Network Management Systems Market by Component, Enterprise Size, Deployment Mode, Business Function (Accounting & Legal, Sales & Marketing, and Procurement & Supply Chain) Vertical and Region - Global Forecast to 2027
The network management system market size to grow from USD 9.3 billion in 2022 to USD 14.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period. Various factors such as increasing investment in hybrid IT infrastructure for analyzing and managing network traffic, emergence of SDN across enterprises, and the need for network management solutions across SMEs are expected to drive the adoption of network management system.
Network management tools help network administrators manage their overall network infrastructure. A network management platform is a central console for network administrators to monitor, analyze, notify, and detect faults in the entire network infrastructure. This platform helps network administrators examine and optimize network infrastructure and capacity planning and identify and detect network security threats. Furthermore, it simplifies the network management process by complying with stringent government regulations. The functional areas of the NMS market include network mapping, network discovery, configuration management, performance management, network visibility, and fault management. For geographically distributed networks, NMS solution providers need to drill down the underline network management problems and develop the ability to meet the changing network infrastructure needs of enterprises.
Industries across the globe are rapidly deploying NMS solutions to deliver value to network operations, thereby gaining in-depth network visibility into its network security. The major market players such as SolarWinds, Juniper Networks, NETSCOUT, Nokia, Riverbed, ManageEngine, ExtraHop, IBM, IPswitch, and Huawei, have adopted numerous growth strategies, which include acquisitions, new product launches, product enhancements, and business expansions, to enhance their market shares.
The network performance & monitoring solution to register for the largest market size during the forecast period
Based on solutions, the network management system market is segmented into network performance & monitoring, cloud monitoring, virtual monitoring, SDN monitoring, network configuration, log & event management, and other solutions. The market size of the network performance & monitoring segment is estimated to be the largest during the forecast period. Network performance and monitoring solutions offer a range of features, such as network performance, network traffic monitoring, bandwidth monitoring, network troubleshooting, health monitoring, network discovery, network mapping, network capacity planning, fault management, Class-Based Quality of Service (CBQoS), Network-Based Application Recognition (NBAR), NBRA2, alarms, real-time monitoring, traffic shaping, flow analysis, network visualization, intelligent alerting, in-depth network performance, and intelligent mapping. These tools help network administrators effectively optimize network resources by managing, detecting, and monitoring the performance of network devices.
The training, support, and maintenance services to account for the highest CAGR during the forecast period
Based on services, the network management system market is segmented into consulting services, network integration and deployment services, and training, support, and maintenance services. The training, support, and maintenance services segment is expected grow at a higher CAGR during the forecast period. Training, support, and maintenance services keep the network running and operating efficiently. Training services and support standards help take full advantage of the solutions providers' capabilities. Support services help with software support, which can be offered from remote spots using web conferencing, phones, onsite help, and ticketing frameworks. Maintenance services assist service providers and verticals in keeping their networks functioning at peak performance, controlling the operational costs, and protecting the operators’ valuable equipment and software assets.
Asia Pacific to hold highest CAGR during the forecast period
The Asia Pacific network management system market is expected to grow at the highest CAGR of 11.0% from 2022 to 2027, due to growing industrialization in this region. This market is also expected to account for the significant adoption of network management system. The major economies in Asia Pacific include China, India, Australia, and Japan. The region is witnessing dynamic changes in adopting new technologies and advancements in organizations across industries. 5G network would play an integral role in advanced technologies, such as IoT and M2M communication, and smart cities and industrial automation sectors.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the network management system market.
By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Managers: 40%
By Region: APAC: 25%, Europe: 30%, North America: 30%, MEA: 10%, Latin America: 5%
The report includes the study of key players offering network management system. It profiles major vendors in the network management system market. The major players in the network management system market include Cisco (US), IBM (US), Broadcom CA Technologies (US), Micro Focus (UK), Juniper Networks (US), Nokia (Finland), Ericsson (Sweden), ManageEngine, a Division of Zoho Corporation (US), Huawei (China), LiveAction (US), NETSCOUT (US), Progress (Ipswitch) (US), Paessler (Germany), Cubro Network Visibility (Austria), Kentik (US), VIAVI Solutions (US), Kaseya (US), Extreme Networks (US), eG Innovations (US), Colasoft (China), SolarWinds (US), ExtraHop Networks (US), Riverbed (US), Accedian (Canada), BMC Software (US), HelpSystems (US), and AppNeta (US).
The market study covers the network management system market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, mapping type, application, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall network management system market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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