Software defined networking Market size is projected to reach at $72,630 million by 2027, growing at a CAGR of 28.20% from 2020 to 2027

According to a recent report published by Report Ocean, titled, “Software defined networking Market by Component, Organization Size, End User, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020-2027,” The global software defined networking market size was valued at $9,995 million in 2019, and is projected to reach at $72,630 million by 2027, growing at a CAGR of 28.20% from 2020 to 2027.

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The growth of the software defined networking market is driven by number of factors such as increase in adoption of cloud computing and increase in investments in software-defined networking/network function virtualization to reduce capital expenditure and operating expenses. Moreover, increasing need for mobility services in enterprises due to extensive adoption of mobile devices as well as cloud services further drives software defined networking market growth. In addition to this, the COVID-19 pandemic had a notable impact on usage of the internet and leading to the increase in bandwidth usage. This situation is encouraging all the IT infrastructure providers across the globe to switch toward software-defined network, software-defined wide area network (SD-WAN), and hybrid software-defined network (HSDN). However, legacy network equipment issues as well as the security risks due to centralized nature of data plane may hinder the market growth to some extent. On the other hand, rise in implementation of IoT applications and intelligent edge, and its convergence with software defined networking is further provides numerous opportunities for the market to grow.

In 2019, the global software defined networking market share was dominated by the solutions segment and is expected to maintain this trend during the forecast period, due to increase in adoption of software defined networking solutions by enterprises and communication service providers to significantly accelerate the time for delivering new applications and services. However, the services segment is expected to witness the highest growth, as the upsurge in demand in enterprises to develop a strategy for networks is leading to increased adoption of software defined networking services for applications such as identifying factors which may inhibit software defined networking deployment, defining an orchestration strategy, determining overall automation needs, and developing a roadmap.

On the basis of organization size, the large enterprises segment exhibited the highest growth in the software defined networking market in 2019, and is expected to maintain its dominance in the upcoming years, as the businesses in large enterprises segment are constantly setting up new virtual machines and applications to handle processing requests due to the need to accommodate big data. The implementation of software defined networking is further helping IT teams of large enterprises to change the network configurations with no effect to the network. However, the small and medium sized enterprises segment is expected to witness highest growth during the forecast period, due to the need for customized approach provided by software-defined network, surge in need to make business more streamlined, and rise in need to improve efficiency by shortening the time taken to troubleshoot a solution.

Post COVID-19, the size of the global software defined networking market is estimated to grow from $12,735.33 million in 2020 and projected to reach $72,630.00 million by 2027, at a CAGR of 28.2%. Post COVID-19 outbreak, the market is expected to witness significant growth as the software defined networking technologies are helping enterprises to address the extensive capacity demand of mobile traffic. Most of the networks are observing about 30–45% growth over a year in a global internet traffic. Furthermore, increase in need has been witnessed to ensure the internet infrastructures are having enough ability and capacity to deliver services with high performance during the increased traffic demand. Moreover, network solution providers are launching or upgrading advanced software defined networking solutions to meet growing networking demands due to the pandemic. For instance, in September 2020, Infinity Labs, a provider of technology and network solutions, launched Infinxt Secure SD-WAN, the next-generation SD-WAN solution along with an inbuilt next-generation firewall by Palo Alto Networks.

Key Findings Of The Study

By component, in 2019 the solutions segment dominated the software defined networking market size. However, the services segment is expected to exhibit significant growth during the forecast period.
On the basis of organization size, the large enterprises segment accounted for the highest revenue in 2019, however, the small- & medium-sized enterprises segment is expected to witness highest growth rate in the forecasted period.
Depending on end user, the enterprises generated the highest revenue in 2019. However, the cloud service providers segment is expected to witness highest growth rate in the near future.
On the basis of industry vertical, the IT & telecom segment accounted for the highest revenue in 2019, however, the others segment is expected to witness highest growth rate in the forecasted period.
Region wise, the software defined networking market was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
Some of the key software defined networking industry players profiled in the report include Arista Networks Inc., Broadcom Inc., Cisco Systems, Inc., Citrix Systems, Inc., Dell Technologies, Inc., Extreme Networks, Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Juniper Networks, Inc., and NEC Corporation. This study includes market trends, software defined networking market analysis, and future estimations to determine the imminent investment pockets.

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This release was published on openPR.