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Social Networking Market 2024-2033 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies 

The social networking global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Social Networking Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The social networking market size has grown exponentially in recent years. It will grow from $69.23 billion in 2023 to $86.01 billion in 2024 at a compound annual growth rate (CAGR) of 24.2%. The growth in the historic period can be attributed to the rise of user-generated content, development of social media algorithms, integration of multimedia features, growth of mobile applications, and expansion of broadband internet. The social networking market size is expected to see exponential growth in the next few years. It will grow to $206.51 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The growth in the forecast period can be attributed to increasing smartphone and internet penetration, higher engagement rates on social media platforms, expanding user demographics, evolving content formats, and the growing integration of shopping features within social platforms. Major trends in the forecast period include growth in the use of augmented reality (AR) technology, expansion of virtual reality (VR) platforms, advanced algorithms for tailoring content feeds and advertisements, use of blockchain technology, and development of voice-controlled features.

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The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Market Drivers - The increasing internet penetration is expected to propel the growth of the social networking market going forward. Internet penetration refers to the extent to which internet access is available and utilized among a population or within a specific geographic area. Internet penetration is due to improved infrastructure, decreasing internet access and device costs, and growing digital literacy across the globe. Social networking drives internet penetration by encouraging online engagement and providing platforms that motivate people to connect and interact, increasing internet adoption and usage across diverse regions and demographics. For instance, in February 2024, according to the International Telecommunication Union, a Switzerland-based specialized agency, the number of individuals using the Internet increased from 5.1 billion in 2022 to 5.4 billion in 2023. Therefore, the increasing internet penetration is driving the growth of the social networking market.

Market Trends -  Major companies operating in the social networking market are focused on developing innovative solutions, such as artificial intelligence (AI) tools to create social media posts. AI tools are software applications that utilize artificial intelligence technologies to automate tasks, analyze data, and enhance decision-making processes across various industries and domains. For instance, in March 2023, Hookle, a Finland-based AI-powered social media marketing platform, launched the AI-based social media posting app. The AI-based social media posting app launched by Hookle offers unique features such as automated content generation, optimal posting time suggestions, and performance analytics to enhance user engagement. Additionally, it enables seamless multi-platform management, allowing users to schedule and post content across various social media channels from a single interface.

The social networking market covered in this report is segmented –

1) By Type: Advertising, In-App Purchase, Paid Apps 2) By User Type: Consumer, Enterprise 3) By Store: Apple, Google 4) By Distribution Channel: Desktop Computers, Mobile Devices 5) By Application: Public Sector, Banking, Financial Services And Insurance (BFSI), Telecom And Media, Retail Or Wholesale

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Regional Insights - North America was the largest region in the social networking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the social networking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the social networking market are Google LLC, Ebates Performance Marketing Inc., Meta Platforms Inc., Facebook Inc., Instagram LLC, YouTube LLC, ByteDance Ltd., LinkedIn Corporation, Twitter Inc., Snap Inc., Telegram Messenger Inc., WhatsApp, Pinterest Inc., Reddit Inc., Automattic Inc., Discord Inc., Nextdoor Holdings Inc., Meetup Inc., Myspace LLC, Tumblr Inc., Ello Inc., Caffeine Inc., Quora Inc., Tribe Social, MediaLab.Ai< /b>

Table of Contents 1. Executive Summary 2. Social Networking Market Report Structure 3. Social Networking Market Trends And Strategies 4. Social Networking Market – Macro Economic Scenario 5. Social Networking Market Size And Growth ….. 27. Social Networking Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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Network Automation Market - Global Opportunity Analysis and Industry Forecast (2021-2028)

Meticulous Research® – a leading global market research company published a research report titled “Network Automation Market by Component, Deployment Mode, Industry Size, Networking Type (Physical Networking, Virtual Networking, Hybrid Networking), Industry Vertical (CSPs, Data Centers, and Enterprises)– Global Forecast to 2028.”

According to this latest publication from Meticulous Research®, the global network automation market is expected to grow at a CAGR of 22.8% from 2021 to 2028 to reach $32.4 billion by 2028. This market is majorly driven by the factors such as the increasing demand for smart healthcare systems with intent-based networking technology, the growing need to detect and identify old hardware, compliance and storage issues, and the increasing need for zero-touch provisioning and unified network visibility.

Furthermore, rising demand for connecting data centers, increasing demand to secure and meet compliance standards, and rising need for cloud-based network function virtualization (NFV) platforms by the telecommunication industry are expected to offer significant growth opportunities for players operating in the network automation market. However, the increasing availability of open-source automation tools and the negative impact of COVID-19 on the global economy have impacted the market growth considerably.

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Scope of the Report

Network Automation Market, by Component 

Solutions / Software

Configuration Management Tools

SD-WAN and Network Virtualization Tools

Intent-based Networking Solutions/Platforms

Other Network Automation Tools

Professional Services

Advisory, Analytics & Automation

Deployment & Integration

Training & Supporting

Network Automation Market, by Deployment Mode

On-premise

Cloud-based

Network Automation Market, by Industry Size

Large Enterprises

Small and Mid-Sized Enterprises

Network Automation Market, by Networking Type  

Physical Networking

Virtual Networking

Hybrid Networking

Network Automation Market, by Industry Vertical  

CSPs

Data Centers

Enterprises

IT & Telecommunication

Manufacturing

Government & Public Sector

Retail

BFSI

Healthcare and Life Science

Education

Energy and Utilities

Media & Entertainment

Other Industry

Network Automation Market, by region

North America

U.S.

Canada

Europe

Germany

U.K.

France

Italy

Spain

Netherlands

Rest of Europe

Asia-Pacific

Japan

China

India

South Korea

Thailand

Indonesia

Australia & New Zealand

Rest of Asia-Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

UAE

Israel

Rest of MEA

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The global network automation market study presents historical market data in terms of value and volume (2019 and 2020), estimated current data (2021), and forecasts for 2028. The market is segmented based on component (solutions/software, professional services), deployment mode (on-premise and cloud-based), industry size (large enterprises, small and mid-sized enterprises), networking type (physical networking, virtual networking, hybrid networking), industry vertical (CSPS, data centers, and enterprises). The study also evaluates industry competitors and analyses the market at a country level.

Based on component, the network automation market is segmented into software/solutions and professional services. In 2021, the solutions segment is expected to account for the largest share of the network automation market. The large share of this segment is mainly attributed to the rising investment in R&D activities, increasing and varying connectivity demands by communication service providers, and the presence of well-established network automation solution providers.

Based on deployment mode, the network automation market is segmented into on-premise and cloud-based. In 2021, the on-premise segment is expected to command the largest share of the network automation market due to the acceptance of network automation solutions among large enterprises, rising demand for advanced security and control, and increasing deployment of network automation solutions across on-premise data centers. However, the cloud-based segment is expected to grow at the highest CAGR during the forecast period. The growing sophistication in cloud deployments, increasing use of cloud networks, and superior flexibility offered by cloud deployments are the factors driving the growth of this segment.

Based on industry size, the network automation market is segmented into large-size enterprises and small & mid-sized enterprises. In 2021, the large enterprises segment is expected to command the largest share of the network automation market. The large share is majorly attributed to the rising demand by the largest telecommunication service providers and increasing demand for network automation solutions by large data centers and campus environments. Moreover, the small and mid-sized enterprises segment is expected to grow at the highest CAGR during the forecast period. The need to create an agile, secure, and efficient work environment and growing demand by SMEs such as education, retail, healthcare, manufacturing, government, and manufacturing industries are the factors driving the growth of this segment.

Based on networking type, the network automation market is segmented into physical networking, virtual networking, and hybrid networking. In 2021, the physical networking segment is expected to command the largest share of the network automation market. The large share of this segment is mainly attributed to the rising demand to manage the complexities of modern and dynamic networks and orchestrate services in a physical network and rising demand to monitor networks infrastructure for solving issues across the physical network.

However, the virtual networking segment is expected to record the highest growth over the forecast period. Rising need to reduce manual work of network configuration, growing demand to reduce costs and speed up the delivery of network-based services, increasing emphasis of leading players to deploy virtualized applications and rising demand for faster troubleshooting from fault detection to fault isolation is expected to support the segment’s high growth rate.

Based on industry vertical, the network automation market is segmented into CSPs, data centers, and enterprises. In 2021, the data centers segment is expected to command the largest share of the network automation market. The large share of this segment is mainly attributed to the growing demand to automate routine workflows and processes of data centers, increasing deployments of network automation solutions for data centers, and the growing need to reduce repetitive or mundane tasks, speed up processes, and drive down overhead in data centers.

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However, the enterprises segment is expected to record the fastest growth over the forecast period. The rising demand for network automation solutions that integrates with multiple vendors and environments, rising demand for network automation solutions from enterprises, and increasing deployments of network automation solutions across several enterprises are expected to support the segment’s high growth rate.

Geographically, the North American region is expected to command the largest share of the network automation market in 2021. North America keenly focuses on adopting network automation solutions to enhance its network infrastructure and leverage the benefits of new technologies, such as virtual networking and software-defined networking. Furthermore, several enterprises in the region are adopting network automation solutions to enhance their IT infrastructure and leverage the benefits of automated networking solutions such as enhanced security, reduction in manual working, and increased productivity.

However, Asia-Pacific is expected to grow with the highest growth rate over the forecast period. The region's high growth rate is attributed to growing telecommunication sectors across several developing countries and several smart cities projects undertaken. The introduction of 5G in the region is also expected to help the region to grow significantly.

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Key Players: 

The key players operating in the global network automation market are Cisco Systems, Inc. (U.S.), VMware, Inc. (U.S.), Red Hat, Inc. (U.S.),  IBM Corporation (U.S.), Juniper Networks, Inc. (U.S.), Micro Focus International plc (U.K.), BMC Software, Inc. (U.S.), Fujitsu Group (Japan), AppViewX (U.S.), Telefonaktiebolaget LM Ericsson (Sweden), Forward Networks, Inc. (U.S.), SolarWinds Corporation (U.S.), Apstra (U.S.), NetBrain (U.S.), BlueCat Networks (Canada), Itential (U.S.), NetYCE (Netherlands) Microsoft Corporation (U.S.), Hewlett Packard Enterprise Development LP (U.S.), Dell Technologies, Inc. (U.S.), NVIDIA Corporation (U.S.), Huawei Technologies Co., Ltd. (China), Arista Networks, Inc. (U.S.), Anuta Networks International LLC (U.S.), Nokia Corporation (Finland), Palo Alto Networks, Inc. (U.S.), and Fortinet, Inc. (U.S.).

Key questions answered in the report-

Which are the high-growth market segments in terms of the component, networking type, industry size, deployment mode, industry vertical, and countries?

What is the historical market for network automation across the globe?

What are the market forecasts and estimates from the period of 2021-2028?

What are the major drivers, restraints, and opportunities in the global network automation market?

Who are the major players in the global network automation market, and what market share do they hold?

How is the competitive landscape of the global network automation market?

What are the recent developments in the global network automation market?

What are the different strategies adopted by the major players in the market?

What are the geographic trends and high growth countries?

Who are the local emerging players in the global network automation market, and how do they compete with the other players?

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