Software-Defined Wide Area Network (SD-WAN) Market worth $13.7 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 22, 2022 /PRNewswire/ -- The Global Software-Defined Wide Area Network (SD-WAN) Market size is projected to grow from USD 3.4 billion in 2022 to USD 13.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 31.9% during the forecast period, according to a new report by MarketsandMarkets™. The enterprises' focusing on reducing OPEX with SD-WAN technology is driving the growth of the SD-WAN market.
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Cloud segment is estimated to lead the SD-WAN Market in 2022
SD-WAN architecture that is secure is a cloud-native, multi-tenant, multi-service software platform, with primary components that include routing, SD-WAN, and multi-layered security functions. An SD-WAN enables cloud-first organizations to provide a superior application quality of experience (QoEx) for users.
Large enterprise segment is set to emerge as a larger market during the forecast period
Large enterprises have an employee strength of more than 1,000. Large enterprises around the globe are adopting SD-WAN technology to reduce latency, increase reach and expand the businesses. Big companies are opting this technology to decrease equipment and bandwidth costs. Moreover, the focus of large enterprises is to streamline their networks and provide better service for all employees, offices, and branches, as SD-WAN offers unified upgrade to the cloud with important application performance especially for critical applications also with security and data privacy.
Healthcare vertical is expected to have higher growth rate during the forecast period
Traditional WAN networks in healthcare can't sufficiently support organizations with multiple locations and depend on connected medical devices. Therefore, healthcare providers are switching to SD-WAN to ensure security in transmitting patient's data. Operational and cost efficiency is achieved for healthcare organizations through SD-WAN technology. To provide affordable healthcare without losing quality for that efficiency is significant. The SD-WAN software automates many processes and make sure that the network adjusts to meet changing requirements. During COVID-19, network traffic has risen, taxing bandwidth. With SD-WAN, traffic can be redirected, and loads can be balanced so vital applications can perform effectively.
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Asia Pacific is projected to grow at the fastest growth rate during the forecast period
Asia Pacific constitutes thriving economies, such as Singapore, Japan, China, India, and Australia, which are expected to register high growth rates in the network and telecommunications market. It is expected to witness the highest CAGR during the forecast period. China has witnessed immense industrial growth and is the world's manufacturing capital.
The major vendors covered in the SD-WAN Market include Cisco (US), Oracle (US), Hewlett Packard Enterprise (US), Nokia (Finland), VMware (US), Huawei (China), Juniper Networks (US), Fortinet (US), Citrix US), Ciena (US), Epsilon Telecommunications (Singapore), Palo Alto Networks (US), Riverbed Technology (US), Ericsson (Sweden), BT (UK), Colt Technology Services (UK), NEC Corporation (Japan), Tata Communications (India), Extreme Networks (US), Martello Technologies (Canada), Arelion (Sweden), Aryaka (US), Flexiwan (Israel), Cato Networks (Israel), Nour Global (UAE), Sencinet (Brazil), MCM Telecom (Mexico), InterNexa (Colombia), FatPipe Networks (US), Bigleaf Networks (US), Lavelle Networks (India).
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