Software-Defined Wide Area Network Market Witnessing High Growth by 2026
Posted by Akshay Solanki on February 8th, 2021
Global Software-Defined Wide Area Network (SD-WAN) Market generated a revenue of USD 2,156.1 Million in 2019 and is expected to reach a market value of USD 19,093.2 Million by 2026, growing at 38.5% CAGR during the forecast period.
Global Software-Defined Wide Area Network (SD-WAN) Market is expected to witness substantial growth during the study period, primarily due to the rise in software-defined data centers.
The geographic analysis of the software-defined wide area network (SD-WAN) market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America accounted for the largest market share of 60.2% in 2019, with a market value of USD 1,297.5 million; the market is expected to register a CAGR of 37.5% during the forecast period. The market growth is driven by factors such as the rising need for network virtualization. Additionally, the telecom providers operating in the region invest in advanced networking technologies to expand their infrastructure capabilities.
Europe was the second-largest market in 2019, valued at USD 462.5 million; the market is projected to exhibit a CAGR of 39.2%. The European market for SD-WAN was driven by a surge in data traffic, the advent of 5G, the growing number of cloud-based data centers, employee mobility, and the increasing adoption of IoT technologies.
The global software-defined wide area network (SD-WAN) market has been segmented based on component, deployment, vertical, and region.
By component, the software-defined wide area network (SD-WAN) market has been divided into appliances and services. The appliances segmented includes physical and virtual sub-segments. The physical appliances segment comprises routers, access points, switches, gateways, and cables. The virtual appliances include CSP, web portal, and the Internet.
By deployment, the software-defined wide area network (SD-WAN) market is segmented into on-premise and cloud.
Based on vertical, the software-defined wide area network (SD-WAN) market is segmented into IT & telecommunication, BFSI, manufacturing, healthcare, and retail. The IT & telecommunication segment accounted for the largest market share of 48.4% in 2019, with a market value of USD 1,042.9 million; it is expected to register a CAGR of 36.8% during the forecast period. The others segment was the second-largest market in 2019, valued at USD 367.2 million; it is projected to exhibit a CAGR of 36.7%. However, the retail segment is expected to register the highest CAGR of 43.7%.
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The key players of the global Software-defined wide area network (SD-WAN) market are Versa Networks, Inc., VMware, Inc, Palo Alto Networks, Inc., Nokia (Nuage Networks is a Nokia venture), Cisco Systems, Inc., Oracle, CENTURYLINK, Silver Peak Systems, Inc., Ecessa, ARYAKA NETWORKS, INC., Riverbed Technology, Cato Networks, Citrix Systems, Inc., Forcepoint, and Untangle.
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About the AuthorAkshay Solanki
Joined: December 29th, 2020
Articles Posted: 475
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