Software-Defined Wide Area Network (SD-WAN) Global Market Report 2022: Increasing Number of Cloud-Based Solutions to Drive Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 15, 2022--
The “Software-Defined Wide Area Network (SD-WAN) Market by Component (Solutions and Services), Deployment Mode (On-Premises and Cloud), Organization Size, End User (Service Providers and Verticals) and Region - Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global SD-WAN market is projected to grow from USD 3.4 billion in 2022 to USD 13.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 31.9% during the forecast period. The digital transformation across businesses is driving the SD-WAN market growth.
Services segment is estimated to account for a higher CAGR during the forecast period.
The adoption of SD-WAN services is expected to increase among service providers and enterprises with the increasing adoption of SD-WAN solutions. The SD-WAN market has been segmented based on services: consulting, implementation, training, and support. These services assist end users in reducing costs, lowering operational costs, increasing overall revenues, and improving business performance.
The cloud segment is expected to account for a larger market share during the forecast period.
The benefits of the cloud deployment mode include flexibility, scalability, affordability, operational efficiency, and low-cost. However, certain concerns, such as the lack of control over applications, and privacy related to the enterprise data, need to be worked on. An SD-WAN enables cloud-first organizations to provide a superior application quality of experience (QoEx) for users. By detecting applications, an SD-WAN offers intelligent application-concerned routing across the WAN.
Based on verticals, banking, financial services and insurance vertical to account for the largest market share during the forecast period.
The BFSI sector in remote and small financial service branches can now provide the best customer service due to the flexibility and agility of SD-WAN technologies. Overcoming the challenges and costs of building a new structure and providing IT support, SD-WAN can activate any number of remote branches with centralized IT support moving banking services everywhere around the country by providing bank services such as ATMs, including the remote regions.
Among regions, Asia Pacific recorded the highest CAGR during the forecast period.
Asia Pacific constitutes thriving economies, such as India, Australia, and Japan that are taking several initiatives to implement SD-WAN solutions. New opportunities, startups, and established enterprises are helping businesses to overcome networking and complex connectivity challenges. Asia Pacific houses many large countries with a wide population spread over remote locations and wide geographical areas. The data exchange contributes to the cloud traffic that comprises around 50 percent of WAN traffic. Because of the growth in the number of internet users, plus the shift to the cloud in Asia Pacific’s geography, the potential for SD-WAN is huge.
- Increasing Number of Cloud-Based Solutions
- Rising Need for Mobility Services
- Enterprises’ Focus on Reducing Opex with SD-WAN
- Reliability Issues in SD-WAN
- Digital Transformation Across Organizations
- Increasing Network Traffic
- Concerns Over SD-WAN Security
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 SD-WAN Market, by Component
7 SD-WAN Market, by Deployment Mode
8 SD-WAN Market, by Organization Size
9 SD-WAN Market, by End-user
10 SD-WAN Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent/Related Markets
- Bigleaf Networks
- Cato Networks
- Colt Technology Services
- Epsilon Telecommunications
- Extreme Networks
- Fatpipe Networks
- Hewlett Packard Enterprise
- Juniper Networks
- Lavelle Networks
- Martello Technologies
- MCM Telecom
- NEC Corporation
- Nour Global
- Palo Alto Networks
- Riverbed Technology
- Tata Communications
For more information about this report visit https://www.researchandmarkets.com/r/kumcj5
View source version on businesswire.com:https://www.businesswire.com/news/home/20221215005846/en/
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INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/15/2022 11:31 AM/DISC: 12/15/2022 11:32 AM