Software-Defined Wide Area Network (SD-WAN) Market Projected to Exceed $18 Billion by 2029

[Redding, California, February 27, 2024] - Meticulous Research®, a premier global market research firm, unveils its latest comprehensive report titled, "Software-Defined Wide Area Network Market by Component, Organization Size, Deployment Mode, End User (Communication Service Providers, Data Centers, and Enterprises), and Geography-Global Forecast to 2029." According to this report, the global software-defined wide area network market is anticipated to reach a substantial value of $18.2 billion by 2029, with a robust CAGR of 23% from 2022 to 2029.

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Market Dynamics and Growth Factors
The growth trajectory of the software-defined wide area network market is propelled by several factors including the proliferation of cloud solutions, increasing demand for cost-effective broadband connections, heightened emphasis on enhanced security measures, and the growing need for agile and visible network infrastructure. However, challenges such as reliability issues and security concerns associated with SD-WAN solutions may pose temporary constraints to market expansion.

Market Trends and Opportunities
Key trends in the global SD-WAN market include the transition to hybrid or multi-cloud environments, the emergence of firewall as a service, and the adoption of secure access service edge (SASE) solutions, presenting lucrative opportunities for market stakeholders.

Market Segmentation and Analysis
The report segments the global software-defined wide area network market based on components, organization size, deployment mode, end users, and geography, offering a detailed analysis of industry dynamics at regional and global levels.

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Based on component, the global software-defined wide area network market is segmented into solutions and services. The solutions segment is expected to dominate the market in 2022, driven by significant investments in R&D activities and increasing demand for dynamic connectivity solutions. Meanwhile, the services segment is projected to witness the highest CAGR during the forecast period, fueled by growing requirements for network integration and automation.

Based on organization size, the global software-defined wide area network market is segmented into large enterprises and small and medium-sized enterprises. Large enterprises are poised to lead the market in 2022, owing to surging demand from telecommunications service providers and large data centers. However, the small and medium-sized enterprises (SMEs) segment is expected to register the highest growth rate, driven by the need for agile and efficient network infrastructure.

Based on deployment mode, the global software-defined wide area network market is segmented into on-premise deployment and cloud-based deployment. While on-premise deployment is set to dominate in 2022, cloud-based deployment is projected to witness the highest CAGR, driven by the demand for streamlined network management and reduced infrastructure costs.

Based on end user, the global software-defined wide area network market is segmented into communication service providers, data centers, and enterprises. Data centers are expected to hold the largest share in 2022, driven by increasing automation requirements and the need for enhanced connectivity and management. However, enterprises are anticipated to register the highest growth rate, fueled by growing demand for integrated SD-WAN solutions across various industries.

Regional Outlook
North America is expected to lead the market in 2022, owing to well-established network infrastructure and robust investments in technology development. However, Asia-Pacific is poised to exhibit the highest growth rate during the forecast period, driven by increasing demand for network automation solutions and adoption of SD-WAN across emerging economies.

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Key Players
The global software-defined wide area network market features a moderately competitive landscape with key players including Cisco Systems, Inc., VMware, Inc., Juniper Networks, Inc., Nokia Corporation, Hewlett Packard Enterprise Development LP, Tata Communications, Huawei Technologies Co., Ltd., Fortinet Inc., Telefonaktiebolaget LM Ericsson, NEC Corporation, Oracle Corporation, Adaptiv Networks Inc., Riverbed Technology Inc., Silver Peak Systems Inc., and Aryaka Networks Inc.

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This release was published on openPR.