According to a new report Global Software-Defined Wide Area Network (SD-WAN) Market, published by KBV research, The Global Software-Defined Wide Area Network (SD-WAN) Market size is expected to reach $9.8 billion by 2026, rising at a market growth of 33.8% CAGR during the forecast period. The main growth drivers for the growth of the market include the surge in mobile data traffic, a growing number of cloud-based solutions increasing demand for mobility services, and the shifting focus of enterprises on enterprises’ focus on reducing Operational Expenditure (OPEX) with the use of SD-WAN.
The cloud segment is expected to have constituted a larger market size in the coming years during the forecast period and will show. The cloud segment is expected to witness high demand, due to its varied range of functionalities, like high higher flexibility, lower cost, and, faster service, lower cost.
Based on Component, the services segment is expected to grow at a higher CAGR in the coming years. The growing adoption of SD-WAN solutions with the associated services is also likely to increase among enterprises. The service segment has the main influence on the market of SD-WAN. In the SD-WAN market, the software segment is likely to have higher growth in the coming years. With the advancement in technology, the network of end-user is more focused on software models.
Large enterprises contribute to larger market size in the coming years. Large enterprises generate a large amount of data they need to have the expertise of IT staff who can manage specific applications and the company’s IT infrastructure.
In the SD-WAN market, the service providers segment based on end-user is likely to grow at a higher CAGR in the coming years. Presently, the SD-WAN market is evolving and likely to grow rapidly in foreseeable time. Currently, service providers are preferring to have a partnership with SD-WAN vendors to deliver SD-WAN as a managed and organized service to the enterprises.
North America is anticipated to have the largest market size in the market of global SD-WAN in the forecast period. The US has developed as the largest country in terms of SD-WAN market size, as they implemented SD-WAN solutions to the large-scale by verticals and service providers in the country. APAC is expected to show the highest growth rate. Large scale investments to have infrastructure modernization as well as increasing preferences for automation technologies like artificial intelligence (AI) and the Internet of Things (IoT).
Structural Insights: https://www.kbvresearch.com/software-defined-wide-area-network-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Oracle Corporation, Cisco Systems, Inc., Dell Technologies, Inc. (VMware, Inc.), Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Nokia Corporation, Hewlett Packard Enterprise Company, Fortinet, Inc., NEC Corporation, Juniper Networks, Inc. and Citrix Systems, Inc.
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