According to a recently published Future Market Insights report, the WAN Optimization Market is expected to grow at a CAGR of 6.1% between 2022 and 2032, with revenues estimated at US$ 1.1 billion in 2021. The market is expected to be worth US$ 2.1 billion by the end of 2032.
The introduction of information technology has resulted in a paradigm shift in the way businesses operate, with a focus on IT-based business objectives. WAN has transformed the corporate sector by utilising various technologies that enable quick and secure data exchanges across the network.
Enterprises are increasingly relying on WAN optimization solutions to manage their network systems and maximise the benefits of network acceleration, broadband optimization, and sustainability.
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Furthermore, numerous multinational corporations have Strategic Business Units located globally. Employees of these firms operate on a single platform, where many employees working from remote locations struggle to provide adequate Quality of Service owing to inefficient bandwidth management on the network for using centralized apps. The widespread use of efficient wide area network technologies has created new opportunities for executing productive commercial operations across the Wide Area Network.
“During the projected period, the ever-increasing need for solutions that assist organizations in monitoring and managing network infrastructure systems will boost WAN Optimization market developments in the coming years.” comments a Future Market Insights analyst.
Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the WAN Optimization Market are focused on R&D to produce innovative technological solutions.
- In July 2020, Hewlett Packard Enterprise announced its plans to acquire Silver Peak, a US-based supplier of SD-WAN solutions. The US$ 925 Mn acquisition deal aims to broaden its selection of SD-WAN products.
- In May 2019, Argon Consulting announced a partnership with Guerlain on a unique solution for speeding supply flows based on Sigfox IoT technology and a worldwide 0G network. Guerlain, a Perfumes and Cosmetics leader, is the first to employ this strategy.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the WAN Optimization Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in WAN Optimization Market in terms of Component (Solutions and Services), Deployment (Cloud and On-Premises), End User (SMEs and Large Enterprises), and Vertical (BFSI, Healthcare, IT and Telecom, Manufacturing, Retail, Media & Entertainment, Energy, Education, and Others), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Market Segments Covered in WAN Optimization Market Analysis
By Component:
- Solutions
- Services
By Deployment Type:
- Cloud
- On-Premises
By End User:
- SME’s
- Large Enterprises
By Vertical:
- Banking, Financial Services, and Insurance
- Healthcare
- Healthcare
- Manufacturing
- Retail
- Media & Entertainment
- Energy
- Education
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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