Press release
SD-WAN Market Booming Retail Sector Propelling Growth in Asia Pacific
Keen players, for example, are developing and launching more advanced products to steal a march over their competitors in the market. They are also resorting to strategic partnerships to increase their market share.
Massive proliferation of data, worldwide, and increased flexibility offered by SD-WAN solution is the primary growth driver in the global SD-WAN (Software-Defined Wide Area Network) market. In addition, the extra safety and ease in resource provisioning associated with SD-WAN solutions are also serving to stoke growth in the market.
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Posing a hindrance to the global SD-WAN (Software-Defined Wide Area Network) market, on the other hand, is the steep cost of implementing such solutions.
Further, the dearth of standardization and resistance by users of WAN architecture is also expected to be a major restraint to the growth of the global SD-WAN (Software-Defined Wide Area Network) market.
As per a report by Transparency Market Research, the global SD-WAN market will expand at a phenomenal 51.4% CAGR between 2017 and 2025. Rising at this rate, the market will likely become worth US$34.35 bn by 2025.
Booming Retail Sector Propelling Growth in Asia Pacific
From a geographical perspective, North America, at present, dominates the global SD-WAN (Software-Defined Wide Area Network) market with a leading share. By expanding at a stellar CAGR of 52.9%, the region is slated to become worth US$13.92 bn by 2025.
The presence of prominent industry players and rapid uptake of SD-WAN solutions by BFSI sector will help North America market retain its dominant share in the near future. The market in the region is also being helped by the recent investments made by venture capitalists in the SD-WAN technology.
In terms of growth rate, the market in Asia Pacific is predicted to surpass all others by registering a CAGR of 58.6%. This is because of a burgeoning retail sector, growing internet penetration, and increased awareness about technology.
Investments in communication infrastructure in nations of China, Japan, and India are also said to be stoking growth in the SD-WAN market in the region. In addition, the region is home to numerous IT and telecom enterprises, which are expected to drive the market growth.
This 247 page report gives readers a comprehensive overview of the SD-WAN Market. Browse through 30 data tables and 97 figures to unlock the hidden opportunities in this market.
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BFSI Segment Leads in Terms of Uptake of SD-WAN
The global SD-WAN (Software-Defined Wide Area Network) market can be classified into retail, banking, financial services, and insurance (BFSI), healthcare, IT and telecom, government, and manufacturing, among others such as oil and gas and mining and transportation, depending upon the type of vertical.
Among them, the BFSI segment is predicted to account for a dominant share in the market on account of their swift uptake of SD-WAN solutions. BFSI segment is expected to be followed by IT and telecom segment in terms of market share owing to the strengthening of IT industry worldwide.
In terms of growth rate, however, the manufacturing segment is slated to outpace the others by clocking a phenomenal CAGR of 53.0% between 2017 and 2025.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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