The market for conversation intelligence software is valued at US$ 22.8 billion in 2023 and is expected to grow to US$ 46.8 billion by 2033. During the projection period, the market will grow at a CAGR of 7.4%.
It is anticipated that the market for conversation intelligence software would reach US$ 20.1 billion in 2021 and US$ 21.6 billion in 2022. The market is anticipated to grow at a 7.2% CAGR from 2022 to 2032, reaching US$ 43.2 billion. The main driver of the market during the projected period is anticipated to be the rising demand for AI-powered customer support services.
According to the SD-WAN security industry analysis by Future Market Insights (FMI), the adoption of SD-WAN security market is estimated to grow with a CAGR of 21.2% from 2022-2032.
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The report states that the market is expected to reach the valuation of ~US$ 2.4 Bn by the end of 2022. As per FMI, as remote working became more widespread, employees are now required to connect from outside the corporate network. This has in turn fueled the demand for secure and reliable connectivity.
This can be challenging for businesses, as devices are progressively dispersed across multiple locations. Cloud-based services, applications, and platforms also make it strenuous, as employee networks may struggle to meet the scalability, flexibility, and speed of implementation required for daily functions.
Key Takeaways: SD-WAN Security Market
By solution, the network firewall segment is anticipated to account for the leading share in the global demand for SD-WAN security during the forecast period. However, the DDoS detection and mitigation segment is estimated to grow at a robust CAGR of 21.7% through 2032.
Among the enterprise size, large enterprises segment is estimated to grow by 7.2X during the forecast period.
By Industry, the IT and telecom segment is anticipated to increase at a CAGR of 21.9% between 2022 & 2032.
North America region is dominating SD-WAN security market followed by Europe region in 2022. East Asia is estimated as the fastest growing region during the forecast period.
The market in U.S. is expected to progress at a CAGR of around 21.4% through 2032.
In China, the SD-WAN security market is expected to grow by 6.1x during the forecast period.
SD-WAN security market in India is estimated to witness the absolute $ opportunity of US$ 563.8 Mn during the forecast period.
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Increasing Demand from Enterprises to Improve Network Security
SD-WAN security provides enterprises a single control plane to supervise all networks, comprising data center, multiprotocol label switching and WAN. This strategy will be important as data migrates to multiple clouds and becomes subject to multiple security regimes. With a single view of all networks operations, the enterprise can make sure that security is totally organized across the whole distributed data ecosystem.
Increasing demand for total protection and control against cyber threats is escalating the SD-WAN security market, as SD-WAN security offers smooth and secure direct connectivity to cloud providers and endpoints, enhancing the cloud experience. It offers high levels of security to business, protecting data loss from unwanted intrusions.
Key Segments Covered in the Conversation Intelligence Software Market Report
Conversation Intelligence Software by Deployment
Conversation Intelligence Software by End Users
Conversation Intelligence Software by Vertical
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Conversation Intelligence Software by Region
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market
Conversation Intelligence Software Market review , outlook , forecast , demand , size , share , key trends , analysis , Research , overview
Jun 26, 2023
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