MarketsandMarkets forecasts the global Software-Defined Wide Area Network (SD-WAN) Market size to grow from USD 1.0 billion in 2018 to USD 4.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 32.7% during the forecast period. Major factor expected to drive the growth of the SD-WAN market is the increasing number of cloud-based solutions. The increasing number of cloud based applications also increases traffic in the network, and SD-WAN provides better cloud connectivity than MPLS does. As a result, enterprises are expected to opt for SD-WAN. Enterprises’ focus on reducing OPEX using SD-WAN also plays a key role in driving the SD-WAN market, as the deployment of SD-WAN enables network operators to save capital and reduce OPEX.
Under the end-user segment, the service providers segment is expected to grow at a higher growth rate during the forecast period. The SD-WAN solutions allow the service providers to deliver a comprehensive, cost-effective managed SD-WAN service that includes key managed service capabilities, such as multi-tenancy, multi-service, elasticity, and zero-touch provisioning.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=53110642
Healthcare under enterprise segment is expected to hold the largest market size during the forecast period and is further expected to witness a higher growth rate, due to increasing digital transformation practices across healthcare, such as cloud, big data and analytics for management of electronic health records and healthcare information management.
The SD-WAN market has been witnessing tremendous growth in countries such as the US and Canada. North America is estimated to hold the largest market size in 2018, due to the presence of large Communication Service Providers (CSPs), such as AT&T, Verizon, and Sprint, offering managed SD-WAN service to enterprises. Regional players have started investing in SD-WAN, due to an increasing need to transform from MPLS to a less expensive solution which helps them connect businesses to public cloud and provide a uniform private networking throughout the operations.
Digital transformation across organizations has created many opportunities for SD-WAN market, with the implantation of SD-WAN, networks become easier to operate, manage, and maintain. SD-WAN plays a key role in the digital transformation not only by saving cost on network infrastructure, but by improving the performance of the applications. Being able to use multiple links for data transmission, SD-WAN increases application performance over the WAN infrastructure.
Speak to Our Expert Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=53110642
The key and emerging market players include Cisco (US), VMware (US), Silver Peak (US), Aryaka Networks (US), Nokia (Finland), Oracle (US), Huawei (China), Infovista (France), Citrix (US), Juniper (US), Fortinet (US), HPE (US), Fatpipe (US), Riverbed (US), CloudGenix (US), Versa Networks (US), Adaptiv Networks (Canada), Peplink (US), Lavelle Networks (India), Martello Technologies (Canada), Mushroom Networks (US), Zenlayer (US), and Bigleaf Networks. These players have adopted various strategies to grow in the global SD-WAN market.
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Address:630 Dundee Road Suite 430
Country: United States