MarketsandMarkets forecasts the Software Defined Networking Market size to grow from USD 8.8 billion in 2018 to USD 28.9 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 26.8% during the forecast period. The growth factors for the SDN market include the increasing demand for network management and control along with increase in data centers deployment, rapid growth in network traffic, and a need for network management system for handling its complexities.
Many players have their own SDN solutions such as Cisco ACI by CISCO, Agile-controller for Campus data center network by Huawei, Blue Planet SDN solutions by Ciena, and Junos OS by Juniper Networks. The size and complexity of network infrastructure are bound to increase with the increasing number of geographically spread assets, thereby increasing the demand for SDN and NFV solutions.
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The SDN via API segment is projected to grow at the highest rate during the forecast period, as it enables the operators to manage the entire network and devices consistently, regardless of the complexity of the underlying network technology. Additionally, the open APIs support a wide range of applications, including cloud orchestration, OSS/BSS, SaaS, and business-critical networked apps.
The data center segment is projected to grow at the highest rate during the forecast period, as these the major end users of the SDN framework owing to increased adoption of SDN in the evolving software-defined data center (SDDC). The rising usage of SDN in the data centers for handling congestion, gaining visibility and control over the flows in a network, and managing the throughput and connectivity is leading the market growth.
The APAC SDN market is projected to grow at the highest CAGR during the forecast period, primarily driven by the increasing adoption of SDN solutions and services in China and Japan. The growing 4G network, rising broadband connectivity, and presence of large number of data centers are also driving the market.
The enterprise customers have been categorized into various verticals, such as BFSI, manufacturing, retail, healthcare, education, transportation and logistics, energy & utilities, and others. The enterprise customers are catered by the service providers such as cloud service providers and the SDN technology providers. The SDN startups and managed network providers are also entering the SDN value chain. The BFSI vertical is expected to grow at the highest CAGR during the forecast period. The BFSI vertical is striving to become more customer-centric in its approach to achieve a competitive advantage over competitors. The increasing number of digital transformation initiatives in the vertical is expected t drive the adoption of cloud computing, big data analytics, and IoT, to offer enhanced customer experience.
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