Selbyville, Delaware, Dec. 20, 2022 (GLOBE NEWSWIRE) --
The software defined networking market is expected to record a valuation of USD 200 billion by 2032, according to the most recent study by Global Market Insights Inc.
The soaring venture capital investment in the global market is escalating the use of software defined networking. There was a notable development in severe virtualization technology due to the lack of companies that emerged during the disruptive technology period. This has resulted in a surging number of start-ups entering the market to identify innovative ideas and new pain points and to accelerate the shift away from legacy solutions. Furthermore, the exceptional 60-fold boost in VC funding is likely to stimulate SDN market share.
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In comparison to server virtualization, SDN is a significantly more pervasive technology. The multitude of technologies, protocols, and devices that must be compatible with SDN complicates migration for both consumers and vendors, which is considered to be one of the key factors impeding the adoption of SDN solutions. However, prominent R&D initiatives for the development of simple SDN structures may help manufacturers to overcome this hindrance in the future.
The professional service segment held more than 60% share of the software defined networking market in 2022. Professional services are broadly classified into system integration services, advisory & assessment services, training & education services, consulting services, and risk evaluation services. Mounting consumer awareness about the benefits of utilizing professional services is the major factor influencing business growth.
Software defined networking market value from the cloud service provider segment is poised to reach over USD 70 billion by 2032. Cloud service providers are exploring SDN's potential for managing the burgeoning data traffic, decreasing CAPEX and OPEX, and increasing income. The proliferation of content across the cloud, mobile devices, and OTT services is outpacing cloud service providers. Cloud service providers' extensive usage of SDN to establish a cloud inter-network to influence the scalability and flexibility of cloud computing platforms will drive segment growth.
The service component segment in the software defined networking market accounted for USD 4 billion in 2022. The widespread application of cloud computing platforms across a wide range of businesses is foreseen to foster segment growth through 2032. Many businesses are inclined towards professional services to reduce overall operating costs by eliminating the need to maintain physical IT equipment and to increase organizational income, which is primed to promote segment growth.
Asia Pacific software defined networking market is slated to observe nearly 25% gains through 2032. Rising digitization and the rapid development of digital infrastructure across the region are some prominent factors contributing to regional market growth. Government initiatives to promote digitization in emerging nations are also projected to favor revenue growth. Moreover, smart city development initiatives in India and China are expected to boost regional statistics.
Top companies operating in the software defined networking market are NEC Corporation, Cisco, Intel, HP, Huawei, Pics8, AT&T, Arista Network Intel, Extreme Networks Juniper, and IBM, among others. By penetrating new markets, key enterprises are seeking lucrative business opportunities for business development.
To cite an instance, in November 2022, Liquid Dataport, a division of Liquid Intelligent Technologies, became the first African firm to launch a new Software Defined Network (SDN) solution for businesses with a new USD 20 million investment for next three years. The scalable and customized offering is designed to meet the requirements of all enterprises.
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Table of Contents (ToC) of the report
Chapter 3 Software Defined Networking Market Insights
3.1 Introduction
3.2 Impact of COVID-19
3.3 Russia- Ukraine war impact on Software Defined Networking (SDN) industry
3.4 Industry ecosystem analysis
3.5 Software Defined Networking (SDN) architecture
3.6 Software Defined Networking (SDN) evolution
3.7 Software Defined Networking (SDN) Standards
3.8 Technology & innovation landscape
3.9 Patent analysis
3.10 Investment portfolio
3.11 News
3.12 Regulatory landscape
3.13 Industry impact forces
3.13.1 Growth drivers
3.13.1.1 Increased adoption of SDN in manufacturing industry
3.13.1.2 Growing need among organizations to simplify network management
3.13.1.3 Increasing venture capital investment in SDN market space
3.13.1.4 Rapid migration towards cloud-based applications
3.13.1.5 Increased business agility and responsiveness
3.13.2 Industry pitfalls & challenges
3.13.2.1 Complexity of SDN architecture
3.13.2.2 Lack of skilled professionals
3.13.2.3 Absence of standards for full device control
3.14 Growth potential analysis
3.15 Porter's analysis
3.16 PESTEL analysis
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
