New York City, NY -- (SBWIRE) -- 08/21/2020 -- Due to the rising adoption of internet of things (IoT) and the growing utilization of big data, the valuation of the global SD-WAN market is predicted to increase from $1.4 billion to $43.0 billion from 2019 to 2030. Further, the market will demonstrate a CAGR of 38.6% between 2020 and 2030. Big data and IoT help businesses in monitoring the utilization of their products by consumers and gaining valuable insights from the analysis of this information, offering a customized customer experience, and tracking their various operations.
Additionally, the adoption of these technologies allows the real-time monitoring of company assets. As the big data and IoT technologies bring them a host of numerous challenges such as data handling and management, security concerns, data privacy, demand for advanced technical expertise and knowledge, and high implementation costs, the rising integration of these technologies is massively boosting the progress of the SD-WAN market.
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* Historical and the present size of the SD-WAN market
* Future potential of the market through its forecast for the period 2020– 2030
* Historical and the present size of the market segments and understand their comparative future potential
* Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
* Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
* Major players operating in the market and their service offerings
* Recent strategic developments by the major players in the market
SD-WAN effectively resolves these issues with the help of risk minimization, centralized management and control, and zero-touch provisioning. In addition to this, SD-WAN solutions simplify device and network security management, provide deep visibility into network performance, which allows the information technology (IT) professionals to easily detect network problems and security threats, and integrate application filters, firewalls, and unified threat management (UTM) functionality.
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The current COVID-19 crisis is severely affecting the progress of the SD-WAN market. This is because businesses operating in various sectors have had to either scale down or shut down their operations because of the lockdown initiated in several countries for controlling the spread of the virus. Because of this reason, companies are incurring huge financial losses and are therefore, reducing their IT spending, including their expenditure on SD-WAN solutions. Moreover, as most of the employees are working remotely (from home), the requirement for advanced networking solutions is very low.
Globally, the North American SD-WAN market is currently the most prosperous one, on account of the presence of several well-established SD-WAN solution providing firms, favorable government policies for 5G adoption, quick integration of various advanced technologies, and the increasing need for simple and hassle-free networking operations in the region. In the near future, the market will demonstrate the highest CAGR in the Asia-Pacific (APAC) region. This is because of the rising investments being made in the IT sector, increasing implementation of supportive government policies for 5G, rapid digital transformation in enterprises, expanding operations of market players, and the ballooning popularity of cloud computing and connected devices in the region.
The research includes detailed analysis of;
Based on Offering
Solution
Software
Appliance
Physical
Virtual
Hybrid
Service
Consulting
Implementation
Training and support
Based on Deployment
On-Premises
Cloud
Hybrid
Based on Use Case
Branch Connectivity
Application Control
Security
Network Operations Visibility
Based on Industry
Retail
Manufacturing
Healthcare
Banking, Financial Services, and Insurance (BFSI)
Information Technology (IT) & Telecom
Government
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