Global Software-Defined Networking (SDN) Market Report 2023: Market to Grow from $24 Billion in 2023 to $60 Billion by 2028 - Rising Implementation of SDN for 5G, Increasing Demand for Hybrid Clouds

News provided by

Jan 17, 2024, 18:15 ET

DUBLIN, Jan. 17, 2024 /PRNewswire/ -- The "Global Software-Defined Networking Market by Offering (SDN Infrastructure, Software, Services), SDN Type (Open SDN, SDN via Overlay, SDN via API, Hybrid SDN), Application (SD-WAN, SD-LAN, Security), End-user, Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global Software-Defined Networking market is expected to grow from USD 24.5 billion in 2023 to USD 60.2 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 19.7%

This market study provides comprehensive coverage of the SDN market across various segments. Its objective is to estimate market size and growth potential within different segments, including offering, SDN Type, application, end-user, vertical, and region.

Software-defined networking (SDN) represents a revolutionary approach to network management and configuration. Unlike traditional networking methods, SDN separates the control plane from the data plane, facilitating centralized network provisioning, management, and automation. This innovative paradigm shift has significantly altered the networking landscape, driving advancements and reshaping industry dynamics.

The exponential surge in data traffic and the widespread adoption of cloud-based services are fueling the demand for agile and scalable network infrastructures. SDN addresses this need by enabling automated provisioning, efficient resource allocation, dynamic traffic management, and enhancing network performance and adaptability.

Numerous global SDN players have recognized the Asia-Pacific region as a strategically significant area due to its substantial IT infrastructure investment capacity. SDN represents a substantial shift in networking technology, with a growing trend of SMEs in Asia-Pacific adopting SDN technologies, leading to economic benefits and fostering prosperity.

The report also conducts a thorough competitive analysis of key market players, offering insights into their company profiles, notable product and business observations, recent developments, and key market strategies.

The report offers a detailed assessment of market shares, growth strategies, and offerings from leading companies such as Cisco (US), Huawei (China), VMWare (US), Dell EMC (US), Juniper Networks (US), IBM (US), Ericsson (Sweden), Ciena (US), HPE (US), Nokia (Finland), Arista Networks (US), Extreme Networks (US), Comcast (US), Citrix (US), NEC (Japan), Oracle (US), Palo Alto Networks (US), NVIDIA (US), Fortinet (US), Fujitsu (Japan), HiveIO (US), Lenovo (Hong Kong), Pica8 (US), Scale Computing (US), Canopus Networks (Australia), Zeetta Networks (UK), Trustgrid (US), and COSGrid Networks (India).

Among offering, services segment to grow at the highest CAGR during the forecast period

As businesses increasingly rely on digital technologies and data-driven operations, the demand for SDN services continues to expand. The growing demand for expert guidance and integration services in the implementation of SDN solutions within existing infrastructures will also drive the market.

Among the SDN Type, the Open SDN segment holds the highest market share during the forecast period

The key driver for open SDN is vendor neutrality and interoperability. Open SDN solutions adhere to open standards, ensuring compatibility between various vendors' hardware and software components. This vendor-agnostic approach gives businesses the freedom to choose the best-of-breed solutions without being locked into a single vendor. The emphasis on interoperability promotes healthy competition, fosters innovation, and prevents vendor monopolies, making it an attractive choice for industries seeking flexibility and innovation in their network infrastructure.

Premium Insights

Increasing Adoption of Cloud Services and Growth of Data Centers to Drive Market
BFSI Segment to Lead Market During Forecast Period
Software and BFSI Segments to Lead Market in 2023
North America to Dominate Market in 2023

Use Case Analysis

Use Case 1: Cisco Improved Network Segmentation for German Automotive Group
Use Case 2: Juniper Accelerated Activation of Ebay Classifieds Group's Business Platforms
Use Case 3: NEC Helped Kanazawa University Hospital Keep Pace with Rapid Developments Occurring in Clinical Medicine
Use Case 4: HPE Helped Deltion College Drive Growth and Comply with Changing Regulations
Use Case 5: Huawei Helped Lincoln University Increase Wired Access Bandwidth by Ten Times

Market Dynamics

Drivers

Need to Simplify Network Management
Need to Optimize CapEx and Reduce OpEx
Rising Demand for Cloud Services, Data Center Consolidation, and Server Virtualization
Increasing Need for Enterprise Mobility to Enhance Productivity for Field-based Services

Restraints

Increasing Security Concerns
Lack of Skilled Workforce

Opportunities

Growing Adoption of IoT
Rising Implementation of SDN for 5G
Increasing Demand for Hybrid Clouds
Development of Open-Source SDN

Challenges

Difficulties in Transitioning from Traditional Network to SDN
Reliability Concerns for SDN Network
Software-Defined Networking Market: Evolution
Software-Defined Networking Market: Ecosystem Map

Industry Standards

Open Networking Foundation
Internet Engineering Task Force
Opendaylight
International Telecommunication Union - Telecommunication Standardization Sector
Internet Research Task Force Software-Defined Networking Research Group
Open Virtualization Format
Organization for the Advancement of Structured Information Standards
European Telecommunications Standards Institute/ Industry Specification Group - Network Function Virtualization

Technology Analysis

Artificial Intelligence (AI) and Machine Learning (ML)
5G
Edge Computing
Complementary Technologies
Software-Defined Wide Area Networking (SD-WAN)
Network Functions Virtualization (NFV)
Adjacent Technologies
Intent-based Networking (IBN)
Blockchain
Containerization and Microservices

Best Practices in Software-Defined Networking Market

Comprehensive Network Assessment
Appropriate SDN Architecture
Open Standards and Interoperability
Network Segmentation and Virtualization
Automation and Orchestration

Company Profiles

Key Players

Cisco
Huawei
VMware
Dell EMC
Juniper Networks
IBM
Ericsson
Ciena
HPE
Nokia
Arista Networks
Extreme Networks

Other Players

Comcast
Citrix
NEC
Oracle
Palo Alto Networks
NVIDIA
Fortinet
Fujitsu
Hiveio
Lenovo
Pica8
Scale Computing
Canopus Networks
Zeetta Networks
Trustgrid
Cosgrid Networks

For more information about this report visit https://www.researchandmarkets.com/r/ssejyt

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets