Pune, India, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The network monitoring market size was valued at USD 3.04 billion in 2022 and is projected to reach USD 6.97 billion by 2030, exhibiting a CAGR of 11.1% during the forecast period. Fortune Business Insights presents this information in its latest report titled "Global Network Monitoring Market Forecast, 2023-2030."
Network monitoring helps users to analyze, identify, and monitor different aspects of the local and distributed networks, such as network traffic, bandwidth, network servers, and the health and reliability of the computer network. It gives complete visibility of performance monitoring, network components, and other related IT infrastructure.
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Key Industry Development
January 2023 – Auxis and LogicMonitor partnered to bring LogicMonitor’s next-generation solution to the Auxis IT managed service portfolio, ensuring the availability and high performance of the services and systems.
Key Takeaways
- Network monitoring market size in North America was USD 1.29 billion in 2022
- Growing Presence of Multiple Market Players to Boost Market Growth in North America
- Increased Adoption of Remote Work Culture During Pandemic Aided Market Growth
- Rising Demand for Network Security in SMEs to Drive Segment Growth
Discover the Leading Players Featured in the Report:
“Companies leading the global network monitoring market are NETSCOUT SYSTEMS, INC. (U.S.), Paessler AG (Germany), SolarWinds Worldwide, LLC. (U.S.), Nagios Enterprises, LLC. (U.S.), Fortra, LLC (U.S.), Cisco Systems, Inc. (U.S.), LogicMonitor Inc. (U.S.), Riverbed Technology LLC (U.S.), Broadcom Inc. (U.S.), Keysight Technologies, Inc. (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 11.1% |
| 2030 Value Projection | USD 6.97 Billion |
| Base Year | 2022 |
| Network Monitoring Market Size in 2022 | USD 3.04 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Offerings, Enterprise Type, Industry and Geography |
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Drivers & Restraints
Rising Demand for High Bandwidth to Aid Market Growth
The high bandwidth demand by cloud AI applications, largely used in data centers to develop high-storage and complex IT infrastructure to handle large data flow, is further expected to boost the network monitoring market growth during the forecast period. The high network bandwidth monitors the storage devices' health, system performance, and operational capacity.
The high cost of hardware devices costs across the advanced networking monitoring systems will hamper the market growth during the forecast period.
Segmentation
By Offerings
- Hardware
- Software
- Services
By Enterprise Type
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Industry
- Telecommunications Industry
- Government & Defense
- Cloud Service Providers
- Others (Education Organizations etc.)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
Growing Presence of Multiple Market Players to Boost Market Growth in North America
North America is expected to hold the largest part in the network monitoring market share during the forecast period. The growth is attributed to the growing presence of several solutions providers in the region.
Asia Pacific is estimated to have the highest CAGR during the forecast period due to the increasing smartphone usage and advanced network-connected devices across Asian countries, such as China, Japan, and India.
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Competitive Landscape
Growing Key Players’ Focus on Network Monitoring Solutions Development to Drive Market Growth
The increasing focus of key market players on developing network monitoring solutions propels market growth during the forecast period. The new and advanced network monitoring solutions help monitor network devices' continuous and reliable performance across different companies worldwide.
FAQs
How big is the network monitoring market?
The global network monitoring market size was USD 3.04 billion in 2022. It is expected to reach USD 6.97 billion by 2030.
How fast is the network monitoring market growing?
The global network monitoring market will exhibit a CAGR of 11.1% during the forecast period, 2023-2030.
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