P&S Market Research: Global SD-WAN Market Size Forecasted to Reach $9,691 Million by 2023
The SD-WAN market size is expected to cross $9.6 million by 2023 according to the market research report published by P&S Market Research. The market is driven by factors such as the demand for cost-effective WAN management solutions, need for simplified network architecture, increasing adoption of cloud technologies, end-to-end network security and visibility are driving the market globally.
Based on appliances, the SD-WAN market is classified into the product (WAN infrastructure, and SD-WAN control and overlay) and service (CSP SD-WAN managed and cloud-managed SD-WAN). SD-WAN products accounted for larger revenue share in the SD-WAN market in 2017, and are also expected to contribute larger revenue during the forecast period. However, the market for SD-WAN service is expected to witness higher CAGR of 97.0%, during the forecast period.
Based on the industry, the SD-WAN market is segmented into IT & telecom, insurance (BFSI), government, healthcare and others, where “others” include banking, financial services, defense, retail, and manufacturing industry. The IT & telecom accounted for nearly 40% revenue of the SD-WAN market in 2017, owing to the evolving telecommunications and information technology, and demand for greater bandwidth for high-performance applications. The market is expected to witness potential growth from IT & telecom industry during the forecast period.
