Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Global Network Monitoring Market 2030 by Component, Technology, Bandwidth, Enterprise Size, End-user Industry & Region - Partner & Customer Ecosystem Competitive Index & Regional Footprints" report has been added to ResearchAndMarkets.com's offering.
The Network Monitoring Market size is estimated to grow from USD 2.5 Billion in 2023 at a CAGR of 7.2% during the forecast period from 2023 to 2030.
Network monitoring solutions offer the ability to detect anomalies, optimize network resources, and enhance overall network efficiency, which has led to their widespread adoption across industries. Additionally, the recurring need for network monitoring tools and services, driven by the continuous expansion of digital infrastructure and the proliferation of devices, contributes to the steady revenue generation in this market segment.
This market plays an indispensable role in the overall technology ecosystem. As businesses embrace digital transformation, the reliance on interconnected networks grows, making network monitoring a critical component. Network monitoring ensures that IT teams can proactively identify and resolve issues, minimizing downtime and disruptions. It helps prevent cyberattacks, safeguard sensitive data, and maintain compliance with regulations.
Moreover, network monitoring solutions enable companies to optimize resource allocation and plan for scalability, contributing to operational efficiency. By providing insights into network traffic patterns, performance bottlenecks, and security vulnerabilities, these solutions empower organizations to make informed decisions and ensure seamless digital experiences for their customers. In essence, the Global Network Monitoring Market serves as the guardian of digital operations, fostering innovation and growth while enhancing the overall cybersecurity posture of businesses.
Increasing Complexity of Networks and Growing Demand for Real-time Insights
The increasing complexity of modern networks is a significant driver for the Global Network Monitoring Market. As businesses expand their digital footprint, the network infrastructure becomes more intricate, involving a mix of on-premises, cloud, and hybrid environments. This complexity leads to challenges in managing and maintaining network performance, security, and traffic.
Organizations are now recognizing the critical need for real-time insights into network operations to ensure seamless connectivity, identify and address performance bottlenecks, and swiftly detect security threats. Network monitoring solutions provide advanced analytics and visibility into network behavior, helping IT teams gain actionable insights that aid in optimizing network resources and enhancing overall performance.
Escalating Cybersecurity Concerns and Regulatory Compliance Requirements
The escalating cybersecurity concerns and stringent regulatory compliance requirements are driving the adoption of robust network monitoring solutions. The rise in cyberattacks and data breaches has placed cybersecurity at the forefront of business priorities. Organizations are under constant pressure to protect sensitive data, maintain the privacy of customer information, and adhere to industry-specific regulations.
Network monitoring tools play a crucial role in detecting and mitigating potential security threats, providing real-time alerts for suspicious activities, unauthorized access, and anomalous behavior. By monitoring network traffic patterns and identifying vulnerabilities, these solutions contribute to preventing cyber incidents and ensuring a proactive defense strategy.
Dominating Region and Country
In the Global Network Monitoring Market, North America dominates due to its early adoption of advanced technologies and the presence of several key players. The United States, in particular, holds a significant share owing to its robust IT infrastructure, high internet penetration, and the proliferation of data-intensive applications across various sectors. The European market follows closely, with countries like the United Kingdom, Germany, and France showing substantial demand for network monitoring solutions to maintain data security and meet stringent data protection regulations.
As for upcoming regions, the Asia-Pacific (APAC) market is poised for substantial growth due to the rapid digitization across industries, particularly in countries like China, India, and Japan. The increasing adoption of cloud services, expansion of 5G networks, and the surge in remote work arrangements are driving the need for efficient network monitoring tools.
Additionally, emerging economies in Latin America and the Middle East are expected to witness growth as businesses in these regions prioritize network optimization and security to support their digital transformation journey. These countries offer untapped potential due to their increasing technology investments, rising internet connectivity, and government initiatives promoting digitalization.
Company Profiles
- Cisco Systems, Inc.
- Hewlett Packard Enterprise (HPE)
- IBM Corporation
- Juniper Networks, Inc.
- Netscout Systems, Inc.
- Broadcom Inc.
- Nokia Corporation
- SolarWinds Worldwide, LLC
- VIAVI Solutions Inc.
- Riverbed Technology, Inc.
- AppNeta
- Gigamon
- Paessler AG
- Micro Focus International plc
- ExtraHop Networks
Major Classifications are as follows:
By Component
- Solutions
- Network Monitoring Software
- Network Packet Broker
- Network TAP
- Network Probes
- Others
- Services
- Professional Services
- Managed Services
By Technology
- Ethernet
- Fiber Optic
- Wireless
By Bandwidth
- 1-10 GBPS
- 10-40 GBPS
- 40-100 GBPS
By Enterprise Size
- Small and Medium Enterprises (SMEs)
- Large Enterprises
By End-User Industry
- IT and Telecom
- BFSI (Banking, Financial Services, and Insurance)
- Healthcare
- Government and Defense
- Manufacturing
- Retail
- Others
By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- Middle East
- UAE
- Saudi Arabia
- Israel
- Rest of the Middle East
- Africa
- South Africa
- Rest of the Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/v6kjdt
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