The market for SD-WAN,
acronym for software-defined wide area network, holds massive
potential. It is highly competitive on account of savvy players
launching more cutting-edge products every now and then. The players are
also seen to be leveraging strategic partnerships to enhance their
positions further. Some are offering both on-premise and could-based WAN
management solutions to tap into more service providers and large
companies.
Some of the prominent participants in
the global SD-WAN market are Silver Peak, Inc., Cloudgenix Inc., Nuage
Networks, Talari Networks, Inc., VeloCloud Networks, Inc., Fatpipe
Networks Inc., Versa Networks, Inc., Viptela, Inc., Riverbed Technology,
Inc., and Citrix Systems, Inc.
A report by Transparency Market Research
finds that the global SD-WAN market will expand at a cracking pace in
the years to come. It projects the market to expand at a phenomenal
51.4% CAGR between 2017 and 2025. Rising at this rate, the market will
likely become worth US$34.35 bn by 2025.
BFSI Vertical Catapults North America Market to Forefront
Depending upon the type of vertical, the
global SD-WAN (software-defined wide area network) market can be
divided into retail, banking, financial services, and insurance (BFSI),
healthcare, IT and telecom, government, and manufacturing, among others
such as oil and gas and mining and transportation. Among them, the BFSI
segment is predicted to account for a dominant share in the market on
account of their swift uptake of SD-WAN solutions. In terms of growth
rate, however, the manufacturing segment is slated to outpace the others
by clocking a phenomenal CAGR of 53.0% between 2017 and 2025.
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Based on geography again, the global
SD-WAN (software-defined wide area network) market can be segmented into
North America, Latin America, Europe, Asia Pacific, and the Middle East
and Africa. North America, of them, serves most of the demand in the
market on the back of the BFSI sector. The region currently holds the
leading share and going forward too is expected to retain that share due
to many prominent companies being domiciled in the region. The market
in North America is slated to attain a value of US$13.923 bn by 2025.
Proliferation of Data Driving Market
Massive proliferation of data,
worldwide, and increased flexibility offered by SD-WAN solution is the
primary growth driver in the global SD-WAN (software-defined wide area
network) market. Soaring popularity of cloud computing is also leading
to growth in the market. “In addition, the additional safety and ease
in resource provisioning associated with SD-WAN solutions are also
expected to add to the market’s growth,” explains the lead analyst of
the report.
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