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Software-defined Wide Area Network (SD-WAN) Market size is set to grow by USD 13.66 billion from 2024-2028, Rising demand for cloud solutions to boost the market growth, Technavio

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NEW YORK, May 29, 2024 /PRNewswire/ — The global software-defined wide area network (SD-WAN) market  size is estimated to grow by USD 13.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  29.02%  during the forecast period. 

For more insights on the forecast market size and historic data (2018 – 2022) – Download Free sample report in a minutes 

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Solutions and Services), End-user (Service providers and Enterprise customers), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)

Region Covered

North America, APAC, Europe, South America, and Middle East and Africa

Key companies profiled

Arista Networks Inc., Aryaka Networks Inc., Bigleaf Networks Inc., Cato Networks Ltd., Cisco Systems Inc., Citrix Systems Inc., FatPipe Networks Inc., flexiWAN Ltd. , Forcepoint LLC, Fortinet Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Juniper Networks Inc., Lumen Technologies Inc., Nokia Corp., Oracle Corp., Palo Alto Networks Inc., Riverbed Technology Inc., Versa Networks Inc., and VMware Inc.

Key Market Trends Fueling Growth

The SD-WAN market is experiencing increased demand for advanced technologies like AI and ML. These technologies enable effective network management, automating tasks such as event correlation and fault detection. Benefits include bandwidth utilization, actionable insights, and trend detection. Vendors like Cisco are integrating these capabilities, offering WAN optimization, network management, and fault prediction. 

The Software-defined Wide Area Network (SD-WAN) market is experiencing significant growth due to the increasing demand for secure and efficient network connectivity solutions. Cost-effective bandwidth and the ability to prioritize applications are key trends driving this market. SD-WAN technology enables companies to combine multiple types of connections, such as broadband and MPLS, to create a more flexible and cost-effective network.

Additionally, the integration of security features, like firewalls and intrusion prevention, is becoming increasingly important for businesses. The use of cloud services and the need for remote workforces are also contributing to the growth of the SD-WAN market. Overall, SD-WAN offers businesses a more agile and cost-effective solution for their network connectivity needs. 

Market Challenges

•         The SD-WAN market offers numerous advantages over traditional WAN, but enterprises must carefully consider requirements before implementation. Challenges include interoperability with legacy infrastructure, potential operational issues from incorrect implementation, and choosing the right SD-WAN solution from various vendors.

•         Businesses with limited resources may opt for managed services. High bandwidth needs from new technologies like big data analytics could pose implementation constraints. Effective measures include understanding business requirements, predicting workloads, setting SLAs, and choosing the right SD-WAN solution.

•         The Software-defined Wide Area Network (SD-WAN) market is experiencing significant growth due to the increasing demand for secure and efficient network connectivity solutions. However, the implementation of SD-WAN comes with certain challenges. One major challenge is ensuring security, as SD-WAN relies on the internet for connectivity, making it vulnerable to cyber threats.

•         Another challenge is the complexity of SD-WAN technology, which requires specialized skills and resources for deployment and management. Additionally, cost is a concern for many organizations, as SD-WAN can be more expensive than traditional WAN solutions. Furthermore, ensuring interoperability with various applications and services is also a challenge.

•         To address these challenges, SD-WAN vendors are focusing on providing robust security features, simplifying deployment and management processes, and offering flexible pricing models.

Research report provides comprehensive data on impact of trend, driver and challenges – Download Free sample report in a minutes 

Segment Overview 

Product 1.1 Solutions1.2 ServicesEnd-user 2.1 Service providers2.2 Enterprise customersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Solutions-  SD-WAN is a secure networking solution that links users to applications through various transport services like MPLS, LTE, and broadband internet. Businesses can outsource SD-WAN services to managed service providers (MSPs/CSPs), who offer networking, transport, hardware, and software for specified branches with SLAs for uptime and performance. Regular IT maintenance is crucial to keep SD-WAN costs low, and providers offer additional services for setup, integration, and maintenance, driving the SD-WAN market’s growth.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

The Software-defined Wide Area Network (SD-WAN) market is experiencing significant growth due to the increasing demand for WAN simplification and cost reduction in various sectors, including SMEs, healthcare, energy and utilities, and transportation and logistics. SD-WAN solutions enable bandwidth efficiency and reliability, making them an ideal choice for managing cloud IP traffic and supporting digital transformation initiatives.

With the advent of 5G, SD-WAN is becoming increasingly crucial for enhancing application performance and network security in industries such as industrial IoT (IIoT), smart cities, and mobility. Furthermore, SD-WAN plays a vital role in hybrid cloud environments, edge computing, and zero trust network access (ZTNA), offering significant operating cost savings and improved connectivity. Additionally, AI and Big data integration in SD-WAN solutions provide valuable insights for network infrastructure management and cybersecurity.

Market Research Overview

The Software-defined Wide Area Network (SD-WAN) market represents a significant advancement in network technology, enabling organizations to optimize their wide area network performance. SD-WAN utilizes a centralized control function, enabling the automation of network configuration and policy management. This technology allows for the prioritization of applications and the seamless integration of various connectivity types, including broadband and cellular.

The flexibility and agility offered by SD-WAN make it an attractive solution for businesses seeking to improve their network efficiency and reduce costs. Additionally, SD-WAN’s ability to provide real-time analytics and automated failover ensures business continuity and network reliability. Overall, the SD-WAN market is poised for growth as more organizations adopt this innovative technology to transform their network infrastructure.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSolutionsServicesEnd-userService ProvidersEnterprise CustomersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Hexaware Hosts Greater Manchester and West Yorkshire Mayoral Delegation, Deepens Partnership with University of Leeds

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Part of the Great North Mayoral Delegation’s visit to India, discussions focused on Hexaware’s UK expansion and planned R&D centers in Leeds and Manchester

MUMBAI, India, Oct. 23, 2026 /PRNewswire/ — Hexaware Technologies (NSE: HEXT), an AI-first digital and IT services company, hosted a delegation led by Tracy Brabin, Mayor of West Yorkshire, and Bev Craig, Mayor of Greater Manchester, as part of The Great North’s first joint mayoral-led trade mission to India

Hexaware met with Tracy Brabin and delegates from West Yorkshire at its Mumbai office to discuss the company’s UK investment plans, regional employment, and opportunities for technology collaboration across the North of England.

During the visit, Hexaware and the University of Leeds discussed their agreement to strengthen industry–academic collaboration through research, knowledge sharing, and experiential learning opportunities for students.

Earlier in the mission, on October 14 in Bengaluru, Hexaware leaders met Bev Craig, Mayor of Greater Manchester, together with representatives of the British Deputy High Commission and the Invest Manchester team, to discuss Hexaware’s investment in the city region.

Hexaware announced that it will create hundreds of jobs and invest £9 million in a new Design and Innovation Centre at Manchester’s innovation district, SISTER, delivered in collaboration with the University of Manchester. By establishing a base at SISTER, Hexaware will have access to Europe’s largest clinical academic campus on Manchester’s Oxford Road Corridor and a rapidly expanding digital and tech ecosystem within the city.

The visits follow Hexaware’s June 2026 announcement of a £25 million UK expansion, expected to create approximately 1,200 jobs over three to five years across Manchester, Leeds, and Birmingham, including 420 in Manchester and 240 in Leeds. Plans include proposed R&D centers in Manchester and Leeds, with Newcastle also under consideration as a potential future location, given the region’s strong university talent pool and proximity to Scotland.

Parameshwaran Iyer, Executive Vice President & Head – Europe, Hexaware, said, “The North of England is an important part of our UK growth plans. Our investment goes into developing technology capabilities and recruiting graduates from the region’s universities, training them to work with enterprise and public-sector customers. Our new agreement with the University of Leeds will strengthen this pipeline, giving us closer access to graduate talent as we grow our presence in the region. We see considerable potential in the talent and expertise available across these cities.”

Bev Craig, Mayor of Greater Manchester, said, “Greater Manchester has established strengths in healthcare, life sciences, and AI, supported by close cooperation between universities, researchers, and industry. We welcome Hexaware’s plans for Manchester and the opportunities they present for investment, innovation, and employment in these sectors.”

Tracy Brabin, Mayor of West Yorkshire, said, “It was great to visit Hexaware’s headquarters in Mumbai and hear first-hand about the company’s ambitious plans for growth in the UK. Their investment in Leeds and the creation of hundreds of new jobs is fantastic news for West Yorkshire and a strong vote of confidence in our region. Trade missions like this give us the opportunity to meet decision-makers directly, strengthen international relationships and explore how businesses like Hexaware can deepen their links with West Yorkshire to create a stronger, better-off region that works for all.” 

Glenn McCauley, Head of Proposition Development at the University of Leeds, said, “We were delighted to join this Great North Mayoral Delegation to India and to discuss with Hexaware leadership and with the Mayor of West Yorkshire how the University of Leeds’ agreement with Hexaware can be a catalyst to drive economic growth in our region.”

India and the North of England are connected above all through people, with more than 81,000 people of Indian heritage living in Yorkshire and the Humber, and 50,000 people of Indian diaspora in Greater Manchester. Thousands of Indian students also choose universities in the two regions every year. Increasingly, Indian companies are also among the region’s investors and employers. The India–UK Comprehensive Economic and Trade Agreement (CETA), in force since July 2026, alongside The Great North’s investment initiatives, gives that relationship fresh momentum.

Hexaware will continue discussions with regional partners on its proposed R&D facilities, graduate recruitment, and technology partnerships across the North of England, drawing on Leeds’ strengths in digital engineering, data science, robotics, fintech, and technology-enabled care, and Manchester’s strengths in healthcare, life sciences, cyber, and AI.

About Hexaware

Hexaware is a global technology and business process services company. Every day, Hexawarians wake up with a singular purpose: to create smiles through great people and technology. With offices across the world, we empower enterprises worldwide to realize digital transformation at scale and speed by partnering with them to build, transform, run, and optimize their technology and business processes. Learn more about Hexaware at https://hexaware.com.

 

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Fosun Wealth Opens Its First Private Wealth Center in Hong Kong at Harbour City, Tsim Sha Tsui

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Appointment-Only Center for High-Net-Worth Clients, Partnering with Fosun Wealth IFA to Expand Wealth Management Capabilities

HONG KONG, Oct. 23, 2026 /PRNewswire/ — Fosun Wealth International Holdings Limited (“Fosun Wealth”) announced the official opening of its first Private Wealth Center on the 23rd floor of Prudential Tower, at The Gateway, Harbour City, Tsim Sha Tsui, Hong Kong. The center provides a dedicated offline space for meetings and wealth planning in Hong Kong, exclusively tailored for high-net-worth clients. Visits are by appointment only, and the center operates in partnership with Fosun Wealth IFA (Independent Financial Advisor), supporting clients from initial discussions and tailored proposals through to signing and implementation.

The opening ceremony, themed “A Starry New Chapter on Victoria Harbour”, brought together business partners from fund, asset management and insurance industries in Hong Kong to celebrate the occasion.

Expanding amid Industry Growth to Address Clients’ Demand for Long-Term Advice

The opening comes as Hong Kong’s wealth management sector continues to expand. According to the Securities and Futures Commission of Hong Kong, as of the end of 2025, total assets under management (AUM) in Hong Kong jumped 20% year-on-year (YoY) to a record high of HK$42.2 trillion. Among the major segments, AUM of private banking and private wealth management business increased by an impressive 24% YoY to HK$12.9 trillion. At the same time, client expectations have shifted. High-net-worth individuals are increasingly looking beyond fragmented, one-off product recommendations and seeking professional institutions that can deliver cross-market and multi-generational support over the long term.

The center’s location in Harbour City offers views across Victoria Harbour and a calm, private setting. It features four dedicated meeting rooms, with each client received by a relationship manager throughout their visit to allow for in-depth discussions in a confidential environment. In addition to client meetings and document signing, the center will also host smaller, focused sessions to help clients better capture opportunities in Hong Kong’s wealth management market.

Strengthening Collaboration with Fosun Wealth IFA to Enrich Service Matrix

The Private Wealth Center will also serve as a working base for Fosun Wealth IFA, supporting professional discussions and the review of more complex cases. Launched by Fosun Wealth in 2025, Fosun Wealth IFA is Hong Kong’s first one-stop platform for independent financial advisors (IFAs) to establish and grow their practices. It has already built a team of nearly 500 advisors. Built on a compliant licensing framework, the platform integrates diversified financial products, AI-powered tools and structured trainings, supporting advisors from licensing through ongoing professional development to independent practice. The goal is to help raise standards and professionalism across Hong Kong IFA industry.

Fosun Wealth subsidiaries hold securities and insurance brokerage licenses. Under strict compliance, they provide access to insurance, securities, asset management, and corporate financing services. Fosun Wealth has also established partnerships with numerous leading fund houses, asset managers, and insurers, supporting both the Private Wealth Center and the IFA platform.

Cheng Kang, CEO of Fosun Wealth, said: “Hong Kong continues to strengthen its position as an international hub for asset and wealth management, supported by its resilience and openness. This creates a valuable opportunity for us to deepen our presence in the local market. The opening of the Private Wealth Center is more than the launch of a new location—it marks a new chapter in Fosun Wealth’s commitment to serving high-net-worth clients in Hong Kong with a more personal, long-term approach, bringing our ‘warm private wealth stewardship’ to a broader client base. Whether we are serving high-net-worth clients or building a stronger ecosystem for financial advisers, we aim to set a high standard in Hong Kong’s wealth management industry. We will focus on turning our capabilities into lasting value for clients, and work with clients and partners to support the continued growth of the sector.”

About Fosun Wealth International Holdings Limited

Fosun Wealth International Holdings Limited (hereinafter referred to as “Fosun Wealth”) is an AI-driven global one-stop Web5(Web2+Web3) wealth management platform wholly owned by Fosun International Limited (stock code: 656.HK) in Hong Kong. With its solid financial position, Fosun Wealth has obtained various licenses via its subsidiaries, including Type 1, 2, 4, 6, and 9 licenses granted by the Securities and Futures Commission(SFC) of Hong Kong, and an insurance broker license granted by the Insurance Authority(IA) of Hong Kong. Fosun International Securities Limited, a subsidiary of Fosun Wealth, is one of the first batch of brokerages to provide virtual asset dealing service. Fosun Wealth has launched several industry-leading brands, including the Fosun Wealth App, Finloop, FinChain, and Fosun Wealth IFA. For more information, please visit: www.fosunwealth.com.

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SOURCE Fosun Wealth International Holdings Limited

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WOLFX Student Super App Reaches 104 Universities One Month After US Launch

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All-in-one college platform reports 300 percent subscription growth following Arizona campaign 

MELBOURNE, Australia, Oct. 23, 2026 /PRNewswire/ — WOLFX, an all-in-one app designed to help college students thrive academically, socially and financially, has been downloaded by students at 104 universities in 130 cities across the US just one month after its launch in Indiana.

The platform recorded a 300 percent increase in subscriptions following its Rush WOLFX campaign in Arizona. Rush WOLFX is a game of skill that involves college fraternities and sororities putting their business skills to the test to win a $10K prize. 

WOLFX plans to hold six additional Rush competitions at Universities across the country next month.

WOLFX brings together AI-powered study tools, wellness support, a student marketplace and opportunities for student entrepreneurs in a single app, giving students who juggle academic, social and financial pressures one place to manage college life.

“I developed WOLFX to make the lives of college kids better. To see the app being so well received across America gives everyone involved a huge boost,” said Simon Bishop, founder of WOLFX. “As a father, I know college can be a daunting time for students and parents. WOLFX is aimed at easing those fears of loneliness and isolation. I’m so happy WOLFX is making a difference.”

Students say the app is already part of their daily routine.

“This is honestly the only college app you’ll ever need,” said Katie Wolf, a cheerleader at Indiana University. “Whether it’s managing my schedule, working on a business idea or even selling some items on the student marketplace, WOLFX has me covered. This app is a game changer for college students.”

WOLFX Platinum is available for $28.99 per month. WOLFX can be downloaded on iOS and Android.

About WOLFX

WOLFX is a student-focused super app designed to help college students navigate campus life through AI-powered study tools, wellness support, a student marketplace and entrepreneurial opportunities. The platform aims to make college life more connected, manageable and rewarding. WOLFX is available on iOS and Android. Learn more at https://wolfxapp.com/.

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SOURCE WOLFX

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