronghold in the NFV space. The company has a partnership with
Comcast ( CMCSA Quick Quote CMCSA - Free Report) for the latter’s SD-WAN offering, which leverages the former’s leading energy portfolio, bringing orchestration, fulfillment and automation capabilities to service providers. Moreover, it has previously partnered with Samsung to speed up the delivery of 5G services to the market. The companies worked together to onboard and integrate Virtual Network Functions (VNFs), thereby allowing CSPs to leverage Samsung’s 5G network solutions with the Open Network Automation Platform (ONAP). Furthermore, Amdocs and Samsung delivered services such as vRAN deployment and integration, and related NFV solutions. The COVID-19 pandemic has led to supply-chain disruptions and a delay in the release of 5G specifications, which adversely impacted the global NFV market in 2020. However, several businesses are extensively driven to bring the NFV market back on track. Moreover, with help from local governments, companies are succeeding in mitigating the negative impact of COVID-19. As a result, the NFV market is expected to regain its pace soon. Meticulous Research projects the NFV market to reach $122 billion by 2027, witnessing a CAGR of 34.9% during the period of 2020-2027. Rising Competition: A Concern Companies operating in the NFV market are following product development strategies to meet the need of customers. Some of the key players competing with Amdocs in the NFV market are Huawei, Broadcom ( AVGO Quick Quote AVGO - Free Report) , Ericsson, Juniper, AT&T, Nokia and F5 Networks ( FFIV Quick Quote FFIV - Free Report) . Notably, AT&T reported a 700% surge in demand for its Virtual Private Network (VPN) offering during the first few weeks of the pandemic-induced lockdown, as more and more Americans began working from home. Nonetheless, Amdocs’ constant efforts to enhance capabilities on this front are expected to help it strengthen foothold in the NFV market. Amdocs currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Names “Single Best Pick to Double” From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year. Free: See Our Top Stock and 4 Runners Up >>