The software defined networking global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Software Defined Networking Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The software defined networking market size has grown exponentially in recent years. It will grow from $26.78 billion in 2023 to $32.51 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to need for centralized network management, growing need to simplify network management, growth in network virtualization technologies, rising adoption of virtualization technologies, rise in security risks and attack threats.
The software defined networking market size is expected to see exponential growth in the next few years. It will grow to $69.98 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to increased demand for network automation, demand for efficient network security solutions, demand for network programming, growth of cloud computing, and increased focus on network analytics. Major trends in the forecast period include adoption of artificial intelligence (AI) in networking, expansion of network automation capabilities, strategic partnership, technological advancement, and expansion of software-defined networking in the telecommunications sector.
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Scope Of Software Defined Networking Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Software Defined Networking Market Overview
Market Drivers –
The increase in demand for cloud services is expected to propel the growth of the software defined networking market going forward. Cloud services encompass a wide range of computing resources and applications that are readily available over the Internet on demand. The increase in demand for cloud services is driven by the need for scalable, cost-effective, and accessible computing resources, enabling organizations to efficiently manage data, applications, and IT infrastructure. Cloud services in software-defined networking enhance network flexibility and scalability, enabling dynamic resource allocation, centralized management, and efficient delivery of services. For instance, in December 2023, according to Eurostat, a Luxembourg-based government organization, 45.2% of enterprises within the European Union adopted cloud computing services in 2023, marking a 4.2% increase from 2021. Notably, the adoption of these services was particularly high among large enterprises, with 77.6% reporting purchases, indicating a 6% rise compared to 2021. Therefore, the increase in demand for cloud services is driving the growth of the software defined networking market.
Market Trends –
Major companies operating in the software defined networking market are increasing their focus on developing innovative technologies, such as cloud-native SDN (Software-Defined Networking) controllers, to gain a competitive edge in the market. A cloud-native SDN (Software-Defined Networking) controller is a networking control plane that is designed and optimized to operate within cloud-native environments. For instance, in February 2023, the European Telecommunications Standards Institute, a France-based standardization institute, announced the second release of TeraFlowSDN, an innovative full-featured software-defined cloud-native SDN robust orchestrator and controller specifically designed for transport networks. It is a cloud-native SDN controller that is open-source, micro-service-based, and designed to be carrier-grade. TeraFlowSDN integrates with various network components and provides advanced features for network management and orchestration, making it a significant contribution to the field of SDN.
The software defined networking market covered in this report is segmented –
1) By Type: Open Software Defined Networking, Software Defined Networking Via Application Programming Interfaces (API), Software Defined Networking Via Overlay
2) By Component: Solution, Service
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Banking, Financial Services And Insurance (BFSI), Information Technology Enabled Services (ITeS), Education, Retail, Manufacturing, Government And Defense, Healthcare, Other Applications
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Regional Insights –
North America was the largest region in the software defined networking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the software defined networking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the software defined networking market are Dell Technologies Inc., Huawei Technologies Co. Ltd., Cisco Systems Inc., Broadcom Inc., Hewlett Packard Enterprise (HPE), Nokia Corporation, VMware Inc., Palo Alto Networks Inc., Juniper Networks Inc., Arista Networks Inc., Fortinet Inc., Ciena Corporation, Citrix Systems Inc., Avaya Inc., F5 Networks Inc., Check Point Software Technologies Ltd., Nutanix Inc., Riverbed Holdings Inc., Extreme Networks Inc., Zscaler Inc., Silver Peak Systems Inc., Versa Networks Inc., Aryaka Networks Inc., Gigamon Inc., Masergy Communications Inc.
Table of Contents
1. Executive Summary
2. Software Defined Networking Market Report Structure
3. Software Defined Networking Market Trends And Strategies
4. Software Defined Networking Market – Macro Economic Scenario
5. Software Defined Networking Market Size And Growth
…..
27. Software Defined Networking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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