The global SD-WAN market size is expected to grow from USD 1.0 billion in 2018 to USD 4.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 32.7%
NEW YORK, March 26, 2019 /PRNewswire/ -- SD-WAN contribution in OPEX reduction and increasing number of cloud-based solutions to drive the SD-WAN market
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The global SD-WAN market size is expected to grow from USD 1.0 billion in 2018 to USD 4.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 32.7% during the forecast period. The increasing number of cloud-based applications increases traffic in the network and SD-WAN provides better cloud connectivity than MPLS does. As a result, enterprises are expected to opt for SD-WAN. The deployment of SD-WAN also enables network operators to save capital and reduce OPEX. To handle increased traffic, enterprises need to move toward more advanced technologies, boosting the global SD-WAN market during the forecast period.
Among end users, the service providers segment to account for a higher market share during the forecast period
The service providers segment is expected to account for a higher market share during the forecast period.Currently, service providers are in the process of modernizing WAN offerings to meet customers' demand for bandwidth and connecting customers to the cloud.
This has boosted the growth of SD-WAN market, resulting in the increased deployment of SD-WAN solutions across the globe. Also, service providers are increasingly adopting the SD-WAN technology to offset the declining MPLS revenues, as well as cater to the new customer segments especially the SMEs.
Among the deployment type, the cloud deployment is expected to dominate the market in the future
The cloud-enabled SD-WAN deployment model offers the benefits and features of on-premises along with the added benefit of connecting to a virtual or cloud gateway have boosted the adoption of SD-WAN solutions. Furthermore, businesses and enterprises are moving to cloud-based applications, thus the demand and adoption of cloud-based SD-WAN is going to increase over time.
Among regions, North America to grow at the highest CAGR during the forecast period
North America is expected to record the highest growth rate among all regions, as the region is the fastest adopter of the innovative technologies. An increasing need for mobility services is a major growth factor for the SD-WAN market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the SD-WAN market.
The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
• By Designation: C-Level – 65%, Director Level – 35%
• By Region: North America – 30%, Europe – 35%, APAC – 25%, and RoW – 10%
The following key SD-WAN vendors are profiled in the report:
• Cisco (US)
• VMware (US)
• Silver Peak (US)
• Aryaka Networks (US)
• Nokia (Finland)
• Oracle (US)
• Huawei (China)
• Infovista (France)
• Citrix (US)
• Juniper networks (US)
• Fortinet (US)
• HPE (US)
• FatPipe (US)
• Riverbed (US)
• CloudGenix (US)
• Versa Networks (US)
• Adaptiv Networks (Canada)
• Peplink (US)
• Lavelle Networks (India)
• Martello Technologies (Canada)
• Mushroom Networks (US)
• Zenlayer (US)
• Bigleaf Networks.
Research Coverage
The SD-WAN market has been segmented by component (solutions and services), deployment type (on-premises and cloud), end user (service providers and enterprises), and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global SD-WAN market.
Reasons to Buy the Report
The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the SD-WAN market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.
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