SDN and network function virtualization market worth $ 45.13 billion by 2020

According to a new market research report, “Software Defined Networking (SDN) Market & Network Function Virtualization by Solution (Security Technologies, Switches, SDN Application Platform & Controller, SDS Platform, and Routers), Service, End User - Global Forecasts to 2020”, published by MarketsandMarkets, Software Defined Networking (SDN) and Network Function Virtualization (NFV) Market to grow from USD 2.02 Billion in 2015 to USD 45.13 Billion in 2020. This represents a Compound Annual Growth Rate (CAGR) of 86.1% from 2015 to 2020. [caption id=“attachment_2242012” align=“alignleft” width=“380”]  Thinkstock[/caption] MarketsandMarkets broadly segments the SDN market on the basis of solutions into security technologies, switches, SDN application platform & controller, software-defined storage platform, routers; end users into telecommunication providers, cloud service providers, and enterprises; organization size into Small and Medium Businesses (SMBs) and large enterprises. SDN and NFV technologies also find extensive applications in various verticals including BFSI, consumer goods & retail, government & defense, manufacturing, telecom & IT, and other verticals such as energy & utilities, healthcare, and hospitality. SDN and NFV technologies are set to redefine networking architecture and are rapidly gaining traction among all stakeholders associated with networking, mobility, IoT, and other related areas. The major factors that have been the adoption of SDN and NFV technologies include, the rising demand for mobility, requirement for innovative and new network architecture, surging cloud services, varying and complex network traffic patterns, and network management of large networks, along with the management of geographically spread network assets. SDN and NFV technologies with the adoption of OpenFlow standards simplify the task of configuring complex network infrastructures and reduce CAPEX required for traditional network infrastructure. MarketsandMarkets forecast the Software Defined Networking (SDN) and Network Function Virtualization (NFV) market to grow from USD 2.02 Billion in 2015 to USD 45.13 Billion in 2020. This represents a Compound Annual Growth Rate (CAGR) of 86.1% from 2015 to 2020. In terms of regions, North America is expected to lead the market; Asia-Pacific including Japan is the fastest growing market and is expected to soon replace Europe to become the second biggest contributor in the market. Major vendors in this market include BigSwitch Networks, Cisco Systems Inc., DELL Inc., Hewlett-Packard, Intel Corporation, Juniper Networks, NEC Corporation, Pica8 Inc., and PLEXXI, Inc. There are several other key innovators, niche players, and service providers, who play a vital role in this market. Some of these companies are 6WIND, ADARA Networks, ADVA Optical Networking, Alcatel-Lucent, Arista Networks, Aricent, Brocade, BTI Systems, Ciena Corporation, Citrix, Cumulus Networks, Ericsson, Enterasys Networks, Extreme Networks, Inc., F5 Networks Inc., Huawei, Oracle Corporation, Verizon Communications, and VMware, Inc.