PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1608894
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1608894
Global network management system market is estimated to be valued at USD 10.11 Bn in 2024 and is expected to reach USD 18.91 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.4% from 2024 to 2031.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2023 | Market Size in 2024: | 10.11 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 9.40% | 2031 Value Projection: | 18.91 Bn |
Network management system market refers to software and hardware tools utilized by enterprises to monitor, configure, provision and manage IT infrastructure and resources within a network. As enterprise networks continue to expand in size and complexity due to trends such as digital transformation, remote working and cloud migration, there will be growing need for robust network management solutions that provide comprehensive visibility across hybrid networks. Network management systems help organizations gain end-to-end visibility into their network architecture, proactively identify issues and streamline operations through automation of routine tasks. Integration of artificial intelligence and analytics capabilities within network management offerings can further augment their functionalities.
Global network management system market growth is driven by rising complexity of modern enterprise networks due to widespread adoption of cloud, IoT and 5G technologies. Data security and privacy can hamper the market growth. However, opportunities lie in leveraging advanced technologies like AI and analytics for predictive monitoring and incident resolution. Organizations are focusing more on software-defined, cognitive and cloud-based network management solutions for agility to support changing business needs. Vendors compete based on capabilities around integrated monitoring of physical, virtual and hybrid environments, customizable dashboards and reporting features, scalability and automation. Key players in the network management system market include SolarWinds, IBM, Cisco, Broadcom, ManageEngine and Micro Focus.
Key features of the study
This report provides in-depth analysis of the global network management system market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global network management system market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Cisco, Broadcom CA Technologies, Micro Focus, Juniper Networks, Nokia, Huawei,Paessler, Kentik, Progress, AppNeta HelpSystems, Ericsson, Hewlett Packard Enterprise Company, and Dell Technologies, Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global network management system market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global network management system market