Accelerating Network Automation: Global Market Forecast 2024

"The Business Research Company recently released a comprehensive report on the Global Network Automation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The network automation market size has grown exponentially in recent years. It will grow from $7.33 billion in 2023 to $9.11 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to increased data traffic, demand for operational efficiency, cost reduction initiatives, vendor-agnostic solutions, increased network complexity..

The network automation market size is expected to see exponential growth in the next few years. It will grow to $22.7 billion in 2028 at a compound annual growth rate (CAGR) of 25.6%. The growth in the forecast period can be attributed to focus on self-healing networks, zero trust security models, containerization and microservices, network-as-a-service (naas) models, compliance and regulatory requirements.. Major trends in the forecast period include ai-driven automation, edge computing growth, ai and ml integration, hybrid and multi-cloud environments, network slicing for customization.

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Market Drivers and Trends:

The increasing adoption of cloud-based services is driving the growth of the network automation market. Network automation establishes consistent infrastructure and operations while reducing labour and promoting productivity gains and operational efficiency. Cloud-based applications or tools require an automated platform for smooth deployment and operations of applications, life-cycle management, policy-based distribution, and others. For instance, according to the survey conducted by Clouds 247 Research in 2022, more than 60% of companies are planning to employ cloud computing in the next 18 months, and more than 45% of companies have shifted to cloud IT infrastructure by the time of the study. Thus, an increasing shift in companies' interests toward cloud-based services is expected to boost demand for network automation during the forecast period.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Cisco Systems Inc., Juniper Networks Inc., NetBrain Technologies Inc., Forward Networks Inc., SolarWinds Inc., Apstra Inc., BlueCat Networks Inc., Entuity Ltd., Veriflow Systems Inc., Riverbed Technology Inc., Itential LLC, Volta Networks Inc., Sedona Systems Ltd., Kentik Inc., NetYCE B. V., Versa Networks Inc., AppViewX Inc., 128 Technology Inc., Anuta Networks Inc., IBM Corporation, Hewlett Packard Enterprise Development LP, Fujitsu Limited, Network Automation Inc., Micro Focus International PLC, Arista Networks Inc., Extreme Networks Inc., BMC Software Inc., VMware Inc., SaltStack Inc., BackBox Software Ltd., HCL Technologies Limited, Red Hat Inc., NVIDIA Corporation, Intraway Corporation

Network Automation Market 2024 Key Insights:

• The network automation market size is expected to see exponential growth in the next few years. It will grow to $22.7 billion in 2028 at a compound annual growth rate (CAGR) of 25.6%.
• Rapid Cloud Adoption Fuels Growth In Network Automation Market
• Network Automation-As-A-Service (NAAS) And Saas Transforming The Future Of Network Automation Market
• North America was the largest region in the network automation market in 2023

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