Driving Efficiency: The Evolution of Network Monitoring Market
According to a MarketsandMarkets research report, the Network Monitoring Market is expected to develop significantly, rising from USD 2.2 billion in 2022 to USD 3.0 billion by 2027. During the projected period, this forecast indicates a strong compound annual growth rate (CAGR) of 6.9%.
The report identifies a number of factors that are driving this growth trajectory, such as the emergence of advanced technologies like Ethernet, fibre optics, and InfiniBand, the growing complexity of networks, and the growing need for real-time monitoring and analysis to guarantee network performance and security. In the upcoming years, there will likely be a constant increase in demand for network monitoring solutions, which include hardware, software, and services, as businesses from a variety of industries place a high priority on effective network administration and optimisation.
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The Network Monitoring Market is expected to increase significantly over the coming years due to a number of important considerations. To guarantee smooth performance and connectivity, the growing demand for cloud services has made strong network monitoring systems essential. Furthermore, the increasing need for robust network monitoring solutions is a result of the necessity to promptly handle downtime problems and reduce operational interruptions. Organisations are placing a higher priority on continuous monitoring as networks becoming more intricate and linked in order to proactively identify and address potential security risks and vulnerabilities. The market for network monitoring is anticipated to rise in the near future due to the increased focus on network security, dependability, and performance optimisation.
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Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027
The enterprise segment became the market leader in network monitoring in 2021 and is expected to stay there for the foreseeable future. The increasing need for solid reliability, high-performance connection, and unbroken uptime—all necessary to support sophisticated enterprise applications managing massive amounts of data—explains this segment's importance. Businesses are incorporating network monitoring solutions into their operations more and more as a reaction to these demands. Through the use of network monitoring technology, businesses may proficiently oversee their networks, guaranteeing peak efficiency, reducing the likelihood of unavailability, and protecting vital information and processes. The market for network monitoring solutions is expected to grow further as long as businesses maintain their focus on operational effectiveness and seamless connectivity.
Software & Services to dominate network monitoring market during forecast period
The market for network monitoring was led by the software and services segment in 2021, and this trend is expected to continue over the forecast period. The importance of this market can be ascribed to multiple important variables that are transforming conventional network management methodologies. Conventional network management methodologies are likely to be revolutionised by cross-domain management operations, Software as a Service (SaaS) based network management solutions, and the use of performance service level agreements in cloud monitoring. Furthermore, major changes in network management technologies, tools, and techniques are expected as a result of the growing complexity of networks, technological convergence, and broad adoption of virtualization.
Network monitoring market for InfiniBand technology to witness highest CAGR during forecast period
In order to meet the demands for high bandwidth and low latency computing and storage, as well as to handle networking difficulties, InfiniBand-based network monitoring equipment is being adopted more and more. This technology is a desirable option for enterprises looking for dependable and robust connections since it provides higher performance, lower complexity, and high interconnect efficiency. Storage area networks, inter-tier communication, application clustering, and inter-processor communication are just a few of the applications that InfiniBand is well-suited for because to its outstanding latency performance and capacity for connections up to 120 Gbps. Despite its benefits, only a small number of businesses are now developing InfiniBand technology. But in the upcoming years, the market for InfiniBand switch systems is anticipated to develop significantly because to the growing demand from a variety of industries for high-bandwidth and quality-of-service characteristics.
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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 lead the network monitoring market, and it is expected that this trend would continue for the duration of the forecast. The rising demand for IT capacity and the growing uptake of cutting-edge data centre technologies are responsible for the region's robust market presence. A large amount of traction is anticipated, especially in the US, where an increasing number of businesses are choosing cloud services to reduce the up-front expenses of constructing new data centres. Furthermore, the US acts as a centre for international cloud service providers that provide reliable data centre infrastructure solutions, such as Microsoft and Amazon Web Services (AWS). Further solidifying the US's market dominance in network monitoring is the fact that a sizable percentage of the top players in the industry, accounting for more than half of total revenue, have their headquarters there.
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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