Network Automation Market size to record USD 29.02 billion growth from 2023-2027, Use of AI with network automation is one of the key market trends, Technavio

NEW YORK, April 19, 2024 /PRNewswire/ -- The global network automation market size is estimated to grow by USD 29.02 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 16.95% during the forecast period. The Network Automation market is driven by business demands for real-time solutions in industries like BFSI, IT, manufacturing, and healthcare. AI technologies, including virtual agents, chatbots, and machine learning, enable advanced business intelligence and centralized network management. Key trends include network functions virtualization, SD WAN, and 5G technology, with solutions and cloud segments leading the growth. Security concerns and standardization are ongoing challenges.

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Innovation Sparks Market Growth:

The Network Automation Market is experiencing significant growth due to the digital transformation of various industries, including BFSI, IT, healthcare, energy and utilities, and telecommunication. Network automation and virtualization are key technologies driving this growth, enabling large enterprises and SMEs to optimize their data center infrastructure and improve management and security. AI and machine learning are integral to network automation, providing advanced capabilities such as pattern recognition, voice and speech recognition, and autonomous driving. Solutions segments include configuration management tools, SD WAN, and cloud services. Networking companies are investing in networking technologies like switches and routers to address business demands for increased bandwidth and security in the face of growing internet traffic and lockdown measures. The market also encompasses network functions virtualization, open source projects, and 5G technology, with CSPs prioritizing standardization and security concerns. Enterprise networks require network architectures that can adapt to evolving business needs and emerging technologies like IoT products and edge computing.

Addressing Challenges:

In the current digital landscape, both Large Enterprises and SMEs are increasingly adopting cloud-based network automation software for managing marketing operations. The Telecommunication sector, in particular, benefits significantly from AI and ML in network optimization and IoT product integration. Edge computing facilitates real-time processing, while bandwidth networks and data centers ensure seamless connectivity. However, the shift to cloud computing raises security concerns, as enterprises transfer control of their data to CSPs. Lockdown measures have accelerated this trend, leading to a surge in internet traffic. Solutions and cloud segments are driving the networking technologies market, with network functions virtualization and open-source projects gaining traction. Enterprises grapple with security threats, necessitating robust management tools for digital transformation. Network architectures evolve, embracing 5G technology, standardization, and automation for improved performance and capacity. Despite these advancements, security remains a top priority, with networking companies focusing on performance, capacity, and advanced solutions to mitigate risks.

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Analyst Review

The Network Automation Market is experiencing significant growth due to increasing Business demands in various sectors, including Healthcare, BFSI, Telecommunication, and Energy and Utilities. Network Automation, a key component of IT infrastructure, enables the management and security of Switches and Routers through Artificial Intelligence (AI) and Machine Learning (ML). This technology is crucial in the current scenario, with Lockdown measures increasing Internet traffic and the need for Bandwidth networks. Furthermore, the rise of IoT products and Edge computing necessitates efficient Network Virtualization and Data Center Infrastructure. Software solutions in Network Automation are essential for managing Information Technology (IT) in enterprises and ensuring Management and Security. Overall, Network Automation is a vital tool for meeting the complexities of modern-day Networking needs.

Market Overview

The Network Automation Market is experiencing significant growth due to the increasing demand for efficient and secure network operations. With the implementation of technologies like Artificial Intelligence (AI), Machine Learning (ML), and IT automation, networks are becoming more intelligent and self-healing. The Center for Internet Security (CIS) and other organizations emphasize the importance of network security and the need for automation to mitigate threats and respond to incidents in a timely manner. The use of technologies such as Software-Defined Networking (SDN) and Network Function Virtualization (NFV) enables network managers to configure and manage their networks more effectively and cost-effectively. The market for Network Automation is projected to grow substantially in the coming years, driven by the need for increased network agility, scalability, and security.

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Key Companies:

Network Automation Market is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Network Automation Market report includes information on the product launches, sustainability, and prospects of leading vendors including Anuta Networks International LLC, AppViewX Inc., Arista Networks Inc., Backbox Software Ltd., BlueAlly, BlueCat Networks Inc., BMC Software Inc., Cisco Systems Inc., HCL Technologies Ltd., International Business Machines Corp., Itential Inc., Juniper Networks Inc., Kentik Inc., NetBrain Technologies Inc., NetYCE BV, Open Text Corp., Palo Alto Networks Inc., SolarWinds Corp., Versa Networks Inc., VMware Inc.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio