Due to the increasing need for a simplified network architecture, network security and privacy, and cost-effective network management and migration of global enterprises from traditional wide area network (WAN) infrastructure to cloud-based solutions, the global software-defined wide area network (SD-WAN) market is expected to generate $9,691.0 million revenue by 2023, compared to $676.9 million in 2017. The market is predicted to witness rapid growth during the forecast period (2018–2023), with a CAGR of 54.1%.
The mushrooming demand for cost-effective network management is one of the major factors driving the growth of the SD-WAN market. The maintenance and management of traditional WAN is expensive, while configuring it manually is complex and time-consuming. Moreover, the recent times have witnessed a growing preference for mobile and cloud-based technologies, which is further increasing the complexity of the WAN. In order to overcome this problem, businesses are adopting SD-WAN solutions, which enable them to automate the WAN configuration and decrease the gross operational cost.
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The surging need for network security and privacy across the world is another factor driving the SD-WAN market. Owing to the increasing usage of data and the rising threats to network security, the demand for SD-WAN solutions, on account of their ability to provide data security and privacy, is surging. Additionally, the capability of SD-WAN solutions to assist in the measurement and monitoring of network traffic, which allows the IT department to quickly detect a security breach, is another factor resulting in the high demand for them.
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