NEW YORK, Oct. 19, 2022 (GLOBE NEWSWIRE) — Kenneth Research has an in-depth market report on the “Global network automation market“ for the forecast period i.e. 2022-2031, which includes the following factors:
- Market growth over the forecast period
- Detailed regional summary
- market segmentation
- growth accelerator
- challenges
- Key market players and their detailed profiling
Global Network Automation Market Size:
The global network automation market collected around US$15.0 billion in 2021 and is set to grow at a CAGR of ~22% during the forecast period. The need for automated enterprise networks, driven by better network architectures and management tools, is driving the expansion of the market. For example, according to the World Bank, small and medium-sized enterprises (SMEs) are the basis of the global economy. SME companies make up about 95% of all businesses worldwide and provide 55% of all jobs. In 2019, nearly 585 million business owners lived around the world. The need for network automation to ensure businesses run efficiently increases as their numbers grow. In addition, a more automated infrastructure uses fewer manual processes, which reduces operational costs. The World Bank estimates that by 2020, 60% of people will be Internet users, up from 7% in 2000. As more and more people rely on the Internet for their daily tasks, the network system has become complex and can only be simplified with the help of automation .
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Global Network Automation Market: Key Insights
- The North American region acquires a significant portion of sales
- Large companies to influence the sales chart
- The telecom and IT segment maintains its prominent position in end-user segmentation
Increasing the number of remote workers and network traffic to fuel market growth
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