The service segment in network automation market is projected to register a CAGR of more than 30% due to a rise in outsourcing activities of networking companies.
Sellbyville, DE -- (SBWIRE) -- 10/12/2018 -- North America dominates the network automation market due to the presence of large key players in this region. The advancements in recent technologies such as IoT, AI, and SD-WAN are projected to offer an ample number of opportunities to the key players in this market. Canada is projected to witness the highest market growth with a CAGR of more than 22%. The growth in this segment is attributed to a surge in the Foreign Direct Investment (FDI) to boost the manufacturing sector.
Network Automation market is projected to surpass USD 7 billion by 2024. The growth in this market is attributed to an upsurge in the demand for NFV and SDN technologies. Software Defined Networking (SDN) is a network architecture that allows IT organizations to substitute complex networks. It allows an enterprise to centralize the network infrastructure to control the rapid provisioning of network resources.
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An increase in the demand for Network Function Virtualization (NFV) enables the organization to replace the legacy hardware appliances that increase the network uptime by around 40%. The adoption of NFV technologies brings flexibility to the networks, allowing an enterprise to reduce the additional costs incurred in procuring the newly introduced network devices. Several government initiatives for the commercialization of 5G technologies are anticipated to boost the market over the forecast timeline.
The cloud network segment is projected to witness the highest market growth with a CAGR of more than 31% during the forecast period. The growth in this segment is attributed to an increased demand for the adoption of cloud-based services by start-ups and SMEs. An increase in the demand for Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) in private and public sectors has driven the market growth of cloud-based solutions in the market.
The software segment held a major market share of more than 76% in 2017 due to the presence of large organizations using legacy hardware network equipment and their reluctance to migrate and adopt cloud-based services. In this segment, Intent-Based Networking (IBN) is anticipated to observe the highest market growth with a CAGR of more than 29% during the forecast period. Intent-based networking is an extensive form of SDN network architecture that allows the enterprises to substitute the usage of complex networks by a centralized data-center network.
The adoption of IBN systems enables the network administrator to deploy a scalable and flexible network architecture into the existing network infrastructure, reducing the deployment cost by around 60% and increasing the network uptime.
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The virtual network is expected to witness the highest market growth with a CAGR of more than 29% over the forecast timeline. The growth in this segment is attributed to an upsurge in the demand for SDN architecture and the adoption of hyper-scale cloud networking. Further, a rise in the adoption of NFV technologies will have a positive impact on the growth of virtual networks in the market.
The major players in the network automation market are Cisco, Juniper Networks, IBM, Micro Focus International, NetBrain, SolarWinds Worldwide, Riverbed, BMC, Apstra, BlueCat, Entuity, Veriflow, 6Connect, Anuta, Puppet, Gluware, HelpSystems, Wavestone, IPsoft, Fujitsu, Red Hat, Intraway, Arista, Network to Code, Infoblox, Cumulus Networks, Onapsis, EfficientIP, Itential, and HCL.
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