Software Defined Networking Market to generate $72,630 million by 2027, with a CAGR of 28.2%
Software defined networking
Increase in adoption of cloud computing, rise in investments in software defined networking function virtualization to reduce capital expenditure and operating expenses are the major factors that propel the growth of the global software defined networking market. Furthermore, surge in need for mobility services and increase in bandwidth usage due to covid-19 fuel the market growth. Nevertheless, legacy network equipment issues and security risks due to centralized nature of data plane impede the market growth. However, increase in implementation of IoT applications and intelligent edge, and its convergence with software-defined networking and emergence of 5G network are anticipated to usher new opportunities in the near future.
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Covid-19 Scenario:
Surge in shift toward cloud computing by various organizations during the COVID-19 pandemic has significantly increased the implementation of software defined networking solutions among cloud service providers.
The investments in network function virtualization and software defined networking have considerably increased with rising internet traffic stemming during the pandemic.
Based on region, the North America region held the largest share of the global software defined networking market, contributing to nearly two-fifths of the total share in 2019, and will continue its leadership position during the forecast period. This is owing to surge in adoption of advanced technologies across various industry verticals, increase in adoption of cloud computing & mobility solutions, and rise in need for network management for large network traffic. On the other hand, the Asia-Pacific region is anticipated to manifest the fastest CAGR of 32.60% from 2020 to 2027. This is attributed to increase in number of start-ups and upsurge in implementation of new & advanced technologies such as virtualization services and mobility solutions among working system of businesses in this region.
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Leading players of the market
Dell Technologies, Inc.
Extreme Networks, Inc.
Hewlett Packard Enterprise Development LP
International Business Machines Corporation
Juniper Networks, Inc.
NEC Corporation
Arista Networks Inc.
Broadcom Inc.
Cisco Systems, Inc.
Citrix Systems, Inc.
Post COVID-19 outbreak, the market is expected to witness significant growth as the software defined networking technologies are helping enterprises to address the extensive capacity demand of mobile traffic. Most of the networks are observing about 30–45% growth over a year in a global internet traffic. Furthermore, increase in need has been witnessed to ensure the internet infrastructures are having enough ability and capacity to deliver services with high performance during the increased traffic demand. Moreover, network solution providers are launching or upgrading advanced software defined networking solutions to meet growing networking demands due to the pandemic. For instance, in September 2020, Infinity Labs, a provider of technology and network solutions, launched Infinxt Secure SD-WAN, the next-generation SD-WAN solution along with an inbuilt next-generation firewall by Palo Alto Networks.
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