The network monitoring market to surpass $12 billion by 2032, he says
SELBIEVILLE, Delaware, Jan. 23, 2023 (Globe Newswire) —
The network monitoring market valuation is expected to exceed USD 12 billion by 2032, as reported by A Research study conducted by Global Market Insights Inc.
The widespread adoption of the Internet of Things, connected devices and cloud computing services is accelerating market demand. The increasing network traffic and network outages prompt companies to implement flexible network monitoring solutions. In addition, huge investments by telecom service providers in increasing bandwidth and frequency modulation, as well as deploying 5G technologies with strong network resilience, are likely to boost market demand.
In terms of components, the network monitoring market from the service segment is set to observe a growth rate of around 15% through 2032, driven by the growing need to deploy and manage network performance monitoring solutions across organizations. However, the providers’ extensive efforts to provide in-depth knowledge and instructions for using network monitoring solutions in accordance with business objectives and to help improve overall network efficiency throughout the deployment process impacts product adoption.
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The network monitoring market from the professional services segment accounted for more than 70% of the network performance monitoring market share in 2022. The advantages and expertise of professional service providers assist in the integration of network monitoring solutions with the enterprise network infrastructure. These services also enable companies to manage and monitor network operations, ensuring that networks are handled smoothly.
The 100Gbps network speed segment will experience a compound annual growth of 20% between 2023 and 2032. The increasing adoption of SaaS-based services, as well as high-profile initiatives by manufacturers to expand their customer base, has prompted cloud companies to take advantage of network speed 100 Gbps. Companies in the market are working together to develop network performance monitoring solutions that analyze 100Gbps network speed, which is set to drive market growth.
The SME segment is expected to grow at a compound annual growth rate of 15% over the forecast timeline. The increasing reliance of SMEs on scalable and cost-effective network solutions that can be easily deployed across their network infrastructure is increasing the adoption of network monitoring solutions across SMEs, which is expected to be a major contributor to the revenue of the network monitoring market.
In terms of application, the energy and utilities sector is poised to expand at a 10% growth rate through 2032, driven by increasing adoption of smart utilities and IoT devices, which enable companies to deploy network monitoring systems in utility settings. Moreover, devices such as smart network meters, drones, IoT sensors, and smart infrastructure are integrated to facilitate real-time monitoring, insights, and operational efficiency, increasing the need for network monitoring systems.
the Latin America Network Monitoring Market To reach $1 billion by 2032, due to the increasing use of cloud services by BFSI companies and the spread of IoT technology across several Latin American and Caribbean countries. In order to digitize banking operations and transactions, companies across the BFSI sector in Mexico and Argentina are implementing cloud-based solutions. In addition, favorable government initiatives affecting digitization adoption are expected to accelerate regional business growth.
Some of the leading players operating in the network monitoring market include Garland Technology, IBM Corporation (SevOne, Inc.), LiveAction, Inc. and Viavi Solutions, Inc. and IBM Corporation (SevOne, Inc.), Garland Technology, LLC, and Riverbed Technology, Inc. and Arista Networks, Inc. and Juniper Networks, Inc. and SolarWinds Worldwide, LLC.
To cite an example, in February 2022, Cisco, a leading global IT and networking company, collaborated with Rakuten, a retail company, to develop and deliver an open RAN solution with the goal of creating a fully virtualized cloud-native network. This collaboration has also helped the company deliver technological innovations across multiple industries.
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Partial chapters from the TOC:
Chapter 2 Executive Summary
2.1 360º Network Monitor Market Summary, 2018 – 2032
2.2 Business Trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Ingredients Directions
2.5 Enterprise size trends
2.6 Network Speed Trends
2.7 Application directions
Chapter 3 Network Monitor Market Insights
3.1 Introduction
3.2 Impact of COVID-19
3.2.1 North America
3.2.2 Europe
3.2.3 Asia and the Pacific
3.2.4 Latin America
3.2.5 Middle East and Africa
3.3 Evolution of Network Monitoring
3.4 Network Monitoring Industry Engineering
3.5 industry monitoring network ecosystem analysis
3.5.1 Network monitoring software providers
3.5.2 Providers of Network Monitoring Devices
3.5.3 Cloud Service Providers
3.5.4 Marketing and Distribution
3.5.5 End Users
3.5.6 Profit Margin Analysis
3.5.7 Vendor Matrix
3.6 Technology and innovation landscape
3.6.1 Patch management
3.6.2 Convergence of NetOps and IT Security
3.6.3 Network Management System and Packet Inspection APIs
3.7 Regulatory landscape
3.7.1 Worldwide
3.7.1.1 ISA/IEC 62443 Standard
3.7.2 North America
3.7.2.1 NIST Special Publication 800-53 – Guidance on Security and Privacy Controls for. Federal organizations and information systems (USA)
3.7.2.2 California Online Privacy Protection Act (CalOPPA – US)
3.7.2.3 Critical Infrastructure Protection Mandates, NERC (North America)
3.7.3 Europe
3.7.3.1 General Data Protection Regulation (EU)
3.7.3.2 Network and Information Systems Regulation (United Kingdom)
3.7.3.3 Network and Information Services Security Directive (EU)
3.7.4 Asia and the Pacific
3.7.4.1 Information Security Technology – Personal Information Security Specification GB/T 35273-2017 (China)
3.7.4.2 India National Secure Digital Communications Policy 2018 – Draft (India)
3.7.5 Latin America
3.7.5.1 National Directorate for the Protection of Personal Data (Argentina)
3.7.5.2 Brazilian General Data Protection Regulation (LGPD)
3.7.6 Materials
3.7.6.1 Law No. 13 of 2016 Concerning the Protection of Personal Data (Qatar)
3.7.6.2 Federal Law No. 2 of 2019 Concerning the Use of Information and Communication Technology in Health Care (UAE)
3.8 Patent Analysis
3.9 Investment Portfolio
3.10 Main start and news
3.11 Industry Impact Forces
3.11.1 Growth drivers
3.11.1.1 Growth in adoption of IoT and BYOD devices
3.11.1.2 The growing popularity of SaaS-based network monitoring solutions
3.11.1.3 Demand for continuous network monitoring due to increasing network complexities and security concerns
3.11.1.4 Increased network stress due to exponential rise in cloud traffic
3.11.1.5 Increased demand for resilient network monitoring systems to quickly resolve outage issues
3.11.2 Pitfalls and challenges facing the industry
3.11.2.1 High initial investment
3.11.2.2 Availability of free network monitoring tools
3.11.2.3 Compatibility issues caused by the spread of legacy systems
3.12 Analysis of growth potential
3.13 Porter’s analysis
3.13.1 Newcomer Threat
3.13.2 The bargaining power of the supplier
3.13.3 Buyer’s bargaining power
3.13.4 Substitution Risk
3.14 PESTEL analysis
3.14.1 Political
3.14.2 Economical
3.14.3 Social Networks
3.14.4 Technology
3.14.5 Legal
3.14.6 Environment
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