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Software-defined Networking Market Trend, and Forecast 2024–2031
The Software-defined Networking Market is expected to reach $17.5 billion by 2031 from an estimated $17.5 billion in 2024, at a CAGR of 22.8% during the forecast period (2024–2031). The growth of the software-defined networking market is driven by the proliferation of data centers, the increasing utilization of smart devices in industrial and infrastructure applications, and the growth in network infrastructure automation in Asia-Pacific. However, interoperability issues due to uneven SDN standards restrain the growth of this market.
Furthermore, the increasing deployment of 5G networks and enterprises’ growing preference for network slicing are expected to generate growth opportunities for the stakeholders in this market. However, the shortage of skilled networking professionals is a major challenge impacting the growth of the software-defined networking market.
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