The Global Network Monitoring Market Is Estimated To Grow To USD 3.76 Billion With a CAGR Of 9.50 Percent By 2027.
The Global Network Monitoring Market was valued at USD 2.18 billion in 2021 and is expected to grow at a CAGR of 9.50 percent to USD 3.76 billion by 2027.
The demand for higher network availability and better business-critical network performance is expected to drive market growth. As new network architectures have emerged and networking technology has continued to advance, networks have become more complicated and challenging to administer. The demand for sophisticated network monitoring solutions has increased as a result of rising technical complexity, such as length of routing table configurations, firewall administration, and rules & exception policies.
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Global Network Monitoring Market Dynamics:
The market growth is accelerated by the spike in digital transformation across several sectors. The market benefits from the growing demand for these services in e-government efforts, media and entertainment content, healthcare record digitization, online retail sales of goods and services, and media and entertainment content.
The industry is also influenced by rising Internet usage, as well as easier access to media and online video. The availability of well-designed voice and data bundles, as well as alluring buying incentives, contribute to the market’s growth. Additionally, the market for network monitoring is favorably impacted by rising urbanization lifestyle changes, an increase in expenditures, and higher consumer spending.
The increased demand from small and medium-sized businesses and company activities using network management tools also provide lucrative prospects to market participants in the projection period of 2021 to 2027. Additionally, the market will grow as the sector for software-defined networking grows.
Global Network Monitoring Market Insights:
In 2021, Ethernet had the biggest market share, and it is anticipated that it would continue to have a commanding position throughout the projection period. The need for network monitoring equipment with larger bandwidths is increased by the growth of data centers and the increased use of virtualization technologies.
Ethernet-based networks offer more scalable, low-latency, and flexible solutions. With Ethernet technology, switching from low bandwidth to high bandwidth is not only feasible but also disruption-free. As a result, many sectors use it extensively for data transport, which in turn fuels the expansion of Ethernet-based networking hardware.
Global Network Monitoring Market Regional Insights:
The expanding use of the Internet of Things (IoT) for industrial applications in several nations, including China, Japan, and India, is expected to drive the Asia Pacific Global Network Monitoring Market size to earn close to USD 1 billion in revenue in 2027. Additionally, as more people want to work from home, telecom and network service providers are able to implement reliable network management solutions. The market demand for network performance monitoring solutions is also expected to rise as a result of this trend. Furthermore, the need for advanced network monitoring systems is being increased by the increase of IoT-focused cyber-attacks throughout India in several industrial verticals.
Throughout the forecast period, Europe is expected to have a sizably substantial share of the Global Network Monitoring Market. The UK, Germany, France, and Italy are among the countries that make up a sizable percentage of the European market for network monitoring. Due to their extensive network infrastructure, the UK and Italy are the market leaders in network monitoring.
Global Network Monitoring Market Segmentation:
• Solutions & Services
• 1 & 10 Gbps
• 40 Gbps
• 100 Gbps
• Fiber Optic
• Telecommunications Industry
• Government Organizations
• Cloud Service Providers
• North America
• Asia Pacific
• South America
• Middle East and Africa
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Key Players in Global Network Monitoring Market:
• Garland Technology
• Juniper Networks, Inc.
• Big Switch Networks
• Network Critical
• Keysight Technologies
• Riverbed Technology
• Arista Networks, Inc.
• Pico Quantitative Trading LLC
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The Global Network Monitoring Market have been extensively researched by Maximize Market Research, a global market research business with a committed team of specialists and data. Maximize Market Research is well-positioned to estimate and forecast market size while taking the competitive landscape of the sectors into consideration. Maximize Market Research has a strong unified team of industry professionals and analysts across sectors to ensure that the entire Industry ecosystem is taken into account, taking into account all current developments, new trends, and futuristic – the technology influence of uniquely specific industries. The company’s method is carefully tailored to the study’s scope and aim, which has been agreed upon.
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