Software Defined Wide Area Network Market Worth 5.57 Billion USD by 2020
PUNE, India, January 11, 2016 /PRNewswire/ --
According to a new market research report "Software Defined Wide Area Network Market by Components (Virtual Appliance, Physical Appliance & Hybrid), Deployment Type (On-Premises & On-Cloud), Service (Managed Services & Professional Services), Verticals, & by Regions - Global Forecast to 2020", published by MarketsandMarkets, is expected to reach USD 5.57 Billion by 2020. The SD-WAN market size is estimated to grow at an estimated CAGR of 3.64% from 2015 to 2020.
Browse 82 market Tables and 31 Figures spread through 124 Pages and in-depth TOC on "Software Defined Wide Area Network Market"
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SD-WAN is a transformational application installed in existing WAN connections used by enterprises users to simplify their branch networking performance over large geographies. Increasing need of mobility services, and requirement for simplified network architecture is driving the Software Defined Wide Area Network Market during the forecast period of 2015 to 2020.
Banking Financial Services and Insurance (BFSI) are spurring the demand for SD WAN market globally
The Software Defined Wide Area Network Market is segmented on the basis of different verticals into BFSI, oil and gas, healthcare, government, manufacturing, and others. The demand for SD-WAN solutions is gaining traction across all the industries. Since improving operational efficiency has become one of the key elements of enterprise strategies, the demand for providing high-speed internet and strong network coverage is increasing rapidly. BFSI holds the largest share of the total market share of SD WAN market across the globe.
Reduced Expenses and Rising Enterprise Mobility are the major drivers for SD WAN adoption.
The major forces driving the Software Defined Wide Area Network Market is growing need for enterprise mobility which has given rise to usage of mobile personal devices such as smartphones, notebooks, and tablets to access corporate networks. Furthermore, with the deployment of SD-WAN enables the network operators to save huge capital and operational expenditure is one more major factor driving the SD-WAN market. SD-WAN are affordable in comparison to traditional networking connections as these assists easy up-gradation of traditional complex network into simplified network connections. The enterprises have realized the importance of SD-WAN solutions and are focusing to deploy these solutions in their premises.
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Increasing Bandwidth Demand and High Performance Networking requirements are the key driving factor for North America Market
The report also covers the total Software Defined Wide Area Network Market by geography. North America is expected to have the largest market share; however, Latin America will grow with the highest CAGR from 2015 to 2020. On-going demand for the increasing bandwidth and increasing dependency in high performance networks are the reason for growth of SD WAN in North America.
The major vendors in the SD-WAN market include Aryaka Networks, Cisco Systems, Talari Networks, FatPipe Networks, Mushroom Networks, and others.
The scope of the report covers detailed information regarding major factors influencing the growth of Software Defined Wide Area Network Market, such as drivers, restraints, opportunities, and challenges. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, partnerships, agreements, collaborations, and recent developments associated with the SD-WAN market.
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