What is NFV? These are virtualised Carrier/SP services that have historically run on dedicated, proprietary hardware in the field. A great example is an LTE Base-station controller or an MPLS Provider Edge router, where rather than buying the dedicated hardware appliance from the vendor, you buy the licence for the Virtual Appliance (NFV certified for use with vSphere) and deploy it in a vSphere cluster instead; which is much more efficient when you combine multiple NFV services in the same vSphere cluster.
In a nutshell:
- Multi-tenancy and VNF resource reservation
- Dynamic Resource Scaling
- Advanced Networking
- More information here: VMware Telco NFV Blog – Production Ready OpenStack Cloud, obviously, VIO-CE Press Release, VMware Solution Exchange NFV partners.