The network management system is designed and utilized to efficiently manage the network’s independent components inside a bigger network. The network management system performs various tasks such as optimization, monitoring, and maintaining the network. The system provides an efficient way to locate, replace, repair, and update the network during its operation. The network management system is widely used in sectors such as hospitality, IT & telecom, education, transportation, energy and utilities, government & defense, retail, BFSI, and other industries. According to a study published by Insure Insights, the global network management system is expected to grow at a CAGR of 14.5% during the forecast period.
Top Driver: Increase in Network Infrastructure and Growing Need for Maintaining a Better Quality of Service
The network management system market is anticipated to experience high demand attributing to the increase in network infrastructure. The growing focus of key market players on developing more efficient tools looking at the high demand to attract more customers is expected to fuel the market. Development in network infrastructure and the growing need for maintaining a better quality of service are the major factors that are expected to drive the network management system market.
However, the rising network traffic and high complexity are the major factors that may hinder the market growth in the forecast period.
Platform to Make Crucial Contribution to Growth of the Market
On the basis of component, the market is segmented into Platform, Solution, Services. The platform segment accounted for a major market share and is expected to anticipate the market growth in the future. On the basis of deployment mode the market is segmented into On-Premises, Cloud. On the basis of Banking, Financial Services, And Insurance, Government, Healthcare, Retail, Transportation And Logistics, Others.
Higher Presence Of Key Players to Benefit North America Market
North America is anticipated to attain the largest market in terms of revenue in the forecast period. This factor attributes to the growth due to the presence of an increased number of market players in this region. In the Asia Pacific region, the market growth is attributed to the factor that there is a surged existence of small and medium-sized enterprises. In the industrialized nations such as the Russia, U.S., Germany, India, China, Singapore, France, Australia, Italy, and Spain there is a huge need to protect the important data from advanced persistent threats (ATPs) thus boosting the demand of the network forensics.
Players to Focus on Network Management System Market
The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Cisco, IBM, Huawei, Juniper Networks, Nokia, SolarWinds, CA Technologies, NETSCOUT, Riverbed Technology, Micro Focus, Ipswitch (Progress), BMC Software, ExtraHop Networks, Colasoft, Flowmon Networks, among others could be at the forefront of the competition in the global market.
Cisco: In August 2020, Cisco announced it completed the acquisition of ThousandEyes. ThousandEyes’ internet and cloud intelligence platform expands visibility and insights into the digital delivery of applications and services over the internet and the cloud. ThousandEyes enables organizations to visualize any network as if it was their own, quickly surface actionable insights, and collaborate and solve problems with service providers.
Broadcom Inc.: In November 2018, Broadcom Inc., a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, announced that it had completed its acquisition of CA Technologies.
Scope of the Report
By Deployment Mode
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Table of Content
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