Chicago, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The global Software-Defined Networking Market size is expected to grow from USD 24.5 billion in 2023 to USD 60.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.7% during the forecast period, according to a new report by MarketsandMarkets™.
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292 - Tables
54 - Figures
280 - Pages
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Software-Defined Networking Market Dynamics:
Drivers:
- Need to simplify network management
- Need to optimize CAPEX and reduce OPEX
- Rising demand for cloud services, data center consolidation, and server virtualization
- Increasing need for enterprise mobility to enhance productivity for field-based services
Opportunities:
- Growing adoption of IoT
- Rising implementation of SDN for 5G
- Increasing demand for hybrid clouds
- Development of open-source SDN
Restraints:
- Increasing security concerns
- Lack of skilled workforce
List of key Players in Software-Defined Networking Market:
- Cisco (US),
- Huawei (China),
- VMWare (US),
- Dell EMC (US),
- Juniper Networks (US),
- IBM (US),
- Ericsson (Sweden),
- Ciena (US),
- HPE (US),
- Nokia (Finland),
- Arista Networks (US)
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The increasing demand for data centers, cloud services, and server virtualization is propelling the SDN market forward. Its ability to address the challenges posed by modern technologies such as cloud services and server virtualization makes SDN a crucial enabler for businesses seeking efficient, agile, and secure networking solutions in today’s digital landscape.
This report covers the SDN market by offering, SDN Type, application, end-user, vertical, and region.
The software segment is estimated to hold the highest market share during the forecast period. The growing need for agile, responsive, and simplified network management solutions will drive the software segment. SDN software offers a solution by automating intricate network configurations and management tasks. This automation streamlines processes, reduces manual errors, and enhances overall network efficiency, allowing organizations to focus on strategic initiatives rather than mundane operational tasks.
By region, North America is estimated to hold the highest market share during the forecast period. North America is mainly driven by the region’s early and fast adoption of technologies, such as cloud computing, network functions virtualization, mobility services, and Bring Your Own Device (BYOD). High industrialization in countries like the US and Canada has always been a positive factor in aiding fast growth in various business verticals. Countries in North America have favorable standards and networking regulations that help boost the SDN market. North America houses several global leaders in networking industries and is an attractive market for investment, opening up new opportunities for the adoption of the SDN infrastructure.
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