Network Automation Market to grow at 20%+ CAGR to 2024

Network Automation Market in service segment to 30% CAGR over 2018-2024 due to a rise in outsourcing activities of networking companies.

Network Automation Market in cloud network segment is projected to witness more than 31% CAGR during the forecast period. The growth in this segment is attributed to an increased demand for the adoption of cloud-based services by start-ups and SMEs. An increase in the demand for Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) in private and public sectors has driven the market growth of cloud-based solutions in the market.

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The software segment held a major market share of more than 76% in 2017 due to the presence of large organizations using legacy hardware network equipment and their reluctance to migrate and adopt cloud-based services. In this segment, Intent-Based Networking (IBN) is anticipated to observe the highest market growth with a CAGR of more than 29% during the forecast period. Network automation market in intent-based networking is an extensive form of SDN network architecture that allows the enterprises to substitute the usage of complex networks by a centralized data-center network. The adoption of IBN systems enables the network administrator to deploy a scalable and flexible network architecture into the existing network infrastructure, reducing the deployment cost by around 60% and increasing the network uptime.

North America dominates the network automation market due to the presence of large key players in this region. The advancements in recent technologies such as IoT, AI, and SD-WAN are projected to offer an ample number of opportunities to the key players in this market. Canada is projected to witness the highest market growth with a CAGR of more than 22%. The growth in this segment is attributed to a surge in the Foreign Direct Investment (FDI) to boost the manufacturing sector. Cisco Systems, Juniper Networks, Apstra, BMC Automation, and IBM are some of the major key vendors of the market in this region. Further, the emergence of industry 4.0 is anticipated to propel the growth of the market in the manufacturing sector. For instance, IEEE has developed a network architecture called Software Defined Industry Automation Network (SDIAN) to provide online dynamic configuration and real-time communication during the manufacturing process.

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An increase in the demand for Network Function Virtualization (NFV) enables the organization to replace the legacy hardware appliances that increase the network uptime by around 40%. The adoption of NFV technologies brings flexibility to the networks, allowing an enterprise to reduce the additional costs incurred in procuring the newly introduced network devices. Several government initiatives for the commercialization of 5G technologies are anticipated to boost the network automation market over the forecast timeline.

The virtual network is expected to witness the highest market growth with a CAGR of more than 29% over the forecast timeline. The network automation market growth in this segment is attributed to an upsurge in the demand for SDN architecture and the adoption of hyper-scale cloud networking. Further, a rise in the adoption of NFV technologies will have a positive impact on the growth of virtual networks in the market.

The growth in this market is attributed to an upsurge in the demand for NFV and SDN technologies. Software Defined Networking (SDN) is a network architecture that allows IT organizations to substitute complex networks. It allows an enterprise to centralize the network infrastructure to control the rapid provisioning of network resources. Further, SDN technologies offer directly programmable and cost-effective techniques to perform various functions such as load-balancing, network address translation, and virtual private networks. Network Automation market is projected to surpass USD 7 billion by 2024.

Browse key industry insights spread across 310 pages with 432 market data tables & 42 figures & charts from the report, “Network Automation Market Size By Type (Local Area Network (LAN), Wide Area Network (WAN), Data Center Networks, Cloud Networks, Wireless Networks), By Component (Software [Intent-based networking, SD-WAN, Network Automation Tools], Service [Professional Service, Managed Service]), By Network Infrastructure (Physical Network, Virtual Network, Hybrid Network), By Application (Manufacturing, Telecom & IT, Healthcare, Energy & Utilities, BFSI), By Deployment Type (On-Premise, Cloud), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Taiwan, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

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Table of Contents (ToC) of the report:

Chapter 5. Global Network Automation Market, By Type
5.1. Key trends, by type
5.2. LAN
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 - 2024
5.3. WAN
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 - 2024
5.4. Data Center networks
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 - 2024
5.5. Cloud networks
5.5.1. Market estimates and forecast, 2013 - 2024
5.5.2. Market estimates and forecast, by region, 2013 - 2024
5.6. Wireless networks
5.6.1. Market estimates and forecast, 2013 - 2024
5.6.2. Market estimates and forecast, by region, 2013 - 2024

Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/network-automation-market

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