According to the detailed report by Future Market Insights, the global WAN optimization market recorded sales of US$ 935.1 million in 2018. The market is anticipated to achieve revenue of US$ 1,150.9 million in 2023. Over the forecast period, the global market is projected to expand at a CAGR of 6.2%, resulting in a market size of US$ 2,106.9 million by the end of 2033.
WAN optimization, often known as WAN acceleration, is an algorithm that improves data flow efficiency across wide area networks, boosting application performance and lowering bandwidth demands. The WAN is categorized based on the distance between endpoints and the volume of data transferred. Branch to Headquarters and Data Centre to Data Centre (DC2DC) are two prevalent enterprise WAN topologies. The purpose of optimization in an enterprise WAN is to improve user experience by boosting the speed with which end users may access business-critical applications and information. Increased throughput, reduced latency and packet loss, and optimized restricted bandwidth are the most typical measurements of data transmission effectiveness.
WAN optimization is used by many organizations to avoid unnecessary traffic, control internet traffic, and give precedence to specific hosts on the network. Moreover, the increased need for WAN optimization across various major and small and medium entities to eliminate data duplication is boosting market expansion.
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Rise in the number of data centers and branch offices is an essential variable in accelerating market growth, as is an increase in cloud-based WAN optimization solutions, an increase in consumer appetite for solutions that help businesses efficiently track and handle data center networks, an increase in the adoption of cloud and electronic WAN optimization controllers, and an increase in the number of branch offices and data centers.
With the advent of next generation 5G networks, various providers of communication services around the globe are significantly introducing virtualized Radio Access Network (RAN) and core networks to decrease overall infrastructure and other indirect expenses. Furthermore, the need for edge computing is growing significantly among entities in order to reduce latency during data calculation. As a result, communication service providers and companies worldwide are progressively deploying optimization solutions to optimize their networks efficiently while assuring minimal downtime.
As VoIP and video content become increasingly prevalent in businesses, they have caused increasing challenges in this sector. Video is a popular medium for corporate interaction, training, and education. The main issue with these videos is that they are spread both within and outside of the company, covering a vast network. As a result, maintaining reliability and delivering high-quality data to end consumers becomes difficult. This is likely to hinder growth of the WAN optimization market in the coming years.
Key Takeaways
- North America exhibited a market share of 26.5% in 2022 globally and emerged as a dominant region for the growth of the WAN optimization market.
- With a share of 21.3% in the global market for WAN optimization in 2022, Europe established itself as a key region for market players.
- Emerging economies such as India and China owing to the rapid urbanization in the countries are expected to expand at a healthy CAGR of 7.8% and 5.4% respectively during the forecast period.
- Germany in 2022 accounted for 7.4% of the total shares in the WAN optimization market.
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Market Competition
The major players profiled in the wide area network (WAN) optimization market research report are as follows:
- Cisco Systems Inc.
- HPE (Silver Peak)
- Riverbed Technology
- Citrix Systems Inc.
- Fortinet
- Vmware Inc.
- Broadcom
- FatPipe Networks Inc.
- Versa Networks Inc
- Exinda
- Blue Coat System
Recent Developments
- July 2023 – Hewlett Packard Enterprise (HPE) announced that they will start the production of high-volume servers in India. This manufacturing operation will support the increasing need from consumers in India and further strengthen and diversify HPE’s global supply chain.
- June 2023 – In Eastern Europe, the Middle East, and Africa, Cloud Software Group formed a strategic alliance with Midis Group. This relationship offers Cloud Software Group with the local resources its customers require to support their transformative technology journey, as well as the scale necessary to expand its footprint in these regions.
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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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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