Wide Area Network Optimization Market Size Worth $4.88 Billion By 2027: Grand View Research, Inc.
SAN FRANCISCO, Sept. 1, 2020 /PRNewswire/ -- The global wide area network optimization market size is estimated to reach USD 4.88 billion by 2027, registering a CAGR of 9.5% from 2020 to 2027, according to a new study by Grand View Research, Inc. The growing need for efficient network optimization across business organizations is the major factor in driving the market growth. Moreover, in a bid to achieve improved Quality of Services (QoS) and productivity on their existing network, companies across the globe are increasingly deploying network optimization solutions, thereby supporting the market demand.
The ongoing COVID-19 pandemic has compelled several business organizations and educational institutions to shut their operations temporarily. The closure of educational institutes has necessitated students to use virtual offerings (example - Google Classroom) for learning. In a bid to offer a unified digital learning experience to students, universities and institutions have been forced to deploy robust network infrastructure, necessitating the need for network monitoring and thereby driving demand for wide area network (WAN) optimization solutions. Similarly, several enterprises have allowed their employees to work from home till the pandemic is contained, thereby necessitating a reliable and effective network monitoring solution to help minimize latency in the network and deliver an agile response to employees and clients. Therefore, the COVID-19 outbreak is expected to have a positive impact on market demand.
Key suggestions from the report:
Read 125 page research report with ToC on "Wide Area Network Optimization Market Size, Share & Trends Analysis Report By Component (Solution, Services), By Deployment Type (Cloud-based, On-premise), By Enterprise Size, By Vertical, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/wide-area-networks-optimization-market
With the introduction of the next-generation 5G network, many businesses and service providers are investing heavily in high-speed cloud-RAN (C-RAN) and core network deployments. While C-RAN helps service providers to reduce huge costs associated with the infrastructure, the high-speed network needs continuous monitoring to ensure operational performance through minimal downtime. Thus, imminent need to minimize the downtime and thereby improve operational performance is expected to drive demand for WAN optimization solutions among business organizations. Moreover, with the advent of edge computing and its increased adoption across industry verticals, small-scale data center establishments are on the rise. To attain optimal computation and ensure unified communication during the data exchange process between data centers, businesses are increasingly deploying WAN optimization solutions.
Moreover, the key market players are significantly focusing on partnerships and collaborations with large service providers to capture market share. For instance, in July 2020, Cisco Systems, Inc. entered a partnership with AT&T Inc to deliver fast and secured SD-WAN solution offerings. This strategic partnership is expected to help Cisco Systems Inc to increase its overall customer base and revenue share.
Grand View Research has segmented the global wide area network optimization market on the basis of component, deployment type, enterprise size, vertical, and region:
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.