Network Virtualization is a technology that allows multiple virtual networks to operate on a single physical network infrastructure. This means that different users or applications can have their own isolated network environments, even though they share the same hardware resources. It enhances flexibility and efficiency, making it easier to manage and scale networks. By using virtualization techniques, organizations can quickly deploy new services and applications without needing additional physical hardware. This reduces costs and simplifies network management, as administrators can easily configure and monitor virtual networks through software, rather than dealing with complex physical setups.