Network Monitoring Market Insights: A USD 3.0 Billion Industry by 2027
The Network Monitoring Market is projected to grow from USD 2.2 billion in 2022 to USD 3.0 billion by 2027, with a CAGR of 6.9% during the forecast period. This growth is driven by the increasing need for robust network monitoring solutions across various industries. The market encompasses offerings such as equipment, software, and services, and caters to different bandwidth requirements, including 1&10 Gbps, 40 Gbps, and 100 Gbps. Key technologies driving this market include Ethernet, fiber optic, and InfiniBand. The rising demand for efficient network performance and security solutions in an increasingly digital and connected world is fueling the expansion of the network monitoring industry.
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The rise in demand for cloud services, coupled with the surging need for resilient network monitoring systems to quickly resolve downtime issues, is expected to fuel the growth of the network monitoring market. As network complexities and security concerns escalate, continuous monitoring becomes imperative to ensure optimal performance and safeguard data integrity. This increasing reliance on cloud services amplifies the necessity for advanced network monitoring solutions, driving market expansion by addressing the critical need for seamless, uninterrupted network operations and robust security measures.
Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027
The enterprise segment held the largest share of the network monitoring market in 2021 and is expected to retain its dominant position throughout the forecast period. Advanced enterprise applications demand high-performance connectivity, constant uptime, high throughput, and high reliability to manage vast amounts of data efficiently. To fulfill these requirements, enterprises are increasingly incorporating network monitoring solutions. These solutions ensure seamless operation, optimal performance, and robust data management, enabling enterprises to maintain their competitive edge in a data-driven world.
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Software & Services to dominate network monitoring market during forecast period
The network monitoring market for software and services held a larger share in 2021 and is expected to continue this trend during the forecast period. This growth is driven by the evolution of cross-domain management operations, the rise of Software as a Service (SaaS)-based network management, and the implementation of performance service level agreements in cloud monitoring. Additionally, the increasing complexity of networks, the convergence of various technologies, and the growing adoption of virtualization are set to transform traditional network management. These factors are redefining network management technologies, tools, and practices, further propelling the market's expansion.
Network monitoring market for InfiniBand technology to witness highest CAGR during forecast period
InfiniBand-based network monitoring equipment is gaining traction due to its ability to reduce networking equipment costs while meeting high bandwidth and low-latency computing needs. It offers superior performance, reduced complexity, high interconnect efficiency, and reliable, stable connections. InfiniBand excels in latency performance, supporting up to 120 Gbps connections, and is designed for efficient scalability across multiple systems. This technology is particularly valuable for inter-tier communication, application clustering, inter-processor communication, and storage area networks, which demand high bandwidth, reliability, availability, serviceability (RAS) features, and quality of service (QoS). Although currently developed by a few companies and representing a small market, the InfiniBand switch systems sector is expected to experience the highest growth rate in the coming 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
North America held the largest market share in 2021, and this trend is expected to continue throughout the forecast period. This dominance is driven by increasing IT capacity requirements and the rising adoption of new data center technologies. In the US, significant traction is anticipated as many organizations opt for cloud services to save upfront costs associated with building new data centers for business continuity. The US hosts major global cloud service providers like Amazon Web Services (AWS) and Microsoft, which supply essential data center infrastructure. Additionally, leading companies in the network monitoring industry, which account for more than half of the revenue, are based in the US, further solidifying North America's market leadership.
Key players in the network monitoring companies 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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