Autonomous Networks Industry worth $17.5 billion by 2029

(IT-NEWSWIRE.COM, June 19, 2024 ) According to a research report "Autonomous Networks Industry by Offering (Solutions and Services), End User (Service Providers and Verticals (Hospitality, Education, Government, Healthcare, Transportation & Logistics)) and Region - Global Forecast to 2029" published by MarketsandMarkets, the autonomous networks market is expected to reach USD 17.5 billion by 2029 from USD 7.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period.

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The autonomous networks market is undergoing significant transformation due to advancements in AI and ML, the rollout of 5G technology, and the increasing demand for high-speed, reliable internet connectivity. Additionally, the growing need for enhanced network security and the expansion of IoT devices drive the adoption of autonomous network solutions for better performance, efficiency, and resilience. This market is divided into segments based on different aspects, such as the type of offering and end users. Offering ranges from essential solutions such as AI networking, AIOPS, Network Management Tools, and other solutions along with various services such as consulting, system integration, & deployment, support & maintenance. End Users include both service providers and verticals such as hospitality, education, government, healthcare, transportation and logistics, and other verticals. These segments collectively offer a comprehensive overview of the evolving autonomous networks landscape and its potential business implications.

“Based on end users, service providers segment to hold the largest market size during the forecast period.”

Within the autonomous networks market, the service providers segment is estimated to capture the largest market size throughout the forecast period of 2024-2029. Service providers are at the forefront of adopting cutting-edge technologies to enhance their network efficiency and reliability, and autonomous networks offer a compelling solution to meet these evolving needs. The increasing demand for seamless connectivity, driven by the spread of IoT devices and the growing popularity of bandwidth-intensive applications, compels service providers to invest in autonomous network solutions to ensure uninterrupted service delivery. Additionally, the rising complexities in network management and operations necessitate deploying autonomous systems to streamline processes and reduce operational costs. Moreover, regulatory mandates and industry standards emphasizing network optimization and security further incentivize service providers to integrate autonomous capabilities into their infrastructure. Overall, the service providers' segment is set to lead the autonomous networks market as organizations prioritize agility, scalability, and innovation to stay competitive in the digital landscape.

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“Based on offering, the services segment is expected to hold a higher growth rate during the forecast period.”

In the forecast period of 2024-2029, the services segment within the autonomous networks market is anticipated to experience notable growth. As companies increasingly adopt autonomous network solutions, there will be a growing demand for specialized expertise to guide them through the implementation process. Consulting services will be crucial in advising businesses on the most effective strategies to integrate autonomous network technologies into their existing infrastructure. Additionally, as these technologies become more sophisticated, there will be a heightened need for ongoing support and maintenance to ensure optimal performance and reliability. Support & maintenance services will thus be in high demand for timely assistance and troubleshooting. Moreover, the complexity of deploying autonomous network solutions requires expert aid in seamlessly integrating them into diverse IT environments. System Integration & deployment services will, therefore, see increased demand as businesses seek to minimize disruptions and maximize the efficiency of their autonomous network deployments.

“Asia Pacific is expected to hold a higher growth rate during the forecast period.”

The Asia Pacific region is expected to achieve a higher growth rate in the autonomous networks market from 2024 to 2029 due to several compelling factors. The region's rapid technological advancements and extensive adoption of 5G technology provide a strong foundation for autonomous network implementations. Additionally, Asia Pacific is home to some of the world's largest and most densely populated countries, leading to a high demand for efficient and scalable network solutions to support the number of connected devices and users. The presence of major technology companies and innovative startups in countries such as China, Japan, and South Korea further accelerates the development and deployment of autonomous network technologies. Moreover, supportive government policies and significant investments in digital infrastructure across the region enhance the growth prospects of the autonomous networks market. Lastly, the increasing emphasis on smart cities and digital transformation initiatives drives the need for advanced network solutions supporting complex and diverse applications.

Market Players

The major vendors covered in the autonomous networks market are Ericsson (Sweden), Nokia (Finland), NEC Corporation (Japan), Huawei Technologies Co., Ltd (China), Hewlett Packard Enterprise (US), Cisco Systems (US), IBM Corporation (US), Ciena (US), Extreme Networks (US), Arista Networks (US), Broadcom (US), ZTE Corporation (China), Allied Telesis (Japan), Logic Monitor (US), SolarWinds Worldwide(US), BMC Software (US), Drivenets (Israel), Versa Networks (US), Arrcus (US), Intraway (Argentina), Augtera (US), Auvik Networks (Canada), Infovista (France), and Innovile (Turkey). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the autonomous networks market.

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Autonomous Networks Industry worth $17.5 billion by 2029