Network Monitoring Technology Market Size to Hit USD 3.72 Billion by 2030 Driven by Rising Concerns Regarding Network Security | Research by SNS Insider
The Network Monitoring Technology Market, as per the SNS Insider report, achieved a size of USD 2.15 billion in 2022. It is projected to reach USD 3.72 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.12% during the forecast period from 2023 to 2030.
Pune, Jan. 23, 2024 (GLOBE NEWSWIRE) — Based on SNS Insider’s research, the Network Monitoring Technology Market is propelled by a confluence of factors, ranging from the need for enhanced network performance to the imperative of ensuring robust cybersecurity.
Network monitoring technology refers to the systematic process of observing, analyzing, and managing the performance and integrity of a computer network. The primary goal is to ensure the smooth functioning of the network infrastructure, promptly identify potential issues, and implement preventive measures to minimize downtime. This technology encompasses a range of tools, protocols, and methodologies designed to monitor various aspects of network functionality. Network monitoring tools often generate comprehensive reports, ensuring compliance with regulatory standards and providing valuable insights for strategic decision-making. By analyzing historical data, network administrators can anticipate future resource requirements, enabling effective capacity planning and resource allocation.
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One of the primary drivers fostering the growth of the network monitoring technology market is the escalating demand for enhanced network performance. As businesses strive for operational excellence, the need for real-time insights into network activities becomes paramount. Network monitoring technology offers a comprehensive solution by providing organizations with the ability to identify and address performance bottlenecks promptly, minimizing downtime and optimizing overall network efficiency. With the proliferation of cloud computing, IoT devices, and edge computing, network infrastructures have become increasingly intricate. This complexity poses a challenge in terms of monitoring, management, and troubleshooting. Network monitoring technology addresses this challenge by offering centralized visibility and control over diverse network elements. The integration of artificial intelligence (AI) and machine learning (ML) technologies has ushered in a new era in network monitoring.
Major Players Listed in this Report are:
- Viavi Solutions Inc
- Juniper Networks, Inc.
- Broadcom Inc.
- Cisco Systems, Inc.
- Garland Technology
- NETSCOUT Systems, Inc. & Other Players
Network Monitoring Technology Market Report Scope:
|Market Size in 2022
|US$ 2.15 Billion
|Market Size by 2030
|US$ 3.72 Billion
|CAGR of 7.12% From 2023 to 2030
|Key Regional Coverage
|North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Network Monitoring Technology Market Trends & Industry Insights
The Network Monitoring Technology market is going through a significant transformation, propelled by the constant evolution of technology and the increasing intricacy of contemporary networks. With the widespread adoption of cloud computing, edge computing, and the Internet of Things (IoT), there’s a surging demand for cutting-edge network monitoring solutions. The latest industry insights highlight the pivotal role of real-time visibility, predictive analytics, and automation in empowering organizations to proactively identify and address potential issues before they impact performance. The integration of artificial intelligence and machine learning is reshaping how infrastructure is managed, facilitating more intelligent decision-making and enhancing overall network efficiency. Additionally, cybersecurity considerations are shaping the market landscape, prompting a heightened focus on incorporating robust security measures into monitoring solutions to counter evolving threats. The future trajectory of the Network Monitoring Technology market promises a dynamic environment, where innovation and adaptability will be essential for businesses to stay competitive in this swiftly changing digital landscape.
Key Takeaway from Network Monitoring Technology Market Study
- Ethernet, a foundational technology in computer networking, has evolved into a linchpin of modern communication infrastructures. With its inherent scalability and reliability, Ethernet has become the backbone for data transfer in diverse industries. The network monitoring technology market witnesses a surge in demand for solutions tailored to optimize Ethernet-based networks.
- Enterprises, constituting a pivotal force in the global economy, drive the demand for sophisticated network monitoring technologies. As organizations embrace digital transformation, the complexity and scale of their networks increase exponentially. Consequently, there is a growing need for comprehensive monitoring solutions tailored to the unique challenges faced by enterprises.
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- Badger Meter, a leading global provider of flow measurement and control solutions, has successfully acquired Trimble, a prominent player in network monitoring technologies. This acquisition marks a significant step forward for Badger Meter as it seeks to broaden its portfolio and strengthen its position in the market.
- Cisco, a global leader in networking technologies, has recently announced its intention to acquire SamKnows, a London-based broadband network monitoring firm. The decision to acquire SamKnows aligns with Cisco’s vision for the future of networking, emphasizing the importance of reliable and high-performance broadband services.
Network Monitoring Technology Market Dynamics Analysis
The dynamics of the network monitoring technology market are intricately shaped by a multitude of factors, with a delicate balance between drivers, restraints, challenges, and threats. The ever-evolving landscape of technological advancements serves as a primary driver propelling the market forward. The increasing complexity and scale of networks, fueled by the rapid adoption of cloud computing, Internet of Things (IoT), and 5G technologies, create a demand for sophisticated monitoring solutions. Additionally, the growing awareness among enterprises regarding the critical role of network monitoring in ensuring optimal performance and security contributes to the market’s positive momentum.
However, this surge is not without its set of challenges. One prominent restraint for network monitoring technology market is the escalating complexity of network infrastructures, which makes it challenging to develop comprehensive monitoring solutions that cater to diverse environments seamlessly. Integration issues with existing systems and the need for skilled professionals proficient in handling advanced monitoring tools further compound this challenge. Cybersecurity threats represent a significant and ever-present danger, acting as both a driver and a threat. On one hand, the escalating frequency and sophistication of cyberattacks drive the demand for robust monitoring solutions, but on the other hand, the constant evolution of cyber threats poses a challenge for developers to stay one step ahead.
Network Monitoring Technology Market Segmentation
- Network TAPs
- Data Monitoring Switches
- Software & Services
- 1 To 10 Gbps
- 40 Gbps
- 100 Gbps
- Fiber Optic
By End User
- Telecommunications Industry
- Government Organizations
- Cloud Service Providers
Key Regional Developments
North America stands as a frontrunner in the adoption of advanced network monitoring solutions. The region’s dominance can be attributed to the presence of tech giants, widespread digitalization, and a strong emphasis on cybersecurity. The European network monitoring technology market reflects a similar trend, with a focus on data protection and compliance driving the adoption of sophisticated monitoring solutions. The General Data Protection Regulation (GDPR) has compelled businesses across the continent to enhance their network security measures. The Asia-Pacific region is experiencing rapid economic growth and digital transformation, leading to a surge in the demand for network monitoring technologies. Countries like China, India, and Japan are witnessing substantial investments in IT infrastructure, prompting organizations to deploy advanced monitoring solutions for network optimization and security.
Impact of Recession
The network monitoring technology market, which plays a crucial role in ensuring the efficiency and security of digital networks, is not immune to the economic downturn. As organizations tighten their budgets and prioritize essential expenditures, investments in network monitoring solutions have witnessed a slowdown. The reduced spending capacity of businesses across different sectors has led to a more cautious approach to adopting new technologies, impacting the growth of the network monitoring market. With the surge in remote work, organizations are facing new challenges in monitoring and securing decentralized networks. This has created a demand for adaptive network monitoring solutions that can address the unique needs of remote work environments.
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Table of Contents – Major Key Points
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Network Monitoring Technology Market Segmentation, by Offering
9. Network Monitoring Technology Market Segmentation, by Bandwidth
10. Network Monitoring Technology Market Segmentation, by Technology
11. Network Monitoring Technology Market Segmentation, by End-User
12. Regional Analysis
13. Company profile
14. Competitive Landscape
15. USE Cases and Best Practices
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