According to the latest report "SD-WAN Market by Component (Solution, Service), Deployment Model (On-premise, Cloud, Hybrid), Application (IT & Telecom, BFSI, Healthcare, Retail & Consumer Goods, Government, Manufacturing), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of software-defined wide area network (SD-WAN) will cross $30 billion by 2026. The growing demand to enhance network management capabilities and simplify the wide-area network infrastructure across enterprises is anticipated to contribute significantly to the market growth.
The growing demand to reduce capital & operating expenses related to the management of network infrastructure is supporting the SD-WAN market growth. Traditional WAN networks relied on expensive hardware appliances to provide connectivity to remote locations, which led to an increase in operational costs. Thus, the implementation of SD-WAN solutions enables organizations to simplify their network infrastructure and reduce costs. With cloud-enabled connectivity, SD-WAN technology is redefining traditional WAN models.
The virtual appliance segment in the SD-WAN market is expected to grow at a CAGR of over 73% from 2020 to 2026. As enterprises are focusing on the transformation of their network infrastructure, virtual appliances are helping these enterprises in faster deployment and easy implementation of advanced network infrastructure. Virtual appliances reduce the capital expenditure and operational expense of enterprises required for managing enterprise network infrastructure. The companies are deploying virtual appliances to meet the rising demand for business-critical applications and workforce mobility.
The hybrid cloud deployment in the SD-WAN market is expected to grow rapidly over the coming years as it enables organizations to deploy on-premise cloud to host critical workloads. Hybrid cloud architecture combines the functionalities of both private & public cloud architecture, thus acting as a viable option for enterprises that want to leverage both. The hybrid architecture holds a great potential for organizations that are concerned about the security of their sensitive data. Organizations are deploying hybrid WAN to take advantage of its efficiencies in route selection and to improve business performance by allowing path selection for traffic movement.
The manufacturing sector is anticipated to witness a growth rate of over 60% during the forecast timeline due to the growing adoption of IoT devices across production facilities. The SD-WAN solution helps manufacturing companies to remain competitive by improving connectivity across remote locations. Organizations are deploying SD-WAN solutions to provide optimized network connectivity to extensive machines and connected devices. Due to advancements across the manufacturing industry, manufacturing companies are deploying advanced network solutions to conduct network traffic prioritization and simplify network management.
source - https://www.newswire.com/news/sd-wan-market-growth-predicted-at-over-60-till-2026-global-market-21147355
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