Seattle, WA -- (SBWIRE) -- 02/28/2017 -- According to a new market research report "Software-Defined Wide Area Network (SD-WAN) Market by Component (Virtual Appliances, Physical Appliances and Hybrid), Deployment Type (On-Premises and Cloud), Technology Service (Managed and Professional), Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the SD-WAN market size is estimated to grow from USD 738.9 Million in 2016 to USD 9,066.2 Million by 2021, at an expected Compound Annual Growth Rate (CAGR) of 65.11% during the forecast period. A rising need for SD-WAN solutions, effective management of network, and need of security are increasing the demand for SD-WAN.

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"Managed services are expected to grow at the highest CAGR during the forecast period"

The SD-WAN market is expected to grow at an impressive CAGR during the forecast period. Since enterprises are focusing on improving products and solutions, the managed services segment is expected to witness a substantial growth rate during the forecast period. As managed services provide a combination of SDN-WAN to end-users, it helps in reducing the overall cost of the operations, making it flexible.

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"Manufacturing, Banking, Financial Services & Insurance (BFSI), and IT & Telecom sectors are expected to grow at high CAGRs during the forecast period"

The SD-WAN market is witnessing a potential growth in the manufacturing industry across various regions, owing to the increase in the adoption of SD-WAN application. Moreover, BFSI and IT & Telecom sectors have been early adopters of SD-WAN technologies to serve their customers better. The enterprises from manufacturing, BFSI, and IT & Telecom sectors are improving their operational efficiency and trying to reduce their operational cost.

"Asia-Pacific (APAC) is expected to witness a high growth potential during the forecast period"

North America is expected to hold the largest market share in 2016, while APAC would be the fastest maturing, in terms of CAGR. Since APAC is the fastest growing region and represents the investors with immense opportunities of growth, a lot of companies are investing in this region. The need for a reliable enterprise grade network, high performance of mission-critical cloud applications, and demand for better visibility of network performance & usage are driving the adoption of SD-WAN solutions in the APAC region.

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The major application providers in the SD-WAN market include Cisco Systems, Inc., Citrix Systems, Inc., Aryaka Networks, Inc., CloudGenix, Inc., Ecessa Corporation, Silver Peak Systems, Inc., VeloCloud, Viptela, Inc., Elfiq Networks, Inc., Peplink, and Versa Networks.

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