The software-defined networking (SDN) market is anticipated to witness healthy growth from 2018 to 2030, a research report suggests. Growing at a CAGR of 21.24%, the market is projected to reach US$37.71 billion by 2030. Increase in investments in software-defined networking is expected to support the market growth along with network virtualization decreasing capital expenditure. As predicted by analysts, concerns regarding safety and security will negatively affect the market’s performance from 2018 to 2030. During the forecast period, the market will be supported by the growing urbanization and high demand across industry verticals. The growing threat from cyber-attacks on the other hand will challenge network management sector-based organizations functioning in the Software Defined Networking Market Growth. Analysts have split the market into end-user, application, component, organization size, and solution segments based on products and services. Network management-based companies have been profiled.
The increasing demand for highly skilled professionals is set to affect the global market during the forecast period 2018 to 2030. The report also provides the market’s performance forecasts till 2030. Analysts have studied the strategy of network management segment-based organizations to help new entrants and established businesses. The network management sector itself is supported by increasing awareness levels as well as consumers aiming for more convenience. During the forecast period 2018 to 2030, the software-defined networking (SDN) market is set to witness a health growth across end-user, application, component, organization size, and solution segments as well as regional markets.
The Global Software Defined-Wide Area Network Market has been segmented on the basis of Vertical, Deployment, Component, and Region.
Based on the Component, the SD-WAN market has been bifurcated into appliances and services. The appliances segment accounted for the prime market share of 55% in 2018, and it is expected to register a fast CAGR during the review period. The services segment was likely to grow at the higher CAGR of 47.7% during the forecast period.
The SD-WAN market was segmented into the cloud and the on-premises by deployment. The on-premises SD-WAN segment accounted for the largest market share in 2018, and a CAGR of 53.1 per cent is expected to be recorded during the forecast period. The cloud segment was the second-largest market in 2018 and the highest CAGR is expected to be recorded during the forecast period.
The SD-WAN sector was divided into retail, IT & telecommunications, healthcare, BFSI, manufacturing, and others centered on Vertical. The IT & Telecommunications segment accounted for the largest market share in 2018, and a CAGR of 43 per cent is expected to be recorded over the forecast period.
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The global business regional analysis was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.
North America ‘s market accounted for the largest market share in 2018, and the forecast period is expected to show strong growth. The key drivers for the region’s SD-WAN market growth include advanced network infrastructure and the increasing network virtualization requirement.
The Asia-Pacific Global Software-Defined Wide Area Network Market is projected to expand over the forecast period with the highest CAGR of 50.0 per cent. Asia-Pacific was divided into China, Japan, India, South East Asia and the rest of the Asia-Pacific zone for study. This rise can also be attributed to the emergence of creative and technologically active players and the expansion of their market scope in the region by global players. Other key industry players in this market are also expanding on the Asia-Pacific market through collaboration with providers of SDN and SD-WAN solutions. The Middle East and Africa is gaining impetus, majorly owing to the provisioning of network services for utilization with more efficiency.
Drivers and Restraints
That the adoption of private cloud and growing software-defined data centers are key factors driving the growth of the software-defined wide area network industry. Additionally, MRFR analysis notes that IoT and smart technology are expected to continue to grow to accelerate the adoption of private cloud computing services.
The coronavirus outbreak (Covid-19) has purchased a difficult time for the entire world and people are struggling with the health, societal, and economic impact of the COVID-19 pandemic. In the global uncertainty, some players in the cloud and other innovations profit from the phenomenon and as technology buyers secure a long-term gain to see the advantages for their platforms.
The major market players operating in the global market as identified by MRFR are VMware, Inc., Versa Networks, Cloudgenix, Inc., Nuage Networks, CenturyLink, Inc., Cisco Systems, Inc., Oracle Corporation, Silver Peak Systems, Inc., Aryaka Networks India Pvt Ltd, Ecessa Corporation, Riverbed Technology, Cato Network, Forcepoint, Systems Inc.,and Untangle Inc. Citrix
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Software Defined Networking Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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