Software-Defined Networking (SDN) market growth is driven by the high demand for the adoption of cloud solutions - Technavio
NEW YORK, Nov. 15, 2023 /PRNewswire/ -- In a recent Technavio report titled Software-Defined Networking (SDN) market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, Australia, China, Japan, UK - Size and Forecast 2024-2028, Technavio uncovers the significant impact of Software-Defined Networking (SDN) market in cloud-based companies. According to the research, it is revealed that 38% of the market growth will originate from North America. The market size is forecast to increase by USD 67.37 billion from 2023- 2028. Request sample report
The Software-Defined Networking (SDN) market is driven by the high demand for cloud solutions adoption by enterprises, increasing demand from enterprises for data center modernization, and the increasing number of data center investments.
The SDN market in North America is anticipated to witness substantial growth due to the rising demand for 5G-enabled Internet of Things (IoT) solutions. Additionally, industries like content and digital media, as well as banking, financial services, and insurance (BFSI), are driving the need for high connectivity with minimal latency, further boosting the demand for SDN solutions in the region.
According to Technavio's findings, there is a growing demand for SDN (Software-Defined Networking) solutions in North America, primarily driven by industries like content and digital media, as well as banking, financial services, and insurance (BFSI). This demand is fueled by the need for high connectivity with low latency. Additionally, colocation data center providers are expanding their presence in the region through significant investments. The surge in bandwidth requirements, coupled with the introduction of 5G-enabled IoT services, is anticipated to further boost the growth of the SDN market in North America during the forecast period. Buy the full report here
Technavio highlights the emerging trends of Software-Defined Networking (SDN) market:
Prominent companies are actively immersing themselves in the SDN trend:
Arista Networks Inc. offers software defined networking solutions such as Arista EOS network stack, and network data lake architecture, with the application of artificial intelligence and machine learning (AI/ML) to automation and security challenges. AT and T Inc. offers software defined networking solutions such as NEC Programmable Flow Networking Suite to leverage the OpenFlow protocol and Broadcom Inc. offers software defined networking solutions support a wide range of applications and network management tasks while reducing network complexity, harnessing network level control and boosting optimization. Thus, the offerings mentioned above are expected to increase the demand and growth of the Software-Defined Networking (SDN) market, during the forecast period.
Technavio's software-defined networking (SDN) market report extensively covers market segmentation by end-user (BFSI, healthcare, retail, education, and others), component (physical network infrastructure, SDN applications, and controller software), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The Software-Defined Networking (SDN) market is set to grow at a 29.04% CAGR between 2023 and 2028. This report outlines the key factors driving this growth, including the rising demand for cloud solutions, data center modernization, and increased investments. SDN offers centralized network management and flexibility, resulting in cost savings. The report segments the market by end-users, components, and regions, highlighting the BFSI sector and physical network infrastructure. North America is a key driver, primarily due to 5G-enabled IoT services and high-connectivity demands. However, challenges in network design and fault tolerance may hinder growth. The report aims to provide insights for businesses in the SDN market.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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