LONDON, April 24, 2017 /PRNewswire/ -- "Growing demand for Software-Defined Wide Area Network (SD-WAN) applications, strategic business processes, and the need for connected devices are driving the SD-WAN market"
The SD-WAN market is driven by factors, such as increasing need for mobility services, reduced operating expenditures, and the need for simplified network architecture. However, the SD-WAN market lacks in security standards, such as lack of network synchronization and security administration at every level of the network. The SD-WAN market size is estimated to grow from USD 738.9 million in 2016 to USD 9,066.2 million by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 65.11% during the forecast period.
A deeper understanding on the report: https://www.reportbuyer.com/product/4523632/
"Managed services segment is expected to have the largest market share during the forecast period"
Managed services provide a combination of SDN-WAN and SD-WAN solutions to end-users, by reducing the operational cost and making it more flexible. WAN-based services, such as monitoring and managing real-time traffic are enabled by managed services on deployed network conditions. It further helps in optimizing resources by better planning and facilitating them.
"North America is expected to have the largest share of the market, whereas Asia-Pacific (APAC) is projected with the highest growth rate"
North America is expected to hold the largest market share in 2016, while APAC is the fastest growing, in terms of CAGR. Factors, such as improving IT infrastructure, growing internet penetration, and increasing number of connected devices are supporting the growth of the SD-WAN market in APAC.
The break-up of profiles of primary participants is given below as:
- By Company Type: Tier 1 – 18%, Tier 2 – 31%, and Tier 3 – 51%
- By Designation: C level – 42%, Director level – 33%, and Others – 25%
- By Region: North America – 47%, Europe – 31%, APAC – 14%, and the Rest of the World (RoW)- 8%
SD-WAN has enabled improved transport options, including 3G, 4G LTE, MPLS, Wi-Fi, better security, intelligent pathway control, and auto network management. The increasing usage of SD-WAN among Small and Medium Enterprises (SMEs) has further enhanced the demand for it, across many verticals.
The various key SD-WAN vendors and service providers profiled in the report are as follows:
1. Cisco Systems, Inc. (U.S.)
2. Citrix Systems, Inc. (U.S.)
3. Aryaka Networks, Inc. (U.S.)
4. CloudGenix, Inc. (U.S.)
5. Ecessa Corporation (U.S.)
6. Silver Peak Systems, Inc. (U.S.)
7. VeloCloud, Viptela, Inc. (U.S.)
8. Elfiq Networks, Inc. (Canada)
9. Peplink (Hong Kong)
10. Versa Networks (U.S.)