Rising demand for high network availability, increasing
reliance of businesses and consumers on efficient and scalable
networks for smooth work operations without failure of the network
system, and surge in cyber threats drive the global self-healing
networks market.
PORTLAND, Ore., March 28, 2023 /PRNewswire/ -- Allied Market
Research published a report, titled, "Self-healing Networks
Market by Component (Solution, Services), by Network Type
(Physical, Virtual, Hybrid), by Enterprise Size (Large Enterprises,
Small and Medium Enterprises), by Deployment Mode (On-Premises,
Cloud), by Application (Network Provisioning, Network Bandwidth
Monitoring, Network Traffic Management, Network Access Control,
Others), by Industry Vertical (IT and Telecom, BFSI, Media and
Entertainment, Healthcare and Life Sciences, Retail and Consumer
Goods, Education, Others): Global Opportunity Analysis and Industry
Forecast, 2021-2031." According to the report, the self-healing
networks industry generated $729.6
million in 2021 and is estimated to reach $13.9 billion by 2031, witnessing a CAGR of 34.6%
from 2022 to 2031.
Drivers, Restraints, and Opportunities
Rising demand for high network availability, increasing reliance
of businesses and consumers on efficient and scalable networks for
smooth work operations without failure of the network system, and
surge in cyber threats drive the global self-healing networks
market. However, implementing self-healing network technology
requires advanced equipment and software, which can be expensive to
purchase and maintain. Moreover, complex and time-consuming
implementation process increase the cost of deployment. These
factors may restrain the market growth to some extent. Moreover, by
analyzing network traffic and identifying suspicious activity,
self-healing networks can help prevent cyber-attacks. This factor
is expected to create lucrative opportunities in the
industry.
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Covid-19 scenario
- The COVID-19 pandemic had a mixed impact on the self-healing
networks market. With the increase in remote work and online
communication, there was a growing need for reliable and resilient
networks. Hence, several organizations invested in self-healing
networks to ensure the uninterrupted operation in their
networks.
- Moreover, the pandemic also highlighted the importance of
reliable and resilient networks, as businesses and individuals
increasingly relied on digital communication and connectivity for
remote work, education, and socializing. This led to an increase in
investment in network infrastructure and self-healing
technologies.
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The IT and telecom segment held the lion's share in
2021
In terms of industry vertical, the IT and telecom segment has
garnered the major share in 2021, generating more than one-fourth
of the global self-healing networks market revenue as these
industries are designed to detect and automatically recover from
faults or failures that may occur within the network. Moreover, the
healthcare and life sciences segment is likely to dominate in terms
of revenue and cite the fastest CAGR of 41.6% from 2022 to 2031.
Self-healing networks services ensure reliable and secure data
transfer between medical devices, electronic health records, and
other healthcare information systems.
The solution segment to maintain its dominance during the
forecast period
Based on component, the solution segment held the highest share
in 2021, holding more than two-thirds of the global self-healing
networks market revenue and is projected to maintain its dominance
by 2031. The solution segment includes the development of more
advanced automated fault detection tools that can detect issues in
the network in real-time, and trigger automated responses to fix
the issues. On the other hand, the services segment would showcase
the fastest CAGR of 37.6% throughout the forecast timeframe. The
services segment provides robust security features that protect
against cyber threats.
The physical segment to rule the roost during the forecast
period
In terms of network type, the physical segment accounted for the
highest share in 2021, holding nearly three-fifths of the global
self-handling networks market revenue and is expected to rule the
market during the forecast period. The growth is attributed to its
ability to make adjustments to prevent or recover from failures and
to monitor the network. Moreover, the virtual segment would portray
the fastest CAGR of 37.7% from 2022 to 2031, as it reduces the
impact of network failures on end-users by isolating and rerouting
traffic, and helps to minimize downtime.
North America held the major
share in 2021
By region, North America
accounted for the highest share in 2021, holding more than
one-third of the global self-healing networks market revenue. The
growth is attributed to the rising technological trends in the IT
& telecom sector in the region. On the other hand, Asia-Pacific is expected to rule the market
during the forecast period and would portray the fastest CAGR of
39.2% from 2022 to 2031. The growth of the market is driven by
ongoing digital and economic transformation of the region.
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Leading Market Players
- Ericsson
- Versa Networks, Inc.
- IBM Corporation
- VMware, Inc.
- Appnomic
- Nokia
- Fortra LLC
- Ivanti
- Cisco Systems, Inc.
- CommScope
The report analyzes these key players in the global self-healing
networks market. These players have adopted various strategies such
as expansion, new product launches, partnerships, and others to
increase their market penetration and strengthen their position in
the industry. The report helps determine the business performance,
operating segments, developments, and product portfolios of every
market player.
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