Worldwide software-defined wide area network market is presumed to cross US $17 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
According to the report, increasing number of enterprises are implementing SD-WAN solutions for effective network management, thereby accelerating the market growth. Many organizations have multiple remotely offices located, hence adoption of these solutions creates a centralized management system enabling the network administrator to manage and control network assets. It also works as cost-effective substituent for pricey Multiprotocol Label Switching (MLS). These are the major factors which will propel the adoption of SD-WAN solutions in the upcoming years.
The ability of IOT deployments to connect multiple remotely located devices will fuel the demand for software-defined wide area network among the enterprises. It is known that IOT applications require high bandwidth, hence enterprises are implementing SD-WAN solutions for bandwidth optimization. These solutions also offer real-time connection, reliable connectivity, and uninterrupted network services to enterprises.
The solutions segment of SD-WAN market is predicted to continue its dominance with 63% share over the forecast period. While the physical appliances sub-segment is estimated to hold 74% market share, owing to the increasing adoption of these appliances and their ease of deployment, claims the report.
Considering the services segment, SD-WAN market from training & consulting services is presumed to witness a CAGR of more than 64% over the estimated period. The service providers help the customers to deploy, implement, and operate the solutions effectively based on the business objectives and network solution requirement.
Moreover, based on the deployment model, hybrid SD-WAN market is anticipated to register a CAGR of 62% over the forecast timeframe, owing to its ability to offer route selection to direct traffic which improves the performance of business application. The model has great potential in enterprises where security of sensitive data is a major concern.
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Based on the application spectrum, the SD-WAN market from retail & consumer goods application is presumed to witness 60% CAGR over the projected timeline, pertaining to the need of retailers to manage the omnichannel retail operations and to provide enhanced customer experience. The solution enables the retailers to monitor and control remote offices operations.
In terms of regional contribution, North America dominated the global SD-WAN market with 49% share in 2018 and is predicted to continue this dominance over the forecast period. The rapid adoption of bandwidth-intensive, business-critical applications like cloud apps, IOT, and video conferencing by the enterprises in the region will intensify the demand for SD-WAN, owing to its capability of prioritizing network traffic.
Prominent contenders of SD-WAN market profiled in the report include Aryaka Networks, Inc., Berkshire Partners LLC (Masergy Communications), Barracuda Networks, Inc., Citrix Systems, Inc., Cato Networks, Ecessa Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd., CloudGenix Inc., and VMware, Inc., among others.