Home Networking service Software Defined Networking Market To Reach $ 72,630 Million Globally By 2027...

Software Defined Networking Market To Reach $ 72,630 Million Globally By 2027 At A CAGR Of 28.2%

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Software-defined networking

Increased adoption of cloud computing, increased investment in virtualization of software-defined network functions to reduce capital expenditure.

PORTLAND, PORTLAND, OR, UNITED STATES, August 25, 2021 /EINPresswire.com/ – The main growth drivers of the software-defined networks market are CSP’s investment in SDN technology to automate network infrastructure, significant reduction in CAPEX and OPEX, increasing demand for cloud services, data center consolidation and server virtualization, increasing demand enterprise mobility to improve the productivity of field services.

Increasing adoption of cloud computing, increasing investment in virtualization of software-defined network functions to reduce capital expenditure are the major factors driving the market growth.

The global software-defined networks market generated $ 9.99 billion in 2019 and is expected to generate $ 72.63 billion by 2027, with a CAGR of 28.2% from 2020 to 2027.

Based on industry vertical, the information and telecommunications technology segment accounted for the highest market share, contributing more than two-fifths of the global software-defined network market in 2019, and is expected to maintain its dominant share by 2027. This is attributed to huge data generated by IoT, increased need to improve agility and innovation, and increased need to improve employee collaboration. However, the consumer goods and retail segment is expected to grow at the highest CAGR of 32.9% during the forecast period. This is due to the increasing demand for potable water from the residential sector and other municipal sector applications.

On a component basis, the solutions segment contributed the largest market share in 2019, accounting for over three-fifths of the global software-defined networks market, and is expected to maintain its leading status during the forecast period. . This is attributed to the increased adoption of software-defined network solutions by enterprises and communication service providers to dramatically speed up the delivery time of new applications and services. However, the service segment is expected to post the highest CAGR of 30.90% from 2020 to 2027. This is due to the growth in demand from companies to develop strategy for networks.

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Based on region, North America region held the largest share of the global software-defined networking market, contributing nearly two-fifths of the total share in 2019, and will maintain its leadership position during the period. forecast. This is due to the increase in the adoption of advanced technologies in various industry verticals, the increase in the adoption of cloud computing and mobility solutions, and the increased need for management of network for heavy network traffic. On the other hand, the Asia-Pacific region is expected to post the fastest CAGR of 32.60% from 2020 to 2027. This is attributed to the increase in the number of start-ups and the ramping up of implementation. implementation of new and advanced technologies such as virtualization services and mobility solutions among the work system of companies in this region.

Profile of key 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.

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Finally, this report provides market information in the most comprehensive way. The structure of the report has been maintained to provide maximum business value. It provides critical information on market dynamics and will enable strategic decision making for existing market players as well as for those who wish to enter the market.

Covid-19 scenario:

1. The boom in cloud computing by various organizations during the COVID-19 pandemic has dramatically increased the implementation of software-defined network solutions among cloud service providers.
2. Investments in network function virtualization and software-defined networks have increased dramatically with the increase in Internet traffic resulting from the pandemic.

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