Network Automation Market Analysis 2020-2024: Growth by Top Companies Anuta Networks, Arista Networks, BMC Software, Cisco, Cumulus Network, Fujitsu, HCL Technologies, IBM, Intraway,IPsoft, Juniper Networks, NetBrain Technologies, Puppet, Red Hat, SolarWi

With soaring demand from diverse industry verticals, network automation market is poised to surpass USD 7 Bn by 2024. The market derives much of its growth from the surge in demand for software defined networking (SDN) and network function virtualization (NFV) technologies. Other contributing factors include the advent of 5G network technology and government endeavors to commercialize the same.

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Enterprises are incorporating virtual network within the existing network infrastructure to address networking issues. Demand for virtual network infrastructure is growing in line with augmenting need for SDN architecture and rapid adoption of hyper-scale cloud networking.

Elaborating on the competitive scenario, the key players in network automation market are resorting to various strategies to gain an edge over others. Such strategies include investment in R&D activities, mergers, acquisitions, and partnerships. For instance, leading telecom providers in Japan invested USD 45.5 Bn towards the development of 5G technology in the country.

The Major Key Players in the Market are as follows:
1. Anuta Networks
2. Arista Networks
3. BMC Software
4. Cisco Systems, Inc.
5. Cumulus Network
6. Fujitsu
7. HCL Technologies
8. IBM Corporation
9. Intraway
10. IPsoft, Inc.
11. Juniper Networks
12. NetBrain Technologies
13. Puppet
14. Red Hat, Inc.
15. SolarWinds Worldwide LLC
16. Wavestone
Software Defined Networking (SDN) is network mechanism that allows rapid provisioning of network resources by centralizing the network infrastructure. SDN technologies offer cost-effective techniques to carry out various other functions such as load-balancing, network address translation, and others.

SD-WAN technology captured more than 67% of the global network automation market share in 2017. The technology can be deployed at almost 40% lesser cost as compared to other technologies. Leading market players such as Citrix, CloudGenix, and Aryaka Networks are some of the major names participating in the expanding SD-WAN technology market landscape.

Network automation market in BFSI sector held over 18% share in 2017. Financial institutions across the globe are embracing digitalization and the trend of automating front and back office operations is gaining prominence in the banking sector. Reportedly, the adoption of automation helps financial institutions to increase the efficiency of business IT operations by up to 60% driving the market demand in this vertical.

Network automation market is experiencing growth spurts in Asia Pacific with the region anticipating a CAGR of over 28% over 2018-2024. The region is striving to gain precedence in 5G technology and as a result, massive investments are being poured in the development of telecom infrastructure. In addition, macroeconomic factors such as fast-track urbanization and expanding spending capabilities have also had a profound impact on the market growth.

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North America market has witnessed remarkable progress over the recent years, primarily driven by the fast-paced technological developments coupled with heavy R&D investments in the continent. Canada is expected to emerge as a major revenue pocket with the regional market expected to observe a CAGR of 22% over 2018-2024. Additionally, the rising advent of industry 4.0 model across a myriad range of verticals will further fuel network automation market demand.

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