Network Automation Market - Development Status and Opportunity Analysis to 2028
Category: #technology  By Ronak Bora  Date: 2022-06-23
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Network Automation Market - Development Status and Opportunity Analysis to 2028

The managed segment in network automation market is expected to witness staggering expansion, progressing at a CAGR of approximately 40% over the forecast timeframe. This is due to the increasing number of SMEs offering innovative solutions at affordable prices.

The data center networks sub-segment in network automation market is foreseen to reach a significant valuation by 2028, registering a CAGR of more than 35% through the review timeframe. This growth is attributed to the prevalent adoption of centralized network provisioning and integrated enterprise management.

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The COVID-19 pandemic has significantly impacted the network automation market landscape with the advent of completely automated remote offices, increasing emphasis on cloud strategies, and the necessity to develop new communications software tools. This has led to an influx of investment from network automation solution vendors, which has accelerated market growth in recent years.

The network automation market from the energy & utilities sub-segment is anticipated to grow at a 30% CAGR over the stipulated period on account of mounting demand for digitalization and adoption of the smart grid technology.

The network automation market is speculated to exhibit robust progress by 2028 owing to widespread adoption of cloud-based services across key regions.

The network automation market has been segmented based on application, component, deployment model, type, network infrastructure, and region.

In 2021, the healthcare sub-segment held a market share of nearly 10% with projections anticipating it to showcase a solid growth trajectory through 2022-2028. Increasing adoption of the Internet of Medical Things (IoMT) is slated to bolster segmental expansion.

The retail sub-segment in network automation market is slated to expand at a CAGR of around 30% over the study timeline. Network automation allows retailers to optimize their business processes and decision-making, which is likely to support market development in next few years.

The LATAM network automation market is poised to gain notable traction, developing at a CAGR of more than 30% through the assessment period. Proliferation of data center networks across the region is expected to foster market expansion.

The MEA network automation market is set to amass considerable gains by 2028, expanding at over 30% CAGR through the estimated period. Favorable government policies promoting automation in the region are likely to propel industry uptake over the forthcoming years.

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The professional segment accounted for a substantial market share of around 70% in 2021 and is slated to grow at a sturdy pace through the analysis period. Professional services enable enterprises to invest their critical resources in their core areas that directly generate revenue, which is set to boost segmental growth over the assessment timeline.

With respect to the type, the network automation market has been categorized into wireless networks, local area network, cloud networks, wide area network, and data center networks. The wide area network (WAN) sub-segment is speculated to grow at a 20% CAGR through the estimated period. WAN provides the most extensive geographical coverage to deploy the latest technologies in existing networks, which is likely to fuel product adoption.

Related News:

Telecom Service Assurance Market: https://www.marketwatch.com/press-release/telecom-service-assurance-market-by-development-status-and-demand-outlook-with-top-players-to-2028-2022-06-23

DevOps Market: https://www.marketwatch.com/press-release/devops-market-by-key-trends-growth-opportunities-and-top-companies-to-2028-2022-06-23

Smart Card Market: https://www.marketwatch.com/press-release/smart-card-market-by-trends-technology-and-development-scenario-to-2028-2022-06-23

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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