Network Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The Global Network Market was valued at USD 12.15 billion in 2020, and it is expected to reach a value of USD 39.11 billion by 2026, registering a CAGR of 21.85% during 2020-2026. As the COVID-19 outbreak spreads, public and private companies, as well as government entities, are requiring employees to work from home (WFH), putting an unforeseen strain on all manner of networking technologies and causing bandwidth and security concerns. According to the April 2020 Verizon Network Report, overall data volume across its networks increased by 19% compared to pre-COVID levels. While data usage remains elevated, the changes in how people are using the network have stabilized. Verizon stated it expects usage to continue at sustained higher levels in the coming times.
Key HighlightsThe network automation market is slowly turning into a fragmented market. It is expected to witness a robust increase in the near future, strongly driven by the trends of cloud and growing network traffic across various end-user industries. In order to maintain their foothold in the network automation landscape, the competitive strategy has been quite strong from the current market leaders, mainly driven by their acquisitions of various startups and solution vendors in the market. Key players in the market are Cisco System Inc., Juniper Networks Inc., IBM Corporation, etc. Recent developments in the market are -
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