Comprehensive Market Research Report on Software Defined Networking 2024

The Business Research Company's Software Defined Networking Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 20, 2024 /EINPresswire.com/ -- The software defined networking (SDN) market has experienced significant expansion in recent years, projected to grow from $26.78 billion in 2023 to $32.51 billion in 2024, showcasing a compound annual growth rate (CAGR) of 21.4%. This growth is driven by the increasing demand for centralized network management, the necessity to simplify network operations, and the rise of network virtualization technologies amid escalating security risks and threats.

Rising Demand for Network Automation and Security Solutions
The exponential growth of the SDN market is expected to continue, reaching $69.98 billion by 2028 at a CAGR of 21.1%. Factors contributing to this growth include the surge in demand for network automation, efficient security solutions, network programming capabilities, the proliferation of cloud computing, and a heightened emphasis on network analytics. Emerging trends in this period include the integration of artificial intelligence (AI) into networking, expanded capabilities in network automation, strategic partnerships, technological advancements, and the increasing adoption of SDN within the telecommunications sector.

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Key Players and Innovations
Major players such as Dell Technologies Inc., Huawei Technologies Co. Ltd., and Cisco Systems Inc. are focusing on pioneering technologies like cloud-native SDN controllers to maintain their competitive edge. For example, the European Telecommunications Standards Institute introduced TeraFlowSDN, a cloud-native SDN controller optimized for transport networks, enhancing network management and orchestration capabilities.
The adoption of cloud services is anticipated to drive market growth significantly. Cloud services enable scalable, cost-effective access to computing resources over the Internet, supporting efficient data, application, and IT infrastructure management. This trend is underscored by Eurostat’s report indicating a notable increase in cloud computing adoption across enterprises in the European Union.

Market Segmentation
The software defined networking market is segmented as follows:
• Type: Open Software Defined Networking, Software Defined Networking via Application Programming Interfaces (API), Software Defined Networking via Overlay
• Component: Solution, Service
• Organization Size: Small and Medium Enterprises (SMEs), Large Enterprises
• Application: Banking, Financial Services and Insurance (BFSI), Information Technology Enabled Services (ITeS), Education, Retail, Manufacturing, Government and Defense, Healthcare, Other Applications

Geographical Insights: Asia-Pacific at the Forefront
North America led the software defined networking market in 2023, with Asia-Pacific expected to exhibit the fastest growth during the forecast period. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities.

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Software Defined Networking Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Software Defined Networking Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on software defined networking market size, software defined networking market drivers and trends, software defined networking market major players, competitors' revenues, market positioning, and market growth across geographies. The software defined networking market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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