PUBLISHER: Allied Market Research | PRODUCT CODE: 1414880
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414880
According to a new report published by Allied Market Research, titled, "Network Management Market," The network management market was valued at $9.5 billion in 2022, and is estimated to reach $25.3 billion by 2032, growing at a CAGR of 10.6% from 2023 to 2032.
Factors such as rise in digitalization and increase in adoption of advanced technologies such as IoT across the globe positively impact the growth of the market. In addition, the increase in adoption of network management solution across businesses to enhance operation & productivity is anticipated to propel the growth of the market in future. Furthermore, an increase in investments by top players and a rise in demand for enhanced security solutions are expected to provide lucrative growth opportunities for market expansion during the forecast period. Moreover, the increase in adoption of emerging technologies such as 5G & edge computing and growth in demand for SD-WAN technology are anticipated to provide lucrative growth opportunities for the market in the upcoming years. However, network infrastructure complexity, security threats and costs budget are anticipated to hamper the market growth.
Moreover, advancement of technologies such as artificial intelligence (AI), machine learning (ML), and software-defined networking (SDN) fuel the growth of the market. In addition, growth in hybrid cloud migration, and rise in demand for digital experience monitoring (DEM) are anticipated to propel the growth of the market during the forecast period. Moreover, the surge in demand for enhanced network security are expected to provide lucrative opportunities for the growth of the market during the forecast period.
The network management market is segmented into component, deployment mode, network type, organization size, industry vertical, and region. On the basis of component, it is categorized into hardware, software and services. On the basis of network type, the market is divided into LAN, WAN and MAN. On the basis of deployment mode, it is bifurcated into on-premise and cloud. On the basis of organization size, the market is bifurcated into large enterprises, and small & medium-sized enterprises. On the basis of industry vertical, the market is classified into manufacturing, BFSI, retail, healthcare, IT & telecom and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the network management market are Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, juniper Networks, Inc., SolarWinds Corporation, Broadcom Inc., Huawei Technologies Co., Ltd., Hewlett Packard Enterprise, BMC Software, Inc. and Nokia Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which help to drive the growth of the network management market globally.
Key Benefits for Stakeholders
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)