April 23, 2020
According to the research report titled ‘Software-Defined Wide Area Network (SD-WAN) Market Size By Component, By Deployment Model, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global software-defined wide area network (SD-WAN) market is expected to exceed USD 17 billion by the year 2025.
Increasing utilization of SD-WAN solutions in order to simplify network management is a major factor driving the market growth. The solution allows network administrators to have a broad control over their respective network. Software-defined wide area network is extensively used by enterprises which possess remote offices to offer centralized management to maintain the network assets remotely and to save costs.
There has been an upsurge in adoption of IoT among enterprises since it allows multiple connections to remote devices in real-time. Increasing number of connected endpoints have impelled the demand for software-defined wide area network in order to ensure high network connectivity and service reliability.
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As per the component type, solutions segment is predicted to account for 63% market share by the year 2025, in which the physical appliances held 74% share in 2018. Shifting preference for physical appliance solutions for deploying SD-WAN is fueling the segmental growth. These devices are not only easy to install but also do not require additional expertise during implementation.
By deployment model type, hybrid segment is presumed to expand with a CAGR of 62% during 2019-2025. This deployment model is widely used among organizations that focus on the security of their respective data. Hybrid SD-WAN offers better efficiency during route selection and enhances business application performance.
Based on the application spectrum, retail & consumer goods segment is poised to witness a growth rate of 60% through 2025. Rising utilization of IoT and digitalized platforms have increased the difficulties in managing omnichannel environments, which in turn is fostering the adoption of SD-WAN solutions.
Considering the geographical landscape, the report states that North America held 49% market share in 2018 and is expected to showcase similar growth by 2025. Growing integration of bandwidth-intensive and business-centric applications such as IoT, video conferencing and cloud apps is augmenting the regional demand for SD-WAN solutions.
Major players operating in software-defined wide area network market are ZTE Corp., VMware INC., Versa Networks, Silver Peak, Riverbed Technology Inc. and Peplink among others.
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