USD 9.50 billion
Network Management Market Size, Share, Growth Analysis, By Organization Size(Large Enterprize and Small & Medium-Sized Enterprises), By Industrial Vertical(BFSI, Manufacturing, Retail, Healthcare), By Component(Hardware, Software and Service), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45H2070 |
Region:
Global |
Published Date: May, 2024
Pages:
197
|Tables:
90
|Figures:
73
Network Management Market Insights
Global Network Management Market size was valued at USD 9.50 billion in 2022 poised to grow from USD 10.51 billion in 2023 to USD 23.52 billion by 2031, growing at a CAGR of 10.6% in the forecast period (2024-2031).
The network management systems market is being driven by the expansion of in-depth visibility into network security. For example, IBM Corporation introduced IBM Hybrid Cloud Mesh in May 2023. This SaaS solution is intended to help businesses manage their hybrid multicloud architecture. Furthermore, it is projected that the growing use of network management solutions by enterprises to improve operations and efficiency will fuel the market's expansion in the coming years. Applications, instruments, and procedures used in network infrastructure provisioning, operation, maintenance, administration, and security make up network management. The overall responsibility of network management has made sure that users may access network resources promptly, effectively, and efficiently.
Moreover, throughout the projected period, high-profile investments and a surge in the need for improved security solutions are anticipated to offer profitable potential prospects for market advancement. Furthermore, prosperous growth prospects for the market are expected in the next years due to the growing demand for SD-WAN technology and the increased usage of future technologies like 5G and edge computing. However, it is projected that budgetary constraints, security risks, and the complexity of network infrastructure will impede the growth of the network management industry. Businesses have witnessed a variety of developments in operations, industrial automation, and corporate processes over time. As more companies depend on internet access for cloud and business-critical apps, network management technology has become essential.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Large Enterprize
Fastest Growth
Small & Medium-size
Growth Rate
10.6% CAGR
Global Network Management Market ($ Bn)
Country Share by North America (%)
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Network Management Market Segmental Analysis
The global network management market is segmented based on organization size, industrial vertical, component and region. In terms of organization size, the market is bifurcated into large enterprises and small & medium-sized enterprises. Based on industrial vertical, the market is grouped into BFSI, manufacturing, retail, healthcare, IT & telecom and others. In terms of component, the market is trifurcated into hardware, software and service. Based on region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa. Due to the increasing need for network management solutions in businesses, the organization size category is predicted to continue to dominate in the years to come.
Analysis by Organization Size
As per categorization by organization size, the market is classified as large enterprise and small & medium-sized. Among these, large enterprises earned the largest share and continue to dominate the market. Using their vast resources to develop innovative solutions, large corporate organizations are leading the way in the Global Network Management Market. What makes them powerful is their ability to invest heavily in Research and development, acquire high-technology equipment and control large networks. Furthermore, a good track record and many clients help strengthen their leadership position within the sector.
Diverse factors have contributed to the fast growth rate of small and medium businesses in the global network management market. To begin with, lowered costs and increased accessibility of advanced network management tools for smaller organizations have been made possible by progress in SaaS (Software-as-a-Service) and cloud computing. Small and medium business also want managed network services to shift away responsibility of maintaining and safeguarding their infrastructure. This is due to networks becoming complex as cyber-threats are on the rise.
Analysis by Component
The global network management market is being shaped by innovations in hardware components, such as high-performance switches, routers, and monitoring devices that improve network security and efficiency. Hardware components dominate this market given their essential role in network infrastructure. They deliver solid performance, scalability, dependability–all key to running large-scale networks efficiently. Besides, the constant development of hardware technology allows organizations to keep pace with ever-increasing demands for modern network administration requirements.
It is anticipated that the software and service sector will realize a higher rate of growth in the overall network management market for several significant reasons. One key reason is that such firms have interest in cheaper and more adaptable ways of managing their networks which are being made possible by the increasing popularity of cloud-based and SaaS based solutions offering highly scalable alternatives in this line. Moreover, as result of the increasing network complexities and dynamic cyber security attacks, the need for reliable network performance, monitoring, and security through specialized software tools and managed services. This is setting the stage for quick market expansion.
Global Network Management Market By Organisational Size (%)
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Network Management Market Regional Insights
During the anticipated period, the North American network management market is set to consolidate its lead over the world market. The region's superiority can be ascribed to its well-established IT infrastructure and skillful application of artificial intelligence (AI). Cloud services are becoming more and more popular among North American businesses vs conventional data center construction investments. The benefits of cloud computing, such as its affordability, scalability, and easy access to cutting-edge network management tools, are driving this change. Consequently, the North American market is expanding significantly, driven by the growing utilization of cloud-based solutions, thereby consolidating its dominant position in the worldwide network management industry.
In the anticipated period, the Asia-Pacific network management market is expected to grow rapidly due to several important aspects. First, the need for sophisticated network management solutions is rising throughout the region due to the growing acceptance of cloud-based goods and services and the spread of Internet of Things (IoT) devices. In China this is obvious especially; the market of network management dominates, thanks to strong country's technological base and wide spread of digital technologies. Moreover, it is expected that an Indian market will grow consistently in network management due to efforts in enhancing digital connectivity among other infrastructural developments thus giving impetus to the larger Asia-Pacific industry.
Global Network Management Market By Geography
- Largest
- Fastest
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Network Management Market Dynamics
Drivers
Strong Risk Management
- One of the main drivers driving the network monitoring market is the usage of network monitoring by organisations to comprehend, anticipate, and manage their risks comprehensively. These methods work well for responding quickly and making smart decisions.
Transformation of Digital Network Management
- Market expansion is driven by the digital transformation happening across many sectors. The media and entertainment content creation services are in great demand, the e-government projects are on the rise and growing online retail commerce, as well as the medical data digitization, favourably influence the market.
Restraints
Quick & Undeveloped Innovations in Network Management Technology
- Given the fast growth and innovation of technology, it is always difficult for network monitoring solutions. The rationale is that the monitoring systems must change along with the networks to easily recognize and analyse network data effectively for new encryption techniques, protocols and architectural paradigms adaptation. Requirements for monitoring are more difficult due to the increasing intricacy of contemporary networks, incorporating cloud computing, virtualization and software-defined networking (SDN).
Network Complexity
- When cloud services, internet of things devices, and hybrid environments are integrated together, network designs are complex systems of interrelated networks. Due to the difficulties this complexity causes in data management and analysis, network administrators must use sophisticated technologies that can thoroughly monitor and correlate data from many sources.
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Network Management Market Competitive Landscape
Prominent industry participants made significant investments in R&D to expand their production facilities and create cutting-edge technical solutions that would contribute to the global growth of the network management market. Cisco Systems, Inc. is an IT and communications company that develops, produces, and markets networking products and services based on Internet Protocol. NetScout Systems, Inc. offers software and network monitoring solutions for businesses and mobile networks to service provider and corporate entities.
Top Player’s Company Profiles
- APCON (Switzerland)
- Broadcom (US)
- NETGEAR (US)
- Arista Networks, Inc. (US)
- Keysight Technologies (US)
- Riverbed Technology (US)
- Pico Quantitative Trading LLC (US)
- Zenoss Inc. (US)
- NETSCOUT (US)
- Cisco Systems, Inc. (US)
- CALIENT Technologies (US)
- IBM (US)
- Juniper Networks, Inc. (US)
- SevOne (US)
- Garland Technology (US)
- VIAVI Solutions Inc. (US)
- Gigamon (US)
Recent Developments
- In October 2023, Broadcom Inc. introduced AppNeta and DX NetOps 23.3 versions. It makes the end-to-end visibility possible by closing visibility gaps to Cloud, SaaS, Sites not within the network border. Businesses can enhance connectivity experiences, accelerate their transformation, and optimize network operations using the distinctive unified network management approach the solution employs, which is innovative and leading in the sector.
- In April 2023, Hewlett Packard Enterprise (HPE) has released a new version of its cloud-native network management solution or software which allows customers to purchase rent and monitor network-based assets such as computers printers' switches routers storage area networks (SANs) among others over the internet without having physical possession to do so. Also, a network service package that works like Amazon Web Hosting Service (AWS) giving users control over servers through virtualization at every level without really owning them was presented during the same event by HPE.
- In June 2022, the 7130 Series, a line of integrated systems with extremely low latency and high configuration, was introduced by Arista Networks. This new product line aims to increase customer’s ability to move quickly with reduced intricate nature, cost and power consumption without forfeiting performance by packing many devices into one. Among the 7130 Series, there are two new versions with sophisticated characteristics such as high-performance L1 connectivity and an open programmable environment besides L2/3 switching.
Network Management Key Market Trends
- Navigating the Expansion in Rising Importance of Network Management Solutions: The market for network management is expanding significantly and is predicted to do so even more in the years to come. An organization's dependence on intricate and linked networks is growing, making effective network management solutions essential. To ensure the networks function smoothly, a variety of network administration tasks must be performed such as monitoring, troubleshooting, configuring, and performance optimization.
- Cloud-Centric Solutions is Having Surge in Demand for Network Management: The rising need for network management solutions based in the cloud. In today’s world, organizations must have network management solutions that allow for remote access and operation. Considering their ease of use and ability to expand and be customized as per company requirements, hence making them ideal for any size firm is optional with cloud-based services. Furthermore, centralized visibility and control over dispersed networks are provided by cloud-based network management solutions, facilitating effective monitoring and management.
Network Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, organizations primarily drive the market for network monitoring as they rely on it to fully understand risks so they can prepare ahead of time, deal with them immediately and make informed decisions. Furthermore, the market is driven by the digital transformation taking place in several sectors especially media, e-government, online retail and healthcare digitization. The quick improvements in technology are putting ongoing pressure on network monitoring systems. This is why continuous innovation is necessary to cope with changing encryption methods, protocols, and architectural changes. In environmental communication scenarios, where we have more complicated networks that fuse cloud computing, Internet of Things devices and hybrids there is thus a need for more sophisticated tools by network administrators who want to handle big data.
Big companies like Cisco Systems, Inc. and NetScout Systems, Inc. are spending a lot of money on expanding their production capacities and coming up with creative networking solutions through research and development. This is why the network management market globally has largely changed due to their efforts. The need for efficient solutions covering tasks like monitoring, troubleshooting, and configuration is highlighted by the growing market for network management. On the other hand, the demand for cloud-based network management solutions is rising due to the need for remote accessibility and scalability, providing organizations with centralized control and visibility over dispersed networks for efficient monitoring and management.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.50 billion |
| Market size value in 2031 | USD 23.52 billion |
| Growth Rate | 10.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Network Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Network Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Network Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Network Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Network Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Network Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Network Management Market Report Snapshots
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