NEW YORK, June 29, 2017 (GLOBE NEWSWIRE) -- According to a new market research report titled “Global SD-WAN Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Appliance (Physical and Virtual), by Implementation Type (Outsourced and In-house) by Industry (IT & Telecom, BFSI, Healthcare, Government, and Others) by Segment (Product and Service)” published by P&S Market Research, the global SD WAN market is projected to reach $9,378.6 million by 2022, growing at a CAGR of 59.2%, during 2016 - 2022.
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The study reveals that the global SD-WAN market is likely to grow from $220.0 million in 2015 to $9,378.6 million by 2022. Due to increasing demand for higher bandwidth and rising cost of WAN management, the global SD-WAN market is gaining traction.
As per the findings of the research, virtual appliance led the global SD-WAN market in 2015. Among various industries, healthcare is expected to witness the highest growth in demand of SD-WAN solutions during the forecast period. Among regions, SD-WAN market is expected to witness fastest growth in demand from Asia-Pacific by 2022. With increasing in-house WAN management complexities, outsourced deployment is expected to continue its larger contribution to the market revenue during the forecast period.
Geographically, North America has been the largest market for SD-WAN, where the U.S. has been the largest contributor to the regional market. China has been the major market in Asia-Pacific. In Europe, Germany is expected to be the major contributor to the regional market.
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The factors driving the growth of the market include rise of cloud computing, need for cost-effective network management, simplified network architecture, and increasing need for network security and visibility. Globally, increase in migration of global enterprises from traditional WAN infrastructure to cloud-based solutions has been developing interest in software-defined wide area network (SD-WAN).
Globally, IT organizations need WAN optimization solutions to overcome challenges of network performance and lower the ongoing WAN cost. SD-WAN solution providers are continuously developing and upgrading their physical and virtual WAN optimization product portfolio, to provide industries with accelerated application performances.
Intelligent pathway control through SD-WAN is an opportunity for the growth of the global market. IT industry is in demand for policy-based routing solutions to assign path to their traffic, based on source, destination or specific application. SD-WAN solutions offer intelligent path control by steering traffic, based on application.
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