Network Monitoring Market worth $3.0 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 20, 2022 /PRNewswire/ -- According to a research report "Network Monitoring Market with COVID-19 Impact by Offering (Equipment, Software & Services), Bandwidth (1&10 Gbps, 40 Gbps, 100 Gbps), Technology (Ethernet, Fiber Optic, InfiniBand), End User and Geography - Global Forecast to 2027", published by MarketsandMarkets™, the Network Monitoring Market is projected to grow from USD 2.2 billion in 2022 and is projected to reach USD 3.0 billion by 2027; it is expected to grow at a CAGR of 6.9 % from 2022 to 2027.
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The rise in demand for cloud services, surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring due to rise in network complexities and security concerns is expected to fuel the growth of the network monitoring market.
"Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027"
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. High-performance connectivity, constant uptime, high throughput, and high reliability is required by advanced enterprise applications in order to manage a vast amount of data. To fulfil these requirements, network monitoring is being incorporated in enterprises.
"Software & Services to dominate network monitoring market during forecast period"
The network monitoring market for software & services held a larger share in 2021 and is expected to follow the trend during the forecast period. Cross domain management operations, Software as a Service (SaaS)-based network management market, and performance service level agreements in cloud monitoring are expected to redefine traditional network management. Moreover, increasing network complexity, converging technologies, and growing virtualization implementation are expected to transform network management technologies, tools, and practices.
"Network monitoring market for InfiniBand technology to witness highest CAGR during forecast period"
InfiniBand-based network monitoring equipment is adopted to reduce networking equipment costs and meet the requirements for high bandwidth, low-latency computing, and storage and management over a single fabric. InfiniBand addresses IT infrastructure challenges by providing consumers with superior performance, reduced complexity, the highest interconnect efficiency, and reliable and stable connections. InfiniBand provide excellent latency performance and products, supporting up to 120 Gbps connections. It was created to allow for the efficient scalability of multiple systems. Inter-tier communication, application clustering, inter-processor communication, and storage area networks are just a few of the markets that require high bandwidth RAS features and QoS. pHowever, currently, only a few companies are involved in the development of this technology. Although the market for InfiniBand switch systems is small, it is expected to grow at the highest rate in the next few 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 a similar trend is likely to continue during the forecast period. This can be attributed to the increasing IT capacity requirements and rising adoption of new data center technologies. The market in the US is expected to experience greater traction as a significant number of organizations are likely to opt for cloud services to save their upfront cost of building new data centers for business continuity. Also, the US is home to global cloud service providers as well as for companies such as Amazon Web Services (AWS) and Microsoft (US), which provide data center infrastructure. Moreover, the leading companies in the network monitoring market account more than half of the revenue and are based in the US.
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.
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