by Network automation technology enables the automatic deployment, configuration and management of networks eliminating manual processes. Network automation solutions help optimize networks through real-time monitoring, analytics and rapid response capabilities. They support critical business functions by facilitating predictive maintenance and diagnosis, reducing downtime and ensuring seamless connectivity. The global Network Automation Market is estimated to be valued at US$ 25.54 Bn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rapid adoption of advanced technologies like artificial intelligence and machine learning has boosted the network automation market. These technologies enable automation of complex tasks like configuration management, incident management and performance monitoring. They analyze vast amounts of network data to identify anomalies and predict faults, streamlining issue resolution. AI-powered network automation solutions are being used by several organizations to remotely manage large, geographically dispersed networks. This has significantly reduced operational costs while improving agility, security and service delivery. As networking becomes more sophisticated, the role of AI and ML in automating activities across domains is expected to grow over the coming years.
SWOT Analysis
Strength: Network automation reduces operating costs and optimizes network efficiency. It allows faster deployment of new applications and improves network performance.
Weakness: Lack of skilled workforce for implementing network automation solutions is a challenge. Network complexity and different network devices from multiple vendors also make automation difficult.
Opportunity: Increasing demand for network automation from industry verticals like IT & telecom, transportation, energy & utilities presents growth opportunities. Growth in IoT and need for agile networks further boost the market.
Threats: Integration issues with legacy network devices pose a threat. Cybersecurity risks can also impact market growth. Lack of standards is another challenge.
Key Takeaways
The Global Network Automation Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to increase from US$ 25.54 billion in 2024 to US$ 66.11 billion by 2031, registering a CAGR of around 9.4% during the forecast period.
Regional analysis: North America dominates the global network automation market currently. This is attributed to growing demand from verticals such as IT & telecom in the region. Asia Pacific network automation market is expected to grow at the fastest rate during the forecast period due to rapid digitization and infrastructural developments in countries such as China and India.
Key players operating in the network automation market are Cisco Systems, Juniper Networks, IBM, Micro Focus, Net Brain, SolarWinds, Riverbed Technology, Bmc Software, Apstra, and BlueCat Networks. Cisco and Juniper Networks have the largest market share currently due to their product portfolio and global presence. Newer players are focusing on product innovation to gain market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
