The global Network Management Market is expected grow at a CAGR of 9% during the forecast period from 2017 to 2023. The network management market 2020 will witness a robust expansion due to the rising adoption of cloud-based technologies and increasing growth rate of cybercrime. Additionally, higher demand for defense and government, BFSI, travel and tourism, education, media and entertainment, healthcare act as the major factor to driver the growth of global Network Management industry. The other factors affecting the market network management is the increased complex structure and growing embedment of virtualization in order to reconstruct the network management. Moreover, a rise in demand for cloud monitoring is believed to thrive the expansion of network management globally. Apart from these, amplified network complexity and upward implementation of virtualization also play an important role to drive the market globally.
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The enterprises such as SolarWinds propose various services like deploying, selecting and integration of software products on extensive, single-pane-of-glass visibility to facilitate network management on a broader scale. These products provide users with every facility required for a seamless experience. The growing demand among small and medium enterprises will also bring an impact on the growth of the market. An increase in the usage of data centers and visualization, IP video is the other important factor propelling the growth of the market at a global level. Adoption of artificial intelligence, need for the optimization of business operations is another factor leading to the growth of the global network management market.
Network Management Market Segmentation:
The global network management system market is divided by vertical, organization size and component.
- On the basis of vertical, the market is divided into government, BFSI, education, healthcare, travel and tourism, media and entertainment, and others.
- On the basis of organization size, the market is classified into large enterprises and small-medium enterprises.
- On the basis of components, the market is further classified into solution and service. The solution segment is further divided into network security management, network performance monitoring and management, network traffic management, network configuration management, IP address management, and others. The service segment is sub-divided into support services, consulting services, integration services, and others.
Network Management Market Key Players
Some of the prominent players in the global Network Management Market are Avaya Inc. (U.S.), Alcatel-Lucent S.A. (France), IBM Corporation (U.S.), Juniper Networks Inc. (U.S.), Cisco Systems Inc. (U.S.), Aruba Network Inc. (U.S.), CA Technologies Inc. (U.S.), Netscout System, Inc. (U.S.), Solarwinds Worldwide, LLC. (U.S.), BMC Software, Inc. (U.S.) and Compuware Corporation (U.S.) among others.
The global network management market is analyzed for regions like Europe, Asia-Pacific, North America, and the Rest of the World. North America is estimated to hold the largest market share whereas Asia-Pacific is considered to expand at the fastest rate during the forecast period. Owing to the adoption of technological advancements and the establishment of artificial intelligence across various industry verticals has resulted in the expansion of the market in North America.
The U.S holds the maximum market share in the context of revenue and adoption of artificial intelligence. The U.S and Canada are expected to drive the expansion of the network management in North America region due to the established key players such as CA technologies, Avaya Inc., IBM Corporation, Juniper Networks Inc., Cisco Systems., Aruba Network Inc. owing to the presence of developed economies in the region, the market is considered to display a robust growth in the forthcoming period. Moreover, North America has developed infrastructure in the region which allows a higher penetration of devices which provides better connectivity. The growth of the market is also acknowledged to the increase in the utilization of data centers and virtualization, increasing the adoption of network management services by large enterprises, IP video.
In the global network management market, Asia-Pacific is expected to experience a higher CAGR during the forecast period as compared to the other regions due to an increase in the integration of artificial intelligence across the various nations across the region.
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- Technology Investors
- Research/Consultancy firms
- Government Bodies
- Network Management solution vendors
- Network Management platform providers
- Information Technology (IT) developers
- Third-party vendors
- Consulting service providers
- Telecom operators
- Internet service providers
- Technology providers
- System integrators
- Cloud service providers
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