The global Network Monitoring Market is anticipated to expand significantly over the next few years, according to a study named "Network Monitoring Market with COVID-19 Impact" that was released by MarketsandMarketsTM. The market, which was valued at USD 2.2 billion in 2022, is anticipated to rise at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2027, reaching USD 3.0 billion.

Numerous factors are largely responsible for the huge expansion of the network monitoring industry. First, demand for cloud services has significantly increased. Strong network monitoring solutions are required more than ever before as businesses rapidly use cloud computing to guarantee the best possible performance, security, and availability of cloud-based applications and services. Businesses are able to provide dependable and unbroken services to their consumers thanks to network monitoring, which helps discover and fix any problems that may occur in the cloud environment.
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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.

Surging demand for resilient network monitoring systems to quickly resolve downtime issues
Due to the urgent requirement to address downtime concerns, there is an increase in demand for resilient network monitoring solutions. Failure of network equipment can have a variety of detrimental effects, including downtime, lost productivity, and potential security risks. High CPU or network consumption can severely slow down operations, while hardware problems or mistakes have the potential to crash the entire network infrastructure.

Network monitoring is essential for swiftly locating and resolving these problems. Businesses can quickly identify and fix any faults by continuously monitoring the network. By taking proactive measures, users can continue to access essential services and applications while minimising downtime. Companies can prevent financial costs brought on by missed productivity and possibly consumer displeasure by minimising downtime.

Proliferation of Internet of Things (IoT) and Bring Your Own Device (BYOD) phenomenon

Organisations are being greatly impacted by the expansion of the Internet of Things (IoT) and the Bring Your Own Device (BYOD) phenomenon, which is fueling the demand for efficient monitoring and analytics solutions.

BYOD is the practise of allowing employees to use their own mobile devices for business-related tasks. As mobile devices grow more and more common, this practise has been widely accepted. Because mobile devices are used by employees for a variety of applications, services, and tasks, a lot of data is sent to and kept on them.

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Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027

From 2022 to 2027, the enterprise sector is anticipated to account for the greatest share of the market for network monitoring. This market segment already held the biggest market share in 2021, and it is anticipated that it will continue to hold this position over the coming years.

To efficiently handle and analyse massive amounts of data, advanced corporate applications need high-performance connectivity, constant uptime, high throughput, and high dependability. Enterprises are increasingly implementing network monitoring solutions to meet these criteria and guarantee optimal network performance.

With the help of network monitoring, businesses can keep an eye on their network infrastructure constantly, spot any possible bottlenecks or vulnerabilities, and take proactive measures to fix any problems that may crop up. It gives organisations real-time visibility into network traffic, performance indicators, and security risks, enabling them to take preventative action to improve their network operations and guarantee uninterrupted service delivery.

Software & Services to dominate network monitoring market during forecast period

During the forecast period, the network monitoring software and service markets are expected to rule. In 2021, this market sector already had a greater share, and it is anticipated that this tendency will continue in the ensuing years.

The market domination of software and services in network monitoring is caused by a number of causes. The requirement for cross-domain management operations is a significant factor. Modern networks, which span numerous sectors and technologies, are getting more and more complicated. In order to provide smooth connectivity and optimal network performance, software and services play a critical role in providing effective control and monitoring across these many domains.

Another important factor driving the market for software and services in the network monitoring space is the growth of Software as a Service (SaaS)-based network management. Without the requirement for on-premises equipment, SaaS gives the flexibility and scalability needed to monitor and manage networks effectively. SaaS-based network management solutions can help organisations acquire real-time insight, analyse network data, and put preventative measures in place to improve network performance.

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The focus on performance service level agreements (SLAs) in cloud monitoring is also changing the way conventional network management is done. In order to verify SLA compliance and maintain the appropriate performance levels, organisations must use reliable network monitoring software and services. This demand is growing as more businesses employ cloud-based services. In order to properly monitor, measure, and control their network performance in the cloud environment, organisations can use cloud monitoring systems, which include extensive analytics and reporting capabilities.

North America held significant share of network monitoring market in 2021 and is expected to follow the trend by 2027

In 2021, North America became a market leader in network monitoring, and it is anticipated that this trend would last until 2027. Due to rising demands for IT capacity and the expanding use of new data centre technologies, the region held the biggest market share.

The market for network monitoring is anticipated to develop significantly, particularly in the United States. In order to meet their IT requirements, many US businesses are choosing cloud services, saving themselves the up-front expenditures involved in constructing new data centres. The adoption of the cloud for business continuity is a trend that is anticipated to increase demand for network monitoring tools.

Global cloud service companies with reliable data centre infrastructure, like Microsoft and Amazon Web Services (AWS), are based in the US. As a result of their customers' need for effective monitoring solutions to guarantee the performance, security, and availability of their cloud-based services, these businesses help to fuel the expansion of the network monitoring market in North America.

News Covered:

https://www.globenewswire.com/en/news-release/2022/07/05/2474122/0/en/Network-Monitoring-Market-worth-3-0-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

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