The industry segment of the SD-WAN market is categorized into retail, government, manufacturing, healthcare, IT and telecom, and banking, financial services, and insurance (BFSI). Under this segment, the healthcare category is expected to showcase the fastest growth during the forecast period.
This can be attributed to the booming demand for improved patient experience, escalating need to fulfill the regulatory compliance, growing usage of remote medical care solutions, burgeoning need for centralized monitoring and management that enables complete visibility of the WAN, increasing adoption of cloud-supported applications, and rising implementation of telehealth services.
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According to P&S Intelligence, North America dominated the SD-WAN market in the past, due to the vast adoption of next-generation technologies, high requirement of businesses to simplify their network operations, and presence of established network providers in the region. Moreover, the escalating focus on the introduction of SD-WAN solutions and increasing government support toward setting up 5G network infrastructure also supports the usage of SD-WAN solutions in the continent.
For example, in March 2020, the U.S. Federal Communication Commission (FCC) introduced the National Strategy to Secure 5G, which focuses on the implementation, development, and management of 5G communication infrastructure. Whereas, Asia-Pacific (APAC) is expected to demonstrate the fastest growth in the SD-WAN market during the forecast period.
This can be primarily ascribed to the rising deployment of wireless devices, surging usage of enterprise network solutions, mounting emphasis of small and medium enterprises (SMEs) on the adoption of cloud solutions, escalating awareness regarding network security, mushrooming IT expenditure, and soaring popularity of bring-your-own-device (BYOD) culture at workplaces in the region.
Market players in the region are collaborating with cloud service providers to aid businesses in securing hybrid IT network and accelerating digital transformation. Thus, the surging adoption of IoT and big data and rising shift toward cloud-based WAN solutions from traditional WAN will augment the need for SD-WAN solutions in the foreseeable future.
Source: P&S Intelligence
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