October 05, 2018
WELLESLEY, Mass., Oct. 05, 2018 – Due to being an emerging architecture that is dynamic, manageable, cost effective and adaptable, the North American market for software-defined networking has been experiencing positive changes, according to a new report from BCC Research.
In 2018, the North American market for software-defined networking was worth $2.5 billion. BCC Research estimates that it will reach a value of $21.1 billion by 2023, indicating a compound annual growth rate (CAGR) of 52.9%, according to Software-Defined Networking: North American Markets to 2023.
Although it does not directly affect the market for traditional networking devices, SDN provides an alternative that offers more efficiency and reduces the costs involved in the design, control and management of networking. It supports and accelerates the use of network virtualization (NV), network function virtualization (NFV) and business applications that help suppliers and users achieve efficiency in using virtual information technology (IT) infrastructure.
“For manufacturers, SDN brings new market leaders and new product lines to the networking industry,” the report notes. “It opens the conventional hardware-based networking industry to accommodate software developers. SDN also changes the traditional way of doing business in the networking industry by making it more vendor agnostic and, in some ways, protocol agnostic.”
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Software-Defined Networking: North American Markets to 2023( IFT170A )
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