Software Defined Wide Area Network Market - Growth, Insights and Business Opportunities by 2024

Wide area network (WAN) covers large geographical area compared to Local Area Network (LAN). Public network such as a telephone system is used by WAN for connectivity. Software defined WAN (SDWAN) opens options to enterprises in order to configure their network. Hardware devices working in the network are managed and controlled with the help of SDWAN. SDWAN makes it possible to implement flow related complex algorithms to the hardware components of a network. It offers enormous potential for organizations having multiple locations and significant network traffic.

Automation technologies are used for routing and rerouting data traffic, reducing the complexity involved in the procedure. Increasing adoption of cloud technology has resulted in large data repositories. Cloud technology requires high bandwidth in wide area network. SDWAN helps in improving the bandwidth as per the requirements of cloud technology.

Enterprises worldwide strive to improve the operational efficiency. SDWAN helps enterprises in achieving high operational efficiency with high-speed internet connectivity and network coverage. Enterprise mobility is one of the major drivers of SDWAN market, it is increasingly being adopted as the number of mobile workers are increasing globally. It helps in providing secured access to enterprise data, growth in terms of flexibility and scalability, business continuity.

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Also, employees can maintain a healthy work-life balance with the help of enterprise mobility. It has increased the usage of many devices such as smartphones, tablets and notebooks to access business applications driving the SDWAN market. Bring your own device (BYOD) policies adopted by enterprises are also increasing the demand for SDWAN. Traditional networks with complex architecture can be easily upgraded into simplified networks with the help of SDWAN.

However, with implementation of SDWAN, enterprises must invest in new software solutions, hardware equipment and design and integration increasing the overall cost. However, Implementation will help in reducing the costs in the long run. Security concerns could restrain the growth of SDWAN market as the new set of rules and technologies used for managing networks are not tried and tested.

SDWAN market is segmented on the basis of component, deployment type, service type and end-use adoption, On the basis of component, the market is segmented into virtual appliance, physical appliance and hybrid. In terms of deployment, SDWAN market is segmented into on-premise and cloud deployment. Based on service type, the market for SDWAN is segmented into managed services and professional services. In terms of end-use adoption the market is segmented into banking, financial services, and insurance (BFSI), manufacturing, healthcare, IT and telecom, oil and gas and others.

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