The market for network management solutions is expected to increase at a CAGR of 9.5% from 2022 to 2032, from an estimated US$ 7 billion in 2022 to US$ 11 billion in 2032. Today’s IT systems are tremendously complex and diverse, and businesses are having difficulty managing, improving, and maintaining their network infrastructure. Networks and distributed network systems are the most crucial components of every organisation.
These vast networks cannot be managed only through human effort. Network management solutions assist network administrators in managing both software and hardware components in a corporate network. The primary goal of a network management solution is to provide an error-free network. In an enterprise network, these solutions identify, configure, monitor, upgrade, and troubleshoot both wired and wireless network devices.
Network fault management, accounting management, configuration management, network performance management, and network security management are some of the functional areas of network management systems. The growing number of mobile and IoT devices connected to enterprise networks is moving the network management solutions market forward.
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Market Drivers and Challenges for Network Management Solutions
The adoption of network management solutions in the industrial and utilities industries is rapidly increasing, propelling the global network management solutions market forward. Furthermore, the rise in network complexity and linked network devices are important drivers driving market expansion.
However, high network management tool prices and client budget limits may have an impact on the profitability of network management solution vendors, limiting the growth of the worldwide network management solutions market over the projection period. Furthermore, a lack of adequate standards for measuring network performance indicators is a major aspect that is predicted to stymie demand for network management systems.
Network Management Solutions Market: Key Players
Some major players operating in the global network management solutions market include Accedian, AppNeta, BMC Software, CA Technologies, Cisco, Colasoft, Cubro Network Visibility, ExtraHop Networks, Extreme Networks, Flowmon Networks, HelpSystems, IBM Corporation, Progress Software Corporation, Juniper Networks, Kaseya, Kentik, LiveAction, ManageEngine, Micro Focus, NETSCOUT, Paessler, Riverbed Technology, SevOne, SolarWinds, and VIAVI Solutions.
Regional Outlook for Network Management Solutions
Among all geographical markets, North America has the biggest market share of the global network management solutions market and is expected to rise steadily during the forecast period. Rapid innovations in IT infrastructure, such as cloud and virtualization, have put tremendous demand on network administrators to operate network infrastructure efficiently. As countries such as China, Japan, and India are significant hubs for networking technology, the Asia Pacific area is projected to see rapid adoption.
The Network Management Solutions Market report covers exhaustive analysis on:
- Network Management Solutions Market Segments
- Historical Actual Market Size, 2014 – 2018
- Network Management Solutions Current and Future Market Size & Forecast, 2019 to 2029
- Supply & Demand Value Chain
- Network Management Solutions Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology Landscape
- Value Chain Analysis
- Network Management Solutions Market Drivers and Restraints
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Network Management Solutions Market: Segmentation
On the Basis of Solution:
- Network Performance and Monitoring
- SDN Monitoring
- Network Configuration Management
- Log and Event Management
- Others
On the Basis of Services:
- Professional Services
- Network Consulting
- Technical Support
- Network Testing
- System Integration
On the Basis of Function:
- Fault Management
- Configuration Management
- Performance Management
- Security Management
On the Basis of Enterprise Size:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
On the Basis of Industry:
- BFSI
- IT and Telecom
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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The post Network Management Solutions Market is set to register a steady CAGR of over 9.5% during the forecast period of 2022-32, projects Future Market Insights, Inc. appeared first on Future Market Insights.
