Global Network Automation Market Garnered around USD 15 Billion in 2021 and to Grow with a CAGR of ~22% during 2022-2031; Market to Grow on Account of…

Kenneth Research

Key Companies Covered in the Global Network Automation Market Research Report by Kenneth Research are Micro Focus International plc, Cisco Systems, Inc., IBM Corporation, Telefonaktiebolaget LM Ericsson, NetBrain Technologies, Inc., Versa Networks, Inc., BMC Software, Inc., BackBox Software Ltd., HCL Technologies Ltd, Forward Networks, Inc, and others.

New York, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on the Global Network Automation Market for the forecast period, i.e., 2022-2031 which includes the following factors:

Market growth over the forecast period

Detailed regional synopsis

Market segmentation

Growth drivers

Challenges

Key market players and their detailed profiling

Global Network Automation Market Size:

The global network automation market gathered around USD 15.0 billion in 2021 and to grow with a CAGR of ~22% during the forecast period. The need for automated networks among enterprises which is fueled by better network architectures and management tools is responsible for the expansion of the market. For instance, small and medium-sized enterprises (SMEs) are the base of the global economy, according to the World Bank. SME enterprises make up about 95% of all businesses worldwide and account for 55% of all jobs. Almost 585 million business owners populate around the world in 2019. The need for network automation to ensure the efficient operation of businesses grows as their number increases. Additionally, a more automated infrastructure uses fewer manual processes, which lowers operating costs. The World Bank estimates that by 2020, 60% of people will be internet users, up from 7% in 2000. As more people rely on the internet for their daily tasks, the network system has grown complex and can only be made simpler with the aid of automation.

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Global Network Automation Market: Key Takeaways

North American region acquires a significant share of the revenue

Large enterprises to influence the revenue graph

Telecom & IT segment retains prominent in the end-user segmentation

Story continues

Increasing Remote Workers and Network Traffic to Boost the Market Growth

It is estimated to be a dramatic increase in remote workers from about 8% to around 31%. Pre corona estimates that roughly 56 million people are expected to work full-time in the ICT sector globally in 2020, up 4 percent from 2019. The demand for network automation is rising globally as a result of the growing number of IT personnel. In addition to this, the COVID-19 pandemic had a favorable effect on the network sector owing to the change in working habits that included working from home. Additionally, the overall data traffic of the network increased after the pandemic started. The aggregate data volume across Verizons networks, for instance, has increased 19% from pre-covid levels according to the provider of wireless products and services.

On account of its manual nature of up to 96% of network upgrades, operational expenses are typically 2-3 times greater than the network costs. In order to keep up the online realm, organizations are increasing the centrally and distantly managed IT and networking automation.

Global Network Automation Market: Regional Overview

The global network automation market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

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Presence of Leading Vendors and Increased Investment in Infrastructure to Drive the North American Market

The growing reliance of the populace on the network as a result of their higher quality of living is expected to drive the growth of the North American region over the forecast period. The United Nations Conference on Trade and Development claims that North America has digital platforms that collect a lot of data from user bases around the world. The country has been vying for AI supremacy on a worldwide scale and is projected to contribute USD 3.7 trillion to the world economy by the year 2030. Additionally, the major corporations, increased investment by providers of network automation solutions, and technology adoption drive the market in the region. For instance, Cisco Systems, the leading vendor, held a roughly 55% share of the global ethernet switch market. Additionally, in terms of global comparison, the U.S. produces the most revenue USD 14 million, with an annual growth rate of about 4% in 2022. The enterprise network infrastructure segment is expected to have average spending per employee of USD 83 in 2022.

Significant Expenditures in Network Infrastructures to Fuel the Market in the Asia Pacific Region.

On account of significant investments made by businesses in legacy hardware network infrastructure and their reluctance to quickly switch to virtual network models, the physical network segment in China accounted for more than 58% of the total revenue in 2021. The Enterprise Network Infrastructure segments revenue is anticipated to reach about USD 14 billion in 2022 with a compound annual growth rate of nearly 5%. Additionally, the segments average spending per employee is anticipated to reach USD 17 in 2022 in China. The increased investment in network infrastructure to support the business in the region.

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The study further incorporates Y-O-Y growth, demand & supply and forecasts future opportunities in:

North America (U.S., Canada)

Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific)

Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Global Network Automation Market, Segmentation by Enterprise

The large enterprises segment is anticipated to hold substantial market share over the forecast period. There were around 0.67 million large enterprises with almost 252 or more employees predicted to exist globally in 2019, up from over 0.6735 million in 2018. Additionally, there were an estimated 215 million enterprises operating globally in 2019. The physical network configuration enables businesses to deploy physical network hardware inside their establishments to carry out essential operational tasks.

Furthermore, the total data generated daily across all industries amounts to over 2 quintillion bytes. By 2023, the value of this data is predicted to be over USD 78 billion. The demand for network automation is growing as there are higher number of large enterprises and more data produced worldwide that are necessary for the efficient operation of these industries.

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Global Network Automation Market, Segmentation by End User

Healthcare

Telecom & IT

Energy and Utilities

Manufacturing

Others

The telecom & IT segment is predicted to hold the biggest share over the forecast period. The worldwide IT & telecom industry in 2021 was calculated to be around USD 1,900 billion in 2021; up from USD 1,700 billion in 2018.

Telecom service providers were able to incorporate more virtualization in their networks as a result of the growing adoption of Network Function Virtualization (NFV) technologies. A rise in the IT & Telecom business has occurred as a result of several government initiatives for digitalization in order to meet end-user demand. Additionally, the development of 5G technology is expected to bring about improved networking options. By 2027, it is expected to be more than 4 billion 5G mobile subscriptions worldwide, with North East Asia, South East Asia, India, Nepal, and Bhutan having the greatest number of subscriptions per area.

Global Network Automation Market, Segmentation by Deployment

Few of the well-known market leaders in the global network automation market that are profiled by Kenneth Research are Micro Focus International plc, Cisco Systems, Inc., IBM Corporation, Telefonaktiebolaget LM Ericsson, NetBrain Technologies, Inc., Versa Networks, Inc., BMC Software, Inc., BackBox Software Ltd., HCL Technologies Ltd, Forward Networks, Inc, and others.

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Recent Developments in Global Network Automation Market:

In 10, March 2022, Cisco Systems, Inc and NEC Corporation jointly announced a partnership for Telefonica Vivos upcoming 5G IP transport network rollout across Brazil.

In 28 June 2021, IBM Corporation unveiled new hybrid cloud AI powdered automation tools to facilitate the rollout of 5G networks. Through enhanced networking and the provision of innovative services, this software will aid communication service providers.

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Global Network Automation Market Garnered around USD 15 Billion in 2021 and to Grow with a CAGR of ~22% during 2022-2031; Market to Grow on Account of...