Worldwide SD-WAN market to reach valuation of $53 billion by end of 2030
A software-defined wide area network is a type of computer network that allows the bounding of multiple internet access resources, such as cables, digital subscriber lines (DSL), and cellular or any other IP transport to provide high throughput data channels.
WAN solutions improve application performance, reducing costs, increasing agility, and addressing various IT challenges. Enterprises are adopting SD-WAN solutions for threat protection, efficient offloading of expensive circuits, and simplification of WAN network management.
IT infrastructure is rapidly expanding with changing business and technology needs such as security threats, and the adoption of cloud platforms of various branches are anticipated to fuel the growth of the SD-WAN market during the forecast period.
As per the report by PMR, the global SD-WAN market is projected to grow rapidly and reach a valuation of $53 billion by the end of 2030.
Worldwide SD-WAN market
- The appliances segment in the SD-WAN market is expected to gain significant share, owing to increasing adoption of cloud platforms.
- Increasing need for fast services and app agility, and secure access to cloud applications, is boosting demand for SD-WAN solutions.
- The enterprise segment by end user is expected to hold a prominent share in the SD-WAN market, owing to the adoption of associated SD-WAN services.
- Rapid adoption of 5G applications and infrastructure is anticipated to result in significant dominance of North America in the global SD-WAN market.
- With companies across the world replying more on remote operations due to the COVID-19 pandemic, the global SD-WAN market is set to proliferate extensively from this situation.
“Number of partnerships between service providers and vendors in the SD-WAN marketplace is growing quickly. SD-WAN services offer service providers new opportunities to enhance consumer experience. This factor is expected to increase adoption of SD-WAN during the forecast period,” says a Persistence Market Research analyst.
Technology advancements in SD-WAN solutions to boost market growth
Growing use of Internet of Things (IoT), cloud, and mobile applications have increased the requirement of edge services. Cloud-based services are attractive centers for deploying IT solutions, as they decrease IT infrastructure costs while hastening the speed of services for organizations.
The cloud-based solution segment is expected to witness high demand, due to its wide range of functionalities, such as increased flexibility, automation, and faster services.