Selbyville, Delaware,, Nov. 28, 2022 (GLOBE NEWSWIRE) --
The SD-WAN market valuation is anticipated to exceed USD 800 billion by 2032, as reported in a research study by Global Market Insights Inc.
The growing smartphone penetration and increasing utilization of AI & ML with SD-WAN as the chief drivers of the software-defined wide area network industry. In addition, the significant growth of SD-WAN in the manufacturing sector due to the surging IoT trend is also contributing to the market expansion. IoT sensors and smart devices in the manufacturing industry have increased the number of connected endpoints. Thus, various benefits of SD-WAN, such as centralized control over the remote network assets and secure WAN traffic flow, are aiding the management of network devices effectively, which is likely to impact industry growth.
Growing preference among SD-WAN adopters to increase solution segment share
The SD-WAN solution segment is primed to progress at around 65% growth rate between 2023 and 2032. The growing preference for virtual appliances to leverage the benefits of network function virtualization technology, including centralized management & high agility, is expected to fuel the demand for software-defined wide-area network solutions. Many companies provide hybrid appliances connected to the cloud to offload resource-intensive tasks and avoid bottleneck issues, which is forecast to strengthen the segment outlook.
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Advanced security features to augment demand for physical appliances solution
The physical appliance segment accounted for more than 60% of the software-defined wide area network market revenue share in 2022 as these appliances offer SD-WAN functionality, including firewalls, dynamic path routing, and WAN optimization. SDN vendors collaborate with firms that have few of their network functions in the cloud, which makes them preferred choices as they contain basic functionalities and advanced security in a single product that are suitable for on-premise deployment.
Increased efforts to expand customer reach to accelerate BFSI segment growth
The deployment of SD-WAN to maintain the traffic flow in the banking & financial services industry is poised to remain high. The software-defined wide area network market from the BFSI application segment is slated to exhibit nearly 65% CAGR from 2023 to 2032. The surging need for expanding their customer base is encouraging firms in the BFSI industry to adopt advanced technologies, boosting product adoption. The segment growth is speculated to be driven by substantial demand for secure VPN connections across any service provided by the BFSI sector.
Superior recovery to push on-promise deployment of SD-WAN
The on-premise segment held approximately 70% of the SD-WAN market share in 2022. Small and localized organizations are building their own WAN infrastructures to provide their employees and customers with access to data and applications, thereby facilitating segment growth. The ability of SD-WAN deployed through on-premise architecture has better recovery & backup functionality under unforeseeable circumstances, which is predicted to facilitate segment development.
Soaring popularity of workplace mobility to aid North America business growth
The North America software-defined wide area network market captured over 45% of the market share in 2022. The region may emerge as a major revenue hub for this industry owing to mounting smartphone penetration, rapid adoption of cloud computing platforms, and prominent investments in broadband infrastructure. Additionally, the growing popularity of workforce mobility is elevating the demand for a centralized network management solution, which allows enterprises full control over their networks.
Collaborative efforts to innovate solutions to remain a primary growth strategy
The strategic landscape of the global market is foreseen to witness a series of growth alliances and partnerships by industry players to enhance their business outlook in the coming years. Some key players profiled in the SD-WAN market report include Martello Technologies (Elfiq Networks), Huawei Technologies Co., Ltd., CloudGenix, Inc., Nuage Networks, Ecessa Corporation, FatPipe Networks, Inc., Infovista, and others.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 SD-WAN industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Component trends
2.5 Deployment mode trends
2.6 Application trends
Chapter 3 SD-WAN Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Russia- Ukraine war impact on SD-WAN industry
3.4 Industry ecosystem analysis
3.5 SD-WAN architecture
3.6 Architecture approaches for SD-WAN
3.7 SD-WAN technology evolution
3.8 SD-WAN traditional WAN
3.9 Technology landscape
3.10 Patent analysis
3.11 Investment portfolio
3.12 News
3.13 Regulatory landscape
3.14 Industry impact forces
3.14.1 Growth drivers
3.14.2 Industry pitfalls & challenges
3.15 Growth potential analysis
3.16 Porter’s analysis
3.17 PESTEL analysis
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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.
