Exploring Potential: Factors Driving the $3.0 Billion Network Monitoring Market by 2027
According to a MarketsandMarkets research analysis, the Network Monitoring Market is expected to expand significantly. According to the analysis, market revenue is anticipated to rise from USD 2.2 billion in 2022 to almost USD 3.0 billion by 2027. From 2022 to 2027, this increase is anticipated to occur at a compound annual growth rate (CAGR) of 6.9%. With bandwidth capabilities ranging from 1&10 Gbps to 100 Gbps and a variety of technologies like Ethernet, fibre optics, and InfiniBand aimed at various end-user sectors, the growth trajectory is driven by a number of distinct factors.
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The requirement for reliable network monitoring systems and rising demand for cloud services are the two main factors propelling the market for network monitoring. The urgent need to resolve downtime issues and guarantee continuous service delivery is driving the spike in demand for resilient monitoring solutions. Additionally, there is a rising demand for continuous monitoring to quickly identify and neutralise possible risks as networks become more complex and security concerns worsen. Collectively, these elements support the market for network monitoring's predicted expansion.
Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027
From 2022 to 2027, the enterprise segment is expected to continue to dominate the market for network monitoring. This dominance was noted in 2021, and it is anticipated that it would last the entire projected period. To effectively handle the enormous number of data they process, advanced enterprise applications require high-performance connection, faultless uptime, significant throughput, and dependable operations. Recognising the crucial role network monitoring solutions play in ensuring optimal network performance and fulfilling the requirements of contemporary applications, businesses are progressively integrating them to meet these requirements.
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Software & Services to dominate network monitoring market during forecast period
Throughout the forecast period, the software and services sector is expected to continue to rule the network monitoring market. In 2021, this market segment already had a sizable proportion, and it is anticipated that this tendency will continue. Cross-domain management operations, the growth of SaaS-based network management, and the increasing importance of performance service level agreements in cloud monitoring are some of the key variables influencing this and are all changing traditional approaches to network administration. A change in network management technologies, tools, and processes is also projected as a result of the growing complexity of networks, the integration of various technologies, and a surge in the use of virtualization. These modifications help explain why software and services continue to dominate the market for network monitoring.
Network monitoring market for InfiniBand technology to witness highest CAGR during forecast period
The market for InfiniBand network monitoring is anticipated to develop at the greatest compound annual growth rate (CAGR) over the course of the forecast period. It is becoming more common to use InfiniBand-based network monitoring technology to reduce networking equipment costs while delivering high bandwidth, low latency compute, effective storage, and management across a single fabric. The advantages of InfiniBand technology, which include higher performance, less complexity, high connectivity efficiency, and dependable and stable connections, enable it to address IT infrastructure issues successfully. InfiniBand was created to provide effective scalability across many systems thanks to its exceptional latency performance and support for connections at up to 120 Gbps. The high bandwidth features and quality of service (QoS) of InfiniBand are necessary for a number of markets, including storage area networks, application clustering, inter-processor communication, and inter-tier communication. Only a small number of businesses are currently working on this technology, and while the market for InfiniBand switch systems may be tiny right now, it is predicted to grow at the fastest rate in the years to come.
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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 continued to hold a sizable market share for network monitoring, and it is anticipated that this trend will last through 2027. The rising demand for IT capacity and the widespread use of cutting-edge data centre technologies are both factors contributing to this dominance. Particularly in the US, it is anticipated that there will be a major increase in market traction as more businesses choose cloud services to avoid the up-front expenditures of building new data centres for assuring business continuity. The expansion of this market is further supported by the presence of large US firms and international cloud service providers like Amazon Web Services (AWS) and Microsoft that supply significant data centre infrastructure. Notably, prominent US-based companies account for a sizeable share of the market's revenue, solidifying the US's dominant position in the network monitoring industry.
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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