Software-Defined Anything Market Size Forecast to Reach $50 Billion by 2026

Software-Defined Anything Market
Growth of Data Centers is Expected To Augment the Growth of the Software-Defined Anything Market

Software-Defined Anything Market Size is forecast to reach $50 billion by 2026, at a CAGR of 20% during 2021-2026. Software-Defined Anything is an approach to control the network data from conventional workstations to portable smartphones and tablets and expanding network capability which can generate even greater security gaps. SDx solutions are used by large-scale IT infrastructure users, such as cloud service providers, telecommunication operators, and enterprises. The increasing demand for virtualization and cloud in data centers owing to provide unified management of all data center components, such as networking, server, storage, security, and other resources.The adoption of cloud technology which provides real-time data and stores huge data securely, rapid industrialization and leveraging advanced technologies, and increasing investments in digital technologies create Bring Your Own Devices (BYOD) and has positively impacted the growth of the market. The adoption of cloud computing in defined data centers for storage virtualization to build physical network infrastructure has driven the market growth.

Software-Defined Anything Market Segment Analysis – By Type

The Software-Defined Networking (SDN) segment is growing at a CAGR of 18% in the forecast period as it is cost-effective, adaptable, and dynamic for use in all applications. Network infrastructure is required to accommodate all these devices’ needs for providing adequate connectivity and ensuring the delivery of application-based services with the growing amendment of IoT has driven the demand for SDN. Another driving force for the SDN is the shift to cloud computing, in which a company moves some or all of its infrastructure to the cloud, lowering the total cost of ownership (TCO) infrastructure and provisioning time. In January 2021, Microsoft had launched the Microsoft Cloud for retail to enable retailers to realize the true value of their data by enriching core business processes as well as turning data into actionable insights, supporting future-proofing retail organizations. All these factors are analyzed to boost the growth of the market in the forecast period 2020-2026.

Software-Defined Anything Market Segment Analysis – By End User

IT & Telecommunication sector is expected to witness the highest CAGR of 7% the forecast period as the IT and Telecom industry is considered among one of the fastest-growing industry verticals due to rapid evolution, technological advancements, adoption of artificial intelligence, IoT, big data analytics, and so on, thus driving the demand towards software-defined anything. With the rising shift towards advanced technologies be it AI, IoT, cloud, and so on, the IT sector has been evolving alongside creating the need for managing massive amounts of unstructured data. Deploying a software-defined anything help the IT industry service providers to maintain a track of its client demands or queries, business operations, employees, and others with a cost-effective approach through storing and retrieval of all kinds of enterprise data information including inventory, payroll and leaves, resource orders, supply management, digital marketing, project management, work schedule, and so on. All these boost the growth of the Software-Defined Anything Market.

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Software-Defined Anything Market Segment Analysis – By Geography

Software-Defined Anything Market in the North America region held a significant market share of 35% in 2020. Growing technology-focused projects and rising IT budgets in enterprises are expected to boost the software-defined anything market in the coming years in this region. The technological shift towards enhancing information portability, corporate standards, and norms are likely to focus more on data-centric solutions, driving the software-defined anything market over the forecast period. According to the U.S. Small Business Administration, the country has 30.2 billion small and medium-sized firms, many of which employ software to minimize the costs and complexity of internal systems. The presence of hyper-scale data centers in the United States is a key element in maintaining a dominant market share for cloud-based technology. As a result, demand for cloud-based enterprise software in the United States is increasing.

Software-Defined Anything Market Drivers

The growth of data centers is expected to augment the growth of the software-defined anything market:

Increasing Networking has resulted in the surge of data centers where there is a requirement of software-defined anything solutions. According to UNCTAD, there are 4,422 colocation data centers among which 80% are present in the developed countries and 40% are accounted in the United States. The digital economy of the United States contributed to 6.9% of GDP in narrow definition and 21.6% of GDP in broad definition in 2019. Moreover, mobile subscribers are increasing rapidly owing to which there is growth in data centers in Argentina. This contributed to the positive growth of the market.

Growth of the internet of things (IoT) to augment the growth of the market:

The technological advancement and surge in adoption of IoT has led to digitizing, optimizing processes in various end-use industries such as retail, BFSI, and others which in turn saves time, money and increases safety, all these applications are carried out in cloud infrastructure. With the rising penetration of the Internet across the globe and the growing need for remote employees to understand the business process at ground level, BYOD programs have become crucial to the technical landscape. In 2019 Open Text announced the acquisition of Carbonite Inc. to expand its cloud-based platform capabilities to small and medium-sized enterprises through Carbonite’s subscription data protection, backup, disaster recovery, and end-point security. As a result, BYOD has emerged as a catalyst to enable the company to prioritize the efficiency of its employees without compromising protection in turn leading to the growth of software-defined anything market.

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Software-Defined Anything Market Challenges:

High Reconfiguration cost to Deploy SDN:

Although there are several benefits of software-defined anything solutions but to implement the SDN protocol and SDN controller requires changing the entire network infrastructure with the complete reconfiguration of the network which leads to an increase in the reconfiguration cost. In addition, trained staff are required for the implementation of SDN protocol along with single point failure issues. These cost-related issues are analyzed to restrain the growth of the market in the forecast period 2020-2026.

Software-Defined Anything Market Landscape

Product launches, acquisitions, Partnerships, and R&D activities are key strategies adopted by players in the Software-Defined Anything Market. Software-Defined Anything Market top 10 companies include Cisco Systems, IBM, Microsoft, Nokia, Extreme Networks, Juniper Networks, Oracle Corporation, Citrix, Red Hat, DataCore Software, Fortinet, Fujitsu, Lenovo, NetAppamong others.

Acquisitions/Product Launches

In 2019, Bharti Airtel partnered with Cisco System to offer managed SD-WAN to SMEs and Large Enterprises and further strengthen its footprint in the Indian Markets.

In 2019, Google partnered with HPE to provide hybrid cloud applications and leverage consistent cloud experience.

Key Takeaways

Surge in the adoption of IoT and big data analytics along with the enhanced IT agility and network customization through fast and reliable applications securely have driven the growth of the market.

IT & Telecommunication sector witnessed a significant growth in the market owing to the growing emphasis on ensuring real-time and quick access to data along with several benefits offered by the cloud such as growing emphasis on ensuring real-time and quick access to data.

North America held the major share of 35% in the software-defined anything market owing to the surge in adoption of cloud technology due to advancement in technology and growth of IoT along with the adoption of hosted services.

Relevant Report Titles:

Bring Your Own Device Market

https://www.industryarc.com/Research/Bring-Your-Own-Device-Market-Research-503776

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