The Rise of Autonomous Networks Market: $17.5 billion Industry Dominated by Tech Giants - Ericsson, Nokia, NEC Corporation & Cisco Systems | MarketsandMarkets™

Chicago, June 14, 2024 (GLOBE NEWSWIRE) -- The global Autonomous Networks Market size 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, according to a new report by MarketsandMarkets™.

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The autonomous networks market is driven by the need for streamlined operations and enhanced efficiency in network management. It boosts productivity by automating routine tasks, optimizing resource allocation, and minimizing downtime through proactive maintenance and self-healing capabilities. By adopting autonomous networks, organizations can significantly reduce human error, mitigate security risks, and adapt quickly to dynamic network conditions, thereby ensuring uninterrupted service delivery and better user experiences. This market is accelerated by the relentless expansion of digital ecosystems, the production of connected devices, and the ever-increasing complexity of network infrastructures, necessitating intelligent, self-governing solutions to meet evolving demands.

Autonomous Networks Market Dynamics:

Drivers:

Rapid Advancement of Artificial intelligence (AI) and Machine learning (ML) technologies
The deployment of 5G networks
Growing emphasis on network security and reliability, digital transformation across various industries
Need for real-time data processing and analytics

Opportunities:

Edge computing optimization
Network slicing

Restraints:

High initial investment
Lack of standardization

List of Autonomous Networks Companies :

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)

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By offering, the solutions segment is expected to have the largest market size during the forecast period.

The forecasted dominance of the solutions segment in the autonomous networks market from 2024 to 2029 can be attributed to several key factors. Firstly, the rapid advancement and integration of Artificial Intelligence for IT Operations (AIOps) within network infrastructure has significantly enhanced automation capabilities, thereby streamlining operations and reducing downtime. Additionally, the emergence of AI-driven networking solutions enables proactive identification and mitigation of network issues, boosting greater reliability and efficiency. Moreover, the rise of sophisticated network management tools equipped with AI algorithms empowers organizations to optimize network performance and resource allocation in real-time. These collective advancements underline the pivotal role of solutions such as AIOps, AI networking, and network management tools in driving the growth and scalability of autonomous networks, positioning the solutions segment as a leader in the market landscape.

By end user, verticals are expected to hold a higher growth rate during the forecast period.

The projected higher growth rate for verticals in the end user segment of the autonomous networks market during 2024-2029 is driven by various industries within this segment, including healthcare, transportation, and education, that are increasingly adopting autonomous network solutions to enhance operational efficiency and productivity. For instance, in healthcare, autonomous networks can streamline patient care processes and improve resource allocation. Verticals such as transportation and energy are witnessing a surge in demand for autonomous solutions to address complex challenges such as traffic management and energy grid optimization. Additionally, as digital transformation becomes imperative across industries, organizations within verticals such as education and government are expected to invest in autonomous networks to support advanced technologies such as IoT and AI-driven applications. Furthermore, the need for enhanced security and reliability in critical sectors such as government and utilities drive the adoption of autonomous network solutions, further fueling the growth within this segment.

Based on region, North America is expected to hold the largest market share during the forecast period.

North America is in position to lead the autonomous networks market from 2024 to 2029, driven by its mature telecommunications infrastructure that facilitates the swift adoption of cutting-edge technologies like autonomous networks. Additionally, the region's abundance of tech giants and innovative startups concentrates significant research and investment in autonomous systems development. Favourable government policies and regulatory frameworks further incentivize businesses to invest in these technologies. Moreover, North America's strong focus on digital transformation across various sectors, including healthcare, finance, and manufacturing, escalates the demand for autonomous network solutions to boost operational efficiency and customer experiences. The robust collaborations between industry players, academia, and research institutions establish an ecosystem encouraging advancement and implementation of autonomous networks, strengthening North America's leadership in this market segment.

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