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(I-SoftwareNews.Com, December 12, 2019 ) MarketsandMarkets forecasts the global SDx market size to grow from USD 51.7 billion in 2019 to USD 160.8 billion by 2024, at a CAGR of 25.5% during the forecast period. The major factor expected to drive the growth of the SDx market is the increasing demand for virtualization and cloud in data centers, which is propelling the adoption of SDx solutions. Hence, enterprises owing to their ability are providing unified management of all data center components, such as networking, server, storage, security, and other resources. Large-scale IT infrastructure users such as cloud service providers, telecommunication operators, and enterprises are increasingly using SDx solutions.
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Organizations are understanding that to compete in today’s competitive global market to build brand awareness, they need to be able to opt for business models that are cost-effective and reduce their product’s time-to-market. They are widely adopting SDx solutions to achieve IT agility, intuitive administration, autonomous management, and cost-efficiency.
By type, the Software-Defined Wide Area Network (SD-WAN) segment is expected to grow at the highest growth rate during the forecast period. The traditional Information Technology (IT) and Wide Area Network (WAN) network were equipped for on-premises business solutions, which are hosted on data centers and branch sites. Multiprotocol Label Switching (MPLS) has been used by enterprises for connecting branch offices and data centers located at a regional level, but with high costs of implementation and management. Hence, the demand for SD-WAN solutions is growing immensely across every line of businesses to manage the complex and diverse network infrastructure at a low cost. The cloud application demands more bandwidth and low latency while optimizing the bandwidth, which is fulfilled by SD-WAN solutions.
By end user, the service providers segment is expected to grow at the highest growth rate during the forecast period. There is an increasing trend of the adoption of SDx solutions by telecom and cloud service providers because of the capabilities that have boosted the overall network capacity potential by delivering flexibility in bandwidth and virtualization capabilities (of software, networking, and storage) for offering software and network services for various clients.
The SDx market has been witnessing tremendous growth in countries, such as the US and Canada. North America is estimated to hold the largest market size in 2019, due to the high rate of technology adoption in the region, helping enterprises virtualize their IT infrastructure and facilitate network management, thereby eliminating hardware and data-storage hassles. Moreover, North America is home to many technological innovators. Most of the leading market players, such as Microsoft, IBM, Oracle, Cisco, HPE, Dell EMC, and Juniper Networks, have their headquarters in this region.
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