Software Defined Networking Market Size to Witness Robust Growth with the Emergence of 5G Technology | CAGR of 28.2%
Agility, cloud adoption, network complexity, cost reduction, and operational efficiency drive the software-defined networking market.
PORTLAND, OREGON, UNITED STATES, July 11, 2023/EINPresswire.com/ — The size of the Global software defined networking Market, which was estimated to be worth $9,995 million in 2019, is expected to increase to $72,630 million by 2027, rising at a CAGR of 28.20% between 2020 and 2027.
Numerous reasons, including the rising popularity of cloud computing and increased expenditures in software-defined networking and network function virtualization to cut down on capital expenditure and operating costs, are fueling the expansion of the software defined networking market. Additionally, the widespread use of mobile devices and cloud services is fueling an increase in the demand for mobility services among businesses, which is boosting the market for software defined networking. Additionally, the COVID-19 epidemic had a significant influence on internet usage, which increased bandwidth demand.
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One of the key drivers fueling the growth of the software-defined networking (SDN) market is the rising demand for network agility and flexibility. Traditional hardware-based networking architectures often lack the ability to adapt quickly to changing business needs. SDN offers a software-based approach that enables organizations to dynamically control and manage their networks, allowing for greater agility in deploying, scaling, and reconfiguring network resources.
The widespread adoption of cloud computing is another major driver for the SDN market. As businesses increasingly rely on cloud-based services and applications, the need for efficient and scalable network infrastructure becomes critical. SDN provides a centralized control plane that can intelligently manage network traffic flows, optimize performance, and enhance security in cloud environments, making it an ideal solution for cloud service providers and enterprises migrating to the cloud.
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With the proliferation of connected devices, the Internet of Things (IoT), and big data applications, network complexity and traffic volume are rapidly increasing. Traditional network architectures struggle to cope with the scale and diversity of modern traffic patterns. SDN offers a more scalable and programmable network infrastructure that can efficiently handle large volumes of data and accommodate diverse traffic types, thereby addressing the challenges posed by complex and dynamic network environments.
SDN brings significant cost reduction and operational efficiency benefits to organizations. By decoupling the network control plane from the underlying hardware, SDN enables centralized network management and automation. This eliminates the need for manual configuration of individual network devices, reducing the time and effort required for network provisioning and troubleshooting. SDN’s software-based approach also enables organizations to leverage commodity hardware, leading to cost savings compared to proprietary networking equipment.
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Some of the key software defined networking industry players profiled in the report include Arista Networks Inc., Broadcom Inc., Cisco Systems, Inc., Citrix Systems, Inc., Dell Technologies, Inc., Extreme Networks, Inc., Hewlett Packard Enterprise Development LP, International Business Machines Corporation, Juniper Networks, Inc., and NEC Corporation. This study includes market trends, software defined networking market analysis, and future estimations to determine the imminent investment pockets.
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Allied Analytics LLP
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