SQUAMISH, BC, Nov. 28, 2024 /CNW/ – Carbon management technologies and alternative clean fuel sources will play an important role in the decarbonization and competitiveness of Canada’s economy. Recognizing the urgency of climate action, the Government of Canada is working to strengthen the country’s advantages in these areas.

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced $5 million in funding for Squamish-based Carbon Engineering ULC under the Energy Innovation Program to support the development of new, alternative energy solutions for powering direct air capture (DAC) systems, which pull carbon dioxide (CO2) from the air. The project also aims to explore further electrification of the DAC process, which can address CO2 emissions from anywhere by decoupling the source of the emissions from the point of capture, providing an important tool to support a low-carbon future.

Once successfully developed, these technologies are expected to offer environmental benefits through reducing the DAC facility’s land footprint and further improving the existing resource efficiency of current DAC processes while strengthening Canada’s leadership in carbon management technologies. 

Minister Wilkinson also announced an additional $7.5 million for five projects to accelerate the development of clean technologies that can significantly mitigate emissions from industrial activities in British Columbia, including:

$2.5 million to British Columbia Biocarbon Ltd.$1.8 million to Arca Climate Technologies Inc.$1.5 million to the University of British Columbia$980,500 to Parkland Refining (BC) Ltd.$710,000 to Highbury Energy Inc.

Through the work of the Regional Energy and Resource Tables, a carbon management profile for British Columbia was provided, detailing the province’s carbon management leadership, opportunities and regulatory framework.

Quotes 

“With a thriving research and development sector, British Columbia is well positioned to leverage the expertise of established innovators leading projects that reduce emissions and drive net-zero-focused innovation in Canada. The Government of Canada is committed to working with British Columbia and other provinces and territories to help achieve Canada’s climate objectives.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources 

“British Columbia continues to drive innovations that are cutting emissions and creating meaningful jobs for people. The federal government’s support for projects like Carbon Engineering’s air-capture technology shows our province’s shared commitment to building a greener, more sustainable future for generations to come.”

The Honourable Adrian Dix
Minister of Energy and Climate Solutions

“Canada is a world leader in clean technologies, and British Columbian innovations and companies are the driving force behind it. Canada is advancing Carbon Engineering’s Squamish-developed direct air capture technology as part of our work to seize regional economic opportunities in this fast-growing sector that will continue to create good local jobs, secure long-term prosperity and fight climate change.”

Patrick Weiler
Member of Parliament for West Vancouver–Sunshine Coast–Sea to Sky Country

Quick Facts 

Budget 2021 committed $319 million over seven years into research, development and demonstrations (RD&D) to advance the development and commercial viability of CCUS technologies.  NRCan is delivering on this commitment through the Energy Innovation Program, which advances clean energy technologies that will help Canada meet its climate change targets while supporting the transition to a low-carbon economy. It funds research, development and demonstration projects and other related scientific activities.  The Government of Canada is also prioritizing the implementation of major economic investment tax credits (ITCs), including the CCUS ITC, as part of Canada’s economic plan to reach net-zero. Carbon management technology and systems, and clean fuels/hydrogen have been identified as key areas of economic opportunity under the British Columbia Regional Energy and Resource Table (Regional Table) – Framework for Collaboration on the Path to Net-Zero (Collaboration Framework).The British Columbia Collaboration Framework, released on June 27, 2023, was the first of its kind to emerge from the eleven Regional Tables launched to date. The Regional Tables are joint partnerships between the federal government and individual provincial and territorial governments in collaboration with Indigenous partners — and with input from key stakeholders — to identify and accelerate shared economic priorities for a low-carbon future in the energy and resource sectors.  

Related Products

Backgrounder: Government of Canada Takes Strides to Advance Decarbonization of Heavy Emitting Industries in British Columbia 

Associated Links 

Energy Innovation Program Carbon Management Strategy for Canada Carbon Capture, Utilization and Storage in British ColumbiaCanada–British Columbia Regional Energy and Resource TablesClean Fuel Regulations Clean Fuels Fund Investing in Research, Development and Demonstration Projects in CanadaClean Economy Investment Tax Credits

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The strategic alliance will foster collaboration between industry leaders, promoting sustainable agriculture and enhancing global food security

SYDNEY and BENGALURU, India, Nov. 29, 2024 /PRNewswire/ — UST, a leading digital transformation solutions company, has signed a memorandum of understanding (MoU) with Western Sydney University (WSU), a leading university in Australia, to collaborate on advancing agritech solutions. The partnership aims to leverage WSU’s research capabilities and domain expertise and UST’s cutting-edge technology solutions, to drive sustainable agriculture and enhance global food security.

Through this collaboration, UST and WSU will leverage their combined strengths to conduct focused research, develop innovative agritech solutions for agri industry needs, and nurture the next generation of industry leaders through mentoring programs. Additionally, the partnership will involve knowledge-sharing initiatives, to educate the public and promote sustainable agricultural practices.

“It is truly exciting to partner with WSU, a leading educational institution in Australia. This partnership gives UST access to world-class research, talent and facilities, to enable us to leverage our technology solutions in a meaningful way for the agriculture industry. This partnership underscores our approach of understanding industry-specific challenges and building a partnership ecosystem to solve real issues and deliver a positive impact to our clients and the industries we serve,” said Kumaran C R, Managing Director – ANZ, UST.

“This is an exciting partnership with UST that will help us tackle issues such as food security and agricultural sustainability,” said Distinguished Professor George Williams AO, Vice-Chancellor, Western Sydney University. “We are bringing together our respective research strengths and extensive expert knowledge to collaborate on joint research initiatives, foster new ideas and, most critically, develop innovative and sustainable agrictech solutions that can address these pressing global challenges.”

The MoU was signed at an event held in Bengaluru, India, in the presence of Hilary McGeachy, Australian Consul General, Bengaluru; Kirankumar Doreswamy, Vice President and Center Head, Bengaluru; Jaison Sebastian, Senior Director, Strategic Initiatives; Tinu Cherian Abraham, Director and Head, Global PR & Media Relations, UST; Prof. Deborah Sweeney, Senior Deputy Vice-Chancellor (Research, Enterprise and Global); Dr. Nicolene Murdoch, Pro Vice Chancellor (Global Partnerships and TNE); Dr. Nisha Rakhesh, Head International Strategy and Partnerships; and Dr. Kopal Chaube, PhD, Lead Research Collaborations and Partnerships, South Asia, Western Sydney University.

This comprehensive partnership with a leading academic innovator aligns with UST’s core values and commitment to ‘Transforming Lives’, by contributing to global food security campaigns. By combining the resources and expertise of both UST and WSU, the two organizations are poised to drive transformative change in the agricultural sector.

About UST

Since 1999, UST has worked side by side with the world’s best companies to make a powerful impact through transformation. Powered by technology, inspired by people, and led by our purpose, we partner with our clients from design to operation. Our digital solutions, proprietary platforms, engineering expertise, and innovation ecosystem turn core challenges into impactful, disruptive solutions. With deep industry knowledge and a future-ready mindset, we infuse innovation and agility into our clients’ organizations–delivering measurable value and positive lasting change for them, their customers, and communities around the world. Together, with 30,000+ employees in 30+ countries, we build for boundless impact — touching billions of lives in the process. Visit us at www.UST.com

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NEW YORK, Nov. 28, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global network automation market size is estimated to grow by USD 46.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 21.48% during the forecast period. Increasing demand for network automation in various industries is driving market growth, with a trend towards use of ai with network automation. However, increased risk related to data security and privacy poses a challenge. Key market players include Anuta Networks International LLC, AppViewX Inc., Arista Networks Inc., Backbox Software Ltd., BlueAlly, BlueCat Networks Inc., BMC Software Inc., Cisco Systems Inc., HCL Technologies Ltd., International Business Machines Corp., Itential Inc., Juniper Networks Inc., Kentik Inc., NetBrain Technologies Inc., NetYCE BV, OpenText Corp., Palo Alto Networks Inc., SolarWinds Corp., Versa Networks Inc., and VMware Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

Network automation is a hot trend in IT, with businesses in various sectors, including healthcare, energy and utilities, and telecommunications, increasingly adopting this technology to manage their data center infrastructure. Network virtualization, a key component of network automation, enables the creation of virtual networks, improving efficiency and reducing costs. Artificial intelligence (AI) and machine learning (ML) are transforming network management, enabling predictive analysis and automated response to security threats and performance issues. Networking companies are developing AI-powered configuration management tools to help large enterprises and SMEs manage their switches and routers more effectively. The growing demand for SD WAN, IoT products, and 5G technology is driving the need for more bandwidth networks and advanced networking technologies. Businesses are also looking for solutions to address security concerns in their enterprise networks. The networking solutions market is segmented into cloud and on-premises, with cloud segment expected to grow due to the increasing adoption of cloud services. Standardization and automation are key trends in networking technologies, with open source projects gaining popularity. Entuity Network Management is one such solution that offers network architectures, management tools, and performance and capacity monitoring. CSPs are also investing in network functions virtualization to improve their offerings and meet the demands of digital transformation. 

In today’s business landscape, digital transformation is a key priority for organizations to link structures and boost enterprise revenue streams. Industries such as banking, finance, IT, and manufacturing are investing in real-time solutions and AI technologies to gain a competitive edge. Advanced Business Intelligence (BI) is in high demand as companies seek to centralize their business operations and data. AI offers significant technological advances, including virtual agents and chatbots, targeted advertising, and voice recognition, to name a few. These tools provide valuable insights and automate processes, enabling businesses to make informed decisions and improve efficiency. The adoption of AI also allows for the analysis of large amounts of data, leading to new opportunities for innovation and growth. In summary, AI is a game-changer for businesses looking to streamline operations, enhance customer experiences, and stay ahead of the competition. 

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 Market Challenges

In today’s fast-paced business world, IT departments face numerous challenges in managing complex network infrastructures. Network automation is a key solution, enabling large enterprises and SMEs to streamline operations and reduce costs. However, implementing network automation and network virtualization in data centers requires overcoming hurdles such as integrating with existing IT systems, ensuring security, and managing complex configurations. Networking technologies like switches and routers, SD WAN, and configuration management tools are essential for automation. Businesses in sectors like healthcare, energy and utilities, and telecommunications are increasingly adopting network automation to meet growing bandwidth demands and secure their networks against security threats. Artificial intelligence (AI) and machine learning (ML) are transforming network management, offering predictive analytics and automating repetitive tasks. Edge computing, 5G technology, and open source projects are also driving innovation. However, standardization and automation remain key challenges for networking companies. The network automation market is segmented into solutions and cloud segments, with solutions focusing on performance, capacity, and security concerns. Management and security solutions are in high demand due to increasing internet traffic and lockdown measures driving remote work. Network functions virtualization and digital transformation are also major trends. CSPs are investing in virtualization and automation to enhance network architectures and meet business demands.Cloud-based network automation software streamlines marketing operations by managing content creation and maintenance across multiple platforms. This includes copy, videos, images, and other assets. The convenience and cost-effectiveness of hosting information on the cloud make it accessible to a wider audience. However, security and reliability are crucial concerns for organizations before transferring sensitive data to the cloud. The dependence on cloud computing service providers increases with the adoption of cloud-based network automation software. While the benefits are significant, potential risks such as data leakage must be carefully managed to maintain data security and integrity.

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Segment Overview 

This network automation market report extensively covers market segmentation by

Component 1.1 Solutions1.2 ServicesDeployment 2.1 On-premise2.2 CloudGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Solutions- Network automation market encompasses various ways to automate network components using either command line automation or automation software. Basic automation involves using standard CLI commands and chaining events with bash operators or shell scripts. Alternatively, automation software integrates network tasks into pre-built programs, allowing users to select, schedule, and execute them from a front-end application. For instance, Red Hat Ansible Automation Platform offers playbooks for automating network configuration, security, orchestration, and more, across providers like AWS, Microsoft, and Cisco. Such solutions contribute to the growth of the network automation market through the solutions segment during the forecast period.

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Research Analysis

Network automation is a critical aspect of modern Information Technology (IT), enabling the management and configuration of complex network infrastructure with minimal human intervention. It encompasses network virtualization, which allows the creation and management of virtual networks, and is increasingly being adopted in various sectors, including data centers, healthcare, energy and utilities, and telecommunications. Network automation leverages advanced technologies like Artificial Intelligence (AI) and Machine Learning (ML) to optimize network performance, ensure security, and adapt to changing business demands. The adoption of network automation is driven by the increasing complexity of IT infrastructure, in Internet traffic due to remote work and IoT products, and the need for efficient bandwidth networks. Edge computing and switches and routers also play a crucial role in network automation by enabling decentralized processing and improving network agility.

Market Research Overview

Network automation is a critical aspect of modern Information Technology (IT), enabling the use of artificial intelligence (AI) and machine learning (ML) to manage and optimize network infrastructure. This includes network virtualization in data centers, SD WAN, switches, and routers, as business demands for increased bandwidth, security, and digital transformation continue to grow. The Networking industry is witnessing significant changes with the adoption of AI and ML for network management and security, especially in sectors like healthcare, energy and utilities, and telecommunications. Networking companies are focusing on solutions segment and cloud segment to provide advanced networking technologies, including network functions virtualization, open source projects, and 5G technology. Enterprises of all sizes, from large corporations to Small and Medium Enterprises (SMEs), are adopting network automation to enhance performance, capacity, and standardization. The increasing use of IoT products, edge computing, and the need for secure bandwidth networks have further fueled the demand for networking solutions. Lockdown measures have accelerated the adoption of network automation, as remote work and virtual collaboration have become the new norm. Networking solutions are also addressing security concerns, such as configuration management tools and threat detection, to ensure secure and reliable network operations. Overall, network automation is a key driver for digital transformation, enabling enterprises to optimize their network infrastructure, enhance security, and improve overall network performance.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSolutionsServicesDeploymentOn-premiseCloudGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio