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.
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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.
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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