Network Management System Market Size, Share Analysis and Forecast To 2028
The elevating demand for enhanced optimization of business operations, the need for maintaining Qos and Qoe, and exceptional growth in Cloud traffic & Global Ip Traffic are some of the factors boosting the Network Management System (NMS) market.
Market Size – USD 9.21 Billion in 2021, Market Growth
- CAGR of 9.1%, Market Trends –Development of Sdn.
The global Network
Management System market is forecast to reach USD 19.97 Billion by
2030, according to a new report by Reports and Data. Network Management system
can be defined as the management process of fault and performance of a network
with the help of different technologies and tools. With the help of this
process, organizations can keep up with the requirements of their business.
There are various advantages associated with the system, which are propelling
the growth of the market. One of the mentionable advantage is it saves money as
it requires only one system admin at one location to manage and monitor the
network that helps in reducing expenditures. It is also helpful in enhancing
productivity as it helps in managing every aspect of an organization's network,
like hardware, software, and peripherals. It contributes to quick
identification of an issue that helps in ensuring the prevention of data loss
or productivity slow down. In regards to region, Europe can be seen to occupy a
prominent market position. The market position held by the region is resultant
of continuous development of the IoT devices & systems, expansion of the
healthcare sector, and formulation of data protection legislations like Data
Protection Act 2020 [UK].
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Further key findings from the report suggest
- The Network Management System market held a market share of USD
8,587.1 Million in the year 2020 and forecasted to grow at a rate of 9.1%
during the forecast period.
- In regards to Component, the Solution segment generated the highest
revenue of USD 5.23 Billion in 2020, with a growth rate of 8.0% during the
forecast period. The revenue generated by the Solution segment is
resultant of increasing concern about data security and associated
elevated demand & deployment of the system in maintaining and
monitoring communication infrastructure.
- In the context of Organization size, the Large Enterprises segment
yielded a higher revenue of USD 4.72 Billion in 2020, with a CAGR of 7.9%
during the forecast period. The high emphasis and need for cloud
monitoring systems in the operation of these enterprises due to the
elevated requirement for maintaining data protection contributes to the
revenue generated by this segment.
- In the context of Deployment Type, the On-Premises segment held a
larger market share of 70.0% in 2020, with a growth rate of 7.7% during
the forecast period. Advantages associated with on-premises NMS like scope
of configuring solutions as per the requirement, control on data security,
performance reliability, and minimal risk of maintenance outages or
connectivity issues have resulted in its increased preference over
cloud-based deployment among the end-users, which contributes to the
segment's occupied market share.
- In regards to the End-user, the IT & Telecom segment held the
largest market share of 28.0% in 2020, with a growth rate of 8.2% during
the forecast period. The fact that NMS solutions help the IT & Telecom
industry in enhancing the network infrastructure, along with resolving the
risks related to downtime, results in high deployment of the solution in
the functioning of this industry, contributing to the market share held by
the segment.
- In context to region, Asia Pacific is projected to witness the
fastest growth rate of 9.6% during the forecast period, which is expected
to occupy 24.1% of the market by 2028. The growth rate experienced by the
region is attributed to its digital transformation, well-developed cloud
infrastructure, and government initiatives like Digital India.
- Key participants include IBM Corporation, SolarWinds Inc., Riverbed
Technologies, Inc., Broadcom, Inc. (CA Technology), BMC Software, Inc.,
Cisco Systems, Inc., Nokia Corporation, BMC Software, Inc., Oracle
Corporation and NetScout Systems, Inc.
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Summary
For the purpose of this report, Reports and Data have
segmented the Global Network Management System market based on Component,
Organization Size, Deployment Type, End-user, and region:
Component Type Outlook (Revenue, USD Billion;
2019–2030)
- Platform
- Solutions
- Services
Deployment Type Outlook (Revenue, USD Billion;
2019–2030)
- On-Premises
- Cloud
Organization Size Outlook (Revenue, USD Billion;
2019–2030)
- Large Enterprises
- Small and Medium Enterprises (SMEs)
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Banking, Financial Services, and Insurance (BFSI)
- Information Technology (IT) and Telecom
- Healthcare
- Media & Communication
- Retail
- Others
Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Key Questions Answered in
the Report:
·
Who
are the prominent distributors, vendors, and manufacturers of the market?
·
What
are the driving and restraining factors of the growth of Network Management
System market throughout the forecast period?
·
What
are the current and future market trends of the Network Management System market?
·
What
are the expected opportunities for the companies and new entrants in the coming
years?
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