Global Software Defined WAN Market Overview
A software-defined wide area network refers to a networking service used in network management services via low-level functionality. It permits organizations to build virtual networks and offer micro-segmentation and services. A software-defined WAN also aids enterprises in their connection management between internal and external cloud services.
Some of the primary factors leading to the growth of software-defined WAN are the proliferated adoption of private cloud technology, an increasing number of software-defined data centers, and the lucrative demand for security features in network services. Other factors influencing robust growth in the software-defined WAN market include the cost-effective usage of public and private networks, optimizable hybrid cloud connectivity, and application-aware routing. The report published by MRFR states that the software-defined WAN market is likely to witness a whopping 50% CAGR during the forecast period.
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In contrast, the global software defined WAN market is likely to face some hindrance in growth due to various factors. Bandwidth provisioning and the uncalculated risk of execution and expenses are some of the factors hindering the growth of the market. Further, security concerns with the cloud and SaaS are likely to pose as hindrances in the market growth. With a consistent increase in devices connected to the global network, the bandwidth may experience high load, resulting in slower data speed and poor performance, hence restraining the market growth.
Key Players
Some of the major players in Global Software Defined Wide Area Network Market includes Cisco Systems (U.S.), VeloCloud Inc. (U.S.), Versa Networks (U.S.), Cloudgenix Inc. (U.S.), CenturyLink, Inc. (U.S.), Silver Peak (U.S.), Talari Networks (U.S.), Viptela (), Nuage Networks (U.S.), and Ecessa Corporation (U.S.) among others.
Market Segmentation
The global software defined WAN market is segmented on the basis of component, end-users, and deployment. By component, the global software defined WAN market is segmented into physical appliance, virtual appliance, hardware, software, and hybrid. The software segment is anticipated to garner the highest growth during the forecast period owing to the higher scalability, flexibility, and agility in the network provided by the software-based solutions.
On the basis of deployment, the market is segmented into on-premise and on-cloud. By the end-user, the global software defined WAN market is segmented into manufacturing, BFSI, IT, retail, and healthcare. The IT segment is estimated to be the biggest user of software-defined WAN solutions during the forecast period owing to a higher demand for high-performance applications and greater bandwidth.
Detailed Regional Analysis
The global software defined WAN market is segmented into North America, Asia Pacific, Europe, and Rest of the World. North America is estimated to spearhead the global software defined WAN market owing to the high demand for network architecture and the growing need for central networking. Further, the U.S. is likely to emerge as the biggest country-specific market in the region because of the large-scale implementation of SD-WAN solutions. Europe is projected to follow North America and hold the second largest share of the software-defined WAN market during the forecast period. Asia Pacific is assessed to showcase the largest CAGR during the forecast period owing to the growing investment from major market players in the region.
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