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(I-SoftwareNews.Com, October 26, 2018 ) The Software-Defined Networking (SDN) and Network Functions Virtualization (NFV) market is expected to grow from USD 3.68 billion in 2017 to USD 54.41 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%. The main driving factors for the market are the increasing evolution and demand in mobility, the increased network complexity and varied traffic pattern, and the surge in demand for cloud service, data center consolidation, and server virtualization.
On the basis of components, solutions segment is expected to grow at the highest CAGR during forecast period. Utilization of SDN and NFV solutions is growing, as these solutions help enterprises to monitor and control their entire network infrastructure.
In the services segment, support and maintenance service is expected to grow at the highest CAGR, whereas integration is expected to be the largest contributor among all the services. With increasing awareness among the end-users about the benefits as well as knowledge about the capabilities of SDN and NFV solution, the demand for the support and maintenance, and Integration services is expected to increase.
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On the basis of verticals, the IT Enabled Services (ITES) segment is expected to have the largest market share during the forecast period. SDN has significantly transformed the working methodology in the ITES companies and opened newer ways to access the data that is available with them. Customer service plays a huge role in the telecom and IT sector for customer retention, as it is far more cost-effective than acquiring new customers. The increasing data traffic and mobility have catapulted the need for efficient solutions to manage and control complex network infrastructure, as well as, reduce the Capital Expenditure (CAPEX) on the expansions required to the existing datacenters and IT infrastructure.
The APAC region is poised for strong growth in terms of SDN and NFV deployments over the network. The main reason behind this growth is the increasing number of data center deployments coming up in this region. Japan is said to be the biggest customer in this region, in terms of SDN and NFV revenues, but the maximum research about SDN and NFV technologies is being done in China and Korea. APAC is set to displace Europe from its second position in the SDN and NFV market in terms of revenue generation. Moreover, North America being one of the most technologically-advanced region, there are continuous advancements in technologies as well as business applications, and that is the driving growth for adoption of SDN and NFV in the region.
The SDN and NFV market report includes the competitive landscape, which presents the positioning of 26 key SDN and NFV vendors, based on their product offerings and business strategies. Some of the major SDN and NFV vendors are Nokia Corporation (Finland), Cisco Systems, Inc. (US), Ericsson AB (Sweden), Huawei Technologies Co. Ltd. (China), Intel Corporation (US), International Business Machines Corporation (US), Hewlett Packard Enterprise Co. (US), Juniper Networks (US), NEC Corporation (Japan), Pica8 (US), Brocade Communications Systems, Inc. (US), Ciena Corporation (US), Pluribus Networks (US), and Big Switch Networks, Inc. (US).
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