The total size of the SD-WAN market was USD 3,514.6 million in 2022, and it will reach USD 30,907.6 million in 2030, with a CAGR of 31.2% by the end of this decade, as stated by a market report by P&S Intelligence.
Network security is continuously an urgency for IT executives. With the growing data use worldwide, an extensive range of mission-critical assets, for example applications, enterprise info, databases, and more resources, are becoming susceptible to unauthorized access.
The solution category had a larger share, around 70%, in the recent past. This is mostly as a result of the shift to multi-cloud environments, acceptance of connected IoT devices, thriving compliance necessities, strong requirement for secured network infra, and strengthening emphasis on optimization of application.
Of the two kinds of solutions, software had larger share, and it will also have a faster growth in the years to come. This is mostly attributable to the high requirement for software that reinforces internet services within a corporation, for a secured connection of users with applications.
Furthermore, it allows companies to connect more than a few branch locations with a centralized network, so as to surge the perceptibility of the network, decrease the requirement for manual configuration, advance the bandwidth at a low cost, and secure the transfer of files with cloud.
The cloud category with grow at a fastest rate of over 30%, in the years to come. This would mostly be as a result of the snowballing acceptance of cloud services as a result of their competence to allow dynamic and extremely automated operations in a gainful manner.
The security category dominated the SD-WAN market, with about 40% share, in 2022. This is mostly credited to the increasing necessity for gathering and examining possible threats, monitoring and tracking events in real- time, and meeting compliance requirements, to eventually can detect cyberattacks beforehand.
North America had the largest share, over 40%. This is mostly because of the strong existence of the main players, increasing incidence of the introduction of advanced solutions, vast acceptance of next-gen technologies, snowballing support from the government for the setup of 5G infra, and strong need of organizations to reduce their networking operations.
APAC will be the fastest growing in the future. This can be ascribable to the increasing IT expenditure, supportive government initiatives in India, Japan and China for the acceptance of 5G connectivity, widespread digital transformation of enterprises, rapid acceptance of connected devices, and increasing emphasis on business development by players.
It is because of the rising acceptance of digitization, the demand for SD-WAN will continue to grow in the years to come.
