Selbyville, Delaware,, Jan. 23, 2023 (GLOBE NEWSWIRE) --
The network monitoring market valuation is anticipated to exceed USD 12 billion by 2032, as reported in a research study by Global Market Insights Inc.
The widespread adoption of IoT, connected devices, and cloud computing services is accelerating the market demand. Increased network traffic and network outage incidents are pushing businesses to implement resilient network monitoring solutions. Additionally, massive investments by telecom providers in increasing modulation in bandwidth and frequency, as well as the deployment of 5G technologies with robust network resilience, are likely to boost the market demand.
In terms of components, the network monitoring market from the service segment is set to observe around 15% growth rate through 2032, driven by the increasing need to deploy and manage network performance monitoring solutions across enterprises. However, extensive efforts by service providers to deliver in-depth knowledge and instructions to use network monitoring solutions in accordance with business goals and to help improve overall network efficiency throughout the deployment process impact the product adoption.
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The network monitoring market from the professional services segment held over 70% of the network performance monitoring market share in 2022. The advantages of professional service providers' assistance and expertise aid in the integration of network monitoring solutions with enterprise network infrastructure. These services also enable businesses to manage and monitor network operations, ensuring smooth networking processing.
The 100 Gbps network speed segment will witness 20% CAGR between 2023 and 2032. The soaring adoption of SaaS-based services, as well as prominent initiatives by manufacturers to expand their customer base, is prompting cloud enterprises to leverage 100 Gbps network speed. Companies in the market are working together to develop network performance monitoring solutions that analyze 100Gbps network speed, which is slated to push the market growth.
The SMEs enterprises segment is expected to grow at 15% CAGR during the forecast timeline. The growing reliance of SMEs on scalable and cost-efficient networking solutions that can be easily deployed over their network infrastructure is increasing the adoption of network monitoring solutions across SMEs, which is predicted to be a major factor contributing to the network monitoring market revenue.
In terms of application, the energy & utility segment is poised to expand at 10% growth rate till 2032, impelled by the proliferating adoption of smart utilities and IoT devices, which is enabling companies to deploy network monitoring systems in utility settings. Moreover, devices like smart grid meters, drones, IoT sensors, and smart infrastructure are integrated to facilitate real-time monitoring, in-depth insights, and operational efficiency, increasing the need for network monitoring systems.
The Latin America network monitoring market to reach USD 1 billion by 2032, attributed to the increasing use of cloud services by BFSI businesses and the proliferation of IoT technology across several LATAM countries. In order to digitize banking processes and transactions, businesses across the BFSI sector in Mexico and Argentina are implementing cloud-based solutions. Additionally, favorable government initiatives influencing the adoption of digitization are expected to speed up regional business growth.
Some of the leading companies operating in the network monitoring market include Garland Technology, IBM Corporation (SevOne, Inc.), LiveAction, Inc., Viavi Solutions, Inc., IBM Corporation (SevOne, Inc.), Garland Technology, LLC, Riverbed Technology, Inc., Arista Networks, Inc., Juniper Networks, Inc., and SolarWinds Worldwide, LLC.
To cite an instance, In February 2022, Cisco, a global leader in IT and networking, collaborated with Rakuten, a retailing company, to develop and deliver the open RAN solution with the aim to create a fully virtualized cloud-native network. This collaboration also aided the company in delivering technological innovations across multiple industries.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Network monitoring market 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Component trends
2.5 Enterprise size trends
2.6 Network speed trends
2.7 Application trends
Chapter 3 Network Monitoring Market Insights
3.1 Introduction
3.2 COVID-19 impact
3.2.1 North America
3.2.2 Europe
3.2.3 Asia Pacific
3.2.4 Latin America
3.2.5 Middle East & Africa
3.3 Evolution of network monitoring
3.4 Network monitoring industry architecture
3.5 Network monitoring industry ecosystem analysis
3.5.1 Network monitoring software providers
3.5.2 Network monitoring hardware providers
3.5.3 Cloud service providers
3.5.4 Marketing and distribution
3.5.5 End-users
3.5.6 Profit margin analysis
3.5.7 Vendor matrix
3.6 Technology & innovation landscape
3.6.1 Patchwork management
3.6.2 Convergence of NetOps and IT security
3.6.3 Network management system APIs and packet inspection
3.7 Regulatory landscape
3.7.1 Global
3.7.1.1 The ISA/IEC 62443 standard
3.7.2 North America
3.7.2.1 NIST Special Publication 800-53 - Guidelines on Security and Privacy Controls for. Federal Information Systems and Organizations (U.S.)
3.7.2.2 California Online Privacy Protection Act (CalOPPA – U.S.)
3.7.2.3 Critical Infrastructure Protection Mandates, NERC (North America)
3.7.3 Europe
3.7.3.1 General Data Protection Regulation (EU)
3.7.3.2 Network and Information System (NIS) Regulation (UK)
3.7.3.3 The Security of Network and Information Services Directive (EU)
3.7.4 APAC
3.7.4.1 Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)
3.7.4.2 Secure India National Digital Communications Policy 2018 – Draft (India)
3.7.5 Latin America
3.7.5.1 National Directorate of Personal Data Protection (Argentina)
3.7.5.2 The Brazilian General Data Protection Law (LGPD)
3.7.6 MEA
3.7.6.1 Law No. 13 of 2016 on protecting personal data (Qatar)
3.7.6.2 Federal Law No. 2 of 2019 on the use of ICT in Healthcare (UAE)
3.8 Patent analysis
3.9 Investment portfolio
3.10 Key initaitive and news
3.11 Industry impact forces
3.11.1 Growth drivers
3.11.1.1 Growth in the adoption of IoT and BYOD devices
3.11.1.2 Rising popularity of SaaS-based network monitoring solutions
3.11.1.3 Demand for continuous network monitoring due to rise in network complexities and security concerns
3.11.1.4 Increasing network stress due to exponential rise in cloud traffic
3.11.1.5 Surging demand for resilient network monitoring systems to quickly resolve downtime issues
3.11.2 Industry pitfalls & challenges
3.11.2.1 High initial investments
3.11.2.2 Availability of free network monitoring tools
3.11.2.3 Compatibility issues due to prevalence of legacy systems
3.12 Growth potential analysis
3.13 Porter’s analysis
3.13.1 Threat of new entrant
3.13.2 Bargaining power of supplier
3.13.3 Bargaining power of buyer
3.13.4 Threat of substitution
3.14 PESTEL analysis
3.14.1 Political
3.14.2 Economical
3.14.3 Social
3.14.4 Technological
3.14.5 Legal
3.14.6 Environmental
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
