SELBYVILLE, Del., May 19, 2020 /PRNewswire/ -- According to the latest report "SD-WAN Market by Component (Solution, Service), Deployment Model (On-premise, Cloud, Hybrid), Application (IT & Telecom, BFSI, Healthcare, Retail & Consumer Goods, Government, Manufacturing), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of software-defined wide area network (SD-WAN) will cross $30 billion by 2026. The growing demand to enhance network management capabilities and simplify the wide-area network infrastructure across enterprises is anticipated to contribute significantly to the market growth.
The growing demand to reduce capital & operating expenses related to the management of network infrastructure is supporting the SD-WAN market growth. Traditional WAN networks relied on expensive hardware appliances to provide connectivity to remote locations, which led to an increase in operational costs. Thus, the implementation of SD-WAN solutions enables organizations to simplify their network infrastructure and reduce costs. With cloud-enabled connectivity, SD-WAN technology is redefining traditional WAN models.
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The virtual appliance segment in the SD-WAN market is expected to grow at a CAGR of over 73% from 2020 to 2026. As enterprises are focusing on the transformation of their network infrastructure, virtual appliances are helping these enterprises in faster deployment and easy implementation of advanced network infrastructure. Virtual appliances reduce the capital expenditure and operational expense of enterprises required for managing enterprise network infrastructure. The companies are deploying virtual appliances to meet the rising demand for business-critical applications and workforce mobility.
The hybrid cloud deployment in the SD-WAN market is expected to grow rapidly over the coming years as it enables organizations to deploy on-premise cloud to host critical workloads. Hybrid cloud architecture combines the functionalities of both private & public cloud architecture, thus acting as a viable option for enterprises that want to leverage both. The hybrid architecture holds a great potential for organizations that are concerned about the security of their sensitive data. Organizations are deploying hybrid WAN to take advantage of its efficiencies in route selection and to improve business performance by allowing path selection for traffic movement.
The manufacturing sector is anticipated to witness a growth rate of over 60% during the forecast timeline due to the growing adoption of IoT devices across production facilities. The SD-WAN solution helps manufacturing companies to remain competitive by improving connectivity across remote locations. Organizations are deploying SD-WAN solutions to provide optimized network connectivity to extensive machines and connected devices. Due to advancements across the manufacturing industry, manufacturing companies are deploying advanced network solutions to conduct network traffic prioritization and simplify network management.
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The Europe SD-WAN market is predicted to observe over 60% gains through 2026. Huge private & government investments to foster IoT adoption will also accelerate market growth. For instance, in June 2018, the U.K. government planned to invest USD 75 million as an additional fund to boost the development of IoT technologies. Various ongoing public & private investments in future-ready 5G networks and broadband infrastructure across the region are expected to drive the market growth.
Some major findings of the SD-WAN market report include:
- The growing need to improve application performance and reduce IT expenditure across enterprises is contributing to the development of SD-WAN technology.
- The rapid proliferation of IoT devices across enterprises due to growing Bring-Your-Own-Device (BYOD) is driving the demand for SD-WAN solutions.
- Major players operating in the SD-WAN market are Cisco Systems, Citrix Systems, Inc., Huawei Technologies Co., Ltd., Nuage Networks, Inc., and Oracle Corporation.
- Companies operating in the market are focusing on strategic partnerships for the development of advanced SD-WAN solutions.
Table of Contents (ToC) of the report:
Chapter 3. Software-Defined Wide Area Network (SD-WAN) Market Insights
3.2. Industry segmentation
3.3. Industry landscape, 2015 - 2026
3.4. Impact of COVID-19 outbreak
3.4.1. Impact by region
126.96.36.199. North America
188.8.131.52. Asia Pacific
184.108.40.206. Latin America
220.127.116.11. Middle East & Africa
3.4.2. Impact on industry value chain
3.4.3. Impact on competitive landscape
3.5. SD-WAN ecosystem analysis
3.5.1. Hardware component providers
3.5.2. Network service providers
3.5.3. Communication service providers
3.5.4. Managed service providers
3.5.5. System integrators
3.5.7. End users
3.6. SD-WAN architecture
3.7. Architecture approaches for SD-WAN
3.8. SD-WAN technology evolution
3.9. SD-WAN VS Traditional WAN
3.10. Technology & innovation landscape
3.10.1. Network virtualization
3.10.2. AI and machine learning
3.11. Regulatory landscape
3.11.1. MEF 3.0 SD-WAN Service Attributes and Service Definition Standard
3.11.2. The National Institute of Standards and Technology (NIST), U.S.
3.11.3. European Telecommunications Standards Institute (ETSI) GS NFV -IFA 008
3.11.4. The Open Compute Project and OPNFV
3.11.5. ISO/IEC 270001
3.11.6. IEEE SDN/NFV Standardization
3.12. Industry impact forces
3.12.1. Growth drivers
3.12.2. Industry Pitfalls and Challenges
3.13. Porter's Analysis
3.13.1. Threat of new entrants
3.13.2. Threat of substitutes
3.13.3. Bargaining power of buyer
3.13.4. Bargaining power of supplier
3.13.5. Industry rivalry
3.14. PESTEL analysis
3.15. Growth potential analysis
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Global Software-Defined Wide Area Network (SD-WAN) Market revenue $30bn by 2026: GMI
The Europe SD-WAN market is predicted to observe over 60% gains through 2026. Huge private & government investments to foster IoT adoption will also accelerate market growth.
SOURCE Global Market Insights, Inc.