Network Monitoring Market Size, Share & Growth Report | 2031

Report Description

The global network monitoring market size was valued at USD 2.24 Billion in 2022 and is likely to reach USD 4.08 Billion by 2031, expanding at a CAGR of 6.9% during the forecast period 2023–2031. The growth of the market is attributed to the surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring.

In order to offer optimal performance for the business, network monitoring assists the administration in managing the networks' configuration, traffic, application performance, uptime, bandwidth consumption, server performance, and other network-related processes. Network monitoring employ a variety of data gathering methods, including Simple Network Management Protocol (SNMP), Syslog, scripts, and others, to evaluate the functioning of networks. According to the company operations, downtime incurs significant costs for an organization that can be reduced using network monitoring tools, which is anticipated to propel the market for network monitoring tools throughout the projected period. The market for network monitoring tools is expected to expand in the upcoming years as a result of growing IT infrastructure complexity and worries about security threats in a variety of industries, including business, energy & utilities, healthcare & medical, and others.

Get Free Sample Report

The global spread of COVID-19 has caused both industrialized and emerging economies to experience economic stagnation. Many governments implemented rigid rules including preserving social distance, restricting entry to public spaces, and banning remote work for the public and private sectors. Global market prospects for network monitoring tools have been established by user demand for high-speed connectivity and growing data reliance as a result of online activities at home and at work. Major companies are spending in R&D to provide high-end solutions in response to the need for unbroken connection from various end-user sectors, which is anticipated to accelerate the market expansion for network monitoring tools.

Market Trends, Drivers, Restraints, and Opportunities

• Rising demand for real time network monitoring from end-user industries such as healthcare, BFSI, and automotive and IT is expected to drive the market.

• Increasing telecommunication industry and rising dependency on high-speed connectivity for data management, work management and information free flow the network monitoring tools is projected to propel the market during the forecast period.

• Availability of free network monitoring tools is anticipated to hinder the market.

• High cost associated with network monitoring is expected to hamper the market in the coming years.

• Proliferation of Internet of Things and Bring Your Own Device phenomenon is projected to create lucrative opportunities for market players. 

Scope of Network Monitoring Market Report

The report on the global network monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Network Monitoring Market Segment Insights

Infiniband segment to expand at a considerable CAGR

On the basis of technology, the network monitoring market is segmented into fiber optic, ethernet, and Infiniband. The Infiniband segment is projected to expand at a considerable CAGR during the forecast period. InfiniBand-based network monitoring equipment is employed to lower networking equipment prices and satisfy the demands for high bandwidth, low latency computation, storage, and administration via a single fabric. InfiniBand tackles issues with IT infrastructure by offering customers improved performance, decreased complexity, the best interconnect efficiency, and dependable and stable connections. Excellent goods and performance with low latency are provided by InfiniBand, which supports connections of up to 120 Gbps. It was developed to support the effective scalability of several systems.

Get Free Sample Report

40 Gbps segment to hold a significant share of the market

Based on bandwidth, the market is divided into 1&10 Gbps, 40 Gbps, and 100 Gbps. The 40 Gbps segment is expected to hold a significant share of the market in the coming years. Core network installations and data centers are using monitoring hardware with 40 Gbps capacity.  The demand for more bandwidth is being driven by the rising demand for servers and virtualization technologies, as well as the developing data center sector. These network monitoring devices offer affordable switching options and are optimized. Additionally, this drastically lowers the needed number of switches on the same network.

Software & Services segment to expand at a substantial CAGR

On the basis of offerings, the network monitoring market is segregated into software & services and equipment. The software & services segment is anticipated to expand at a substantial CAGR during the forecast period. Traditional network management is projected to be redefined by cross-domain management operations, the Software as a Service (SaaS)-based network management industry, and performance service level agreements in cloud monitoring. In addition, it is anticipated that expanding virtualization use, convergent technologies, and network complexity would alter network management technologies, tools, and practices.

Get Free Sample Report

North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, owing to the increasing IT capacity requirements and rising adoption of new data center technologies in the region. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Network monitoring firms are growing their presence in Asia Pacific where China, Japan, and India are anticipated to be the key nations driving the growth of the network monitoring market.

Get Free Sample Report