Due to the rising adoption of internet of things (IoT) and the growing utilization of big data, the valuation of the global software-defined wide area network (SD-WAN) market is predicted to increase from $1.4 billion to $43.0 billion from 2019 to 2030. Further, the market will demonstrate a CAGR of 38.6% between 2020 and 2030.
Big data and IoT help businesses in monitoring the utilization of their products by consumers and gaining valuable insights from the analysis of this information, offering a customized customer experience, and tracking their various operations. Additionally, the adoption of these technologies allows the real-time monitoring of company assets.
As the big data and IoT technologies bring them a host of numerous challenges such as data handling and management, security concerns, data privacy, demand for advanced technical expertise and knowledge, and high implementation costs, the rising integration of these technologies is massively boosting the progress of the SD-WAN market. SD-WAN effectively resolves these issues with the help of risk minimization, centralized management and control, and zero-touch provisioning.
In addition to this, SD-WAN solutions simplify device and network security management, provide deep visibility into network performance, which allows the information technology (IT) professionals to easily detect network problems and security threats, and integrate application filters, firewalls, and unified threat management (UTM) functionality.
The current COVID-19 crisis is severely affecting the progress of the SD-WAN market. This is because businesses operating in various sectors have had to either scale down or shut down their operations because of the lockdown initiated in several countries for controlling the spread of the virus. Because of this reason, companies are incurring huge financial losses and are therefore, reducing their IT spending, including their expenditure on SD-WAN solutions. Moreover, as most of the employees are working remotely (from home), the requirement for advanced networking solutions is very low.
Between the solution and service categories, under the offering segment of the SD-WAN market, the former is expected to register higher revenue growth in the market in the coming years. This is ascribed to the rapidly rising popularity of multi-cloud ecosystems, rising compliance requirements, increasing procurement of connected and IoT devices, and the growing requirement for secured network infrastructure and application optimization. These factors are fueling the adoption of SD-WAN solutions in the BFSI (banking, financial services, and insurance), healthcare, and IT & telecom sectors.
Under the deployment segment, the on-premises category recorded the highest growth in the SD-WAN market in the last few years, mainly because the SD-WAN solutions come with various security concerns. Additionally, the on-premises deployment method helps in the management of large volumes of unstructured data. Moreover, the usage of physical devices is usually preferred for the effective management of network in the corporate sector.
In the future years, the network operations visibility category, based on use case, would exhibit the fastest growth in the SD-WAN market. This is credited to the rising requirement for real-time insights for resolving the issues arising in SD-WAN and making its operation hassle-free.
Historically, under the industry segment of the SD-WAN market, the IT & telecom classification had the highest share, mainly because of its rapid expansion and digitization and the high requirement for a better customer experience in this industry. In addition to this, the rising usage of mobile phones in offices, development and penetration of 5G, increasing adoption of IoT, and mushrooming utilization of big data are boosting the demand for SD-WAN solutions in the industry.
Globally, the North American SD-WAN market is currently the most prosperous one, on account of the presence of several well-established SD-WAN solution providing firms, favorable government policies for 5G adoption, quick integration of various advanced technologies, and the increasing need for simple and hassle-free networking operations in the region.
In the near future, the market will demonstrate the highest CAGR in the Asia-Pacific (APAC) region. This is because of the rising investments being made in the IT sector, increasing implementation of supportive government policies for 5G, rapid digital transformation in enterprises, expanding operations of market players, and the ballooning popularity of cloud computing and connected devices in the region.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary 3.1 Voice of Industry Experts/KOLs
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Offering 220.127.116.11 Solution 18.104.22.168.1 Software 22.214.171.124.2 Appliance 126.96.36.199.2.1 Virtual 188.8.131.52.2.2 Physical 184.108.40.206.2.3 Hybrid 220.127.116.11 Service 18.104.22.168.1 Implementation 22.214.171.124.2 Training and support 126.96.36.199.3 Consulting 4.1.2 By Deployment 188.8.131.52 On-premises 184.108.40.206 Cloud 220.127.116.11 Hybrid 4.1.3 By Use Case 18.104.22.168 Branch connectivity 22.214.171.124 Application control 126.96.36.199 Security 188.8.131.52 Network operations visibility 184.108.40.206 Others 4.1.4 By Industry 220.127.116.11 IT & telecom 18.104.22.168 BFSI 22.214.171.124 Healthcare 126.96.36.199 Government 188.8.131.52 Manufacturing 184.108.40.206 Retail 220.127.116.11 Others 4.2 Value Chain Analysis 4.3 Market Dynamics 4.3.1 Trends 18.104.22.168 WAN optimization as a service 22.214.171.124 Increased managed SD-WAN offerings 126.96.36.199 Rise in hybrid cloud connectivity 4.3.2 Drivers 188.8.131.52 Increasing migration toward cloud-based application 184.108.40.206 Need for cost-effective network management and automation 220.127.116.11 Need for simplified enterprise network architecture 18.104.22.168 Increasing need for network privacy and visibility 22.214.171.124 Growing adoption of IoT and big data 126.96.36.199 Impact analysis of drivers on market forecast 4.3.3 Restraints 188.8.131.52 Concerns regarding secure access to cloud and SaaS 184.108.40.206 Unanticipated execution failure 220.127.116.11 Impact analysis of restraints on market forecast 4.3.4 Opportunities 18.104.22.168 Growing demand for intelligent pathway control 22.214.171.124 Improved data transport independence 4.4 Impact of COVID-19 on SD-WAN Market 4.4.1 Current scenario 4.4.2 COVID-19 scenario 4.4.3 Future scenario 4.5 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast 5.1 By Offering 5.1.1 Solution, by Type 126.96.36.199 Appliance, by type 5.1.2 Service, by Type 5.2 By Deployment 5.3 By Use Case 5.4 By Industry 5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Major Countries 11.1 U.S. SD-WAN Market 11.2 U.K. SD-WAN Market 11.3 Germany SD-WAN Market 11.4 China SD-WAN Market 11.5 India SD-WAN Market
Chapter 12. Competitive Landscape 12.1 List of Players and Their Offerings 12.2 Market Share Analysis of Key Players 12.3 Benchmarking Analysis of Key Players 12.4 Strategic Developments in the Market
Chapter 13. Company Profiles 13.1 Business Overview 13.2 Product and Service Offerings 13.3 Key Financial Summary