Pune, India, April 04, 2019 (GLOBE NEWSWIRE) -- The rising need for software abstractions that swap specialized hardware by way of software defined networking is leading to the growth of the market at an accelerated pace. The market for software defined networking market is expected to be influenced by a CAGR of 42.41% while generating revenues worth USD 59,000 Mn in the forecast period from 2018 to 2023. The growth of cloud computing multi-tenant architecture is expected to spur the software defined networking market significantly. Also, the gains related to network management and end-to-end visibility achieved by the implementation of software defined networking is projected to lift the market’s growth in the coming years.
The necessity to reduce hardware footprint and lower operational costs is also found to be a key influencing factor in the growth of the market. The market has also found significant assistance in its development due to factors such as the upsurge of big data and the advances perceived in networking infrastructure. The application of SDN in retail, BFSI, telecom, and IT is expected to improve the development of the software defined networking market in the coming years. Moreover, the potential for virtualizing parts of the networking infrastructure is expected to create a further impetus for progress in the upcoming period. As software defined networking market is enabling the virtualization of data center networks, it is flourishing at a rapid pace. The automation in IT is expected to further lift the growth trajectory of the software defined networking market in the forecast period ahead.
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Market Segmentation
The evaluation of the segments of the software defined networking market has been carried out on the basis of solution, organization size, application, component, end-user, and region. On the basis of organization size, the software defined networking market has been segmented into large enterprise and SMEs. The segmentation on the basis of component, the software defined networking market has been segmented into services (consulting service, professional service, support & maintenance service, and managed service), hardware component (switches, router, and others), and software (application software and software controller). Based on application, the market segmentation comprises of SD-LAN, SD-WAN, security applications, and others. The SD-LAN segment is primed to display the fastest CAGR during the forecast period. On the basis of solution, the software defined networking market has been segmented into network virtualization & automation solution and physical network infrastructure solution. The network virtualization & automation segment is anticipated to develop as a vastly attractive segment and capture a CAGR of 45.18% through the forecast period. The end-user-based segmentation of the market has been segmented into IT & telecommunication, retail, industrial, BFSI, healthcare, government, and others. By regions, the software defined networking market comprises of Latin America, Asia Pacific, North America, the Middle East, Africa, and Europe.
Software Defined Networking Market to be Reinvigorated by Technological Innovations Globally
The regional evaluation of the SDN Market comprises of regions such as Latin America, Asia Pacific, North America, the Middle East, Africa, and Europe. The North American region is leading the software defined networking market globally. The nations of Canada and the US are home to a few of the prominent technology businesses, which puts the North American region in a certain competitive advantage. Furthermore, the presence of an innovative networking infrastructure permits a seamless execution of cutting-edge networking technologies. The factors such as extensive investment in R&D and the incidence of a vast IT and communication sector are sustaining the development of the market in the North American region. The North American regional market is estimated to reach a valuation of 24,800 Mn.
Key Players
The significant players that are operating in the software defined networking market globally are Huawei Technologies Co. Ltd., Cisco Systems, Inc., NEC Corporation, IBM Corporation, Ciena Corporation, Hewlett Packard Enterprise Company, Intel Corporation, Pluribus Networks Inc., Pica8 Inc., Juniper Networks Inc., Big Switch Networks Inc. and Brocade Communications Systems Inc.
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Key Updates
- Mar 2019 HGC Global Communications Limited (HGC), which is a fully-fledged fixed-line operator and ICT service supplier with a widespread local and international network coverage, services and infrastructure, recently revealed the launch of its global Telco-service Marketplace, bringing international services to a digital marketplace for service orchestration and ordering aided by HGC Software Defined Network (SDN) architecture.
- Mar 2019 IX Reach, the international leader in SDN cloud connectivity, DWDM services and remote peering, Ethernet has lately announced the introduction of its recently upgraded and enhanced SDN platform; One Portal. This advanced platform will change the way people and networks link, interact and grow. The One Portal delivers direct, on-demand SDN Cloud connectivity into the three Cloud Service Providers IX Reach presently offers as a direct partner.
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