June 09, 2020
According to the research report titled ‘Network Automation Market Size By Component, By Type, By Network Infrastructure, By Application, By Deployment Type, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global network automation market is predicted to expand substantially through 2026.
Shifting preference towards network automation among businesses and enterprises owing to its benefits such as less prone to errors, minimal downtime, swift operations and improved reliability and network efficiency is driving the market growth. Rising integration of advanced technologies including AI (artificial intelligence) in routine security and networking tasks is further aiding the market expansion.
As per component type, professional services segment is expected to grow with a CAGR of 30.5% during 2020-2026. These services enable businesses to focus their critical resources on core area that directly generate revenues.
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Alternatively, managed services segment accounted for 25.2% revenue share in 2019 and is set to acquire notable returns in the subsequent years. High concentration of SMEs which provide innovative solutions at low costs is fueling the segmental growth.
By type, WAN (Wide Area Network) segment is expected to hold 30.22% market share by the year 2026. WAN can cover large geographical areas, which further helps in deploying advanced technologies into prevailing networks.
On the other hand, data center networks segment is anticipated to showcase a y-o-y growth rate of 29.7% between 2020 and 2026. Shifting focus towards the reliability and efficiency of data center networks coupled with rising adoption of integrated enterprise management solutions and centralized provisioning services are favoring the market outlook.
The report states that network automation market share from healthcare application is predicted to expand with a CAGR of 27.4% through 2026. Increasing utilization of IoMT (Internet of Medical Things) has impelled the demand for efficient network automation solutions.
Parallelly, energy & utility segment recorded 19.7% market share in 2019, primarily due to swift digitalization and widespread adoption of smart grid technologies.
The retail sector is also expected to register 26.1% growth rate during 2020-2026. Network automation helps retailers not only in enhancing business operations but also improve decision making.
Regionally, network automation market in LAMEA (Latin America and Middle East & Africa) is slated to record a 24% growth rate between 2020 and 2026. Favorable regulatory scenario which encourages the use of automation technologies across enterprise networks is facilitating the business outlook in the region.
Wavestone, Veriflow Systems Inc. (VMware Inc.), SolarWinds Worldwide LLC, Riverbed Technology Inc., Red Hat Inc. (IBM Corp.), Puppet Inc., Onapsis Inc., Network to Code LLC, NetBrain Technologies Inc., Micro Focus International Plc., Juniper Networks, Itential LLC, IPsoft Inc., Intraway Corp., Infoblox (Vista Equity Partners), IBM Corp., HelpSystems LLC, HCL Technologies Ltd., Gluware Inc., Fujitsu Ltd., Entuity Inc., Efficient IP, Cumulus Networks Inc., Cisco Systems, BMC Software Inc., BlueCat Networks Inc., Arista Networks Inc., Apstra Inc., Anuta Networks International LLC and 6connect Inc. are the major companies in global network automation market.