What are Key Factors Causing Boom of SD-WAN Market?

With the generation and utilization of huge amounts of data across the world, a large number of mission-critical assets such as enterprise information, databases, and applications are becoming highly vulnerable to unauthorized access. Moreover, the conventionally used wide-area network (WAN) solutions don’t have the capability to protect the network from various security threats and provide adequate security for several cloud applications. This is fueling the demand for software-defined WAN (SD-WAN) solutions as they assist in measuring and monitoring network traffic.

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Additionally, the increasing migration of businesses from conventional WAN infrastructure to cloud-based solutions is also propelling the expansion of the global SD-WAN market, as a result of which, the market revenue is expected to grow from $1.4 billion in 2019 to $43.0 billion by 2030. Furthermore, the market is expected to progress at a CAGR of 38.6% from 2020 to 2030 (forecast period). Depending on offering, the market is divided into service and solution categories.

This was because of the rapid digitization in the industry, high requirement for an improved customer experience, and large-scale use of mobile devices at workplaces. Additionally, the increasing technological advancements being made in the industry such as the incorporation of IoT, artificial intelligence (AI), and 5G network connections is also driving the growth of the category in the market. Geographically, the Asia-Pacific (APAC) region will be the fastest growing region in the SD-WAN market throughout the forecast period, as per the estimates of the market research company, P&S Intelligence.

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This will be a result of the increasing IT spending, growing implementation of favorable government initiatives in Japan and China regarding the use of 5G, shift of businesses toward digital transformation, and the mushrooming use of connected devices and the cloud computing technology in the region. In addition, the increasing focus of businesses on expanding their operations in the regional countries is also contributing toward the expansion of the SD-WAN market in the APAC region.

Hence, it can be said without any hesitation that the demand for SD-WAN solutions will surge sharply in the upcoming years, primarily because of the rising incidence of cyber-attacks, growing use of IoT, and ballooning popularity of cloud computing across the world.

About P&S Intelligence
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This release was published on openPR.