global sd-wan vendor market mid-year forecasts 2018 licensed … · 2019-08-04 · • riverbed 39...

Global SD-WAN Vendor Market Mid-Year Forecasts

2018

BCS 12-2

August 2018

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2 BCS 12-2

Research Team

Roopashree Honnachari Industry Director

Business Communication Services

(281) 688 - 7099

[email protected]

Lead Analyst

Research Director

Lynda Stadtmueller Vice President

BCS & Cloud Computing

(908) 672-1476

[email protected]

Strategic Review Committee Leader

Michael P. Suby Vice President

Stratecast

(303) 946-2407

[email protected]

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mailto:****@frost.com





3 BCS 12-2

Table of Contents

Section Slide Numbers

Executive Summary 5

Market Definitions 8

Business Benefits of SD-WAN 12-14

Market Trends Driving SD-WAN Adoption 15-20

SD WAN Vendor Market Forecasts

• SD-WAN Vendor Market Forecasts Taxonomy 22

• SD-WAN Vendor Market Forecast Assumptions 23

• SD-WAN Vendor Market: Total Revenue Forecast, Global, 2017-2023 24

• SD-WAN Vendor Market: Regional Breakdown, 1H 2018 25

• SD-WAN Vendor Market: Total Customer Sites Forecast, Global, 2017-2023 26

• SD-WAN Vendor Market: Customer Sites Split by Managed vs. DIY, Global, 2017-

2023

27

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4 BCS 12-2

Table of Contents

Section Slide Numbers

SD-WAN Vendor Market Competitive Analysis & Vendor Profiles 28

• SD-WAN Vendor Market Share Rankings, Global, 1H 2018 29

• VMware-VeloCloud 30

• Silver Peak 31

• Cisco 32

• InfoVista 33

• Nuage Networks 34

• Aryaka 35

• FatPipe Networks 36

• Citrix 37

• Versa Networks 38

• Riverbed 39

• CloudGenix 40

Appendix 41

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5 BCS 12-2

Executive Summary

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6 BCS 12-2

Executive Summary

The SD-WAN market is in the early growth stage of the product lifecycle. Key factors driving market adoption include: cost

savings from efficient usage of private and public networks, ability to optimize hybrid cloud connectivity, and application-aware

routing. Below is a summary of key research findings of this report:

• Vendor interviews confirm that the strong pipeline that was beginning to build in Q4 of 2017 has materialized with actual sales

and deployments taking place throughout the first half of 2018. Based on 1H 2018 actual revenues, the forecast for 2H 2018

looks promising, with YoY growth rates expected to exceed our earlier forecasts. The global SD-WAN market is forecast to

grow at a CAGR of 49% from 2018 to 2023.

• United States continues to lead in terms of global sales, with 78% share of the market. However, sales are picking up in

Europe, followed by APAC and LATAM.

• SD-WAN market adoption in the US is further validated by a recent Frost & Sullivan survey, where 15% of the respondents

indicated they have deployed SD-WAN; and another 16% indicated they have a deployment underway.

• The first half of 2018 also witnessed continued momentum around building partnerships. The SD-WAN vendor partner channel

typically includes network service providers (NSPs), managed service providers (MSPs), system integrators, application

service providers (ASPs), and value added resellers (VARs). While 2017 focused heavily on partnerships with mid-size and

large NSPs, as they offer services that combine their networks with the managed SD-WAN solution, the first half of 2018 saw

vendors tap into small MSPs and VoIP/UCaaS providers, and NFV platform vendors to integrate their SD-WAN CPE into their

vCPE platforms.

• Most SD-WAN solutions available in the market today have integrated routing functionality that can essentially replace existing

enterprise routers. Vendors are continuing to add technology partners to their list to support a wide variety of cloud-based

security solutions.

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7 BCS 12-2

Executive Summary—Market Engineering Measurements

Stable Increasing Decreasing

SD-WAN Vendor Market: Global, Mid-Year 2018

Forecast Period

Market Growth

Rate

49%

(CAGR, 2018–2023)

Market

Concentration

~53.0%

(% of market share held by

top 3 companies)

Customer Price

Sensitivity

7

(scale:1 [Low] to 10 [High])

Degree of

Technical

Change

9

(scale:1 [Low] to 10 [High])

Market Stage

Growth

Market Revenue

$ 529 M

(2018)

Market Size for

Last Year of

Study Period

$ 3.7 B

(2023)

Base Year

Market Growth

Rate

72%

(Global)

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8 BCS 12-2

Market Definitions

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9 BCS 12-2

Market Definitions

An SD-WAN architecture uses SDN principles to separate the data plane from the control plane in the WAN. It abstracts the

underlying transport networks (MPLS, Ethernet, wireless, satellite), and shifts control intelligence from customer premises

equipment (CPE) or edge devices into a centralized, software-based controller. A graphical user interface (GUI)-based

management platform enables network administrators to define application-specific business policies, which the controller

translates into routing policies enforced in the edge devices.

• SD-WAN functionality is enabled by

deploying physical or virtual CPEs at

customer sites or in the cloud. Some

vendors pre-package the vCPE as an AWS

or Azure instance.

• A virtual CPE or appliance is a pre-

packaged software solution that runs on a

standard hypervisor-based virtualization

platform. The functionality of a virtual

appliance should, in theory, match

identically to its physical counterpart, which

is also (in fact) software-based; and most

providers of virtual appliances attempt to

assure similar functionality and performance

levels across their physical and virtual

appliances.

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10 BCS 12-2

Market Definitions (continued)

Key characteristics of an SD-WAN solution include the following:

• In its core, the SD-WAN solution uses Software Defined Networking (SDN) principles to separate the data plane from the

control plane, and create an overlay network. The abstracted or virtualized network intelligence is controlled and managed

via a centralized controller located in the enterprise data center, or provider data center or cloud. Via the controller,

enterprises can deploy a combination of transport services (MPLS, Internet, Ethernet, Wireless) to build their WAN.

• The SD-WAN functionality is delivered over an edge device (physical or virtual), which is a highly simplified plug-and-play

device that runs on a standard x86-based hardware, and comes with zero-touch provisioning capability. The edge devices

aggregate various transport links, inspect the links at regular intervals, and update network status to the controller.

• The controller makes routing decisions by comparing the network intelligence received from the edge devices to the input

received from network administrators on quality of service (QoS) policies for various applications. Network administrators

define network QoS requirements—bandwidth, latency, jitter, packet loss—for specific applications, which the controller

translates into routing policy for edge devices, to choose the optimal path for sending traffic.

• An SD-WAN solution provides deep visibility and analytics of network performance characteristics via a graphical user

interface (GUI) that simplifies network management.

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11 BCS 12-2

Defining the Key Terms and the Value They Deliver

Software-defined Networking (SDN)

SDN is a technology architecture that decouples the network control from the forwarding functions of the physical infrastructure.

In SDN architecture, a controller determines how packets get forwarded by networking elements, separating the control and data

planes within switches and routers. SDN technology does for network services what virtual machines (VM) do for servers—it

enables physical network resources to be pooled together and consumed on-demand.

A number of leading network service providers (NSPs) have deployed SDN in their networks to enable SDN-based services such

as bandwidth-on-demand across their network services—MPLS, Ethernet, and Dedicated Internet Access (DIA).

Virtual Customer Premise Equipment (vCPE)

A virtual CPE or appliance is a pre-packaged software solution that runs on a standard hypervisor-based virtualization platform.

In theory, the functionality of a virtual appliance should identically match its physical counterpart, which is also (in fact) software-

based. Most providers of virtual appliances attempt to assure similar functionality and performance levels across their physical

and virtual appliances.

Network Function Virtualization (NFV)

NFV is a network architecture framework that brings virtualization technology to networks. The aim of NFV is to replace

proprietary network elements—hardware-based switches, routers, and other devices usually contained within an NSP network—

with industry standard, centrally managed commodity-based servers. In the network, NFV allows routers, switches, firewalls,

load balancers, content delivery systems, end-user devices, IMS nodes, and almost any other network function to be run as

software on virtual machines—ultimately, on shared servers, using shared storage.

Virtual Network Function (VNF)

A VNF is a virtual or software form of a given network function; for example, network router functionality deployed in software, as

opposed to dedicated proprietary hardware.

Universal CPE (uCPE)

A uCPE is an x86-based server or whitebox, which can host multiple VNFs, and resides at the enterprise customer premises.

For example, router, WAN optimization, firewall, and SD-WAN functions can all be hosted as virtual functions on a single uCPE.

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12 BCS 12-2

Business Benefits of SD-WAN

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13 BCS 12-2

Business Benefits of SD-WAN

The key business benefits of SD-WAN for enterprises are described below.

Agility

With SD-WAN solutions, transport routing changes can be made in real-time. The underlying transport infrastructure is

abstracted, pooled and assigned to applications, based on software-defined policies. For example, a branch site can use a high

capacity internet link as a primary circuit, and a low speed MPLS circuit as backup. If the primary link does not deliver the

requisite QoS, mission-critical applications can be dynamically re-routed to run on the MPLS link. Alternatively, sites can

eliminate MPLS completely, and use Internet links in active-active mode, wherein the controller chooses the link that fulfills the

QoS requirements of a given application.

Speed to Market

SD-WAN CPE dramatically reduces the time required to add new branch sites, as the CPE is a plug-and-play device that can be

configured without oversight by on-site network personnel. The zero-touch provisioning feature enables the device, once plugged

into the network, to automatically connect to the controller, and self-configure. New branch locations can deploy SD-WAN

equipment, and start with readily available wireless LTE service, while waiting for a network service provider to provision wired

services (Internet or MPLS). MPLS services provisioning times can run into multiple weeks in some scenarios; SD-WAN ensures

that new branch addition initiatives are not deterred due to long provisioning cycles of wired services.

Cost savings

An SD-WAN enables cost-efficient use of public Internet and private networks. Enterprises can use aggregated, inexpensive

Internet links to achieve high-speed bandwidth for less critical applications, while continuing to use private networks to run

mission-critical applications via higher cost, private WAN services (MPLS or Ethernet). In addition, the ease of deployment and

centralized control eliminates the need for a network engineer at every location, resulting in lower network management costs.

The ability to centrally control and manage thousands of edge devices can be of immense value for highly distributed enterprise

verticals such as retail, healthcare, and banking.

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14 BCS 12-2

Application-aware Routing

SD-WAN solutions leverage real-time performance monitoring of transport networks to make application-aware, policy-based

network selections. The controller defines the network policies for applications on branch routers, and chooses a path that best

suits the application traffic. Real-time monitoring of traffic paths ensures that problems related to availability (sufficient

bandwidth) and reliability (latency, jitter, and packet loss) are sensed before they affect the users; and traffic can be routed to a

different path, if necessary. This reduces reliance on MPLS-only links (which typically offer WAN performance visibility and

management features), as network engineers monitor both public and private networks to ensure suitable application

performance, irrespective of the underlying infrastructure. Leading SD-WAN vendor solutions automatically recognize traffic

associated with popular enterprise applications (e.g., Office 365, Skype, Gmail, YouTube, SAP), and optimally route that traffic

based on cost and performance policies. Vendor solutions are also evolving to offer differentiated features in application

recognition and routing. For example, Silver Peak’s Unity Edge solution offers First-packet iQ that recognizes applications on

the very first packet received. This feature eliminates the need to backhaul all apps to the data center for identification, and

instead immediately routes traffic through the internet.

Branch Office Connectivity

Branch site connectivity and management is time consuming and complex for large distributed enterprises. Most large

enterprises have a hybrid WAN in place today, wherein they may use MPLS to connect critical locations; and IPsec VPNs to

connect less critical branch sites. However, the current hybrid WAN architecture they have in place is likely static in nature. Any

needed changes could involve truck rolls and also require network engineers to make the changes—which is time consuming

and expensive.

The centralized, policy-based routing capability of SD-WAN can increase the performance and reliability of branch networks, as

real-time monitoring of traffic paths ensures that the chosen network (MPLS or internet or LTE) meets the QoS requirements for

each application.

Business Benefits of SD-WAN (cont.)

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15 BCS 12-2

Market Trends Driving SD-WAN Adoption

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16 BCS 12-2

Market Trends

SD-WAN Vendors Continue to Add Integrated Functionality to their Solutions to Achieve Competitive Differentiation

In 2018, SD-WAN vendors continued to add additional functionalities such as integrated routing, integrated WAN optimization, integrated

stateful firewall, and interoperability with leading security vendors. The SD-WAN vendor competitive landscape is beginning to segment itself

based on the specific focus a vendor brings to the market in terms of integrated functions.

• Pure play SD-WAN vendors such as Versa are focusing on enhancing their IP platforms to complement NFV-based services that

providers offer in the market. Versa Networks’ Cloud IP platform offers holistic solutions that include SD-WAN, routing, and advanced

integrated security features, which include integrated next-generation firewall and unified threat management (UTM) capabilities.

• Traditional security vendors such as Fortinet have approached the market with a deep security focus. Fortinet’s FortiGate offer comes with

in-built SD-WAN functionality that appeals to enteprises that want NGFW and UTM capabilities along with SD-WAN.

• Traditional WAN optimization vendors such as Citrix, Riverbed, and Silver Peak have products that combine SD-WAN and WAN

optimization functionalities into a single appliance; and also offer integrated security and routing functions to varying extents.

• Router vendors such as Cisco are introducing SD-WAN functionality to their routing platforms. Cisco recently announced support for SD-

WAN functionality across its CSR, ASR and ISR routing platforms. This move enables Cisco to tap into the large installed base of

enterprise routers (over a million, per the company’s press release) to capture enterprise SD-WAN spending. Future plans include

integrating various security functions into the solution.

• Vmware-VeloCloud and Nuage Networks are approaching the market with a broader focus on data center, cloud and enterprise network

virtualization solutions that can be managed in a unified manner.

SD-WAN Vendors Continue to Add Support for Multi-vendor Security

Network security is top-of-mind for enterprise IT managers as they evaluate SD-WAN solutions. While the initial SD-WAN offerings came

with basic cloud-based security features, in partnership with security vendors such as Zscaler or Palo Alto Networks, enterprise IT decision

makers are looking for support across a broad range of vendor solutions, and a broader set of security features. Leading vendors have

partnerships with security vendors to ensure interoperability of their solutions. For example, Riverbed, Silver Peak, Nuage Networks,

VMware-VeloCloud, and Versa Networks joined the Fortinet Fabric-Ready Partner Program that allows partners to leverage Fortinet’s APIs

for deep integration with the Fortinet Security Fabric. These partnerships enable enterprises to choose best-of-breed, interoperable security

solutions with their SD-WAN.

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17 BCS 12-2

Market Trends (cont.)

Cloud Connectivity Continues to be a huge focus for SD-WAN Vendors

Cloud connectivity is one of the key reasons enterprises are evaluating SD-WAN services. In the 2018 Frost & Sullivan SD-WAN

end-user survey, 64% of the respondents indicated “direct connectivity to cloud-based applications ” as a compelling benefit of

SD-WAN. The ability to use public and private networks in a hybrid WAN, and make real-time changes to routing based on pre-

defined policies, is of value to enterprises. As with the choice of cloud infrastructure (public, on-prem or hosted private, bare

metal, hybrid etc.) for enterprise applications, the networks connecting various cloud-based applications do not have to be one

type. For example, while MPLS could be the right choice to connect to a compliance-sensitive ERP application in a hosted

private cloud, internet links could suffice for accessing a less critical SaaS application.

SD-WAN enables enterprise IT to predefine business policies through the SD-WAN controller, to specify which cloud applications

are suitably accessed directly through the internet versus backhauled to a hub site. A physical or virtual SD-WAN appliance,

deployed at the cloud service provider’s data center, communicates with the SD-WAN appliance at the customer site, to ensure

that the internet links meet the required QoS for a given application. Leading vendors announced cloud on-ramp connectivity to

public cloud with their SD-WAN solutions by partnering with leading cloud providers. For example, Riverbed offers one-click

connectivity to AWS and Azure; Cisco with Azure and AWS; and Citrix with Equinix, AWS and Azure.

Additionally, some vendors have announced SD-WAN solution integration with Azure virtual WAN. The integrated capability

enables enterprises to make use of Microsoft Azure’s network to connect branch locations securely; and efficiently connect to

Azure Cloud. Riverbed and Silver Peak are SD-WAN connectivity partners on Azure virtual WAN.

SD-WAN Vendors Prepare for the NFV Revolution that is Coming

A majority of the SD-WAN deployments that are operational today are CPE centric, where the vendor provides the physical

appliance that hosts the SD-WAN function. However, SD-WAN vendors realize that NFV is making inroads into service provider

networks; and having virtual solutions that are compatible with leading NFV vendor platforms is critical. Late 2017 and early 2018

witnessed several SD-WAN vendors announcing partnerships with NFV vendors. For example, Versa Networks announced a

partnership with RAD to bundle its SD-WAN software with RAD’s vCPE and uCPE platforms. Similarly, Fatpipe announced its

partnership with Telco Systems to integrate its multi-function VNF into Telco Systems’ NFV or vCPE platform.

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18 BCS 12-2


In-Depth Visibility and Analytics are Driving Enterprise Interest in SD-WAN

An SD-WAN solution offers in-depth visibility into network and application performance across the WAN deployment. In a

traditional WAN, network and application performance monitoring tools have been limited to private WAN services such as

MPLS and Ethernet. With SD-WAN, network managers have visibility across edge devices, transport links and applications. SD-

WAN edge appliances collect detailed statistics of the network and applications traversing them; applying analytics to the data

enables WAN managers to detect errors in advance, troubleshoot, improve network capacity planning, and ensure that

promised SLAs are met. Most SD-WAN vendors offer detailed visibility and analytics in a GUI-based model for their customers.

InfoVista, for example, is competing in the SD-WAN market by focusing on its application and network performance monitoring

(APM/NPM) capabilities.

SDN, NFV, and SD-WAN are Beginning to Converge to Enable Enterprises to Achieve a Truly Dynamic WAN

SDN and NFV technologies have been brewing in service provider networks and data centers for a long time. However, these

two technologies have struggled to make inroads into enterprise WANs. This is changing as leading NSPs have launched SDN-

based network services to offer dynamic bandwidth capabilities. For example, AT&T’s Network on Demand provides customers

the ability to procure bandwidth on demand across its MPLS, Ethernet and DIA footprint. NFV-based services, which allow SD-

WAN administrators to dynamically choose and deploy network functions such as router or WAN optimization in software, are

slowly making their way into enterprise WAN solutions. AT&T and Verizon both offer universal CPE (uCPE) based virtual

network services. The uCPE is an x86 based hardware appliance that can host multiple virtual network functions (VNF), thus

eliminating the need for dedicated hardware for each network function. While SDN and NFV, combined, represent a compelling

value proposition for enterprise WAN architectures, SD-WAN enhances the value. With the convergence of SDN, NFV and SD-

WAN, businesses can use SD-WAN technology to route traffic based on pre-defined policies, change the underlying bandwidth

in real-time, and deploy network functions (virtual firewall, virtual WAN optimization, etc.)

An SD-WAN can be deployed using a dedicated hardware appliance or as a VNF. Service providers with an advanced SDN and

NFV strategy are currently embracing both hardware and software based models, with plans to offer SD-WAN as a VNF on their

uCPE in the future. The hardware-based model is the dominant model today as NSPs do not yet provide NFV-based services at

scale. Most businesses prefer the hardware SD-WAN CPE model, as they evaluate SD-WAN at limited sites, with the potential

to consider the uCPE approach during a router refresh cycle.

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19 BCS 12-2


In a recent Frost & Sullivan survey of network decision-

makers, over 50% of the respondents indicated their

preference toward buying a fully managed SD-WAN service.

In a managed SD-WAN, the service provider installs and

manages the edge devices, procures and manages access

links from multiple NSPs, and manages the day-to-day

network management aspects of the solution.

Managed SD-WAN also allows customers to evaluate and

adopt SD-WAN in phases. With some services, enterprises

can pay a flat monthly subscription fee to install, monitor and

maintain networking equipment (such as routers) at branch

offices, instead of making a CAPEX investment. While leading

network service providers and managed service providers

have quickly formed partnerships with SD-WAN vendors to

offer a fully managed SD-WAN, system integrators and value

added resellers are also seeing significant success with their

managed SD-WAN offerings.

Market trends also indicate that, at a minimum, most SD-

WAN customers are looking for a co-managed service

wherein they retain at least some level of control over the SD-

WAN deployment; while the service provider takes on the

day-to-day management aspects.

Managed SD-WAN Continues to Gain Traction

Source: 2018 SD-WAN End User Survey Results

54%

21%

25%

Fully managed: buy SD-WANservice from a service providerthat deploys and manages theSD-WAN solution and relatednetwork services, end-to-end

Co-managed: buy SD-WANservice from a service provider

that deploys the SD-WANsolution and related network

services, and co-manages thesolution along with our internal IT

team

Do-it-yourself : procure SD-WANhardware(and software) directlyfrom the vendor and have the

internal network/IT team deployand manage

What is your company’s preference in buying and managing an SD-WAN

solution? (N=350)

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http://www.frost.com/q297323304



20 BCS 12-2

Mobility, Internet of Things (IoT) and Big Data Trends to Contribute to SD-WAN Demand

The current business environment is experiencing an influx of new technology trends—including mobility and IoT—requiring

WAN managers to connect geographically-dispersed teams and nodes. Mobile users are using their own smartphones and

tablets to access corporate resources. As corporate data gets distributed among hybrid cloud deployments in an SD-WAN

deployment, remote users accessing cloud-based applications can be automatically routed to cloud-hosted applications over

the internet.

Big Data and IoT applications, distributed across cloud and on-premises data centers, are putting immense pressure on WAN

bandwidth, which MPLS alone cannot fulfill in a cost-effective manner. The traditional WAN architecture—with traffic passing

back and forth from remote sites into central data centers, and back via MPLS—does not work well for distributed

deployments. This is particularly true in the case of IoT applications where the number of connected nodes can be extreme,

making the use of private networks cost prohibitive. Furthermore, data from IoT nodes is typically sent to the cloud for storage

and analysis. With SD-WAN, IoT nodes can connect directly to the internet via high-speed broadband, while ensuring that the

links adhere to QoS and compliance requirements defined by the controller. Even if a private link is used by certain IoT nodes,

users can make use of the WAN optimization features of SD-WAN to optimize bandwidth usage.

Vendor Sales Channels are Evolving to Include a Broad Mix of Partners

The initial stages of SD-WAN witnessed SD-WAN vendors partnering with VARs and network service providers to expand their

market reach. However, most vendors have expanded their channel partnerships to include master agents, managed service

providers, system integrators (SI) and application service providers (ASPs). The diverse nature of partnerships is to ultimately

provide customers a wide variety of choice in terms of how they want to buy and manage SD-WAN. While NSPs bring deep

network management expertise, and can integrate their networks and other enterprise solutions with SD-WAN, SIs can act as

true carrier-neutral managed SD-WAN providers for businesses looking to take that route. Similarly, ASPs can integrate SD-

WAN with other IT or cloud applications that they currently manage for end customers.


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21 BCS 12-2

Market Forecasts – SD-WAN Market

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22 BCS 12-2

SD-WAN Vendor Market Forecasts Taxonomy

In this report, the SD-WAN Vendor Market is the infrastructure market consisting of SD-WAN hardware and software. The SD-

WAN overlay functionality is delivered using a physical or virtual appliance. While most vendors offer a physical hardware

appliance that hosts the SD-WAN software, there are vendors that sell only the software. For example, Versa Networks. In this

case, only software licensing revenues earned by a vendor is included.

SD-WAN Vendor Market Revenue Forecast: This is revenue earned by vendors for their SD-WAN hardware and software

products sold either directly to enterprises, or through indirect channels that could include NSPs, MSPs, SIs, ASPs, or value-

added resellers.

• As per the new ASC606 rule by Financial Accounting Standards Board (FASB) and their European counterpart, the

International Accounting Standards Board (IASB) (https://asc.fasb.org/imageRoot/32/79982032.pdf), vendors are required to

recognize any revenues paid by the customer in full, at the time of payment. For example, if a customer pays for the SD-WAN

solution CPE and licensing fees for a 3-year period, in full, the entire value of the contract must be recognized at the time of

payment. Hence, our forecasts include revenues recognized from CAPEX purchase of edge appliance and licenses,

perpetual licensing fee, related maintenance fee, and subscription licensing fee.

• Incremental revenues from additional value-added services or features/functionalities, such as WAN optimization or security

services provided on vendor CPE, is not included in the report.

SD-WAN Market Customer Sites Forecast: This is the number of active or operational SD-WAN sites. These customer sites

are broken down by DIY and Managed.

• DIY SD-WAN sites refer to the sites where the enterprise IT procures the SD-WAN appliance, and deploys and manages it

in-house.

• Managed SD-WAN sites refer to the sites where a managed service provider procures, deploys, and manages both the

overlay and underlay (transport networks) SD-WAN components for the enterprise.

SD-WAN Market Shares: SD-WAN market shares are based on the overlay vendors’ estimated product revenues for 1H 2018

(Jan to June).

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https://asc.fasb.org/imageRoot/32/79982032.pdf



23 BCS 12-2

SD-WAN Vendor Market: Forecast Assumptions

Frost & Sullivan conducted primary interviews with leading SD-WAN vendors, researched the quarterly and annual reports of

publicly listed companies, and utilized internal and external databases to perform a detailed analysis of customer wins, existing

site deployments, pricing and contracting models, and sales and marketing channels, to arrive at revenue estimates for the global

SD-WAN market. The revenue and sites estimates for leading SD-WAN vendors were sent to individual companies for feedback;

and responses were analyzed further, and compared to Frost & Sullivan’s forecast model. The resulting SD-WAN revenue and

sites market size is the total of individual companies’ estimates. The following assumptions were made to arrive at the 5-year

forecast:

• SD-WAN has evolved from the early adopter stage and entered the growth stage, with vendors reporting strong growth in

the first half of 2018. Interviews with leading vendors validate there is a strong pipeline for 2H 2018, with higher double-digit

growth rates from 2017 to 2018.

• Leading SD-WAN vendor solutions come with integrated security, WAN optimization, and routing capabilities. Cost savings

from using hybrid networks, superior WAN performance from application-aware routing, and simplicity and ease of use from

integrated functions such as stateful firewall, routing and WAN opt are expected to drive market migration from single

function, hardware-centric approach to a software centric approach where a single composite image of software can deliver

multiple functions.

• A majority of the SD-WAN deployments in place today use a physical appliance at the edge, which involves a start-up fee

and a monthly recurring fee for the CPE and software licensing, respectively. While the CPE is available for upfront

purchase, most users choose to pay through a budget-friendly monthly rental. As NFV-based services gain traction, and the

market moves to a uCPE model that can host multiple VNFs on a single appliance, the fee earned through hardware rental

will diminish in the future. Instead customers will incur a licensing fee for the vCPE.

• The US constitutes a majority share of the global SD-WAN revenues, currently; with adoption picking up pace in Europe

and APAC. LATAM has seen some deployments in the last three quarters, but has generally been slower than other regions

in terms of adoption.

• Enterprises continue to show a preference toward managed SD-WAN solution versus the DIY approach; driving SD-WAN

vendor initiatives on building a strong channel consisting of NSPs, MSPs, system integrators, ASPs, and VARs.

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24 BCS 12-2

SD-WAN Vendor Market: Total Revenue Forecast, Global,

2017-2023

Note: All figures are rounded. The base year is 2018. Source: Frost & Sullivan.

SD-WAN market revenue growth rates in 1H of 2018 were higher than predicted in our 2017 report. Based on the 1H

2018 actuals, the forecast for 2H 2018 remains strong. The higher double digit growth rates are typical of a growth market

as businesses embrace SD-WAN.

20171H 2018(actuals)

2H 2018(forecast)

2019 2020 2021 2022 2023CAGR(18-23)

Revenue 300.2 246.2 270.9 801.5 1,218.3 1,827.4 2,668.0 3,788.6 48.9%

Growth Rate 72% 55% 52% 50% 46% 42%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

0

500

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2,000

2,500

3,000

3,500

4,000

Gro

wth

Ra

te (

%)

Re

ve

nu

e (

$ M

illi

on

)

SD-WAN Vendor Market: Total Revenue Forecast, Global, 2017–2023

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25 BCS 12-2

SD-WAN Vendor Market: Regional Breakdown, 1H 2018

North America 78%

Europe 14%

APJ (Asia Pac and Japan)

6%

LATAM 2%

SD-WAN Vendor Market: Revenue Breakdown by Region, 1H 2018

North America represents 78% of the SD-WAN market revenues today, followed by Europe at 14%, and APAC at 6%.

LATAM market is still nascent with a 2% share. Europe and APAC shares are expected to increase throughout the forecast

period, as vendors use their success in the U.S. market to drive sales globally.


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26 BCS 12-2

SD-WAN Vendor Market: Total Customer Sites Forecast,

Global, 2017-2023

The number of sites is expected to grow in the 32-45% range, YoY, to nearly 700K sites by 2023. The scale of global reach available to

Cisco and VMware through their existing channels, and the strong channel partnerships that other vendors have invested in building in

the last 2 years are expected to pay off throughout the forecast period. SD-WAN adoption is increasing rapidly, as validated by the end

user survey results and the strong sales numbers reported by leading vendors—in terms of both sites and revenues. Additionally,

vendors also report a shorter proof of concept cycle now—approximately 3 months as opposed to 6-8 months in the past—thus resulting

in reduced sales cycle time and faster rollout of sites. Note: All figures are rounded. The base year is 2018. Source: Frost & Sullivan.

20171H 2018(actuals)

2H 2018(forecast)

2019 2020 2021 2022 2023CAGR(18-23)

Revenue 90,211 55,920 78,288 194,602 276,334 386,868 526,140 694,505 38.9%

Growth Rate 49% 45% 42% 40% 36% 32%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

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%)

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ite

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SD-WAN Vendor Market: Total Customer Sites Forecast, Global, 2017–2023

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27 BCS 12-2

SD-WAN Vendor Market: Customer Sites Split by

Managed vs. DIY, 2017-2023

Managed SD-WAN sites are expected to continue to represent a majority percentage of the total SD-WAN market, as

businesses continue to prefer a provider managing the solution end-to-end, which frees-up network personnel time to

focus on strategic activities.


0%

20%

40%

60%

80%

100%

2017 2018 2019 2020 2021 2022 2023

DIY 22% 20% 19% 17% 16% 15% 14%

Managed 78% 80% 81% 83% 84% 85% 86%

Cu

sto

me

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tes

(%)

SD-WAN Vendor Market: Customer Sites Deployed by Managed vs. DIY Model, Global, 2017-2023

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28 BCS 12-2

SD-WAN Vendor Market:

Competitive Analysis & Vendor Profiles

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29 BCS 12-2

SD-WAN Vendor Market Share Rankings, 1H 2018

• Since Q1 and Q2 are typically slow quarters for vendors, with

growth ramping up in Q3 and Q4, Frost & Sullivan has chosen

to not call out market shares based on semi-annual (1H 2018)

revenues. With that said, the rankings chart provides insight

into how different vendors are ranked in the market. VMware-

VeloCloud, Silver Peak and Cisco are the top three vendors in

the market, respectively. The “others” category includes Versa

Networks, CloudGenix, Mushroom Networks, Riverbed and

multiple other SD-WAN vendors that each have semi-annual

revenues less than 10 million.

• Cisco’s ranking is based on the solution offered on Viptela

platform, and excludes the Meraki solution.

• Nuage Networks and InfoVista have emerged out of the others

category and moved up in ranking. Both companies have

reported strong growth since Q3 of 2017, and provided

sufficient data for F&S to more accurately estimate their

revenues.

• Aryaka’s ranking is based on separating out the SD-WAN and

CPE licensing fee from the total revenues, which include its

underlay networks.

• Fortinet was interviewed for this report, but is not listed in the

market share rankings as the company doesn’t charge a fee

for SD-WAN functionality, but rather offers it as an in-built

feature with its FortiGate solution to drive adoption of security

services.

• Others category includes several companies (Mushroom

Networks, Versa, CloudGenix, etc ) with less than $10M in

revenues for 1H 2018.

Others

Citrix

Fatpipe

Talari

Aryaka

Nuage

InfoVista

Cisco

Silver Peak

VMware-VeloCloud

0.0% 10.0% 20.0% 30.0%

SD-WAN Vendor Market: Market Shares Rankings by Revenue (in descending order), Global, 1H 2018

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30 BCS 12-2

VMware-VeloCloud

Vmware-NSX SD-WAN by VeloCloud consists of the following:

• NSX SD-WAN Edge in physical or virtual form-factors: The NSX Edge recognizes 3,000+ applications, steers application traffic over the right WAN link

on a per-packet basis, and with dynamic remediation, based on business policy and continuous real-time assessments of the WAN links.

• NSX SD-WAN Gateways: NSX Gateways are deployed at top-tier colocation and IaaS locations around the world. The software gateways provide

cloud-delivered security and connectivity (VPN) services, performance, reliability, and secure optimized paths from all branches to IaaS and cloud

applications.

• NSX SD-WAN Orchestrator: The NSX Orchestrator provides centralized configuration, business policy definition, real-time monitoring, analytics, and

one-click provisioning of virtual services.

NSX SD-WAN offers a multi-tenant, multi segmented architecture with gateways integrated within service provider and cloud provider networks. The cloud-

based solution delivers a broad set of integrated capabilities as a Virtual Network Function (as opposed to the traditional hardware-centric model), which

includes network overlay control, dynamic path selection, application performance monitoring, application access control, network and app visibility, and

VPN services. NSX SD-WAN by VeloCloud is offered as a Cloud Service through partners; as a Telco Service via Telecom Providers; and as an On-Prem

product for those customers who are content with a DIY approach.

1H 2018 Highlights

VMware acquired VeloCloud in Dec 2017. VMware has retained the VeloCloud brand while folding it under its Virtual Cloud Network solution. The

VeloCloud SD-WAN product is offered as NSX SD-WAN by VeloCloud, as it fits perfectly into the Virtual Cloud Network family of products that includes

NSX Data Center and NSX Cloud. The VeloCloud acquisition enables VMware to compete in the network virtualization market that extends from the

enterprise edge to data center and the cloud, end-to-end. The VeloCloud team now has access to the broad network of VMware global partners and

channels, which it can tap into to sell its NSX SD-WAN product. Additionally, the company has cross-sell and up-sell opportunities with the existing NSX

customers.

GTM Strategy: VMware-VeloCloud sells to enterprises through a global channel partner network that includes network service providers, managed service

providers, VARs and system integrators. The company’s cloud-based architecture has been popular with network services providers, which integrate NSX

SD-WAN solutions with their own core networks to offer better application performance, speed up deployment times, and reduce bandwidth costs for their

customers. As of June 2018, VMware-VeloCloud had over 2,000 paying enterprise customers. Its global network of more than 150 channel partners

includes: AT&T, Sprint, IBM, CHT Global, CBTS, GTT, Global Capacity, Megapath, NetOne Systems, Macquarie Telecom, Meriplex Communications,

MetTel, Mitel, Netregy, Newcloud Networks, Saicom, Telstra, TPX Communications, Vonage, and Windstream. The majority of the company’s sales come

from North America, followed by Europe and APAC.

Pricing & Contracting Models: Subscription-based model with 1, 3 or 5 year contracts.

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31 BCS 12-2

Silver Peak

The Company’s Unity Architecture consists of:

• Unity EdgeConnect: a zero-touch virtual or physical appliance for branch, data center and cloud locations. EdgeConnect Virtual runs on all common

hypervisors, including VMware vSphere, Microsoft Hyper-V, Citrix XenServer, and KVM.

• Unity Orchestrator: provides centralized visibility, control and management of data center and cloud hosted applications, and can be deployed on

premises, as-a-service, or in the cloud.

• Unity Boost: an optional WAN optimization performance pack that provides application acceleration capabilities (for example, compression and data

deduplication and replication).

1H 2018 Highlights

• Silver Peak has seen tremendous success in the last three quarters, owing largely to its partnerships. The company has managed to remain independent

in the market, and grow organically, which has attracted investors. The company received a $90 million funding from TCV, which has invested in other

technology companies such as Airbnb and Netflix, to list a couple. The capital will enable Silver Peak to expand its sales and marketing efforts, globally,

and also invest in R&D to evolve its solutions to compete effectively in the market.

• Added edge-to-edge segmentation capabilities to its SD-WAN solution. Network administrators can centrally segment applications and WAN services

into secure zones and automate application traffic steering across the LAN and WAN, in compliance with predefined security policies, regulatory

mandates and business intent.

• Silver Peak expanded its security technology alliance ecosystem, announcing new partnerships with Forcepoint, McAfee and Symantec.

• Continued to expand its service provider partnerships, announcing new partnerships with KDDI Europe and TPx Communications.

• Frost & Sullivan recognized Silver Peak with the 2018 Global Competitive Strategy Innovation and Leadership award based on the company’s ability to

innovate across its product portfolio, and accelerate its go-to-market strategy in line with the market's rapid evolution from the early adopter to the growth

phase of the product lifecycle

GTM Strategy

Currently, 95% of the company’s sales to enterprises are through the expansive global VAR channel that the company has in place. The remaining 5% of

sales are through the service provider channel. Silver Peak expects the service provider channel to represent a higher share of the sales in the future, as the

company focuses on adding service provider partners to its portfolio. Notable service provider partners include Masergy, China Telecom, NTT, and Fujitsu.

Pricing & Contracting Model

• Silver Peak offers its customers annual subscription licensing options for Unity EdgeConnect, which includes Unity Orchestrator. Prices begin at $199

per-site, per-month, with contracting terms of 1, 2 or 3-years.

• The Unity Boost WAN optimization performance pack can be added as an optional subscription for $5 per-megabit-per-second (Mbps), per month. Silver

Peak states that the attach rate of Unity Boost with Unity EdgeConnect is in excess of 50 percent.

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32 BCS 12-2

Cisco SD-WAN

Cisco’s SD-WAN solution consists of the following components:

• vEdge Routers: Physical, virtual, or cloud CPE that sits at the perimeter of a site; e.g., remote offices, branches, public cloud, campuses, data centers.

Additionally, all Cisco ISR, ASR and CSR routers including ENCS platform will support SD-WAN functionality.

• vSmart Cloud-based Controller: The brain of the Cisco SD-WAN solution that centrally controls routing, policy, security, segmentation, and

authentication of all devices on the overlay network.

• vManage Orchestrator: The software that enables centralized configuration and management of the Cisco SD-WAN solution, and provides a real-time

dashboard on the health of the network. This will eventually be completely integrated with the Cisco DNA center to enable users to manage the entire

Enterprise Network, including SD-WAN, SDA and Wireless, in an integrated fashion.

1H 2018 Highlights:

• Cisco acquired Viptela in May 2017, and the integration was announced in August 2018. Cisco has rebranded the Viptela product as Cisco SD-WAN.

Going forward the company will offer two flavors of SD-WAN: Cisco SD-WAN (based on Viptela solution) and Cisco Meraki solution. While IWAN

solutions are not completely retired, the company has decided to not actively market the solution.

• While Cisco will continue to offer businesses the flexibility to deploy SD-WAN using a CPE (vEdge router) and as VNF in the cloud, it recently stated that

all ISR, ASR and CSR routers from the company will support SD-WAN.

• Future plans include integrating Cisco’s security solutions with the SD-WAN fabric to offer businesses a full stack of security features.

GTM Strategy

Cisco will continue to sell SD-WAN through existing channel partners and service provider partners. While the original Viptela service provider partners

were limited to a notable few, Cisco SD-WAN can tap into top Tier 1 and Tier 2 service provider partners to go to market, globally. Notable partners include

BT, Orange Business Services, Vodafone, Verizon and SingTel.

Pricing & Contracting Models: 1) Monthly software license fee based on bandwidth tiers, available in 1, 3 and 5-year terms. For physical CPE, additional

upfront fee applies. 2) Enterprise License Agreement is a negotiated licensing option with an “all you can eat” option for enterprises. To tap into the large

installed base of enterprise routing market that the company controls, Cisco will start offering businesses the option of paying for routers in a perpetual or

subscription-based licensing model, as opposed to the traditional CAPEX model.

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33 BCS 12-2

InfoVista

Ipanema’s architecture consists of a web-based central management system to provision, monitor and report on application performance and SLAs; and a wide range of physical and virtual (VNFs) network endpoints that match the needs of all sites, from very small branch offices to the largest datacenters. Key features of the solution include:

• Application Visibility: Provides full understanding of application usage and performance over the global network—from the smallest detail up to SLA-based application performance management. Dashboards provide conversation and session level detail to analyze performance.

• Application QoS: Dynamically adjusts network behavior and resources to the exact application traffic demand—guaranteeing critical application performance in the most complex and changing traffic situations.

• WAN Optimization: Accelerates application response times, and offers additional virtual bandwidth to the network by enabling application acceleration and data deduplication.

• Dynamic WAN Selection: Enables Dynamic hybrid WAN for multi-networked branch offices, selecting in real-time the best path according to actual performance and application traffic characteristics. Works with Application QoS to determine optimal path for each application on a per-session basis.

• WAN Security: Protects branch Internet connections from threats by encrypting traffic over IP VPNs to public and private DCs, and forwarding Web traffic to Secure Web Gateway providers that allow or deny traffic to go directly to the Internet.

• Application Performance Troubleshooting: Leveraging Netflow data from network devices can provide detailed view into application performance problems down to end point level on the LAN. Coupled with Visibility dashboards, provides the ability for network and applications teams to jointly troubleshoot performance problems under a single pane of glass.

• Ipanema is also available as cloud based service with IpanemaGO.

1H 2018 Highlights

• Announced partnership with Fortinet to pair Ipanema’s dynamic application QoS VNF with the Fortinet Fortigate VNF. The integration offers the enterprise an application aware and secure SD-WAN solution in a single form factor.

• Announced interoperability of its InfoVista Ipanema VNF on Cisco’s Enterprise Network Compute System (ENCS) platform, thus strengthening its commitment to NFV-based services that are emerging in the market.

• Completed VNF certification with Juniper, Cato Networks, Huawei, OneAccess, NetElastic, and Nuage Networks. Working with multiple CSPs building uCPE solutions on these platforms with VNF added.

• Customer win: Signed largest global QSR brand for all UK and Ireland restaurants. Ipanema selected to protect POS transaction performance of new kiosk ordering platform.

GTM Strategy: InfoVista sells through partnerships with NSPs, MSPs and System Integrators and VARs. Currently, sales from each of these two channels are equally divided. Recently added TeloIP, Tech Mahindra, Wipro, and AT&T as channel partners.

Pricing & Contracting Models:

Solution is sold through channel partners as hardware or VNF based platforms. Software is sold via licensed features. Each feature described above is licensed separately. Both perpetual and term-based licenses (1, 3, and 5 year) are available. Cloud-based services are sold on a subscription basis. Most of InfoVista’s channel partner contract terms are for 3 or 5 years; typically, with the enterprise end-user.

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https://www.infovista.com/products/Ipanema-Application-performance-optmization-and-management

34 BCS 12-2

Nuage Networks

Based on its Virtualized Services Platform, Nuage Networks launched its initial datacenter SDN service, Virtualized Cloud Services, in 2013. In 2015, the

company launched its SD-WAN service for both enterprises and service providers, called Virtualized Network Services. Both services leverage the Nuage

Networks Virtualized Services Platform. Nuage’s SD-WAN solution, VNS, consists of the following components:

• Virtual Service Directory: a centralized, multi-tenant policy manager and analytics engine, which network administrators can program via an intuitive

user interface. The directory enables operators to create virtual networks, provision QoS, and provision a service-chaining framework that can seamlessly

insert virtual or physical appliances from tens of partners into the data path. For SD-WAN, it provides lite life cycle management of hosted VNFs on

remote sites, and securely manages the deployment of those VNFs.

• Virtual Services Controller: a centralized controller, based on Nokia’s Service Router OS router software for path control and routing, which also can

horizontally scale-out to support large multi-DC deployments.

• Network Services Gateway: an x86-based edge device that can be deployed in virtual form factor and several physical form factors.

Nuage’s Virtualized Services Platform supports a multi-tenant architecture, with more than 50 customer deployments across enterprise clients; as well a

large number of service providers such as BT, Telefonica, Telia, Telus, Etisalat, China Telecom, China Mobile, Exponential-e and many more. Nuage’s

platform extends SDN capabilities across the enterprise branch, the cloud, and the corporate data center. A common platform means users can use the

same SDN policy controller across the data center and WAN, thus reducing infrastructure and operating costs, while providing end-to-end automation and

security. The Nuage Networks VNS is the core of an SD-WAN 2.0 solution, which combines support for Multi-Cloud, End-to-End security and a flexible

approach to Value Add Services. The later is unique in that Nuage Networks VNS can support embedded functions, hosting VNFs on a uCPE as well as

service chaining to a CO/POP/DC/Cloud where a VNF or a physical appliance is available. This flexibility, combined with its expanding eco-system of 40

partners, gives customers the choice of building services that meet their specific needs. Finally, the Nuage Networks Software Defined Capabilities that offer

visibility, analytics and dynamic threat detection, in addition to micro-segmentation, offer a more secure network overlay—from remote sites all the way to

the DC.

1H 2018 Highlights:

• Added InfoVista WAN optimization functionality to its VNS solution

• Announced partnership with Spectrum Enterprise as the virtualized services platform vendor SD-WAN and related services

• Announced managed SD-WAN partnerships with Globe Telecom in the Philippines, Cogeco Peer 1, and NTT Com India-Netmagic Partners in India

• Etisalat chose Nuage Networks SD-WAN solution as part of its ‘Sahaab Program’ to cloudify network services

Go-to-Market (GTM) Strategy: Service providers and direct to enterprises. Notable service provider customers include BT, China Telecom, Etisalat,

Telefonica, Telia, and Telus.

Pricing Models: Includes both subscription-based and perpetual licences for software. Customers can choose to buy the Network Services Gateway

hardware appliance upfront, or pay a monthly rental fee.

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35 BCS 12-2

Aryaka

Aryaka’s cloud-based approach to SD-WAN comes with the functionality offered in a “as a service” model, and consists of the following:

• Global SD-WAN: Aryaka’s global SD-WAN consists of a purpose-built, fully meshed, private network that uses Layer 1 and Layer 2 services

purchased from global network service providers. Aryaka’s private network uses software-defined networking (SDN) and network function

virtualization (NFV) principles at its core. The SDN-enabled network is tightly integrated with Aryaka’s proprietary, cloud-based WAN optimization

stack—consisting of WAN optimizers and application delivery controllers (ADC). The company’s proprietary WAN optimization stack (announced in

2009) is a NFV-based service, running on commercial off-the-shelf hardware that offers end-to-end TCP Optimization, compression, data

deduplication and application acceleration on its network, to improve application performance and speed up application delivery.

• The SDN platform, with built-in WAN optimization, is what enables Aryaka’s SD-WAN functionality across its network of 30 global PoPs, spread

across 8 continents. The company’s network PoPs are strategically located to ensure that they are less than 30ms away from 95% of business users

and leading cloud provider data centers. Remote users connect to Aryaka’s global SD-WAN platform using Aryaka’s existing VPN client.

• Smart Edge/Smart Link: An x86-based box that provides enterprises with link aggregation, and enables them to use two links simultaneously at the

edge, in an active-active form. The CPE converges an enterprise’s WAN edge functionality at the branch, and includes cloud and VPN connectivity,

routing, firewall, QoS and application level control in a single customer premise equipment (CPE), which is provided and fully managed by Aryaka.

GTM Strategy

Aryaka’s business is comprised of a 50/50 split between direct and channel. The company has more than 100 Global Partners, with well over 10,000

agents in the referral program in Americas.


Aryaka’s service is based on a monthly recurring model that includes all connectivity, management, and CPE. Typical contract terms are 1 – 3 years.

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36 BCS 12-2

FatPipe

FatPipe has been providing hybrid WAN solutions in the market since 2002. The company’s product has evolved in the past 15 years from multipath VPN

(MPVPN)—a single VPN tunnel multiplexed across multiple connections to provide business continuity/disaster recovery for a VPN—to its current

Symphony SD-WAN product family.

The FatPipe Symphony family uses patented multi-path security (MPsec) to manage application flows, and load-balance them across the multiple paths

between the data center and remote site. Symphony comes with an orchestrator (either premises-based or hosted in cloud) that enables companies to

centrally manage their WANs, manage branch office configurations, and deploy appliances with zero-touch installation.

The SD-WAN solution is also available as FatPipe-as-a-Service, which enables cloud service providers and managed service providers to offer

managed hybrid WANs and intelligent multi-path control for WAN-as-a-Service. The FatPipe orchestrator is hosted on an appliance inside of the MSP's

cloud. This model allows for an MSP to have a single multi-tenant FatPipe orchestrator or multiple virtual FatPipe orchestrator appliances.

1H 2018 Highlights

• Announced partnership with Avaya to sell its FatPipe MPVPN® SD-WAN products through the Avaya DevConnect Select Product Program.

• Announced collaboration with Lepton Global Solutions to optimize SD-WAN over Satellite. Lepton's BOOST virtual network utilizes five "engines" to

provide WAN optimization: Security, Efficiency, Quality of Service (QoS), Congestion Control and Virtualized Routing. BOOST provides WAN network

management specifically designed to address the high-latency, low-bandwidth environment of satellite networking with features including Caching,

Compression, Acceleration, VPN IPSEC and Global Single IP Addressing.

GTM Strategy

FatPipe mostly sells through channel partners, including AT&T, TCS, Accenture, HPE, CDW, Insight, Zones, SHI, and PCM.

Pricing & Contracting Models

Customers pay an upfront CPE fee plus a subscription-based licensing fee that is charged monthly, quarterly, or annually. Ninety percent of sites deployed

today by Fatpipe use a physical CPE.

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37 BCS 12-2

Citrix

Citrix SD-WAN is the current SD-WAN solution from Citrix. It incorporates application-aware virtualized WAN connectivity, dynamic routing, separate

routing domains, WAN optimization, firewall, security and end-to-end visibility. Citrix SD-WAN is the evolved version of an earlier product called

CloudBridge. Citrix SD-WAN products are available in several editions:

• Standard Edition that offers SD-WAN capability with application-aware connectivity.

• WANOP Edition that offers WAN optimization functionality.

• Enterprise Edition that combines SD-WAN and WAN optimization functions in a single appliance for branches.

1H 2018 Highlights

• Added cloud-based management and orchestration capabilities to Citrix to allow enterprise management of on-prem and cloud-based deployments.

• Announced integration with Microsoft Azure Virtual WAN, which is a completely integrated service that is scaled dynamically based on total traffic and

connections. It operates through a set of secure API’s that Citrix uses on Azure to manage connections from the enterprise to Azure. This way, there is

a two-way handshake, and Azure knows that a particular inbound connection request is from a particular branch device. The benefit of this solution is

that Azure managed the dynamic scaling on the POPS, and the routing of the traffic inside the Azure network to multiple VNETS. This means that the

enterprise IT manager deals with a single panel to connect from branch to the workload, versus an independent set of configurations through other

solutions. As a result, the enterprise has reduced security risks, and far less complexity for initial set up and ongoing branch adds/changes.

GTM Strategy

Citrix sells through multiple channels including managed service providers, application service providers, and VARs. While the US represents the majority

of sales today, followed by Europe, the company is seeing new demand from India, Brazil, and Mexico, due to the cost reduction benefits of SD-WAN.


Citrix offers two different pricing options for Citrix SD-WAN: 1) CAPEX for the appliance + software licensing to perpetuity; 2) Subscription model for the

appliance + software with 1 to 3-year terms.

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38 BCS 12-2

Versa Networks

Versa’s Cloud IP Platform offers a holistic branch solution that supports SD-WAN, SD-Security, and virtual CPE (vCPE) use cases. The Versa solution is

multi-tenant, open and fully programmable, and delivers branch functionality with a variety of deployment choices, including appliance/white-box, bare metal

x86 servers, virtual machines (ESXi and KVM hypervisor options), and containers. The solution consists of three components that, together, create next-

generation WANs and branch networks:

• Versa FlexVNF: The core building block for Versa VNF solutions, which includes a broad set of network and security functions with carrier-grade multi-

tenancy, programmability, service chaining, service elasticity, and cost-effective deployment choices.

• Versa Director: Single point of centralized control, management and monitoring for both connectivity and services.

• Versa Analytics: A real-time big data analytics engine that provides control, visibility, prediction and feedback for adaptability of networks.

1H 2018 Highlights

• Versa’s NGFW technology received “Recommended” rating by NSS Labs NGFW Group test. Versa Secure Cloud IP integrates cloud networking, SD-

WAN, wireless and mobile connectivity, transport line conditioning and software-defined security services (NGFW/UTM) in a flexible, versatile software

stack that displaces multiple legacy branch-office hardware devices.

• Announced partnership with Hub One, a managed network service provider in France, to offer Managed SD-WAN services.

• Announced partnership with Wholesale Carrier Services (WCS), a leading global managed communications service provider to offer SD-WAN and SD-

Security solutions to enterprises.

GTM Strategy

Versa sells to both enterprises (through reseller and SI channels) and service providers (network service providers and managed service providers); with

the service provider community embracing the solution very quickly due to its multi-tenant, scalable architecture, integrated security functions, big data

analytics, and multitude of deployment choices, which make it easy for them to integrate the solution into their new managed services initiatives.

Versa currently has more than 50 service provider and 200 enterprise deployments spanning North America, Europe, Asia and Central America. Notable

service provider partners include Comcast Business, Verizon, CenturyLink, China Telecom Global, and Tata Communications.


Customers can buy the solution in a subscription-based pricing model with 1, 3 or 5-year contract.

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39 BCS 12-2

Riverbed

Riverbed’s SD-WAN offering consists of two products that the company continues to market actively.

SteelConnect consists of:

• SteelConnect SD-WAN Gateways: Branch gateways (both physical and virtual), which are deployed at branch and remote offices. SteelConnect

Gateways provide basic network services, as well as policy enforcement, extended reporting, and secure automated VPN.

• Data Center SD-WAN Gateways: Offers enterprise-class SD-WAN for large scale, data center deployments.

• SteelConnect Manager: A cloud-based, multi-tenant management portal providing a simplified workflow for designing and deploying distributed and

hybrid enterprise networks, which features Rest APIs for northbound traffic.

• LAN Switches: A line of remote switches that automate LAN deployment, automate network trunking, enhance security with reduced attack surfaces,

drive traffic prioritization for network availability with QoS, and enable cloud stacking through port management across the entire network.

• Access Points: A portfolio of access points that enables enterprise-class, multi-site Wi-Fi for visitors, employees, and the Internet of Things.

SteelHead SD :

• SteelHead SD is a complete WAN Edge platform, seamlessly integrating advanced SD-WAN functionality with industry-leading WAN optimization,

security and visibility services, all in one streamlined device.

• The SD-WAN capability provides centralized, policy-based management and orchestration, zero touch provisioning, and unified connectivity and

management, spanning the entire distributed network fabric—branch WLAN/LANs, data centers, hybrid WANs, and clouds. Riverbed SD-WAN and WAN

optimization services seamlessly integrate to maintain the identification and classification of applications end-to-end; and securely optimize all

applications (legacy, SaaS and IaaS, and mobile) across hybrid networks to users everywhere. SteelHead SD also delivers enterprise-grade routing,

high availability and support for advanced branch and data center topologies.

1H 2018 Highlights

• Announced enterprise-grade Wi-Fi (following integration of Xirrus acquisition), thus extending policy-based network management out to the wireless

edge.

• Announced a major SD-WAN win from state-owned Indonesian social insurance company, PT Jasa Raharja, for SteelConnect; to simplify network

management for 860 of its insurance locations nationwide.

• Announced a win in the LATAM market—The Sol Group, the largest independent supplier of petroleum-based products to the Caribbean basin, has

signed up to deploy SteelConnect™ for its 40 branch offices throughout the region.

GTM Strategy

Riverbed primarily leverages its channel ecosystem to reach enterprise and commercial customers, and deliver value-added services around SD-WAN.

These partners include service providers, systems integrators, value-added resellers, and distributors.


Pricing includes an upfront fee for the appliance, plus subscription fee based on bandwidth tiers. Typical contracting length is 3 to 5 years.

.

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40 BCS 12-2

CloudGenix

CloudGenix SD-WAN solution consists of the following:

• ION Elements: CloudGenix has branded parts of its SD-WAN solution “ION,” for Instant-On Network. Customers can buy an ION appliance (x86 box)

directly from CloudGenix, or supply their own hardware, and install it as a virtual machine.

• The CloudGenix Cloud Controller: This is the central point of control, management, policy setting, analytics, and reporting for the SD-WAN fabric. The

control-plane in the CloudGenix SD-WAN does not require any routing protocols. Instead, the CloudGenix controller programs application flow

forwarding policy into the forwarders (what CloudGenix calls “AppFabricTM”) using APIs.

• AppFabricTM: CloudGenix Application-defined Fabric is automatically created by the IONs interacting with the Controller. The ION elements build one

or more virtual networks that abstract the physical hybrid WAN on which they ride. By default, all traffic flowing across the fabric is encrypted with AES-

256 IPSEC. The application policies for security, compliance, and performance are enforced in the fabric, irrespective of where the application is—in the

data center or the cloud—uniquely using both WAN link metrics (bandwidth, latency, loss, jitter, reachability) and application transaction metrics

(success/failure, response times) for real-time traffic handling and policy enforcement.

Customers can deploy CloudGenix ION elements at the cloud provider data center (for example, as a virtualized instance on AWS) to ensure end-to-end

security and SLAs on cloud connections. For SaaS-based applications where the SaaS provider does not provide the ability to deploy customer VMs,

CLOUD FAST is a unique capability offered by CloudGenix that uses the branch device to offer one-sided visibility, policy enforcement, and control into

SaaS applications. CloudGenix ION elements are able to identify the specific CODECs used for individual data, voice, and video channels for common

enterprise SaaS applications (Office 365, Skype, meet.me, WebEx, to list a few). Each channel can then be monitored and controlled based upon CODEC-

specific requirements such as latency, jitter, packet loss, bandwidth, and MOS score, with no administrator intervention required. CLOUD FAST offers

deep visibility into application transaction metrics by breaking down network, server, and application response time, which can pinpoint the exact problem

domain (SaaS provider, server, WAN provider) in case of application downtime or degraded user experience.

1H 2018 Highlights

• Announced an investment from Intel Capital to drive the software-based transformation of networks. CloudGenix delivers Intel server-based networking

software that eliminates the need for proprietary hardware routers.

• Announced several new customers across vertical: Shawmut Design, Members Credit Union, Wright Pierce, and Global Employment Solutions, to list a

few.

GTM Strategy

CloudGenix sells through global channel partners that include VARs, master service agents, and managed service providers. Notable additions include

AVANT, AHEAD, Telarus, Intelisys, Wipro, and Promark. 80% percent of the company’s sales currently come from North America.

Pricing & Contracting Model: CloudGenix SD-WAN is purchased using a monthly, 1-year or 3-year subscription, with up-front acquisition or rental of

hardware for remote sites and data centers.

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41 BCS 12-2

Appendix

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42 BCS 12-2

Learn More—Next Steps

Analyst Briefing Series

- http://www.frost.com/prod/servlet/analyst-briefings.pag?ref=RHC

Industry Think Tanks

- http://www.frost.com/prod/servlet/training-elearning.pag

Events Calendar

- http://www.frost.com/prod/servlet/events-upcoming.pag?as=attend&ref=RHC

Growth Opportunity Newsletters

- http://www.frost.com/prod/servlet/growth-opp-news.pag?ref=RHC

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http://www.frost.com/prod/servlet/analyst-briefings.pag?ref=RHC



http://www.frost.com/prod/servlet/training-elearning.pag



http://www.frost.com/prod/servlet/events-upcoming.pag?as=attend&ref=RHC



http://www.frost.com/prod/servlet/growth-opp-news.pag?ref=RHC





43 BCS 12-2

Business Communication Services (BCS) Program

Publications

Business Communication Services (BCS)

Ref. No.

Upcoming: Global SD-WAN Vendor Market Update, Full-year 2018 1Q/2Q19

Upcoming: U.S Wholesale Carrier Ethernet Services Market Update, 2018 1Q19

Upcoming: U.S Business Carrier Ethernet Services Market Update, 2018 1Q19

Upcoming: U.S. Managed SD-WAN Services Market Analysis, 2018 3Q18

Upcoming: Global SD-WAN Vendor Market Update, Mid-year 2018 3Q18

2018 SD-WAN End User Survey Results: Deployment Rates Double, Superior WAN Performance a Key Driver,

and MPLS Usage Remains Strong SPIE 18-24

Dedicated Internet Access Services Market Forecasts, 2018 BCS 12-1

The Journey to a Software-defined Branch: It is a Marathon, Not a Sprint SPIE 18-07

Stratecast Predictions 2018: The Year Ahead – Digital Transformation is Affecting Everything BCS 11-6

Analysis of the Software-Defined WAN Market, 2017 BCS 11-5

The Rise of Managed SD-WAN: Network Service Providers Strategize to Ride the Wave SPIE 17-36

MPLS/IP VPN Services Market Update, 2017 BCS 11-4

Software-defined Remote Access: An Inside Look at Aryaka’s SmartACCESS Solution SPIE 17-29

2016 Enterprise WAN Adoption Trends: Ethernet & MPLS Usage Steady, Hybrid WAN on the Rise SPIE 17-17

Business Carrier Ethernet Services Market Update, 2017 BCS 11-3

Wholesale Carrier Ethernet Services Market Update, 2017 BCS 11-2

2016 SD-WAN End User Survey: Enterprise Interest on the Rise, but Limited Market Adoption so far SPIE 17-06

List of archived BCS studies available upon request

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http://www.frost.com/c/10107/sublib/display-report.do?id=A314-00-96-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj1BMzE0LTAwLTk2LTAwLTAwJmNzcW5jPTE1MjkwNjcyMTY2ODgmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MjkwNjcyMzk4ODM=



http://www.frost.com/c/10107/sublib/display-report.do?id=9B0F-00-4D-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj05QjBGLTAwLTRELTAwLTAwJmNzcW5jPTE1MjAzNTQ1ODMzODAmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MjAzNTQ2NTAyMTU=



http://www.frost.com/c/10107/sublib/display-report.do?id=A314-00-95-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj1BMzE0LTAwLTk1LTAwLTAwJmNzcW5jPTE1MTMyNzQ3NDgxODkmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MTMyNzQ3NzI4NDk=



http://www.frost.com/c/10107/sublib/display-report.do?id=A314-00-94-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj1BMzE0LTAwLTk0LTAwLTAwJmNzcW5jPTE1MDkwMzE1Nzc3NjYmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MDkwMzE2MzgzNzM=



http://www.frost.com/c/10107/sublib/display-report.do?id=9B0F-00-3D-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj05QjBGLTAwLTNELTAwLTAwJmNzcW5jPTE1MDgyNTU3NTA1MzkmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MDgyNTU4NjgxNjY=



http://www.frost.com/c/10107/sublib/display-report.do?id=A314-00-93-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj1BMzE0LTAwLTkzLTAwLTAwJmNzcW5jPTE1MDM1ODc4OTY0MzImY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MDM1ODgwMjA4NjE=



http://www.frost.com/c/10107/sublib/display-report.do?id=9B0F-00-36-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj05QjBGLTAwLTM2LTAwLTAwJmNzcW5jPTE1MDM0MTQ2ODM4NDgmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE1MDM0MTQ3MTU5OTE=



http://www.frost.com/c/10107/sublib/display-report.do?id=9B0F-00-2A-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj05QjBGLTAwLTJBLTAwLTAwJmNzcW5jPTE0OTQ5NDUxMTM3ODUmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE0OTQ5NDUxODgxMjg=



http://www.frost.com/c/10107/sublib/display-report.do?id=A314-00-92-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj1BMzE0LTAwLTkyLTAwLTAwJmNzcW5jPTE0OTM4MjUzMTg5NDUmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE0OTM4MjUzMzY0MTA=



https://www.frost.com/c/10107/sublib/display-report.do?id=A314-00-91-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj1BMzE0LTAwLTkxLTAwLTAwJmNzcW5jPTE0OTI3MDU2MTI5MTImY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE0OTI3MDU3Mzc4NjU=



http://www.frost.com/c/10107/sublib/display-report.do?id=9B0F-00-1F-00-00&bdata=aHR0cHM6Ly93d3cuZnJvc3QuY29tL2MvMTAxMDcvc3VibGliL2NhdGVnb3J5LWluZGV4LmRvP2FuY2hvcj05QjBGLTAwLTFGLTAwLTAwJmNzcW5jPTE0ODc2OTQ3MzQ3MzcmY2F0ZWdvcnk9aW5kdXN0cnlAfkBJbmR1c3RyeSBSZXNlYXJjaEB+QDE0ODc2OTQ3NTc5ODA=



44 BCS 12-2

Market Engineering Methodology

One of Frost & Sullivan’s core deliverables

is its Market Engineering studies. They

are based on our proprietary Market

Engineering Methodology. This approach,

developed across the 50 years of

experience assessing global markets,

applies engineering rigor to the often

nebulous art of market forecasting and

interpretation.

A detailed description of the methodology

can be found here.

Source: Frost & Sullivan.

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http://www.frost.com/prod/servlet/me-research.pag

45 BCS 12-2

Legal Disclaimer

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