Latest News- Network Automation Market: Solutions is expected to lead the Component segment during 2024-2028

The Network Automation Market is being driven by Increasing demand for network automation in various industries

The Network Automation Market is expected to grow at a CAGR of 21.48% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 46613.9 million. In today's business landscape, digital transformation is a key priority for organizations seeking to streamline operations, enhance revenue streams, and gain a competitive edge. Industries such as BFSI, IT, and manufacturing are increasingly investing in real-time solutions, beyond traditional IT infrastructure and analytical tools. The adoption of advanced business intelligence (BI) solutions, fueled by artificial intelligence (AI), is a critical component of this transformation. AI technologies, including virtual agents and chatbots, targeted advertising, suggestive web searches, voice and speech recognition, pattern recognition, machine translation, face recognition, automatic scheduling, and autonomous driving, offer significant advantages by providing a centralized view of business operations and associated data. These advancements enable companies to make informed decisions in real-time, optimize processes, and deliver personalized customer experiences. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Solutions
  • Services
• Deployment
  • On-premise
  • Cloud
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for network automation in various industries
• Rising adoption of social, mobile, analytical, and cloud (SMAC) technologies
• Increased need for improved customer digital experience

However, the market also witnesses some limitations, which are as follows:

• Increased risk related to data security and privacy
• High cost of network automation software
• Lack of awareness regarding network automation

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Market Scope in Network Automation Market Research Report

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Research Analysis Overview

The Network Automation Market encompasses solutions for automating various network functions, including configuration, deployment, troubleshooting, optimization, scalability, resilience, and more. Automation scripting, monitoring tools, management systems, analytics, and lifecycle management are key components. Network change, upgrade, capacity planning, security policies, workflows, and orchestration are also addressed. IT, cloud, data center networks, and service assurance are application areas. Automation dashboards, frameworks, and architecture complete the landscape.

Market Research Overview

The Network Automation Market is a significant segment of the larger IT services industry, encompassing companies specializing in Network Programmability, Intent-Based Networking, Network Virtualization, and Software-Defined Networking (SDN). This market falls under the broader umbrella of the global IT services market, which includes IT consulting and integration, application services, data processing, business process outsourcing, infrastructure services, and Internet services. The Internet Services and Infrastructure Market, in particular, focuses on firms providing services and infrastructure for the Internet sector, including data centers, cloud networking and storage, hosting, IT security, and cloud computing. According to Technavio, the market size is determined by the combined revenue generated by these companies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/