May 18, 2020
According to the research report titled ‘Network Monitoring Market Size By Component, By Enterprise Size, By Network Speed, By Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global network monitoring market is projected to expand substantially through 2026.
Growing demand for smooth operations across various industry verticals is a major factor driving network monitoring market growth. The technology not only monitors but also optimizes and troubleshoots a computer network performance. Network monitoring allows managers and administrators to keep a track of performance of network service as well as overall quality of the underlying network. The solution helps in anticipating potential network interruptions and address issues proactively. Network monitoring assists in preserving a network from congestion, thereby ensuring smooth business operations.
Global network monitoring market share is expected to grow as the system allows remote monitoring of traffic flow, routers & switches, network services, and bandwidth utilization. The software can be used through cloud or on-premise deployment as well as combinedly for highest visibility. Increasing utilization of network mapping and monitoring software by government agencies is stimulating the industry outlook. Furthermore, growing demand for robust IT infrastructure in BFSI sector in order to meet the external & internal service standards is favoring the market scenario.
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As per component type, network monitoring switch segment is predicted to expand with a CAGR of 10% through 2026. Integration of hardware components for network monitoring is fueling the segmental growth.
In terms of service type, managed services segment is reckoned to witness a y-o-y growth rate of 10% between 2020 and 2026, primarily due to shifting focus among enterprises towards outsourcing network management operations.
By network speed, 40 Gbps segment accounted for 15% market share in 2019 and is poised to showcase similar growth in the ensuing years. Network monitoring system with 40 Gbps network speed offers higher feasibility as compared to its counter parts.
Worldwide network monitoring market share from industrial application is predicted to register a growth rate of 9% during 2020-2026. Increasing usage of IoT devices in manufacturing industries is stimulating the adoption of network monitoring solutions.
Considering the geographical landscape, network monitoring market in Middle East & Africa is expected to grow with a CAGR of 12% through 2026, owing to rising number of smart city projects.
The major contenders in worldwide network monitoring market are Viavi Solutions Inc., SolarWinds Inc., SevOne Inc., Riverbed Technology Inc., NETSCOUT Systems Inc., Logic Monitor Inc., LiveAction Inc., Juniper Networks Inc., Ixia (Keysight), IBM Corp., Gigamon Inc., Garland Technology LLC, ExtraHop Networks Inc., Colasoft Inc., Cisco Systems, Broadcom Inc., Big Switch Networks Inc., AppNeta Inc., APCON Inc. and Accedian Networks Inc. among others.