How Is The Global Software-Defined Wide Area Network (SD-WAN) Market Defined?
A software-defined wide area network (SD-WAN) is a technology that simplifies the management and operation of a wide area network (WAN) by separating the networking hardware from its control mechanism. It leverages software-defined networking (SDN) principles to dynamically manage and optimize the distribution of network traffic across multiple connection types, including broadband internet, MPLS (multiprotocol label switching), LTE, and others.
Software-Defined Wide Area Network (SD-WAN) Global Market Report 2024 provides data on the global software-defined wide area network (sd-wan) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The software-defined wide area network (sd-wan) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Software-Defined Wide Area Network (SD-WAN) Market Size Expected To Expand, And At What Annual Growth Rate?
The software-defined wide area network (SD-WAN) market has grown exponentially in recent years. It will grow from $5.60 billion in 2023 to $7.56 billion in 2024, at a CAGR of 35.1%. The historical growth can be attributed to the simplified network solutions, increasing demand for broadband internet connections, enterprises focusing on reducing operational expenditures, and greater adoption due to the rise in mobile workers. The SD-WAN market is expected to grow to $25.36 billion by 2028 at a CAGR of 35.4%. Factors driving this growth include the increasing use of cloud services, rising demand for mobility services, greater smartphone penetration, enhanced bandwidth efficiency, and robust infrastructure. Key trends in the forecast period include technological advancements, the increased demand for broadband internet, a focus on reducing operational expenditures, AI integration, and a heightened emphasis on digital transformation.
What Are The Key Drivers Fueling Growth In The Software-Defined Wide Area Network (SD-WAN) Market?
The increasing adoption of cloud-based solutions is expected to accelerate the growth of the software-defined wide area network (SD-WAN) market. Cloud-based services are popular due to their scalability, cost efficiency, global accessibility, and enhanced security. SD-WAN technology optimizes cloud services by improving traffic routing, integrating security features, and offering reliable connectivity. For example, Eurostat reported that 45.2% of EU enterprises adopted cloud computing services in 2023, a 4.2% increase from 2021. As cloud services expand, the SD-WAN market will continue to grow.
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What Are The Principal Market Segments In The Global Software-Defined Wide Area Network (SD-WAN) Industry?
The software-defined wide area network (SD-WAN) market covered in this report is segmented –
1) By Component Type: Solutions, Services
2) By Deployment Mode: Premise, Cloud, Hybrid
3) By Organization Size: Large Enterprises, Small-Medium Enterprises
4) By End-User Industry: Healthcare, Banking And Financial Services, Retail And Consumer Services, Manufacturing, Transport And Logistics, Information Technology (IT) And Telecommunication (Telecom), Other End-User Industries
Which Emerging Market Trends Are Altering The Software-Defined Wide Area Network (SD-WAN) Sector?
In the software-defined wide area network (SD-WAN) market, companies are working on innovative solutions such as multi-tenant edge Secure SD-WAN to improve security, performance, and scalability for enterprises. These solutions support multiple tenants within a single platform, providing enhanced security, isolated network environments, and better management at the network edge. For example, in October 2022, SITA, a Switzerland-based air transport technology company, partnered with Versa Networks, a US-based SASE company, to launch SITA Connect Go, a multi-tenant edge Secure SD-WAN solution for the air transport industry. This solution enables multiple stakeholders, including airlines and ground handlers, to use the same infrastructure at airports and in the cloud, offering flexible and scalable connectivity.
What Is The Leading Region In The Software-Defined Wide Area Network (SD-WAN) Market?
North America was the largest region in the software-defined wide area network (SD-WAN) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software-defined wide area network (SD-WAN) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
