Self-healing Networks Market to reach $13.9 billion, Globally, by 2031 at 34.6% CAGR: Allied Market Research

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Mar 28, 2023, 04:25 ET

PORTLAND, Ore., March 28, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Self-healing Networks Market by Component (Solution, Services), by Network Type (Physical, Virtual, Hybrid), by Enterprise Size (Large Enterprises, Small and Medium Enterprises), by Deployment Mode (On-Premises, Cloud), by Application (Network Provisioning, Network Bandwidth Monitoring, Network Traffic Management, Network Access Control, Others), by Industry Vertical (IT and Telecom, BFSI, Media and Entertainment, Healthcare and Life Sciences, Retail and Consumer Goods, Education, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the self-healing networks industry generated $729.6 million in 2021 and is estimated to reach $13.9 billion by 2031, witnessing a CAGR of 34.6% from 2022 to 2031.

Drivers, Restraints, and Opportunities

Rising demand for high network availability, increasing reliance of businesses and consumers on efficient and scalable networks for smooth work operations without failure of the network system, and surge in cyber threats drive the global self-healing networks market. However, implementing self-healing network technology requires advanced equipment and software, which can be expensive to purchase and maintain. Moreover, complex and time-consuming implementation process increase the cost of deployment. These factors may restrain the market growth to some extent. Moreover, by analyzing network traffic and identifying suspicious activity, self-healing networks can help prevent cyber-attacks. This factor is expected to create lucrative opportunities in the industry.

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Covid-19 scenario

The COVID-19 pandemic had a mixed impact on the self-healing networks market. With the increase in remote work and online communication, there was a growing need for reliable and resilient networks. Hence, several organizations invested in self-healing networks to ensure the uninterrupted operation in their networks.
Moreover, the pandemic also highlighted the importance of reliable and resilient networks, as businesses and individuals increasingly relied on digital communication and connectivity for remote work, education, and socializing. This led to an increase in investment in network infrastructure and self-healing technologies.

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The IT and telecom segment held the lion's share in 2021

In terms of industry vertical, the IT and telecom segment has garnered the major share in 2021, generating more than one-fourth of the global self-healing networks market revenue as these industries are designed to detect and automatically recover from faults or failures that may occur within the network. Moreover, the healthcare and life sciences segment is likely to dominate in terms of revenue and cite the fastest CAGR of 41.6% from 2022 to 2031. Self-healing networks services ensure reliable and secure data transfer between medical devices, electronic health records, and other healthcare information systems.

The solution segment to maintain its dominance during the forecast period

Based on component, the solution segment held the highest share in 2021, holding more than two-thirds of the global self-healing networks market revenue and is projected to maintain its dominance by 2031. The solution segment includes the development of more advanced automated fault detection tools that can detect issues in the network in real-time, and trigger automated responses to fix the issues. On the other hand, the services segment would showcase the fastest CAGR of 37.6% throughout the forecast timeframe. The services segment provides robust security features that protect against cyber threats.

The physical segment to rule the roost during the forecast period

In terms of network type, the physical segment accounted for the highest share in 2021, holding nearly three-fifths of the global self-handling networks market revenue and is expected to rule the market during the forecast period. The growth is attributed to its ability to make adjustments to prevent or recover from failures and to monitor the network. Moreover, the virtual segment would portray the fastest CAGR of 37.7% from 2022 to 2031, as it reduces the impact of network failures on end-users by isolating and rerouting traffic, and helps to minimize downtime.

North America held the major share in 2021

By region, North America accounted for the highest share in 2021, holding more than one-third of the global self-healing networks market revenue. The growth is attributed to the rising technological trends in the IT & telecom sector in the region. On the other hand, Asia-Pacific is expected to rule the market during the forecast period and would portray the fastest CAGR of 39.2% from 2022 to 2031. The growth of the market is driven by ongoing digital and economic transformation of the region.

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Leading Market Players

Ericsson
Versa Networks, Inc.
IBM Corporation
VMware, Inc.
Appnomic
Nokia
Fortra LLC
Ivanti
Cisco Systems, Inc.
CommScope

The report analyzes these key players in the global self-healing networks market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report helps determine the business performance, operating segments, developments, and product portfolios of every market player.

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