The market for SD-WAN holds massive potential, says a new report from Transparency Market Research.
The study found that the global SD-WAN market will expand at a 51.4 percent CAGR between 2017 and 2025. The market could reach $34.35 billion by this time.
Some of the prominent global participants named in the report are Silver Peak, Cloudgenix, Nuage, Talari, VeloCloud, Fatpipe, Versa, Viptela, Riverbed and Citrix.
The report mentions how the market can be divided into retail, banking, financial services, and insurance (BFSI), healthcare, IT and telecom, government, and manufacturing, among others such as oil and gas, mining and transportation. The BFSI segment is predicted to account for a dominant share in the market. In terms of growth rate, however, the manufacturing segment is slated to outpace the others with a CAGR of 53 percent between 2017 and 2025.
The global SD-WAN market can also be segmented into North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. North America serves most of the demand in the market on the back of the BFSI sector. The region currently holds the leading share and looking forward it should retain its grip. The market in North America is slated to attain a value of $13.923 billion by 2025.
Massive proliferation of global data, increased flexibility and rising cloud adoption are all primary growth drivers for SD-WAN. One factor serving to crimp growth in the global SD-WAN market, however, is the steep cost of implementation. Further, the lack 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.
