DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Worldwide Carrier SDN Market - Drivers, Opportunities, Trends, and Forecasts: 2017-2023" report to their offering.
The Worldwide Carrier SDN Market is expected to reach $9,510.3 million by 2023, growing at a CAGR of around 42.3% during the forecast period 2017-2023.
Increasing adoption of connected devices, growing data traffic, network complexities, and demand for network connectivity with higher bandwidth are forcing the network companies to focus on the development of advanced and effective SDN offerings to support telecom industry growth. Rising demand for SDN applications & services in telecom industry have been one of the major drivers.
The services & applications segment is playing an important role in fulfilling the demand of customers and has a prominent market share, which is expected to reach $4,859.8 million by 2023. A number of start-ups are entering the market for offering attractive services to the customers. Innovations in IoT and increasing R&D investments from big organizations for enhancement in network connectivity are contributing to the market growth.
The surge in new entrants has resulted in the old major players acquiring them to improve their product and service offerings. SDN controller software market is expected to reach $2,855.9 million by 2023, growing at a CAGR of 43.0% during the forecast period 2017-2023.
Regional Analysis: North America leads the market share mainly due to the advancements in technology and its adoption. North America carrier SDN market is expected to reach $3,337.2 million by 2023, growing at a CAGR of 40.1% during the forecast period 2017-2023. The developing regions such as Asia-Pacific will be boosting the market growth mainly driven by rapid smartphone adoption and increasing internet subscribers. The government initiatives for developing smart city projects in the region are the main factors contributing to the market growth. Europe is hugely spending in R&D for the infrastructure development.
- Increasing demand for mobility
- Increasing network complexities
- Data center consolidation and server virtualization
- Increasing adoption of cloud services
- Limited knowledge among end users
- Cyber security and privacy issues
- Increased adoption of private clouds
- Opportunities for SDN service providers
- Telecom operators providing innovative services
- Cisco Systems
- Huawei Technologies
- Brocade Communications Systems
- Big Switch Networks
- Pluribus Networks
- Inocybe Technologies
For more information about this report visit http://www.researchandmarkets.com/research/qb77z6/worldwide_carrier