The Software Defined Networking(SDN) market is expected to reach USD4.91 billion by 2020, according to Grand View Research. Of this, the service provider segment is projected to be the fastest-growing segment over the forecast period at a CAGR of more than 40% over the forecast period.
Cloud virtualization applications in SDN solution accounted for over 25% market share and are projected to be the fastest and largest growing segment over the forecast period.
North America, due to the need for highly advanced network infrastructure in the region and high penetration of mobile devices, is expected to remain the largest market over the forecast period, said the market research firm.
According to Grand View Research, with trends including bring your own device (BYOD) catching up in Asia Pacific due to a growing need for manageable networks, the region is projected to be the fastest-growing market over the forecast period with a CAGR exceeding 45%.