New York, Jan. 17, 2024 (GLOBE NEWSWIRE) -- The market segment dedicated to network performance monitoring offers tools designed for the surveillance, analysis, and enhancement of IT networks. These tools assist organizations in gauging network performance, identifying areas for improvement, and strategically allocating resources to achieve performance objectives. Additionally, network performance monitoring solutions furnish insights to aid organizations in swiftly diagnosing, troubleshooting, and resolving network issues.
In 2022, the Network Performance Monitoring market was appraised at US$ 1,456.1 Million, with a projected expansion to US$ 5,468.9 Million by the conclusion of 2033. The estimated valuation for 2023 is US$ 1,620.6 Million, accompanied by a forecasted Compound Annual Growth Rate (CAGR) of 12.9% from 2023 to 2033.
The surge in demand for network visibility is a key driver fuelling the growth of the network performance monitoring (NPM) market. Organizations are progressively recognizing the imperative for enhanced network visibility to guarantee optimal performance and reliability of their networks.
Furthermore, the imperative for regulatory compliance serves as a catalyst for the expansion of the NPM market. Businesses face an escalating need to comply with diverse regulations such as HIPAA, PCI, and SOX. NPM solutions play a pivotal role in assisting organizations in conforming to these regulations by furnishing comprehensive visibility into their network performance.
Empower Your Strategy with Insights: Request a PDF sample of the latest market report - https://www.persistencemarketresearch.com/samples/17866
Market Scope:
| Report Coverage | Details | |
| Market Revenue 2023 | US$ 1,620.6 Million | |
| Estimated Revenue 2033 | US$ 5,468.9 Million | |
| Growth Rate - CAGR | 12.9% | |
| Forecast Period | 2023 to 2033 | |
| No. of Pages | 393 Pages | |
| Market Segmentation |
| |
| Regions Covered |
| |
| Key Companies Profiled |
| |
Network Monitoring Market Dynamics:
Driving Factors:
The escalating demand for robust network monitoring systems stems from the imperative need to swiftly address downtime issues. Instances of network device failures can result in downtime, productivity losses, and heightened security risks. Hardware malfunctions and errors have the potential to bring the entire infrastructure to a standstill, while elevated CPU or network usage can significantly impede operations. Network monitoring plays a crucial role in promptly identifying and rectifying these problematic areas. By doing so, it minimizes downtime for companies, leading to cost reductions.
Moreover, many network-monitoring solutions go beyond the basic functionality and provide additional value. They automatically incorporate new devices, map network topology, and unveil malicious activities or potential security breaches. Enhancing overall network productivity is a key objective of network monitoring initiatives. While network equipment providers strive to establish fully redundant networks, various constraints such as architectural limitations, lack of physical redundancy, or budgetary constraints often hinder a fully redundant approach.
Given the critical implications of network failures, server downtime, or service and application crashes, businesses face substantial financial and productivity risks. Therefore, the adoption of network monitoring solutions becomes instrumental in improving service quality and cutting costs by proactively addressing issues before they become apparent problems.
Restraint: Proliferation of Free Network Monitoring Tools
Limiting Factor:
While network monitoring offers valuable insights into network traffic, bandwidth, and operational efficiency for companies, the availability of free network monitoring tools poses a challenge. These tools play a crucial role in addressing major challenges such as reducing overall operational costs, identifying optimal routes for interconnecting, and providing accurate insights on the flow of information.
In the past, network-monitoring tools primarily catered to the needs of larger organizations. However, in the present landscape, network-monitoring suites have become more accessible to small and Medium-sized Businesses (SMBs), Non-Governmental Organizations (NGOs), non-profits, and smaller entities in general. Administrators across enterprises of varying sizes actively seek network-monitoring tools that can fortify their online services.
Nevertheless, the market is marked by the presence of numerous free network traffic tools. These tools empower network administrators to monitor and analyse network traffic, enabling efficient operation of the network infrastructure. The widespread availability of such free tools poses a constraint for organizations seeking comprehensive network monitoring solutions.
In a nutshell, the Persistence Market Research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the report at- https://www.persistencemarketresearch.com/market-research/network-performance-monitoring-market.asp
Opportunity: Surge in Internet of Things (IoT) Adoption and the Bring Your Own Device (BYOD) Trend
Expanding Horizons:
The BYOD phenomenon, which stands for Bring Your Own Device, involves the provision and utilization of personal mobile devices and applications by employees for both personal and professional purposes. The acceptance of BYOD within organizations is rapidly increasing, contributing to the widespread adoption of mobile devices. The array of applications, services, and functionalities available on mobile devices results in a substantial amount of data being stored and transferred. This data often includes sensitive information like usernames, credit card numbers, and passwords.
The escalating reliance on mobile devices is prompting organizations to implement robust monitoring and analytics solutions. Additionally, the significant shift to remote work in recent years has led to a massive increase in IoT connections, posing a considerable challenge for network administration teams. As more work devices connect to home networks and personal devices integrate with corporate networks, the monitoring of these networks becomes paramount.
Given the growing prevalence of remote work, businesses are compelled to continually enhance their network monitoring approach by embracing comprehensive monitoring solutions. The confluence of IoT proliferation and the BYOD trend presents an opportune moment for organizations to invest in advanced monitoring and analytics tools to ensure the security and efficiency of their networks.
Challenge: Elevated Expenses Associated with Network Monitoring
Financial Hurdle:
As businesses increasingly shift their operations onto the network, the imperative to enhance networks for increased capacity and new functionalities becomes apparent. Beyond traditional IT applications, networks are now tasked with handling diverse business services such as telephony and video conferencing, necessitating enhanced network bandwidth. The integration of multimedia applications demands the incorporation of multicasting protocols, while the introduction of auto configuration protocols is required for new endpoint devices. Adding new services to shared network infrastructure further mandates the introduction of IP virtualization features.
In the pursuit of cost reduction, companies face a critical dilemma. Sacrificing proper network management to cut costs is not a viable option, as it is indispensable for business success. The potential costs incurred from downtime, data leaks, and other issues far exceed the expenses associated with upgrading and maintaining the network. Limited budgets often pose challenges in maintaining network security, and the intricate nature of contemporary networks leads many businesses to allocate substantial time and resources to network monitoring. This allocation, however, comes at the expense of dedicating fewer resources to their core business activities.
Top 3 key trends for the Network Performance Monitoring Market:
1. AI/ML-driven Monitoring: This is not just a trend, it is a complete transformation. AI and ML are automating tasks, predicting and preventing issues, and providing actionable insights in real-time. This shift reduces reliance on manual work and enables proactive network management, making it the most significant game-changer in the market.
2. End-to-End Visibility and User Experience: Forget just checking infrastructure metrics. The focus is now on user experience (UX) across applications, identifying bottlenecks, and optimizing network delivery. This means monitoring the entire journey from user action to server response, ensuring seamless experiences and optimizing business outcomes.
3. Cloud and SaaS Embrace: Convenience and cost-effectiveness are driving the shift towards cloud-based and SaaS solutions. They offer easy deployment, scaling, and management, making them ideal for modern, dynamic networks. This trend eliminates the need for heavy on premise infrastructure and simplifies monitoring for businesses of all sizes.
These top three trends represent the biggest shifts influencing the market and shaping the future of network performance monitoring. They emphasize automation, user-centricity, and accessibility, and will continue to drive innovation and market growth in the coming years.
Competitive Landscape
In response to the anticipated surge in demand for network performance monitoring during the forecast period, market players are providing an array of solutions, ranging from fundamental network monitoring tools to advanced analytics and reporting features. Notable companies in this market include Solar Winds Worldwide, LLC, Cisco Systems, Inc., Juniper Networks, Microsoft Corporation, Paessler AG, Nagios Enterprises, LLC, and Manage Engine.
Key Players:
The report highlights key players in the network performance monitoring market, anticipating lucrative growth opportunities in response to the increasing demand for filter products globally. The listed companies include:
- Cisco Systems, Inc.
- Juniper Networks, Inc.
- Keysight Technologies, Inc.
- LogicMonitor Inc.
- Microsoft Corporation
- Nagios Enterprises, LLC
- Niagara Networks
- Paessler AG
- Profitap HQ B.V.
- SolarWinds Worldwide, LLC
The report further provides in-depth profiles of these companies, featuring SWOT analyses and market strategies. It focuses on leading industry players, offering insights into company profiles, components, services, financial information for the past three years, and key developments over the last five years. The dedicated research and analysis team at The Insight Partners, comprising experienced professionals with advanced statistical expertise, ensures a thorough examination of the market with various customization options available in the existing study.
SEGMENTATION:
Offerings Analysis: Increasing Software Demand for Resolving Remote Networking Issues Drives Market Growth
The market is categorized into hardware, software, and services based on offerings. There is a notable rise in the adoption of network performance monitoring software for addressing remote networking issues. The utilization of such software proves instrumental in reducing network problems and effectively gauging network bandwidth. Consequently, the software segment secures the predominant market share throughout the forecast period.
Moreover, the gradual increase in prices of hardware devices and tools is anticipated to affect their usage for security surveillance and IT infrastructure development, contributing to a shift in market dynamics.
Enterprise Type Analysis: Rising Adoption of Networking Tools in SMEs Fuels Market Growth
The market is segmented by enterprise type into small & medium enterprises (SMEs) and large enterprises. The growing demand for network security and performance monitoring in small and medium-sized companies propels the adoption of corresponding tools and solutions. These tools play a vital role in troubleshooting network issues across the IT infrastructure of SMEs, leading to substantial growth in the SME segment throughout the forecast period.
Conversely, the adoption of networking solutions in large enterprises lags behind that of small and medium enterprises.
Industry Analysis: Telecommunication Industry Dominates Market Share
The market is segmented by industry into the telecommunication industry, government & defences, cloud service providers, and others. Among these, the telecommunication industry holds the largest market share due to its intricate IT infrastructure and the imperative need for network security services amid the escalating cyber threats. This key factor positions the telecommunication industry to maintain its dominance in the network monitoring market throughout the forecast period.
REGIONAL INSIGHTS:
The global market is geographically divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. North America dominates the market with the largest share, fuelled by the presence of numerous solution providers and substantial investments in advanced IT infrastructure across the U.S., Canada, and Mexico. Asia Pacific is poised for the highest Compound Annual Growth Rate (CAGR), driven by the widespread adoption of smartphones and advanced network-connected devices in countries like India, China, and Japan. Europe is expected to undergo significant growth, supported by a diverse telecom landscape, increased investments, and innovation, particularly in Augmented Reality (AR) applications leveraging 5G technology. In the Middle East & Africa, along with South America, the rising number of data centers fuels the demand for network monitoring facilities, contributing to market growth in these regions.
KEY INDUSTRY DEVELOPMENTS:
In June 2023, Spirent Communications plc. A leading provider of next-generation network devices introduced a cutting-edge over-the-air (OTA) performance monitoring solution. This solution is designed to cater to enterprises adapting to remote work cultures, delivering essential network edge services.
Tech Mahindra made waves in February 2023 with the introduction of SANDSTORM, a real-time monitoring service and smart device assurance solution tailored for telecom operators and companies. SANDSTORM integrates seamlessly with an array of devices, including VR headsets, smartphones, smart TVs, tablets, and connected cars, enabling the remote examination of customer experiences.
May 2022 witnessed a strategic partnership between Kristile and Paessler, bringing the Paessler Router Traffic Grapher (PRTG) network monitoring solution to SMEs and start-ups in East Africa. This collaboration empowers businesses to monitor their IT infrastructure effectively and receive real-time notifications.
In December 2021, Broadcom Inc. bolstered its portfolio by acquiring APPNeta Inc., a SaaS-based network performance monitoring solution. This acquisition enhances Broadcom's capabilities, providing end-to-end visibility for network performance monitoring solutions and services, particularly across the internet and for monitoring complex business-critical cloud applications.
July 2023 marked a significant development as Connect Wise, Inc. unveiled new network management capabilities based on the Connect Wise Asia platform. In collaboration with Auvik, this solution aims to seamlessly deliver network visibility and real-time monitoring alerts to IT solution providers (TSPs) and their customers.
About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies/clients shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.
Contact
Persistence Market Research
Teerth Technospace, Unit B-704
Survey Number - 103, Baner
Mumbai Bangalore Highway
Pune 411045 India
Email: sales@persistencemarketresearch.com
Web: https://www.persistencemarketresearch.com
