USD 13.9 Billion Self-healing Networks Market Reach to by 2031 | Top Players such as – Appnomic, Nokia and VMware
The market is propelled by the need for enhanced security, reduced operational costs and improved customer experience.
PORTLAND, PORTLAND, OR, UNITED STATE, October 3, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The USD 13.9 Billion Self-healing Networks Market Reach to by 2031 | Top Players such as – Appnomic, Nokia and VMware.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global self-healing networks market size was valued at USD 729.6 million in 2021, and is projected to reach USD 13.9 billion by 2031, growing at a CAGR of 34.6% from 2022 to 2031.
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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 processes increase the cost of deployment.
The self-healing networks market is segmented based on component, network type, enterprise size, deployment mode, application, industry vertical, and region. Based on component, it is classified into solution and services. By network type, it is divided into physical, virtual, and hybrid. By enterprise size, it is classified into large enterprises and small & medium enterprises. By deployment mode, it is divided into on-premises and cloud. By application, it is classified into network provisioning, network bandwidth monitoring, network traffic management, and network access control. By industry vertical, it is divided into IT and telecom, BFSI, media and entertainment, healthcare and life sciences, retail & consumer goods, education, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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.
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 are 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.
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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.
The key players operating in the self-healing networks market analysis include Appnomic, Cisco Systems, Inc., CommScope, Ericsson, Fortra LLC, IBM, Ivanti, Nokia, Versa Networks, Inc., and VMware, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the self-healing networks 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 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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