According to the new report of Markets and Markets, software-defined wide area network market is expected to reach 4.1 billion US$ by the year 2023 with the CAGR of 32.7% from 2019 to 2023. The major factors responsible for driving the market include mobile data traffic, the increase in the demand for mobility services, the demand for cloud-based services and the focus of reducing operation cost.
The software segment is expected to see the highest growth rate during the forecast period. The end user of the market is driven by the advancements of software. Advance software offers more stability, versatility, and efficiency.
In terms of end-users service providers are expected to see the highest growth rate. Different service providers are partnering with each other to cover more ground which is broadening the horizon for the end users. The major manufacturers are also discussed in the report along with their complete business structure and product details.
North America is expected to have the highest market share in the global market of SD-WAN. United States has emerged as the largest country in terms of market share due to the implementation of SD-WAN solutions on a large scale. The implementation and adoption of SD-WAN system in different industries are driving the market.