According to a new market research report published by Credence Research, “SD-WAN (Software-Defined Wide Area Network) Market (By Component – Virtual Appliance, Physical Appliance, and Hybrid Appliance), (By Deployment Type- On-premise and Cloud-based), (By Service- Managed and Professional), (By End-use- BFSI, Telecommunication & IT, Government, Healthcare, Retail and Others (Oil & Gas, Transportation, etc.))– Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall SD-WAN (software-defined wide area network) market worldwide was valued at US$ 1.24 Bn in 2018 and is set to grow with a CAGR of 36.4% during the forecast period.
Growing IT industry and growing cloud-based solutions worldwide are the major factors for the growth of SD-WAN market. Increased traffic of mobile data and the growing adoption of mobility services are some of the other factors driving the market growth. Organizations are focusing on reducing OPEX with the adoption of SD-Wan will also boost the market. Growing digitization worldwide will be one of the major factor responsible for market growth in years to come. SD-WAN controls and manages the hardware devices working in the network and also helps the enterprises to configure their network. SD-WAN also helps in bandwidth improvement according to the requirements of cloud-based technology. As a result of the aforementioned drivers and market growth factors, we expect that the SD-WAN market will grow tremendously in years to come.
Based on end-use, the BFSI segment was dominant in 2018 in the SD-WAN market. The segment contributed to nearly 25% of the market revenue share in 2018. The BFSI segment was dominant in 2018 due to adoption of SD-WAN in the industry. The rapid growth of BFSI segment and rapid digitization in the sector worldwide are another factors driving the segment growth. Telecommunication and IT segment follow the BFSI segment in the SD-WAN market owing to growing Telecommunication and IT industry worldwide. Increased investments in the Asia Pacific region for the growth of Telecommunication and IT industry will also boost the growth of the segment.
Based on geography, North America was the highest value contributor in 2018 with market revenue share of nearly 40% in the same year. Growing adoption of SD-WAN solutions, established BFSI sector and growing investments by venture capitalists for the growth of SD-WAN are some of the major factors for the dominance of the North America region. On the contrary, the Asia Pacific region will grow tremendously throughout the forecast period on account of rising BFSI sector, increasing cloud-based solutions and growing adoption of SD-WAN in the region. Expansion of major countries such as India and China is another factor for the growth of SD-WAN market in the region.
Some of the major companies profiled in the report include Silver Peak, Inc., Cloudgenix Inc., Nuage Networks, Talari Networks, Inc., VeloCloud Networks, Inc., Fatpipe Networks Inc., Versa Networks, Inc., Viptela, Inc., Riverbed Technology, Inc., and Citrix Systems, Inc. among others.
Browse the full report at https://www.credenceresearch.com/report/software-defined-wide-area-network-market
The Global SD-WAN (Software-Defined Wide Area Network) Market is Segmented into:
|Segmentation||By Component (2017–2027; US$ Bn)|
|By Deployment Type (2017–2027; US$ Bn)|
|By Service (2017–2027; US$ Bn)|
|By End-use (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on the report page