The worldwide software-defined networking (SDN) market is expected to reach $132.9 billion by 2022, growing at a compound annual growth rate (CAGR) of 47% from 2016 to 2022, according to a new report published by Allied Market Research titled "World Software Defined Networking Market.”

The growing need for efficient management of data traffic and centralized control of networks has encouraged communication service providers to adopt SDN, the report says. Implementation of SDN has increased significantly across industries because of growing network complexity, the demand for cost and time efficiency and the need for flexibility in network infrastructure.

SDN provides several potential benefits including programmable control over the network, management of wide and complex data traffic, reduced capital and operational cost on network equipment and customized data control, which have encouraged organizations to adopt the technology.

Offerings from SDN providers include physical network infrastructure, virtualization and control software, professional services and SDN applications and network services. The physical network infrastructure accounted for 47% of the global market revenue in 2015, owing to its benefits of minimizing the complexity of network management through SDN-enabled switches, routers, and other network devices.

Enterprises are the major end users of SDN, accounting for about 43% of the global market revenue in 2015, followed by telecommunication service providers. The cloud service provider segment is estimated to grow at the highest CAGR during the forecast period, due to the growth in use of cloud computing services.

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