Overview:
The software-defined wide-area network (SD-WAN) market is all set to surpass a projected valuation of USD 20,314 billion by 2030 while maintaining a CAGR of 36.9% during the forecast period of 2020-2030. Market Research Future (MRFR) reported factors like the rising demand for secured operation, better workflow, operations from a remote location, investment in research and development, and others as major traction provider for the software-defined wide-area network market.
Segmentation:
The global Software Defined Wide Area Network Industry was studied by MRFR analysts based on component, deployment, and vertical.
By component, the software-defined wide-area network industry has segments like appliances and services. The appliances segment covered around 55% of the global market in 2018 and is showing the potential of registering an impressive CAGR of around 47.7% during the forecast period. The appliances segment includes physical and virtual. The physical appliances segment includes a discussion of routers, access points, switches, gateways, and cables are used to connect two or more networks. The services segment includes a study of professional services and managed services. The managed services have a discussion of segments like processing & management, security, data acquisition, testing, administration and content support, positioning & automation, and among others.
By deployment, the SD-WAN market includes a discussion of cloud and on-premise. The on-premise segment had the largest market share in 2018 and is showing a chance to register a CAGR of 53.1% during the forecast period. The cloud segment is slated to record the highest CAGR during the forecast period.
By vertical, the global market report on the SD-WAN market includes a study of IT & telecommunication, retail, BFSI, manufacturing, healthcare, and others. The IT & telecommunication segment had the largest market in 2018 and has the chance to attain a CAGR of 43% during the forecast period. The retail segment will outpace others in terms of growth.
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Regional Analysis:
The rising demand for virtualization is set to inspire better market integration in the North American region. The region had the rein in 2018 and is set to continue its momentum in the coming years.
Competitive Landscape:
Cloudgenix, Inc., Versa Networks, VMware, Inc., Oracle Corporation, Nuage Networks, Cisco Systems, Inc., Ecessa Corporation, CenturyLink, Inc., Silver Peak Systems, Inc., Cato Network, Forcepoint, Citrix Systems Inc., Aryaka Networks India Pvt Ltd, Riverbed Technology, and Untangle Inc. are companies initiating changes in the global software-defined wide area network market.
Industry News:
The global IT industry is witnessing a steep rise in the integration of a software-defined wide-area network (SD-WAN), which will bolster the market growth. This is happening more due to the ever-increasing interest in managed and co-managed offerings that are aimed at navigating complexities of the integrated network and security system. Along with the SD-WAN, increasing deployment of the secure access service edge (SASE) systems are emerging as the new necessity that could help achieve secured remote access and increase the reliability of cloud applications. In Australia, the market is getting better backing as several companies are showing interest in incorporating the system to make the most of the work-from-home conditions.
In August 2020, Bayer announced that the company is seeking assistance from Verizone to develop global network infrastructure. This service will include a managed private IP network and managed software-defined wide-area network, among many things. The company is planning to set up an infrastructure that will back its attempt to integrate cloud technology and support remote working facilities.
As a countermeasure to the COVID-19 crisis, the software-defined wide-area network is emerging as a robust solution that could help maintain the exposed structures of companies. This will give the segment some solid backing. Companies have also realized the future possibilities, owing to which the adoption rate of the software-defined wide-area network would grow higher.
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