The Network Monitoring Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Network Monitoring Global Market Report 2024, The network monitoring market size has grown strongly in recent years. It will grow from $2.68 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to rise in complexity of network environments, growing cybersecurity concerns, increased emphasis on performance optimization, compliance and regulatory requirements, expanding scale of IT infrastructure.
The network monitoring market size is expected to see strong growth in the next few years. It will grow to $4.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rise in cloud-based network deployments, growing importance of application performance monitoring (APM), integration with artificial intelligence (AI) and machine learning (ML), emergence of edge computing networks, focus on network automation and orchestration. Major trends in the forecast period include hybrid and multi-cloud network monitoring solutions, focus on end-user experience monitoring, collaboration with network security solutions, integration of 5G network monitoring capabilities, compliance with data privacy regulations.
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. For instance, in September 2021, according to the 2021 State of SaaSOps Report shared by BetterCloud, a US-based independent software vendor, the uptake of SaaS continued unabated. Organizations utilized 110 apps on average in 2021, up from 80 apps on average the previous year, a 38% rise. SaaS app consumption has increased by over seven times since 2017 and nearly 14 times since 2015. Therefore, the rising popularity of SaaS-based network monitoring solutions is driving the demand for the network monitoring market.
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The network monitoring market covered in this report 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
Major companies operating in the network monitoring market are developing innovative products such as remote network monitoring (RMON), which is a method of monitoring network traffic on a remote Ethernet transport to identify and resolve network issues. It helps network administrators monitor and analyze data collected from local area networks (LANs), T-1/E-1 lines, and other network components, providing real-time information on network performance and potential problems. For instance, in February 2023, Tech Mahindra launched SANDSTORM, a remote network monitoring and smart device assurance service for telcos and enterprises. SANDSTORM is a comprehensive and innovative solution that allows service providers to remotely measure customer experiences on any device, from smartphones to connected cars, and provides real-time network monitoring, device assurance, and an automation platform to test and deploy applications.
The network monitoring market report table of contents includes:
1. Executive Summary
2. Network Monitoring Market Characteristics
3. Network Monitoring Market Trends And Strategies
4. Network Monitoring Market – Macro Economic Scenario
…
32. Global Network Monitoring Market Competitive Benchmarking
33. Global Network Monitoring Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Network Monitoring Market
35. Network Monitoring Market Future Outlook and Potential Analysis
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