Categories: Industry

Global Driver Monitoring System Market Size, Share 2032

The Network Monitoring Global Market Report 2023 by The Business Research Company, provides network monitoring market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Network Monitoring Global Market Report 2023, the global network monitoring market size is expected to grow from $2.46 billion in 2022 to $2.68 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global network monitoring market size is expected to grow to $3.77 billion in 2027 at a CAGR of 8.9%.

The rising popularity of SaaS-based network monitoring solutions is expected to propel the growth of the network monitoring market going forward. Software as a service is a method of software distribution where a cloud provider hosts programs and makes them accessible to customers online. SaaS network monitoring enhances visibility, awareness, and the capacity to handle issues without relying on a service provider’s help desk by providing real-time data directly from the user’s browser. Network monitoring is a cloud-based SaaS infrastructure monitoring service that refers to the gathering, storage, and analysis of network performance monitoring data in a SaaS repository as opposed to conventional physical or virtual appliances.

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The network monitoring market is segmented:

1) By Offering: Equipment, Network TAPs, Data Monitoring Switches, Solutions and Services

2) By Bandwidth: 1 and 10 Gbps, 40 Gbps, 100 Gbps

3) By Enterprise Size: Large Enterprise, SMEs

4) By Applications: IT and Telecom, BFSI, Healthcare, Energy and Utilities, Government, Retail, Industrial, Other Applications

Technological advancements have emerged as a key trend gaining popularity in the network monitoring market going forward. Major companies operating in the network monitoring market are focused on developing new technological solutions to strengthen their position in the market. For instance, in July 2021, Netscout, a US-based provider of cybersecurity, service assurance, and business analytics solutions, launched nGeniusONE, a smart edge network monitoring platform for end-user insights. With complete visibility into infrastructure, dependencies, and applications, nGeniusONE provides a platform for monitoring and service assurance. Network traffic data may be continuously monitored and analyzed with the help of the instrument, which makes use of adaptive service intelligence technology. The new approach blends artificial transaction testing with smart data analytics to provide end-user support and visibility. Any network or application, regardless of the user’s location, can receive this information from Netscout.

The network monitoring market report table of contents includes: