Software-Defined Wide Area Network Market 2031: Regional Share, Industry Size and Future Growth

Benefits of SD-WAN such as WAN simplification, lower costs, bandwidth efficiency are driving the SD-WAN market growth.

PORTLAND, PORTLAND, OR, UNITED STATES, November 14, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Software-Defined Wide Area Network (SD-WAN) Market," The software-defined wide area network (sd-wan) market was valued at $3.6 billion in 2021, and is estimated to reach $47 billion by 2031, growing at a CAGR of 29.7% from 2022 to 2031.

Software-defined wide area network (SD-WAN) is designed to improve uptime and business agility while reducing operational costs and complexity. In addition, it brings management simplicity with a centralized console that allows businesses to control and scale branch networks. Furthermore, it provides the flexibility to connect any carrier-independent WAN to increase bandwidth availability and reliable connectivity cost-effectively. As more businesses are becoming reliant on internet connectivity for business-critical and cloud applications, SD-WAN is serving as a necessity.

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In addition, software-defined wide area network solutions with integrated artificial intelligence for IT operations (AIOps) have emerged as the key to automating manual tasks. AIOps can help IT teams with anomaly detection, event correlation, and root cause analysis, allowing administrators to easily pinpoint issues and speed up response times for problem remediation.

Moreover, surge in adoption of SD-WAN solutions with integrated AIOps capabilities will help organizations to continuously scale and simplify operations, which is anticipated to provide remunerative opportunities for the software-defined wide area network market forecast. Furthermore, the next-generation SD-WAN solution enables all branch services, including networking, security, and voice services to be delivered from the cloud. A secure SD-WAN connection gives organizations the surety that branch locations are protected from threats and provides optimal performance for end users.

The small and medium-sized enterprises (SMEs) segment is expected to experience fastest growth in the coming years, continuous rise in number of government initiatives through various digital SME campaigns throughout the world fuel the growth of the market.

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Based on components, the global SD-WAN market share was dominated by the solution segment in 2021 and is expected to maintain its dominance in the upcoming years. Owing to advances in technologies enabling SD-WAN solution to transform industries globally, such as BFSI, manufacturing, and healthcare. However, the services segment is expected to witness the highest growth, as Software-defined wide area network (SD-WAN) services reduce the time and costs associated with optimizing systems in the initial phase of deployment.

Region-wise, North America dominated the software-defined wide area network market size in 2021. Adoption of software-defined wide area network (SD-WAN) solution growing steadily to meet increasing demands from today’s businesses to enhance their business process and improve the customer experience is expected to fuel the market growth in this region. However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. Surge in digitalization toward business operation, is projected to provide lucrative growth opportunities for the software-defined wide area network (SD-WAN) market in Asia-Pacific region.

The key players that operate in the software-defined wide area network market analysis are Cisco Systems, Inc., Dell, Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., Juniper Networks, Inc., NEC Corporation, Nokia Corporation, Oracle Corporation, Telefonaktiebolaget LM Ericsson, and VMware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the software-defined wide area network industry.

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The growth of the SD-WAN market has been positively influenced by the COVID-19 outbreak, with companies worldwide investing in advanced technologies like AI, big data, cloud computing, IoT, and SD-WAN solutions as part of their increased focus on digitalization. The rapid advancement of the SD-WAN industry is prompting businesses and technology service providers to adopt SD-WAN, driven by a rising demand that is expected to lead to higher investments in the sector. These factors are poised to create lucrative opportunities for market growth in the foreseeable future.

Moreover, digitalization has emerged as a critical factor for competitiveness in the fourth industrial revolution. Although network devices and applications vary widely in functionality and form, many legacy devices are becoming incompatible with newer technologies, posing a challenge to market growth. SD-WAN implementation addresses this issue by reducing the reliance on on-premises hardware, thereby lowering maintenance costs and minimizing downtime. Additionally, upgrading services to newer versions is simplified, and businesses can easily incorporate future applications and services through software rather than hardware. These aspects are anticipated to present attractive prospects for the growth of the software-defined wide area network industry in the forecast period.

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