Network Management System Market Expected to Reach $16.52 billion by 2028

Overview and Scope
A network management system (NMS) refers to a set of applications that allow network engineers to manage a network’s independent components inside a bigger network management framework and perform several key functions. A network management system oversees all business operations from a single computer. The network management system is used by organizations to manage every aspect of the office, such as device monitoring and management and performance analysis. It provides intelligent notifications and alerts, which save time and money and help increase productivity.

Sizing and Forecast
The network management system market size has grown strongly in recent years. It will grow from $10.57 billion in 2023 to $11.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%.  The growth in the historic period can be attributed to early network complexity, Internet expansion, transition to IP-based networks focus on security, remote work acceleration.

The network management system market size is expected to see strong growth in the next few years. It will grow to $16.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.  The growth in the forecast period can be attributed to 5G implementation IoT proliferation increased emphasis on automation cybersecurity integration. Major trends in the forecast period include rise of intent-based networking (IBN), shift towards cloud-based network management, integration of artificial intelligence (AI) and machine learning (ML), adoption of software-defined networking (SDN) and network function virtualization (NFV).

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Segmentation & Regional Insights

The network management system market covered in this report is segmented –

1) By Component: Platform, Solutions, Services

2) By Organization: Large Enterprises, Small and Medium Enterprises

3) By Deployment: On-Premise, Cloud

4) By End-User: Banking, Financial Services, And Insurance, Information Technology And Telecom, Healthcare, Media And Communication, Retail, Other End-Users

North America was the largest region in the network management system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Increasing demand for cloud-based services is significantly contributing to the growth of the network management system market going forward. Cloud refers to servers that are provided over the Internet and the software and databases that run on those servers. The network operators can get new network management services dynamically using cloud solutions rather than installing new hardware. For instance, according to the 2022 State of the Cloud Report by Flexera, a US-based software company that surveyed 753 technical professionals, overall small to midsized businesses’ (SMBs’) cloud spend had grown substantially to 53%, reaching $1.2 million in annual spend in 2022, which was up from 38% in 2021. Therefore, the increasing demand for cloud-based services is driving the network management system market growth.

Key Industry Players
Major companies operating in the network management system market report are Deutsche Telekom AG, Huawei Technologies Co Ltd., Hewlett Packard Enterprise Development LP, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Ericsson AB, Nokia Corporation, Telstra Corporation Limited, Telia Company AB, Juniper Networks Inc., Colt Technology Services Group Limited, Micro Focus International plc, BMC Software Inc., Alcatel-Lucent Enterprise S.A., Viavi Solutions Inc., Extreme Networks Inc., Zoho Corporation Pvt Ltd., NETSCOUT Systems Inc., SolarWinds Inc., Progress Software Corporation, Kaseya VSA LLC, Paessler AG, LiveAction Inc., eG Innovations Inc., Colasoft Technology Co Ltd., Cubro Network Visibility, Kentik Inc.

The network management system market report table of contents includes:
1. Executive Summary
2. Network Management System Market Characteristics
3. Network Management System Market Trends And Strategies
4. Network Management System Market – Macro Economic Scenario
5. Global Network Management System Market Size and Growth
……………………………
32. Global Network Management System Market Competitive Benchmarking
33. Global Network Management System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Network Management System Market
35. Network Management System Market Future Outlook and Potential Analysis
36. Appendix

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