The Software Defined Networking Market is valued at US$ 1,573.0 Mn in 2022. Software defined networking (SDN) is an approach to network management that allows dynamic and programmatically efficient network configuration to enhance network performance and monitoring making it more similar to cloud computing than conventional network management. This helps operators to manage the entire network consistently irrespective of underlying network technology. This paradigm enables network administrators to establish data flow control across the entire network instead of individual devices. This also helps in creating secure paths for data flow with relative ease.
Global Software Defined Networking Market: Drivers
Mobile network operators have been able to upgrade their existing systems as a result of the rising use of mobile data, enabling them to manage to expand their consumer base as well as applications and devices. Customers are using their phones to make financial transactions, which means that switches with high speeds and low latency are needed. Operations Support Systems (OSS) are used by telecom service providers to support and manage their businesses by providing services. However, it is difficult to re-architect the entire network to accommodate OSS solutions. Organizations, for example, Deutsche Telekom are meaning to lay out a SDN model to work on network activities while diminishing expenses. The global software defined network (SDN) market is expected to expand as a result of these factors over the forecast period.
Global Software Defined Networking Market: Opportunities
A policy known as "Bring Your Own Device" (BOYD) allows employees to use their personal devices to access company applications and information. In the SDN market, BOYD is a new trend that offers significant opportunities. Due to the risk of the company's confidential data and information being leaked, many businesses do not permit employees to bring their own devices into the workplace. However, they are allowing a Bring Your Own Device (BYOD) policy within their organization due to the security advantages of SDN technology. It is anticipated that by the next few years, the majority of IT organizations will allow their employees to use BYOD because they will become more accustomed to using it and may become more productive as a result.
Global Software Defined Networking Market: Restraints
As of now, there are no specific guidelines for SDN regulators, which is a significant issue in tracking down the best and the most versatile norm for the climate. Administrators are concentrating on developing individualized solutions and spending more time looking for and implementing the best SDN solution. For wireless connectivity, conventional networking necessitates separate networks and management applications. In addition, a lot of SDN offerings are still incomplete and necessitate a lot of customization. As a result, numerous IT organizations are developing their own SDN technology standards. As a result, the global software defined networking (SDN) market is anticipated to experience growth restraints during the forecast period.
Global Software Defined Networking Market- Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has radically altered people's work, daily lives, and the environment around them. As a number of vendors increase their investments in software defined networking and network function virtualization to keep up with the rising internet traffic caused by the coronavirus, software defined networking technology is expected to see a lot of demand in the coming years. For instance, the demand for AT&T's virtual private network (VPN) service increased by 700% in the past few weeks as more people started working from home, according to a report that was made public. Organizations that had previously implemented software defined networking were able to quickly adapt to the new traffic patterns and network requirements brought about by work-from-home regulations during the COVID-19 pandemic. Those organizations were able to deal with the ongoing pandemic and continue operating economically successfully thanks to software defined networking.
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Key Takeaways:
The Software Defined Networking Market was valued at US$ 1,573.0 Mn in 2022 and is forecast to reach a value of US$ 7,662.0 Mn by 2030 at a CAGR of 21.89% between 2023 and 2030.
Global Software Defined Networking Market Trends:
Key market players in the market are focused on the development of open source SDN, in order to expand their consumer base and gain a significant advantage. For instance, Open Network Operating System (ONOS) is an open-source SDN controller used to build next-generation SDN/NFV solutions. It acts as an extensible, modular, distributed SDN controller.
Global Software Defined Networking Market - Impact of Coronavirus (Covid-19) Pandemic
Since the COVID-19 outbreak, businesses' adoption of remote working models has significantly increased demand for cloud-based solutions; However, revenue has decreased significantly in a number of industries in 2020, including retail, manufacturing, BFSI, and others. Organizations are putting more in cloud-based examination and confirmation, edge registering, and artificial intelligence fueled systems administration advancements as the remote working model extends, which is expected to help the concentrated on market.
Global Software Defined Networking Market: Competitive Landscape
Alcatel-Lucent, Huawei Technologies, Cisco Systems, Inc., Juniper Networks, NEC Corporation, IBM Corporation, Google Inc., VMware, and Hewlett Packard Company.
Key Developments
- In January 2022, Cisco acquired Opsani, a software startup for businesses that is privately owned. As a result of the acquisition, Cisco AppDynamics will be able to expand its product and engineering teams, enhance its platform's capabilities for effectively monitoring cloud-native, enterprise-scale ecosystems, and expedite the distribution and accessibility of the performance and enhancement that customers require.
- In December 2021, Broadcom Inc. announced its intention to buy privately held AppNeta Inc. AppNeta is a well-known SaaS-based network monitoring and evaluation solution for distributed organizations. It gives IT professional’s precise, end-to-end insight into network management from the point of view of end users, regardless of the networking they use to connect applications.
