Software Defined Networking Market Insights, Size, Demand, Share 2024-2033

"The new report published by The Business Research Company, titled ""Software Defined Networking Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the software defined networking market size has grown exponentially in recent years. It will grow from $26.78 billion in 2023 to $32.51 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The software defined networking market size is expected to see exponential growth in the next few years. It will grow to $69.98 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%.

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Cloud Services Fueling Growth In The Software Defined Networking Market
The increase in demand for cloud services is expected to propel the growth of the software defined networking market going forward. Cloud services encompass a wide range of computing resources and applications that are readily available over the Internet on demand. The increase in demand for cloud services is driven by the need for scalable, cost-effective, and accessible computing resources, enabling organizations to efficiently manage data, applications, and IT infrastructure. Cloud services in software-defined networking enhance network flexibility and scalability, enabling dynamic resource allocation, centralized management, and efficient delivery of services. For instance, in December 2023, according to Eurostat, a Luxembourg-based government organization, 45.2% of enterprises within the European Union adopted cloud computing services in 2023, marking a 4.2% increase from 2021. Notably, the adoption of these services was particularly high among large enterprises, with 77.6% reporting purchases, indicating a 6% rise compared to 2021. Therefore, the increase in demand for cloud services is driving the growth of the software defined networking market.

Innovative Technologies Shaping The Software Defined Networking Market
Major companies operating in the software defined networking market are increasing their focus on developing innovative technologies, such as cloud-native SDN (Software-Defined Networking) controllers, to gain a competitive edge in the market. A cloud-native SDN (Software-Defined Networking) controller is a networking control plane that is designed and optimized to operate within cloud-native environments. For instance, in February 2023, the European Telecommunications Standards Institute, a France-based standardization institute, announced the second release of TeraFlowSDN, an innovative full-featured software-defined cloud-native SDN robust orchestrator and controller specifically designed for transport networks. It is a cloud-native SDN controller that is open-source, micro-service-based, and designed to be carrier-grade. TeraFlowSDN integrates with various network components and provides advanced features for network management and orchestration, making it a significant contribution to the field of SDN.

The software defined networking market covered in this report is segmented -

1) By Type: Open Software Defined Networking, Software Defined Networking Via Application Programming Interfaces (API), Software Defined Networking Via Overlay
2) By Component: Solution, Service
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Banking, Financial Services And Insurance (BFSI), Information Technology Enabled Services (ITeS), Education, Retail, Manufacturing, Government And Defense, Healthcare, Other Applications

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Major companies operating in the software defined networking market are Dell Technologies Inc., Huawei Technologies Co. Ltd., Cisco Systems Inc., Broadcom Inc., Hewlett Packard Enterprise (HPE), Nokia Corporation, VMware Inc., Palo Alto Networks Inc., Juniper Networks Inc., Arista Networks Inc., Fortinet Inc., Ciena Corporation, Citrix Systems Inc., Avaya Inc., F5 Networks Inc., Check Point Software Technologies Ltd., Nutanix Inc., Riverbed Holdings Inc., Extreme Networks Inc., Zscaler Inc., Silver Peak Systems Inc., Versa Networks Inc., Aryaka Networks Inc., Gigamon Inc., Masergy Communications Inc.

Contents of the report:
1. Executive Summary
2. Software Defined Networking Market Report Structure
3. Software Defined Networking Market Trends And Strategies
4. Software Defined Networking Market - Macro Economic Scenario
5. Software Defined Networking Market Size And Growth
…..
27. Software Defined Networking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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