Self-Healing Networks Market Worth $2.4 Billion By 2027- Exclusive Report by MarketsandMarkets™
CHICAGO, Jan. 17, 2023 /PRNewswire/ -- The Global Self-Healing Networks Market size to grow from USD 0.6 billion in 2022 to USD 2.4 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 33.3% during the forecast period, according to a new report by MarketsandMarkets™. The Self-Healing Networks Market is expected to grow at a significant rate during the forecast period, owing to several business drivers. Some factors driving the growth of the Self-Healing Networks Market are the rising need to control and manage network traffic, increasing adoption of automation technologies such as AI and ML integrated with self-healing, and surge in human error rates in manual systems causing network downtime.
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Managed Services to witness the higher CAGR during the forecast period
The self-healing networks services comprises of managed and professional services. Services plays a vital in effective implementation of self-healing networks solutions and services that can be operated by third-party companies so that firms can focus more on their primary businesses. Managed services comprises of set of services to monitor and maintain computer systems, network infrastructure, and software tools. Managed service providers offer users to manage self-healing network solutions to enable the components to make required modifications without any intervention of the security teams.
Physical network type segment to register for largest market size during the forecast period
The components of network infrastructure are highly complex and varied with the presence of a number of critical physical and virtual edge devices, such as switches, routers, and firewalls, from various network hardware vendors. Self-healing networks can be provided in three ways: physical, virtual, and hybrid networks. The physical network segment is based on the requirement and need to enable the setup and configuration, patching, rollout and rollback, and resource use of the physical network infrastructure. The self-healing network solutions capture data and dependency information into snapshots that enable network administrators to establish configuration baselines and gold standards for continuous change tracking and detect configuration drifts in multivendor network devices.
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SMEs to register for the higher growth rate during the forecast period
Based on organization size, the network automation market has been segmented into SMEs and large enterprises. Organization size refers t the size of an organization in terms of the number of employees. For any large or small organization, access, optimization, and availability are of extreme significance for the management of the network. SMEs to grow at the rapid pace during the forecast period owing to the rising usage of cloud technology has driven the adoption of the self-healing technology among SMEs. Owing to budget constraints, SMEs generally prefer the cloud-based solutions available in the market.
Asia Pacific to witness the highest CAGR during the forecast period
Asia Pacific is among the digital hubs of the world. Thus, businesses in the region have quickly identified the benefits of cloud technology as a facilitator of digital transformation. The region has great scope for growth in the Self-Healing Networks Market. It is focused on innovating and developing self-healing networks solutions across various verticals, such as telecom, IT and ITES, and BFSI. Japan, China, and India use self-healing networks solutions across different sectors to reduce downtime. Asia Pacific to witness an increase in the number of connected devices, which is fuelling the need for automated configuration management solutions. This, in turn, is increasing the adoption of reliable network self-healing solutions by businesses across the region.
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Some major players in the Self-Healing Networks Market include Fortra (US), VMWare (US), IBM (US), CommScope (US), SolarWinds (US), ManageEngine (US), BMC Software (US), Elisa Polystar (Sweden), HPE (US), Cisco (US), Ivanti (US), Easyvista (France), Huawei (China), ACT (India), Ericsson (Sweden), Nokia (US), Anuta Networks (US), Juniper (US), Bluecat (Canada), Park Place Technologies (US), Appnomic (India), Versa Networks (US), Parallel Wireless (US), Itential (US), Kentik (US), Domotz (US), and Beegol (Brazil).
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