Software-defined wide area network (SD-WAN) Market 2023-2027; Segmentation by Product, End-user and Geography; CAGR accelerating at 29.7% by 2027- Technavio
NEW YORK, June 9, 2023 /PRNewswire/ -- The software-defined wide area network (SD-WAN) market size is estimated to grow by USD 11,208.29 million from 2023 to 2027. The market is estimated to grow at a CAGR of 29.7%. The growth momentum will be increasing during the forecast period. North America is estimated to account for 36% of the global market growth. In this region, the US and Canada dominate data center investments due to the rising demand for 5 G-enabled IoT solutions in these countries, strongly supported by high connectivity and bandwidth, cool ambient temperature, low electricity tariffs, and a tax-friendly environment. Moreover, the consumer and enterprise data traffic propel the demand for data centers in the region, factors such as demand for IoT devices, rising investments in AI, implementation of autonomous technologies across enterprises, and growing investments in autonomous vehicles. Such factors will increase the market growth in this region during the forecast period.
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Global Software-defined Wide Area Network (SD-WAN) Market - Segmentation Assessment
The software-defined wide area network (SD-WAN) market is segmented by Product (Solutions and Services), End-user (Service providers and Enterprise customers), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
The market share growth by the solutions segment will be significant during the forecast period.
The solutions segment was valued at USD 955.06 million in 2017 and continued to grow until 2021, thus this segment will boost the market in forecast period.
The connectivity, management, cloud resources, and services between data centers, and remote are controlled by software using SD-WAN solutions.
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Global Software-defined Wide Area Network (SD-WAN) Market Kay factors for market drivers-
The rising demand for cloud solutions is notably driving market growth. Enterprises across various industry sectors such as banking, content and digital media, financial services and insurance (BFSI), retail, and manufacturing, are the main contributors to the rise in demand. Enterprises and service providers are implementing SD-WAN solutions to improve their scalability, efficiency, and agility and to reduce CAPEX and OPEX. The demand for cloud-based SD-WAN is increasing as it overcomes such network-related challenges. Therefore, such factors will boost the market growth during the forecast period.
Leading trends influencing the market-
Extended partnerships, mergers, and acquisitions are emerging trends in the market. Software-defined wide area network (SD-WAN) market is expected to consolidate As major vendors focus on product portfolio enhancements to increase their market share. However, they enhance their SD-WAN solutions with new security features, collaboration with cloud solutions providers, and partnerships with managed service providers. Hence, these factors will positively influence the market growth during the forecast period.
Major challenges hindering the market growth-
Lack of technical skills is a major challenge impeding market growth. One of the major constraints for the adoption of SD-WAN solutions is the technology gap among the IT staff of different enterprises. Most of the IT personnel have command over traditional and fundamental technologies in network infrastructures. However, finding technical staff with command of multiple technical domains has been one of the major challenges for enterprises. Furthermore, technical professionals must have knowledge of software troubleshooting and management to overcome this challenge. Therefore, these factors will impede the market growth during the forecast period.
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What are the key data covered in this Software-defined Wide Area Network (SD-WAN) Market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the Software-defined Wide Area Network (SD-WAN) Market between 2023 and 2027
Precise estimation of the size of the Software-defined Wide Area Network (SD-WAN) Market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the Software-defined Wide Area Network (SD-WAN) Market industry across North America, APAC, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Software-defined Wide Area Network (SD-WAN) Market vendors
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Software-defined Wide Area Network (SD-WAN) Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 29.7%
Market growth 2023-2027
USD 11,208.29 million
YoY growth 2022-2023 (%)
North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution
North America at 36%
US, China, Japan, UK, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Exhibit 142: Juniper Networks Inc. - Product / Service
Exhibit 143: Juniper Networks Inc. - Key offerings
12.13 Nokia Corp.
Exhibit 144: Nokia Corp. - Overview
Exhibit 145: Nokia Corp. - Business segments
Exhibit 146: Nokia Corp. - Key offerings
Exhibit 147: Nokia Corp. - Segment focus
12.14 Oracle Corp.
Exhibit 148: Oracle Corp. - Overview
Exhibit 149: Oracle Corp. - Business segments
Exhibit 150: Oracle Corp. - Key news
Exhibit 151: Oracle Corp. - Key offerings
Exhibit 152: Oracle Corp. - Segment focus
12.15 Palo Alto Networks Inc.
Exhibit 153: Palo Alto Networks Inc. - Overview
Exhibit 154: Palo Alto Networks Inc. - Product / Service
Exhibit 155: Palo Alto Networks Inc. - Key news
Exhibit 156: Palo Alto Networks Inc. - Key offerings
12.16 Riverbed Technology Inc.
Exhibit 157: Riverbed Technology Inc. - Overview
Exhibit 158: Riverbed Technology Inc. - Product / Service
Exhibit 159: Riverbed Technology Inc. - Key offerings
12.17 Untangle Inc.
Exhibit 160: Untangle Inc. - Overview
Exhibit 161: Untangle Inc. - Product / Service
Exhibit 162: Untangle Inc. - Key offerings
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 163: Inclusions checklist
Exhibit 164: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 165: Currency conversion rates for US$
13.4 Research methodology
Exhibit 166: Research methodology
Exhibit 167: Validation techniques employed for market sizing
Exhibit 168: Information sources
13.5 List of abbreviations
Exhibit 169: List of abbreviations
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