Investing in the Network Monitoring Market: Projected Worth of $3.0 Billion
The Network Monitoring Market is anticipated to expand significantly, according to a MarketsandMarkets study. The market, which was valued at USD 2.2 billion in 2022, is anticipated to rise at a CAGR of 6.9% from 2022 to 2027 to reach USD 3.0 billion. The research cites a number of factors that have contributed to this growth, such as the expanding requirement for efficient bandwidth management, improvements in networking technologies like Ethernet and fibre optics, and the rising demand for network security and optimisation solutions.
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Several factors are likely to contribute to the huge expansion of the network monitoring market. In order to assure uptime and promptly handle any downtime issues, there is an increasing demand for cloud services, which increases the need for reliable network monitoring solutions. Furthermore, the complexity of networks and growing security concerns necessitate the use of technologies for continuous monitoring. All of these elements work together to drive the growth of the network monitoring market as companies look for dependable and effective technologies to manage and secure their networks.
Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027
From 2022 to 2027, the enterprise segment is predicted to hold onto its dominant position in the market for network monitoring. It already has the biggest market share in 2021, and this pattern is anticipated to persist. In order to manage large amounts of data successfully, advanced enterprise applications require high-performance connectivity, unbroken uptime, efficient throughput, and dependable operations. In order to meet these needs and guarantee optimal network performance and reliability for their crucial activities, businesses are implementing network monitoring solutions.
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Software & Services to dominate network monitoring market during forecast period
Building on its greater market share in 2021, the software and services category is anticipated to dominate the network monitoring market over the forecast period. The introduction of cross-domain management operations, the expansion of the Software as a Service (SaaS)-based network management market, and the acceptance of performance service level agreements in cloud monitoring are all factors that contribute to this trend. The evolution of network management technologies, tools, and practises is also anticipated to be fueled by the growing complexity of networks, the convergence of technologies, and the quick adoption of virtualization. These elements work together to make software and services the market leaders in network monitoring.
Network monitoring market for InfiniBand technology to witness highest CAGR during forecast period
The market for InfiniBand network monitoring is anticipated to experience the greatest compound annual growth rate (CAGR) throughout the course of the forecast period. The needs for high bandwidth, low latency computation, and storage management via a single fabric are met by InfiniBand-based network monitoring equipment, which also provides affordable networking solutions. By providing higher performance, decreased complexity, great interconnect efficiency, and dependable connections, InfiniBand tackles IT infrastructure concerns. InfiniBand has high latency performance, supports connections up to 120 Gbps, and facilitates effective scaling of many systems. The market for InfiniBand switch systems is now confined to a small number of businesses, but it is anticipated to expand significantly over the next several years.
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North America held significant share of network monitoring market in 2021 and is expected to follow the trend by 2027
In 2021, North America accounted for a sizable portion of the global network monitoring market, and this trend is anticipated to last until 2027. The dominance of the region can be ascribed to the expansion of data centre technology adoption and the growing need for IT capacity. Because many businesses choose cloud services to save upfront expenses associated with constructing new data centres, the US sector in particular is primed for significant development. The market for network monitoring is further boosted by the presence of major US corporations like Amazon Web Services (AWS) and Microsoft as well as international cloud service providers. Notably, the top companies in this industry, who generate more than half of the revenue, are likewise situated in the US.
Key players in the network monitoring market include Gigamon (US), NETSCOUT (US), Keysight Technologies (US), Viavi, APCON (US), and Garland Technology (US), Cisco (US), Broadcom (US), Arista Networks (US), Juniper Networks, Inc. (US), Zenoss (US) are among the leading companies in the network monitoring market. Apart from these, Network Critical (UK), CALIENT Technologies (CALIENT) (US), Netgear (US), Motadata (US), Riverbed Technology (US), Accedian Networks (US), Datadog (US), Kentik (US), Auvik Networks (Canada), LogicMonitor (US) and Paessler (Germany) are among a few emerging companies in the network monitoring market.
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