LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global WAN optimization solutions market to post a CAGR of over 18% during the forecast period. The development of smart cities is a key trend, which is expected to impact the demand for WAN optimization solutions.
Smart cities, along with smartphones, automated home appliances, and Wi-Fi technology, are connected through a network with high data flow across the network. WAN optimization solutions play a crucial role in maximizing the data flow across the WAN. Smart cities will accelerate the demand for WAN optimization, especially from the telecommunication sector.
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In this report, Technavio analysts highlight the increasing demand for data centers as a key factor contributing to the growth of the global WAN optimization solutions market:
Increasing demand for data centers
A WAN is an integral part of cloud computing and cloud storage. It is used to stay connected and transfer data. WAN optimization helps speed up the data transfer process by eliminating duplication of data and it also protects from cyber threats, which otherwise can interrupt IT workflow. The role of WAN optimization becomes imminent, as the data is stored in disparate storage systems in different geographic locations.
“The development of advanced technologies such as cloud-based services, cloud computing, and big data analytics has fueled the demand for global WAN optimization solutions market. The cloud computing industry will continue to witness a high adoption rate among companies because of the inherent versatility and scalability of the cloud. The cloud computing industry is expected to continue to witness more growth across APAC, with emerging economies such as India and China holding a large share of the market,” says a senior analyst at Technavio for M2M and connected devices research.
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Global WAN optimization solutions market - segmentation and analysis
This market research report segments the global WAN optimization solutions market based on end-user segments (financial services, IT and telecom, healthcare, and others), by deployment (on-premises and cloud-based) and key regions (the Americas, APAC, and EMEA).
Based on geography, the Americas dominated the market with a share of close to 37%, followed by EMEA and APAC. The Americas will maintain its lead over the market with a 2% increase in its market share while the other two segments will witness a decline in their share of the market by 2022.
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