Network Automation Market to Surpass Market Valuation of USD 33.79 Billion by 2031 | SkyQuest Technology
Westford USA, Aug. 15, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Network Automation Market will reach a value of USD 33.79 Billion by 2031, with a CAGR of 22.60% during the forecast period (2024-2031). Network automation has emerged as the most indispensable technology and is currently ruling several domains. On the business level, where professionals find difficulty maintaining and managing networking infrastructure, network automation offers the best assistance. Hence, businesses are increasingly adopting these solutions and services since they significantly help in reducing human errors. Moreover, the higher availability of cloud-based storage is also impacting the market growth.
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Browse in-depth TOC on the “Network Automation Market”
Pages – 157
Tables – 94
Figures – 76
Network Automation Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 6.62 Billion |
| Estimated Value by 2031 | USD 33.79 Billion |
| Growth Rate | Poised to grow at a CAGR of 22.60% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Solution, Professional Service, Network Type, Deployment Type, End User, Organization Size, Enterprise Vertical and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Increasing Investments in Emerging Automation Solutions and in R&D |
| Key Market Drivers | Growing Cloud Infrastructure and Network Traffic |
On-Premises Segment to Lead the Market, Supported by its Major Benefits to Enterprises
By deployment type, the on-premises segment registered the maximum market share in 2022 and is projected to lead dominance in the future owing to its capabilities that allow companies to study the gathered data and enhance customer service. On-premises automation requires a one-time license, a wider scope of tailoring network automation as per business needs, and an annual service agreement. These benefits are supporting the growth of the segment. Nonetheless, the cloud segment is anticipated to grow at a speedy pace over the forecast period owing to the growing demand for strong cloud-based services and solutions to improve productivity of SMEs.
IT Segment to Witness Notable Growth Due to Growing Use of Network Automation Services
By application, the IT or Information Technology segment held a notable share of the market in 2022 and is projected to lead over the forecast period also owing to development of IT industry, resulting in early adoption of these solutions. Rising uses of network automation services and increasing adoption of IT infrastructure is also propelling the segment growth. The manufacturing segment will grow at a considerable rate in the coming years owing to increasing adoption of network automation solutions that lead to smart production and factory automation. This streamlines decision making process through interlinked devices.
North America to Lead the Market Owing to the Presence of Several Prominent Players
Geographically, North America dominated the network automation market owing to the speedy adoption of network automation services and solutions. over, the presence of several leading players like IBM Corporation, Cisco Systems Inc., Juniper Networks, BMC Software, and more is propelling the market in the region. The leading companies are heavily investing in the R&D of network infrastructure and data centers, ultimately impacting the market growth.
Asia Pacific is expected to be the fastest growing segment owing to growing penetration of network automation services and solutions. The market growth in the region is also attributed to the growth of newbies or new entrants using network automation. Mainly, China and India hold a large clientele, creating new opportunities in the region and fueling the demand.
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Network Automation Market Insight
Drivers:
- Increasing Demand for Data Center Networks
- Growing Number of Web-Connected Devices
- Growth of Industrial Digitalization
Restraints:
- Rising Security Threats
- Accessibility to Open-Source Automation Solutions
- Complexities Related to Network Automation
Prominent Players in Network Automation Market
The following are the Top Network Automation Companies:
- Cisco Systems Inc.
- Juniper Networks Inc.
- Huawei Technologies Co. Ltd.
- IBM Corporation
- Hewlett-Packard Development Company L.P.
- NEC Corporation
- BMC Software Inc.
- Micro Focus International plc
- Infosys Limited
- Tata Consultancy Services Limited
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Key Questions Answered in Global Network Automation Market Report
- What is the current size of the Global Network Automation Market, as per SkyQuest Technology?
- Which region is holding a larger share of the Network Automation Market?
- Who are the key players profiled in the Network Automation Market?
This report provides the following insights:
Analysis of key drivers (growing demand for operational efficiency, complexity of network infrastructure demanding integration of automation, increasing adoption of ML and AI), restraints (intricacy of legacy systems, shortage of skilled workforce, high implementation cost), opportunities (growing operational efficiency, agility and scalability, growing adoption of hybrid-cloud and multi-cloud strategies), and challenges (workforce readiness, organizational silos and cultural resistance, lack of standardization) influencing the growth of network automation market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the network automation market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the network automation market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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