The increasing trends for hybrid work culture are expected to boost the network automation market during the forecast period.
The Global Network Automation Market was valued at USD 3.2 Bn in 2020 is expected to reach USD 14.9 Bn by 2027, with a growing CAGR of 24.6% during the forecast period.
The increasing adoption of smart connected devices is anticipated to propel the growth of the network automation market over the forecast period. Moreover, the evolution of the Internet of Things (IoT) across various industries and the government support for the development of the automated network is expected to create a lucrative opportunity for the deployment of this solution and services. For instance, Qatar Government launched Connect 2020 ICT policy to develop smart infrastructure for FIFA World Cup 2022.
Technological advancements such as the integration of artificial intelligence and machine learning are expected to drive the growth of the network automation market. For instance, in February 2020, Ericsson has launched two new artificial intelligence (AI) powered offerings in its Network Services portfolio. The two new portfolio additions are Network Intelligence and Omni Network Channel. These portfolios allow artificial intelligence (AI), automation and predictive analytics to address the complex reality faced by communications service providers such as exponential data growth and the continuous introduction of new technologies such as 5G, digital transformation, and scattered information sources and insights.
Based on organization size, the large enterprise's segment is expected to hold the largest market share during the forecast period. The growth in this segment is attributed to the increasing preference for network automation solutions to monitor and manage big and complex network infrastructure. However, the SMEs segment is expected to be the fastest-growing segment during the forecast period owing to the increasing awareness regarding network automation solutions. Moreover, operation and business models are different as compared to traditional business. Thereby, this is in turn, boost the segment growth
The increasing trend of hybrid culture due to the COVID-19 pandemic is one of the influencing factors to adopt network automation by various organizations. Most of the companies run their operation remotely such as from home, restaurants and others. This creates a lucrative opportunity for the vendors to gain the maximum market share in the network automation market. For instance, BlueCat Networks achieves record growth in 2020, the subscription revenue for its cloud-based DNS resolver by more than 40% and doubled annual bookings across all of its cloud and automation portfolios.
Global Network Automation Market by Region Outlook (Revenue, USD Million, 2021-2027)
In terms of geography, North America dominated the network automation market and is expected to hold the largest market share during the forecast period. The growth in the region is attributed to the increasing number of data centres and the rapid shift of SMEs towards digitalization. Moreover, the fast adoption and high spending in 5G network infrastructure are one of the major factors for the growth of the market in the region.
The Global Network Automation Industry Segmentation:
Global Network Automation Market by Component Outlook (Revenue, USD Million, 2021-2027)
Global Network Automation Market by Network Type Outlook (Revenue, USD Million, 2021-2027)
Global Network Automation Market by Deployment Mode Outlook (Revenue, USD Million, 2021-2027)
Global Network Automation Market by Organization Size Outlook (Revenue, USD Million, 2021-2027)
Global Network Automation Market by Industry Vertical Outlook (Revenue, USD Million, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the market are: