Global Network Monitoring Market Size By Component, By Enterprise Size, By Network Speed, By Application, And By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNetwork Monitoring Market Size And Forecast
Network Monitoring Market size was valued at USD 2.12 Billion in 2024 and is projected to reach USD 3.35 Billion by 2031, growing at a CAGR of 5.90% from 2024 to 2031.
Global Network Monitoring Market Drivers
The market drivers for the Network Monitoring Market can be influenced by various factors. These may include
- Growing Cybersecurity Risks To identify and address any vulnerabilities and incidents in real-time, reliable network monitoring solutions are required due to the increase in cyberattacks, data breaches, and other security risks.
- Increasing Complexity of Network Infrastructure As businesses grow and implement increasingly sophisticated IT infrastructures, such as mobile networks, cloud computing, and Internet of Things devices, they will require sophisticated network monitoring solutions to maintain and enhance these intricate settings.
- IoT Device Proliferation As the number of connected IoT devices rises quickly, massive volumes of data are being generated and network traffic is rising. To guarantee smooth connectivity and performance, advanced network monitoring solutions are required.
- Cloud service adoption The demand for network monitoring solutions is being driven by the increased adoption of cloud services and hybrid cloud environments, which necessitate constant monitoring to guarantee service availability, performance, and security.
- Regulation Compliance Requirements Organisations must employ extensive network monitoring in order to comply with stringent regulatory requirements and industry standards for data protection and network security, such as GDPR, HIPAA, and PCI-DSS.
- Emphasis on Quality of Service (QoS) and Network Performance Businesses are placing more and more emphasis on guaranteeing high-quality service delivery and optimising network performance, especially for mission-critical applications. This is creating a demand for efficient network monitoring solutions.
- Trends in BYOD and remote work Network monitoring is now more important than ever to control and safeguard remote access and personal devices linked to business networks, thanks to the growth of remote work and Bring Your Own Device (BYOD) rules.
- Technological Advancements in Artificial Intelligence and Machine LearningBy incorporating AI and ML technologies into network monitoring solutions, these solutions are becoming more effective and appealing to organisations by improving their capacity to analyse vast amounts of network data, anticipate problems, and automate responses.
- Growing Need for Network Automation Businesses are looking to automate network management processes in order to save money on operations and increase productivity. As a result, there is an increasing need for network monitoring systems that facilitate automation and orchestration.
- Initiatives for Digital Transformation Organisations in a variety of sectors are implementing new procedures and technology as part of a digital transformation. Strong network monitoring is required as a result of this transition to guarantee the dependability and efficiency of digital infrastructure.
- Growth of Managed Service Providers (MSPs) The need for network monitoring solutions that Managed Service Providers (MSPs) can utilise to provide their clients with high-quality services is being driven by the growing reliance on MSPs for network management and IT services.
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Global Network Monitoring Market Restraints
Several factors can act as restraints or challenges for the Network Monitoring Market. These may include
- Exorbitant Deployment and Maintenance Costs It might be costly to implement complete network monitoring systems. For small and medium-sized businesses (SMEs), the initial cost of obtaining sophisticated monitoring systems as well as the continuing costs for upkeep, updates, and support, can be prohibitive.
- Integration Complexity It might be difficult and time-consuming to integrate network monitoring tools with the current IT architecture. It can be challenging for organisations to integrate current apps and legacy systems seamlessly because of this.
- Problems with Scalability It can be difficult to scale network monitoring systems as companies expand and their networks get more complicated. It can be challenging to make sure the monitoring system can manage more devices and more traffic without seeing a decrease in performance.
- Data Security and Privacy Issues Network monitoring entails gathering and analysing enormous volumes of data, some of which may contain sensitive information. Maintaining data privacy and adhering to laws like the GDPR can be very difficult.
- Deficits in Knowledge and Experience Network monitoring demands specific knowledge and abilities to be done effectively. The implementation and effective usage of network monitoring solutions may be hampered by the frequent lack of qualified IT specialists who can administer and run these kind of systems.
- Quick Shifts in Technology Because technology advances so swiftly and introduces new improvements on a regular basis, network monitoring systems might become out of date very soon. It takes constant investment and improvements to stay up to date with the newest trends and technologies.
- Lock-in of the vendor Certain network monitoring solutions can lead to vendor reliance, which makes it challenging for businesses to move between providers or interact with other systems. This may reduce adaptability and raise overall expenses.
- Overheads in Performance Network activities may occasionally be slowed down by performance overheads introduced by network monitoring tools. One of the biggest challenges is keeping optimal network performance while balancing extensive monitoring.
- Adherence to Regulations Regulations governing data management and network monitoring differ between countries and sectors. Ensuring adherence to pertinent regulations can pose a complex and expensive challenge.
Global Network Monitoring MarketSegmentation Analysis
The Global Network Monitoring Market is Segmented on the basis of Component, Enterprise Size, Network Speed, Application, And Geography.
Network Monitoring Market, By Component
- Monitoring Equipment
- Network Monitoring Switch
- Network Terminal Access Point (TAP)
- Software Platform
- Service
- Professional Services
- Managed Services
When we look at what makes up the market, we see it's divided into a few key areasMonitoring Equipment, Software Platforms, and the services that tie it all together. Interestingly, the monitoring equipment specifically for data monitoring switches – you might know them as network packet brokers – is expected to grow the quickest! Why? Well, there's been a lot of investment in making these network packet brokers better to meet the demand for more efficient networks, and that's fueling their growth worldwide. Think about iteveryone wants simpler, automated data centers, and we're all using more cloud services. Plus, there's this growing trend of using bare metal switches along with the need for more bandwidth. Add to that the advancements in network packet brokers themselves, plus all the multimedia content and web apps we're using, and you've got a recipe for a booming network data provider market. Basically, all these things are pushing the network packet broker market forward! And the big companies? They're focused on creating new and improved network packet broker solutions for tons of different industries and applications.
Network Monitoring Market, By Enterprise Size
- Enterprises
- Telecommunications Industry
- Government Organisations
- Cloud Service Providers
We can break down the market based on who's using network monitoringEnterprises, the Telecommunication Industry, Government Organizations, and Cloud Service Providers. Expect the telecommunications industry to still be a major player in the network monitoring market in the coming years. After all, the global telecom sector is booming, which is a big reason why network monitoring is so important. People need to see what's happening on their networks, and that's pushing things forward, too. Think about itas everyone wants more data, telecom networks have changed massively. Keeping these networks running smoothly is tough, considering how complex they've become. That's where network monitoring comes in - it helps keep an eye on everything and catch any hardware problems or weird stuff that could cost money.
Network Monitoring Market, By Network Speed
- 1 and 10 Gbps
- 40 Gbps
- 100 Gbps
- 400 Gbps
Based on Network Speed, The market is segmented into 1 and 10 Gbps, 40 Gbps, 100 Gbps, and 400 Gbps. During the projected period, the network monitoring equipment market for 40 Gbps bandwidth will retain a large share. Monitoring equipment with a bandwidth of 40 Gbps is being used in data centers and core network installations. The burgeoning data center business, as well as the increased usage of servers and virtualization technologies, is pushing the demand for more bandwidth. This network monitoring equipment is optimized and offers cost-effective switching options.
This also considerably decreases the number of switches necessary on the same network. Garland Technology (US) has maintained its aggressive outreach strategy with the launch of its newest passive TAP, as part of its global growth. The 40Gigabit-SR4 fiber network TAP eliminates the requirement for SPAN Ports and enables customers to TAP multi-mode OM3 and OM4 fiber types while maintaining complete network visibility. One of the primary advantages of this new TAP is the elimination of SPAN Ports for monitoring a 40Gigabit network, which limits network security systems and network performance monitoring.
Network Monitoring Market, By Application
- IT & Telecom
- BFSI
- Healthcare
- Energy & Utility
- Government
- Retail
- Industrial
Based on Application, The market is segmented into IT & Telecom, BFSI, Healthcare, Energy & Utility, Government, Retail, and Industrial.
Network Monitoring Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Okay, so when we look at the world map of Network Monitoring, we can break it down into regionsNorth America, Europe, Asia Pacific, and, well, the rest of the world. Right now, North America is the biggest player, and it looks like that's going to stay the case, thanks to everyone needing more IT power and jumping on board with new data center tech. Plus, in the United States, more and more companies are going with cloud services – makes sense, right? Who wants to build a whole new data center just to keep things running? But don't count out Asia Pacific! Back in 2019, they already had about 20% of the global market. With more people having money to spend and using things like IoT and cloud computing, their growth is really taking off.
Key Players
The “Global Network Monitoring Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Solar Winds Worldwide, LLC, Niagara Networks, Ixia (Key sight), Profitap HQ B.V., Cisco Systems, Inc., Microsoft Corporation, Nagios Enterprises, LLC, Logic Monitor, Inc., Cubro Network Visibility, NETSCOUT Systems, Inc.., Gigamon, Keysight Technologies, VIAVI Solutions Inc., APCON, Garland Technology, Broadcom, Arista Networks, Inc.The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Solar Winds Worldwide, LLC, Niagara Networks, Ixia (Key sight), Profitap HQ B.V., Cisco Systems, Inc., Microsoft Corporation |
SEGMENTS COVERED | By Component, By Enterprise Size, By Network Speed, By Application, And By Geography |
CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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