SD-WAN Market to Register 38.6% CAGR during 2020

SD-WAN Market to Register 38.6% CAGR during 2020–2030

The software-define wide area network (SD-WAN) market is expected to advance at a CAGR of 38.6% during the forecast period (2020–2030). At this rate, the market is expected to reach $43.0 billion by 2030 from $1.4 billion in 2019. The key factors driving the market growth include increasing penetration of internet, surging adoption of bring-your-own-device (BYOD) policy at workplaces, rising need for simplified enterprise network architecture, growing utilization of data and internet of things (IoT), escalating demand for network privacy, and rising deployment of cloud-based solutions.

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One of the prime reasons behind the SD-WAN market growth is the amplifying usage of IoT and big data technologies. The challenges associated with IoT and big data, including high implementation costs, lack of knowledge, issues with the management and handling of the data, and security and data privacy, can be mitigated through the adoption of SD-WAN solutions.

These solutions manage these challenges via centralized management and control, zero-touch provisioning (automatically configuring the devices with minimal human intervention), and minimization of risks. Another factor supporting the SD-WAN market growth is the surging requirement for network privacy and visibility.

The increasing volume of data has increased the threat for a wide range of mission-critical assets like enterprise information and databases. Conventional WAN solutions are not qualified to protect the network from intensifying threats and are not sufficient to provide effective security control for cloud applications. Deployment of SD-WAN solutions helps in measuring and monitoring network traffic and they also offer deep visibility to IT departments into WAN and enable them to rapidly pinpoint a security attack.

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