Network Automation Industry: A Complete Business Guide

Network Automation Market size is projected to grow from USD 2.9 billion in 2020 to USD 8.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 24.8% during the forecast period according to report published by MarketsandMarkets. There has been an increasing adoption of advanced technologies such as Artificial Intelligence (AI) and Machine Learning (ML), Software-defined Wide Area Network (SD-WAN), 5G and Wi-Fi 6, and edge computing that help in improving the efficiency of networks and solving network issues (at times, even before they occur). Network automation is an essential step for enterprises to implement a networking solution that grows smarter, responsive, and constantly adopts and protects the network.

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By component, the solutions segment to lead the market during the forecast period

An effective network automation solution must be multi-level, which should allow everything from virtual machines, to management of systems, to network discovery as required by an enterprise. Network automation is an essential step for enterprises to implement a networking solution that grows smarter, responsive, and constantly adopts and protects the network. Network automation consists of solutions including network automation tools and intent-based networking.

By solution, network automation tools segment to lead the market during the forecast period

Network automation tools are the software used for automating the deployment, management, testing, configuration, and operation of physical and virtual devices within the network. Network automation reduces the network operation cost by automating time-consuming manual compliance and configuration tasks. These tools help in enhancing the efficiency of the network operation, as they enable the IT team to deal with errors before they impact the network availability. They also enhance the security compliance of the network (by automating security compliance).

The manufacturing vertical to grow at a higher CAGR during the forecast period

In the manufacturing industry, network automation solutions are being deployed to optimize the networking of devices in manufacturing plants. In this modern era, manufacturers are building smart factories by leveraging technologies such as automation, AI, augmented reality, and IoT. These technologies are enabling the use of efficient network automation solutions, which help network operations teams to integrate siloed networks on manufacturing plant floors (by supporting validated data collection across variable protocols), improve troubleshooting and communication, and enhance network security.

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North America to hold the highest market size during the forecast period

North America is projected to lead the network automation market during the forecast period. In North America, enterprises and service providers are continuously changing their network infrastructure to cope with advanced technologies. North America is home to many technological innovators. Most of the leading market players, such as Cisco, IBM, Juniper Networks, and NetBrain, have their headquarters in this region. These players provide effective network automation solutions worldwide and possess a huge customer base. North America is expected to remain a leader in the market, due to the rising demand for high-speed networks and increasing competition among major players in the networking industry for providing a better customer experience.

Key players operating in the Network Automation Market include Cisco, Juniper Networks, IBM, Micro Focus, NetBrain, Forward Networks, SolarWinds, VMware, BMC Software, Anuta Networks, Apstra, BlueCat, Entuity, Veriflow, Riverbed, Itential, Volta Networks, Sedona Systems, Kentik, SaltStack, NetYCE, Versa Networks, AppViewX, BackBox and 128 Technology. These players have adopted various organic and inorganic strategies to grow in the global network automation market.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Business Process Management: Four Important Advantages

Business Process Management Market size is expected to grow from USD 8.8 billion in 2020 to USD 14.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.5% during the forecast period according to a new report by MarketsandMarkets™. Several factors that are expected to drive the growth of the BPM market include the integration of Artificial Intelligence (AI) and Machin Learning (ML) technologies with the BPM software, need for automated business process to reduce manual error, and improved IT systems to meet customers’ dynamic requirements. Industries such as manufacturing; Banking, Financial Services, and Insurance (BFSI); and telecommunications are expected to have significantly contributed to the growth of the Market.

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Based on component, the services segment to hold the higher CAGR during the forecast period

BPM services have a full scope of usage, ranging from assistance to customers for implementation and integration of BPM software, consulting and training, and support and maintenance, to catering to the specific needs of customers. BPM services help users automate business processes with simple drag-and-drop capabilities. Furthermore, BPM services help enterprises focus on their core competencies rather than implementing and managing the BPM framework.

Based on industry, the manufacturing segment to hold the largest market size during the forecast period

BPM software and services are being rapidly adopted by industries, such as Banking, Financial Services, and Insurance (BFSI); telecommunication; Information Technology (IT); retail and consumer goods; healthcare and life sciences; and others including transportation and logistics, government, and media and entertainment, to optimize their business processes. The manufacturing industry is expected to hold the largest market size during the forecast period as BPM provides a unified integration platform to facilitate collaboration with the raw material providers, supply chain partners, and customers to map the demand and supply of the products.

Based on deployment type, the on-premises segment to hold the higher market share during the forecast period

Based on deployment type, the on-premises segment is expected to dominate the BPM market in 2020. On-premises software are delivered for a one-time license fee, along with service agreement. As the on-premises deployment requires huge infrastructure and a personal data center, only those organizations that can afford its deployment cost usually deploy this model. Therefore, the SMEs often face the dilemma of choosing between cloud and on-premises solutions. The on-premises deployment type offers several advantages, such as system and data control, and dedicated maintenance and support staff.

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Based on region, North America to hold the largest market size during the forecast period

Countries that contribute the most to the BPM market in North America include the US and Canada; the reason for the dominance of these countries is their well-established economies, which enable investments in new technologies. North America being the most developed region, is home to large industries that are capable of investing in reliable and advanced IT infrastructure for automating business processes, thereby opening new opportunities for the adoption of BPM software.

Market Players

Key market players profiled in this report are Pegasystems (US), Appian (US), IBM (US), Oracle (US), Software AG (Germany), Nintex (US), OpenText (Canada), Newgen Software (India), Genpact (US), TIBCO (US), Bizagi (UK), ProcessMaker (US), Creatio (US), AgilePoint (US), BP Logix (US), K2 (US), Bonitasoft (France), Kissflow (India), Kofax (US), and AuraPortal (US).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

 

5G Industrial IOT Industry: A Complete Business Guide

5G Industrial IOT Market size is projected to grow from USD 0.5 billion in 2020 to USD 15.7 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 79.1% during the forecast period according to a new report by MarketsandMarkets™. The major factors driving the growth of the 5G Industrial IOT market include growth in data traffic due to increasing number of IoT devices across manufacturing industries, increasing demand for high reliability and low latency networks in manufacturing industries, growth in number of M2M connections across manufacturing industries, and rising need of preventive maintenance for critical equipment.

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Based on component, the solutions segment to grow at a higher CAGR during the forecast period

With the advanced networking technology, the 5G industrial IoT solutions benefit manufacturing organizations in several ways, such as the ability to view the status of assets at any time, faster service response from dealers, and effectively monitoring, predicting, and controlling process variability. Organizations across the manufacturing vertical are adopting 5G industrial IoT solutions, as these solutions enable them to monitor their assets and increase operational efficiency. Maintenance, repair, and operations of assets are of the utmost importance in any asset-intensive industry. The key objective is to maximize the RoI of the current asset base as well as to reduce the cost. The 5G industrial IoT solution enables organizations to track assets and receive notifications when the maintenance of assets is due. It helps enterprises perform regular maintenance, thereby increasing the productivity of assets.

Based on services, the professional services segment is expected to lead the market during the forecast period

Professional services support businesses of all size and across the manufacturing vertical. Vendors offering professional services assess the expense and design of the solution for streamlining communication and improving the efficiency of the network. Professional services enable enterprises to deliver short-term and long-term savings. They help enterprises create a highly available, secure, and superior network environment that supports enterprise growth while accommodating the convergence of voice and data systems and traffic. The professional services segment involves functions, such as network testing, network planning, network optimization, orchestration, integration and deployment, support and maintenance, and consulting.

Based on organization size, the large enterprises segment is expected to grow at a higher CAGR during the forecast period

Large enterprises are witnessing an increased need to deploy 5G industrial IoT solutions and services to efficiently manage their large number of assets spread across geographies. The adoption of 5G industrial IoT solutions and services in large enterprises is much high as compared to SMEs. The high adoption is due to the affordability and high economies of scale of large enterprises that enable organizations to leverage 5G industrial solutions and services. The market being at the nascent stage, several big firms are launching 5G modules by having partnerships with telecom operators to deploy services at a faster pace.

Based on application, the asset tracking and management segment is expected to lead the market during the forecast period

Asset tracking and management is instrumental in managing physical assets and the performance of equipment on the manufacturing floor. The protection of physical assets, such as plants, machinery, and fleet, is the backbone of manufacturing operations. As a huge number of assets need to be tracked in manufacturing operations, strong and reliable connectivity is required to ensure the efficiency of the process; here, 5G comes into picture. The 5G technology is expected to expand opportunities in manufacturing industries through monitoring, tracking, and automation capabilities on a large scale. The technology will reduce costs, improve efficiency, and provide real-time for performing asset tracking. Asset management and tracking enabled with 5G technologies has the potential to be the next-generation of asset management providing benefits, such as optimization of manufacturing practices, timely prediction for asset maintenance, and improved and enhanced workforce safety.

Based on end user, the discrete industries segment is expected to grow at a higher CAGR during the forecast period

The discrete industries are concerned with the manufacturing and production of distinct units, such as automobiles, furniture, toys, smartphones, and airplanes. The growth of IoT is leading to improvements in discrete industries. In discrete industries, IoT-enabled smart connected products provide a way to increase product functionality and generate additional value for customers. The 5G technology increases the overall bandwidth and allows a massive amount of IoT devices to connect, thus helping discrete manufacturers increase their productivity. 5G industrial IoT solutions are expected to increase the operational efficiency of the discrete manufacturing process by offering higher connectivity among IoT devices.

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APAC to hold the highest market size during the forecast period

APAC, being an emerging economy, is witnessing dynamic changes in the adoption of new technologies and expected to record the highest market size and CAGR during the forecast period. It is a diversified region that includes a wide range of countries moving toward digital transformation. The region is set to dominate 5G, edge computing, blockchain, and 5G core technology, due to its size, diversity, and the strategic lead taken by countries, including Singapore, South Korea, China, Australia, and Japan. APAC is one of the biggest markets for connected devices. Such a huge number of connected devices requires high-speed and low latency networks, such as 5G. China, Australia, Japan, and South Korea are the prime APAC countries that have started several 5G-related activities. Asian telecom service providers, vendors, and government firms are determined to take the lead in 5G R&D. The region is witnessing dynamic changes in the adoption of new technologies and advancements in manufacturing industries.

Major vendors operating in the 5G INDUSTRIAL IOT market include Qualcomm Technologies, Inc. (Qualcomm), Ericsson (Ericsson), Nokia (Nokia), Huawei Technologies Co., Ltd. (Huawei), Cisco Systems (Cisco), AT&T (AT&T), IBM Corporation (IBM), Microsoft Corporation (Microsoft), Siemens AG (Siemens), Verizon (Verizon), Sierra Wireless (Sierra Wireless), Telefónica S.A. (Telefónica), China Mobile Limited (China Mobile), China Unicom (Hong Kong) Limited (China Unicom), Vodafone (Vodafone), Advantech Co., Ltd. (Advantech), ASOCS (ASOCS), T-Mobile USA, INC (T-Mobile), TELUS (TELUS), Honeywell International Inc. (Honeywell), Intel Corporation (Intel), Bosch.IO GmbH (Bosch.IO), Deutsche Telekom AG (Deutsche Telekom), Telit (Telit), Thales Group (Thales), IDEMIA (IDEMIA), KT Corporation (KT), ABB (ABB), and NTT Data Corporation (NTT Data).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

 

How is Digital Audio Workstation Impacting Future Growth Demand?

Digital Audio Workstation Market size is expected to grow from USD 2.0 billion in 2018 to USD 3.1 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.2% during the forecast period according to report published by MarketsandMarkets. The demand for DAW is expected to grow over the next 5 years, owing to several factors, including the increasing adoption of cloud-based audio workstations and growing digitization of instruments. Increasing demand for AI-generated music, growing media & entertainment industry, and increasing adoption of Android-based operating systems are the key growth factors for the market.

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The services segment of the market is anticipated to grow at a higher CAGR as compared to software segment during the forecast period.

Implementation and consulting services subsegment is estimated to grow at a higher as compared to the managed services subsegment during the forecast period. This growth is expected to be driven by the increased demand for digital audio workstations across the media & entertainment and education industries. Services are an essential part of the software deployment and execution lifecycle. Services, including consulting, product support, updates, and maintenance, are required at various stages, starting from pre-sales requirement assessment to post-sales product deployment and execution, thus enabling the client to get better return on investment (RoI).

The professionals/audio engineers and mixers segment is expected to account for the largest market size during the forecast period.

The digital audio workstation market has been segmented based on type into editing, mixing, and recording. Audio engineers set up and test sound equipment before events, broadcasts, and recordings. Digital audio workstations help sound engineers produce music by balancing and adjusting sound sources using equalization and audio effects mixing, reproducing, and strengthening the sounds. Sound engineers are professionals who use digital audio workstations to record, edit, mix, and master music to improve sound quality and add sound effects to recordings. These workstations enable sound engineers to work with video editors and synchronize video with audio tracks.

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APAC market is expected to grow at the highest CAGR during the forecast period.

The digital audio workstation market in Asia Pacific has gained momentum and is expected to grow at the highest rate in this region during the forecast period. Although digital audio workstations have witnessed increased adoption over the past couple of years in the region, various companies in the region are yet to take advantage of the increasing adoption. However, increasing awareness about the real-time audio and video processing, supplemented with competently designed digital audio workstation solutions offered by vendors present in this region, has led Asia Pacific to emerge as a high-potential market. Countries, including China, Japan, India, Singapore, and South Korea, have huge potential for vendors to enhance their market share. The high rate of internet usage and increased adoption of smartphones in the region facilitates companies to adopt advanced solutions and forge strong connections with target audiences. In addition, this region is witnessing an increasing demand for cloud-based digital audio workstation solutions as a result of increasing internet penetration.

Major vendors offering Digital Audio Workstations globally include Apple (US), Adobe (US), Avid (US), Ableton (Germany), Steinberg (Germany), MOTU (US), Acoustica (US), Presonus (US), Magix (Germany), Native Instruments (Germany), Cakewalk (US), Image-Line (Germany), Bitwig (Germany), Renoise (Germany), and Harrison Audio Consoles (US). The study includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441