Software Defined Networking Market 2021: Industry Value Projected to Reach $72.63 Billion by 2027, at CAGR of 28.20%

(MENAFN- EIN Presswire)

Software defined networking Market

The rising adoption of IoT, rising demand for hybrid clouds and increasing development of open source SDN will further create new opportunities for the market.

PORTLAND, PORTLAND, OR , UNITED STATES, October 18, 2021 /EINPresswire.com / -- 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 the need for mobility services and an increase in bandwidth usage due to covid-19 fuel the market growth. Nevertheless, legacy network equipment issues and security risks due to the centralized nature of data plane impede the market growth. However, an 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 in new opportunities in the near future.

The global software-defined networking market garnered $9.99 billion in 2019 and is projected to generate $72.63 billion by 2027, witnessing a CAGR of 28.2% from 2020 to 2027.

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, an 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 an increase in a number of start-ups and an upsurge in the implementation of new & advanced technologies such as virtualization services and mobility solutions among a working system of businesses in this region.

Based on industry vertical, the IT & telecom segment accounted for the highest market share, contributing to more than two-fifths of the global software defined networking market in 2019, and is expected to maintain its dominant share by 2027. This is attributed to enormous data generated by IoT, surge in need to improve agility & innovation and rise in need to enhance employee collaboration. However, the consumer goods and retail segment is anticipated to grow at the highest CAGR of 32.9% during the forecast period. This is owing to the growing demand for safe drinking water from the residential and other municipal sector applications.

Download Sample Report (Get Full Insights in PDF - 322 Pages) at:

Based on components, the solution segment contributed to the largest market share in 2019, accounting for more than three-fifths of the global software-defined networking market, and is projected to maintain its lead status during the forecast period. This is attributed to increasing in adoption of software-defined networking solutions by enterprises and communication service providers to significantly accelerate the time for delivering new applications and services. However, the services segment is estimated to manifest the highest CAGR of 30.90% from 2020 to 2027. This is owing to the growth in demand by enterprises to develop a strategy for networks.

Major industry players - Arista Networks Inc., Broadcom Inc., Cisco Systems, Inc., Citrix Systems, Inc., Dell Technologies, Inc., Extreme Networks, Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Juniper Networks, Inc., and NEC Corporation.

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.

For Purchase Enquiry:

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Thanks for reading this article; you can also get an individual chapter-wise section or region wise report versions like North America, Europe, or Asia.

Similar Reports -

1. Professional Service Automation (PSA) Software Market

2. Travel and Expense Management Software Market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
+18007925285 ext.
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

MENAFN18102021003118003196ID1102986713