Need of NFV
With the help of NFV, it becomes possible to separate communication services from specialized hardware like routers and firewalls. This eliminates the need for buying new hardware and network operations can offer new services on demand. With this, it is possible to deploy network components in a matter of hours as opposed to months as with conventional networking. Furthermore, the virtualized services can run on less expensive generic servers.
Network Functions Virtualization
The term “Network Functions Virtualization” (NFV) refers to the use of virtual machines in place of physical network appliances. There is a requirement for a hypervisor to operate networking software and procedures like load balancing and routing by virtual computers. A network functions virtualization standard was first proposed at the OpenFlow World Congress in 2012 by the European Telecommunications Standards Institute (ETSI), a group of service providers that includes AT&T, China Mobile, BT Group, Deutsche Telekom, and many more.