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The global network automation market size is expected to showcase significant growth by reaching USD 22.58 billion by 2027. This is attributable to the increasing adoption of automation services by several major IT companies that propel the demand for advanced network automation globally. Fortune Business Insights, published this information in its latest report, titled, “Network Automation Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Network Type (Physical, Virtual, Hybrid), By Deployment (On Premises, Cloud), By Organization Size (Large Enterprises, SMEs), By End User (IT and Telecom, BFSI, Manufacturing, Energy and Utilities, Healthcare, Education, Others), and Regional Forecast, 2020-2027.” The report further observes that the market stood at USD 4.00 billion in 2019 and is likely to exhibit an astonishing CAGR of 24.2% between 2020 and 2027.
Nokia Introduces Cloud-Native Network Automation Software to Improve Operational Efficiency
In February 2020, Nokia, a global leader in 5G, unveiled the advanced Nokia Network Operation Master, the company’s network management portfolio that delivers best-in-class tools for software management, troubleshooting, configuration management, and administration. With the introduction of 5G, the technical complexities will enable the communication service providers (CSPs) to adopt an intelligent management system to deal with rapidly growing numbers of virtual and physical networks, without placing heavy workload on network operation centers. The software from Nokia is an ideal fit and is likely to solve the complexity issues by providing advanced and fast-paced network automation solutions for the enterprises.
Such initiatives by the companies are likely to contribute to the growth of the market in the forthcoming years.
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Increasing Adoption of Automation Services by IT Majors to Augment Growth
The high cost sustained by the companies during a manual network operation proves to be a major challenge for them. For instance, as per a report by Cisco, around 95% of network tasks performed manually lead to an increase in cost by 2 to 3 times that the actual cost of the network. Therefore, to reduce the operational costs significantly, and to scale the network operations to gain an edge over their rivals, the companies are adopting network automation to expedite the business processes. This is expected to contribute to the global network automation market growth in the forthcoming years.
Technological Innovations by Prominent Companies to Scale-up Network Automation Capabilities
The global market is consolidated by the presence of major companies that are striving to maintain a stronghold by focusing on introducing technologically advanced network automation services. These companies are focusing on delivering the solutions to leverage the opportunities provided by the high demand for efficient networking solutions amongst the consumers across the globe.
List of the Companies Profiled in the Global Market:
Further Report Findings:
Table of Segmentation:
Value (USD billion)
Component; Network Type; Deployment; Organization Size; End User and Region
By Network Type
By Organization Size
By End User