Network Automation Market is Estimated to Witness High Growth Owing to Opportunity in Improving Efficiency and Reducing Errors

Network automation refers to managing and configuring networks with minimal human interaction. Network automation tools help in streamlining complex network operations, reducing errors and improving overall network efficiency. With increasing network complexity due to growing number of devices across multiple locations, network automation has become crucial for organizations to maintain seamless network connectivity and performance. Network automation allows centralized monitoring and management of network infrastructure across different sites, helping save costs of physical onsite network maintenance. The global Network Automation Market is estimated to be valued at US$ 25.54 billion in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity to improve network efficiency by automating repetitive tasks presents a major market opportunity for network automation. Manual network configuration and monitoring requires immense human resources and time. Even small errors during configuration changes can potentially disrupt the entire network. Network automation uses configuration scripts and central management platforms to ensure consistent configurations across all network devices, eliminating human errors. It also allows network teams to focus on more strategic tasks rather than repetitive configurations. By automating tasks like infrastructure deployments, operations and software upgrades, network efficiency is greatly improved as downtime is reduced. As network complexity increases with digital transformation, network automation is poised to witness increased adoption for maintaining high network performance with optimal resources. This presents a lucrative growth opportunity for vendors in the network automation market.

Porter’s Analysis
Threat of new entrants: Medium - The network automation market requires huge capital investment for R&D and product development. This poses a medium threat of new entrants. Bargaining power of buyers: High - As network automation solutions help optimize business processes and reduce costs, buyers have high bargaining power. Bargaining power of suppliers: Medium - Suppliers of networking equipment and platforms have some bargaining power due to differentiated offerings. However, alternative suppliers balance this power. Threat of new substitutes: Low - Network automation provides unique benefits over manual configuration. No potential substitutes currently exist in the market. Competitive rivalry: Intense - The market has numerous global and regional players offering similar solutions. Price wars and competition for market share is intense.

SWOT Analysis
Strengths: Network automation helps optimize operations and reduce human errors. It provides enhanced security, visibility and control over the network infrastructure. Weaknesses: Initial costs associated with deployment and integration of solutions. Lack of skilled workforce for implementation and management of automated networks. Opportunities: Rising demand for network automation from verticals like IT, telecom and cloud. Growth of IoT, mobility and data center applications will open new avenues. Threats: Integration challenges with legacy systems. Cyber security threats can undermine benefits of network automation.

Key Takeaways
The Global Network Automation Market Demand is expected to witness high growth during the forecast period of 2024 to 2031 at a CAGR of 9.4%. The market size is projected to grow from US$ 25.54 Bn in 2024 to US$ 55.32 Bn by 2031.

Regional analysis indicates that North America currently dominates the market and is anticipated to maintain its lead during the forecast period as well. This can be attributed to rapid adoption of evolving technologies across industries. Asia Pacific is expected to grow at fastest pace due to growing digital transformation initiatives in countries like China, India.

Key players operating in the network automation market are Pfizer Inc., AstraZeneca plc, F. Hoffmann-La Roche Ltd., Eli Lilly and Company, Boehringer Ingelheim GMBH, Novartis AG, Bristol-Myers Squibb Company, and Merck & Co., Inc. Some of the strategies adopted by these players include new product launches, partnerships and collaborations to expand their offerings and customer base.

For more details on the report, Read- https://www.pressreleasebulletin.com/network-automation-market-trends-size-and-share-analysis/