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SD-WAN Market Segmented By Physical and Virtual Appliances as Physical Appliances and Services, Managed Services Solution
Over the coming years, growing adoption of 5G applications and infrastructure will bode well for the growth of the global SD-WAN market. Adoption of new services in SD-WAN will also catalyze market expansion across regions. PMR’s report also talks about how the importance of SD-WAN is rapidly increasing in the healthcare and retail sectors. While North America will remain the largest regional SD-WAN market, increasing opportunities will arise from the region of South Asia & Pacific over the next decade.
Demand for More Agile & Secure IT Networks to Drive Adoption of SD-WAN Technology: Software-defined Wide Area Networking has enhanced the most disruptive network technology. SD-WAN enables various deployment options, including complete cloud, hardware, and hybrid-based solutions. SD-WAN technology has also been widely adopted for providing easy management and consolidation of branch offices from central locations. There are also new emerging technologies that empower on-premise servers such as solid-state drives (SSDs), hyper-converged infrastructure, and advanced micro device (AMD) processors. The adoption of new services in SD-WAN will lead to rapid expansion of the global SD-WAN market size over the forecast period of 2020 to 2030.
Increasing SD-WAN Adoption in Healthcare Industry: SD-WAN has emerged as the technology that is changing the networking status for the healthcare sector. SD-WAN offers cost-effective scalability and connectivity over wide-area networks, to unify network visibility and security for healthcare networks. It allows healthcare organizations to remove the inflexibility and complexity in managing network capabilities, and simplify the high cost of deploying. This factor is increasing demand and raising the importance of the SD-WAN market in the healthcare sector.
Rising Demand for SD-WAN in Retail Sector: SD-WAN solves various challenges such as securing connectivity to cloud applications and unified management to reduce IT overheads. Retailers need a networking solution that is secure, robust, and scalable. A combination of fast delivery of Internet connectivity and rapid deployment of SD-WAN appliances enables retailers to get e-Commerce sites up and running. SD-WAN also provides important benefits to multi-site customers, which increases demand for SD-WAN in the retail industry.
Technology Developments in SD-WAN: In the era of technological advancements, SD-WAN offers numerous benefits for organizations of all sizes, such as reduced cost, increased productivity, and transforming customer experience. New SD-WAN platforms allow consumers to adopt cloud solutions in their own place.
North America will be the largest market as far as SD-WAN market share is concerned, due to rising demand for next-generation 5G networks that is supporting SD-WAN to create network modernizations. South Asia & Pacific is expected to witness notable growth in the global SD-WAN market during the forecast period. Increasing adoption of bring-your-own-device (BYOD) at workplaces and growing IT spending are anticipated to boost the growth of the SD-WAN growth in the region.
The COVID-19 pandemic has drastically affected businesses across the world. During the lockdown, most enterprises shut down their offices temporarily and employees were working from home, accessing enterprise networks and resources remotely for business continuity and growth. This has increased the adoption of remote solutions as well as high performance WANs.
Utilizing SD-WAN, many enterprises can use reliable unified collaboration platforms such as Zoom, Teams, WebEx, and others. These platforms also allow healthcare organizations to deliver superior care by reliably connecting each element in their healthcare ecosystem. SD-WAN technology is being used to allow doctors and healthcare professionals to more securely and effectively deliver telemedicine from their offices and also from their home locations.
High demand for SD-WAN services in 2019 continues into the first two quarters of 2020. However, the SD-WAN market is estimated to witness a growth of 1.3X in Q3-Q4 2020 and 2021 as well. IT teams are increasingly relying on SD-WAN to boost the network security, which increases the growth of the SD-WAN market.
Innovation in SD-WAN solutions and partnerships are key strategies being followed by top players in the global SD-WAN market to increase their business revenue. SD-WAN vendors are focusing on innovation in services to increase their market shares.
Some of the leading players in the SD-WAN market are Cisco Systems, Inc., IBM Corporation, Palo Alto Networks, Fortinet, Inc., VMware, Inc., Riverbed Technology, Aryaka Networks, Inc., Versa Networks, Inc., CloudGenix Inc., Lavelle Networks, CenturyLink, Inc., Silver Peak Systems, Nuage Networks, Ecessa Corporation, Cato Networks, Infovista, and others.
With remote working becoming the new normal across the world, SD-WAN is being increasing adopted by companies for seamless operations. Players in the SD-WAN market can look to the regions of North America and South Asia & Pacific for increasing opportunities, so as to grow their market share and boost revenue and profits.