Dublin, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The "Network Management System Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Deployment (On-premise, Cloud-based), By Enterprise, By Vertical, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global network management system market size is expected to reach USD 17.67 billion by 2030, growing at a CAGR of 10.1% from 2023 to 2030. Growing adoption of network management system (NMS) by data centers to enhance performance and eliminate downtime risks, coupled with rising demand for high Quality of Services (QoS), is expected to drive the market growth over the forecast period. 
As the global marketplace continues to expand, enterprises are increasingly getting dependent on networking resources to retain their competitiveness. As such, NMS can help in obtaining complete network visibility, monitoring operational performance, ensuring security, preventing unauthorized access, and performing predictive maintenance activities. Network management systems can significantly reduce downtime, which can lead to cost savings and higher productivity, driving its adoption in the market.
Soaring need for secure and agile infrastructure to operate efficiently in a business environment is predicted to stoke the demand for these services and solutions over the forecast period. Vendors of NMS solutions are also expected to witness significant opportunities over the forecast period as Small & Medium Enterprises (SMEs) continue to deploy wired and wireless LAN infrastructure as a part of their efforts to reduce overall infrastructure costs, ensure easy access to data, and adopt cloud-based solutions.
The outbreak of the COVID-19 pandemic played a vital role in driving the adoption of network management systems. The pandemic had a severe impact on industries. It highlighted the current weaknesses of how industries operated and pushed them to make a digital transformation, which was long overdue. This digital transformation resulted in more scattered workplace networks and promoted businesses to invest more in network management systems.
Network Management System Market Report Highlights
- Based on component, the solutions segment dominated the market in 2022 with a revenue share of over 68.0%. Various solutions offered by network management systems include configuration management, performance management, security management, fault management, and account management. These functions ensure the error-free functioning of the network, which optimizes resources, enhances security, reduces downtime, reduces costs, and increases productivity. These features offered by network management systems market solutions are driving the segment's growth
- Based on deployment, the on-premise segment accounted for a maximum revenue share of more than 66.0% in 2022. The segment is anticipated to continue its dominance in the overall market over the forecast period. The high share and growth of this segment can be attributed to the enhanced security provided by on-premise deployment. Moreover, on-premise deployment does not require any third-party involvement, which is driving the segment's growth
- Based on enterprise, the large enterprises segment accounted for the largest revenue share of more than 61.0% in 2022. Large enterprises have a larger network of employees and devices. Many large enterprises also have multiple working locations, which need to be connected through a server. Due to this, large enterprises require a robust network; and a lack of attention to network functioning can lead to significant monetary and productivity losses for companies. Hence, large enterprises are adopting network management systems, thereby propelling the segment's growth
- Based on vertical, the IT & Telecom segment dominated the market in 2022 and accounted for a maximum revenue share of over 25.0%. The segment is expected to register a significant CAGR and dominate the market over the forecast period. IT and Telecom companies are one of the first adopters of advanced technologies. The growing use of broadband services, 5G services, and increasing cybersecurity threats are driving the adoption of network management systems in the IT & Telecom industry
- North America accounted for the largest revenue share of more than 32.0% of the market in 2022. The region's growth can be attributed to the growing investments in IT and network infrastructure, 5G rollouts, and aggressive investments made in building data centers
Market Dynamics
Market Driver Impact Analysis
- Growing demand for streamlining wide networks among enterprises
- Reduced costs, increased efficiency, and reduced downtime offered by the network management systems
- Diminishing costs due to advancing technology
Market Restraint Impact Analysis
- Lack of skilled workforce to operate the software
Market Opportunity Impact Analysis
- Emergence of SDN across enterprises
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $8.25 billion |
| Forecasted Market Value (USD) by 2030 | $17.67 billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3 Network Management Systems Industry Outlook
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
Chapter 4 Network Management Systems Market: Component Estimates & Trend Analysis
4.1. Component Movement Analysis & Market Share, 2022 & 2030
4.2. Network Management Systems Market Estimates & Forecast, By Component
4.2.1. Solutions
4.2.2. Services
Chapter 5 Network Management Systems Market: Deployment Estimates & Trend Analysis
5.1. Deployment Movement Analysis & Market Share, 2022 & 2030
5.2. Network Management Systems Market Estimates & Forecast, By Deployment
5.2.1. On-Premises
5.2.2. Cloud-Based
Chapter 6 Network Management Systems Market: Enterprise Estimates & Trend Analysis
6.1. Enterprise Movement Analysis & Market Share, 2022 & 2030
6.2. Network Management Systems Market Estimates & Forecast, By Enterprise
6.2.1. Large Enterprises
6.2.2. SMEs
Chapter 7 Network Management Systems Market: Vertical Estimates & Trend Analysis
7.1. Vertical Movement Analysis & Market Share, 2022 & 2030
7.2. Network Management Systems Market Estimates & Forecast, By Vertical
Chapter 8 Network Management Systems Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
- SolarWinds
- IBM
- Broadcom
- Riverbed Technologies
- Cisco Systems
- BMC Software
- Nokia
- Juniper Networks
- Oracle
- Paessler
- VIAVI Solutions
- NetScout Systems
- Colasoft
- Huawei Technologies.
- Hewlett Packard Enterprise
- Dell Technologies
For more information about this report visit https://www.researchandmarkets.com/r/y8jb6t
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
