Global Network Management Market

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 News

  • 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.
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FAQs

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).

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 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. '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)'

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.

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.

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.

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Global Network Management Market

Report ID: SQMIG45H2070

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