Network Management Systems Market Size to Reach USD 21.1 Billion by 2030
Network Management Systems Market Size in 2021 was USD 9.2 Billion, Market Value set to reach USD 21.1 Billion by year 2030 at 9.7% CAGR
Network Management Systems Market Overview
A network management system (NMS) enables an IT professional to manage, monitor, and maintain a computer network. An NMS helps to ensure the availability, performance, and security of the network by providing a centralized platform for network administration and troubleshooting.
NMS has features such as monitoring various aspects of networks, configuration and management of network devices, detection and diagnosis of network problems, monitoring and analyzing network performance, and managing security by providing tools for detecting security threats.
The market is being propelled by the ever rising demand for reliable and efficient networks. The growing adoption of 5G technology, the Internet of Things (IoT), machine learning (ML), and artificial intelligence (AI) are some of the factors leading to market growth.
The market is highly competitive, with a large number of players offering various network management solutions. The market is expected to witness significant growth in the coming years due to the increasing adoption of advanced technologies and the rising demand for efficient network management solutions.
Key players in the market include Cisco Systems, HPE, IBM, Oracle, and CA Technologies
Network Management Systems Market Research Report Highlights and Statistics
- According to our report the network management systems market size is expected to grow from USD 9.2 billion in 2021 to USD 21.1 billion by 2030, at a CAGR of 9.7% during the forecast period.
- The market is segmented based on component, deployment mode, organization size, and vertical.
- Among deployment modes, the cloud segment is expected to hold a larger Network Management Systems market share during the forecast period due to the increasing adoption of cloud-based networking solutions.
- North America is set to dominate the NMS market, followed by Europe and Asia Pacific. The market in Asia Pacific is set to grow at the highest CAGR during the forecast period, due to the increasing adoption of Network Management Systems share in the region.
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Network Management Systems Market Trends
- The rise of cloud computing, intelligent networks, and zero-trust architecture
- The growth of mobile devices, BYOD, Agile workflow methods and packages and Cloud-based analytics
- Proficiency of Software-defined networking (SDN)
- Rise of Automation and AI
Network Management Systems Market Dynamics
The market is driven by the
- Increasing adoption of network management solutions by organizations to manage and optimize their IT infrastructure.
- Growing need for efficient network management due to the growing complexity of networks along with the increasing reliance on networked systems in businesses.
- Increasing adoption of cloud-based network management solutions
- The growing demand for mobile network management solutions
- Increasing number of Internet of Things (IoT) devices being connected to networks.
Growth Hampering Factors
- High cost of implementing and maintaining network management systems, which can be challenging for some SMEs.
- Shortage of skilled professionals with expertise in network management, making it difficult for organizations to effectively manage their networks.
- By solution: network performance management, network security management, network configuration and change management, and network fault management.
- By deployment model: cloud-based and on-premises.
- By organization size: Small and medium-sized businesses (SMBs) and large enterprises.
- By vertical: IT and telecom, BFSI, healthcare, government and defense, retail, manufacturing, and others.
- By region: North America,Asia Pacific, Europe, Middle East and Africa, and Latin America.
Network Management Systems Market Regional Overview
- The network management systems market share in the North American region stands out as the largest in terms of revenue and is expected to grow at a good pace. The USA is home to some of the largest tech giants in the world.
- The network management systems market share in the Asia Pacific region is expected to be the fastest-growing market for network management systems due to the increasing adoption of network management solutions by organizations in the region. Countries like China and India have a large number of small and medium-sized businesses that are adopting network management solutions to improve their IT infrastructure and support their business operations.
- The network management systems market share in the European region is also expected to be a significant contributor to the growth of the network management systems market.
Network Management Systems Market Key Players
- Cisco Systems
- Hewlett Packard Enterprise (HPE)
- NetScout Systems
- PRTG Network Monitor (Paessler AG)
- Nagios Enterprises
- Micro Focus
- Riverbed Technology
- ManageEngine (Zoho Corporation)
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Mr. Frank Wilson
Acumen Research and Consulting