The global network performance monitoring market size was valued at around USD 2200 million in 2021 and is projected to reach around USD 5187.5 million by 2030, expanding at a CAGR of 10% during the forecast period, 2022–2030. The growth of the market is attributed to adoption of complex IT structures and rising issues affecting network performance.
Network performance monitoring refers to the process of determining the quality of service of a network. Network performance monitoring is the process of gathering, measuring, and diagnosing the metrics of each network component while observing and reviewing. In the event of data theft or failure, it delivers information or notice to the network administrator. Large volumes of data are constantly monitored by these systems, which helps in filtering the data. Different forms of telemetry, such as device measurements and network traffic data, are used by network performance monitoring software.
The COVID-19 pandemic negatively affected businesses across the globe. The ongoing crisis increased the demand for network infrastructure and network monitoring, as remote working was adopted by several enterprises. Network monitoring increased infrastructure and security risks for internet providers and telecommunication. Supply chain was negatively affected along with delivery of network equipment and manufacturing.
Market Trends, Drivers, Restraints, and Opportunities
- Rising need for robust network monitoring and interrupted services are expected to drive the market.
- Increasing demand for security concerns about data and stringent regulations set by authorities are projected to propel the market during the forecast period.
- Availability of free network traffic tools are anticipated to hinder the market.
- Handling massive network performance data is expected to hamper the market in the coming years.
- Rising adoption of IoT technology is projected to create lucrative opportunities for market players.
Scope of the Report
The report on the global network performance monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Network Performance Monitoring Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Components (Services, Software, and Hardware), and End-users (Telecommunication Industry, Cloud Service Providers, Government Organizations, and Enterprises)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Microsoft Corporation; Paessler AG; Nagios Enterprises, LLC; ManageEngine; LogicMonitor; Cubro Network Visibility; Xena Networks; Gigamon; NETSCOUT Systems, Inc; SolarWinds Worldwide, LLC; Niagara Networks; Ixia; Profitap HQ B.V; Cisco Systems, Inc; and Juniper Networks
Market Segment Insights
Services segment to expand at a considerable CAGR
On the basis of components, the network performance monitoring market is segmented into services, software, and hardware. The services segment is projected to expand at a considerable CAGR during the forecast period, due to increasing demand for network performance monitoring services. The software segment is anticipated to account for a major market share during the forecast period, owing to growing software-defined networking market.
Telecommunication segment to hold a significant share of the market
Based on end-users, the market is divided into telecommunication industry, cloud service providers, government organizations, and enterprises. The telecommunication segment is expected to hold a significant share of the market in the coming years, due to increasing demand for resolving downtime issues. The enterprises segment accounts for a significant market share, due to increasing number of enterprises with strict reliability requirements.
North America is anticipated to constitute a key market share
In terms of regions, the network performance monitoring 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 increasing demand for advanced technologies including AI, ML, IoT, and predictive analytics in the region. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to rising network performance issues in enterprises in the region and the corresponding high demand for network performance monitoring solutions.
The global network performance monitoring market has been segmented on the basis of
- Telecommunication Industry
- Cloud Service Providers
- Government Organizations
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Microsoft Corporation
- Paessler AG
- Nagios Enterprises, LLC
- Cubro Network Visibility
- Xena Networks
- NETSCOUT Systems, Inc
- SolarWinds Worldwide, LLC
- Niagara Networks
- Profitap HQ B.V
- Cisco Systems, Inc
- Juniper Networks
Key players competing in the global network performance monitoring market are Microsoft Corporation; Paessler AG; Nagios Enterprises, LLC; ManageEngine; LogicMonitor; Cubro Network Visibility; Xena Networks; Gigamon; NETSCOUT Systems, Inc; SolarWinds Worldwide, LLC; Niagara Networks; Ixia; Profitap HQ B.V; Cisco Systems, Inc; and Juniper Networks.
Companies that provide network performance monitoring solutions are focusing on product innovation and strategic alliances with other manufacturers to increase their production capacity and meet the demands of a growing client base. In December 2020, Amazon is expected to introduce new network performance measurements for EC2 instances. It is anticipated to add new network performance indicators to assist clients in understanding the performance of their instance networks.
SolarWinds Worldwide, LLC updated Network Performance Monitor in June 2020 with new features, upgrades, and bug fixes. It contains information about updates as well as solutions for recognised problems.