Network Monitoring Market worth around $7 Bn by 2027; Global Market Insights Inc.

The managed network monitoring market is poised to register 15% gains between 2021 and 2027 on account of the growing demand for cloud computing technology to make network infrastructure more reliable and secure.

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Selbyville, Delaware, Jan. 11, 2022 (GLOBE NEWSWIRE) --

The network monitoring market size is anticipated to record a valuation of USD 7 billion by 2027, according to the most recent study by Global Market Insights Inc. The growing demand for continuous network monitoring due to increasing network complexities is proliferating the market growth.

The growing popularity of SaaS-based network monitoring solutions is driving the market growth. SaaS-based network monitoring solutions provide comprehensive remote monitoring and can monitor all the IP devices within the IT network infrastructure. They offer several benefits such as monitor & deliver a consistently high level of services, manage distributed architecture, discover all the aspects of the network infrastructure. Moreover, the growing adoption of IoT and BYOD devices is creating ample growth opportunities.

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The managed segment is anticipated to grow at a CAGR of over 15% from 2021 to 2027 due to the growing demand for cloud computing technology. Business enterprises are extensively using managed cloud computing services in order to make network infrastructure more reliable and secure. Managed network monitoring services ensure that firewalls, switches, apps, and other IT assets are secure and working as intended.

The SMEs segment is expected to witness a market share of over 30% by 2027. SMEs are increasingly adopting network monitoring solutions for monitoring network and business infrastructure. Network monitoring solutions provide several benefits to organizations such as threat vulnerability management, improve network security, and application security. SMEs are increasingly focusing on the adoption of cloud-based network monitoring solutions due to their cost effectiveness and budget friendliness.

The 100gbps segment is anticipated to grow at a CAGR of over 25% from 2021 to 2027 due to the growing demand for high-speed internet connectivity. The growing demand for high performance and interactive applications that are sensitive to latency, telemedicine, and trading always demand for high-speed network connections. Moreover, the growing adoption of advanced technologies, such as AI, ML, and IoT-based business platform, has increased the demand for strong network connectivity.

The healthcare segment held a significant market share led by growing technological development across the sector. The adoption of network monitoring solutions will help the healthcare organizations to analyze the suspicious network event, remotely monitor patients, and offer accurate medical records. IoMT technology monitors the medical devices and ensures that they are working properly. For instance, in June 2021, Max Healthcare partnered with MyHealthcare to launch an AI-powered remote patient monitoring network Max MyHealth+. It has integrated blood pressure, monitors, ECG, and heart rate devices.

The Europe network performance monitoring market growth is attributed to the increasing internet penetration, commercialization of 5G network, and the growing adoption of IoT devices. For instance, according to the statistics from the European Union, in 2019, the Netherlands had an extensive internet penetration of 98%, exceeding the European average of 87%. This is expected to result in network traffic and outage issues. Thus, the companies operating in the region are deploying advanced network monitoring solutions.

The companies operating in the market are focusing on acquiring the firms in order to expand their network monitoring capabilities. For instance, in November 2020, Splunk acquired Flowmill for accelerating its network monitoring and DevOps capabilities. Through this acquisition, Splunk has added Flowmill’s network performance monitoring technology to its Observability Suite for strengthening its IT monitoring and DevOps offerings.

Some major findings of the network monitoring market report include:

  • The growing integration of threat detection systems with network and security operation tools.

  • Large organizations are extensively investing in new and advanced network security technologies, which is anticipated to support the market growth.

  • The Europe network monitoring market is propelled by development of smart cities across the region. The growing adoption of cloud computing technology is expected to increase the market demand for network monitoring solutions in the region.

  • Major industry players are NETSCOUT systems, Inc., Riverbed Technology, Viavi Solutions Inc., and Broadcom.

  • The companies operating in the market are actively investing in R&D activities for developing more advanced network monitoring solutions.

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Partial chapters of report table of contents (TOC):

Chapter 3   Network Performance Monitoring Industry Insights

3.1    Introduction

3.2    Industry segmentation

3.3    COVID-19 impact

3.3.1    Impact by region

3.3.1.1    North America

3.3.1.2    Europe

3.3.1.3    Asia Pacific

3.3.1.4    Latin America

3.3.1.5    Middle East & Africa

3.3.2    Impact by value chain

3.3.3    Impact by competitive landscape

3.4    Evolution of network monitoring

3.5    Network monitoring industry architecture

3.6    Network monitoring industry ecosystem analysis

3.6.1    Network monitoring tools providers

3.6.2    Cloud service providers

3.6.3    Marketing and distribution

3.6.4    End-users

3.7    Technology & innovation landscape

3.7.1    Patchwork management

3.7.2    Convergence of NetOps and IT security

3.7.3    Network management system APIs and packet inspection

3.8    Regulatory landscape

3.8.1    Global

3.8.1.1    The ISA/IEC 62443 standard

3.8.2    North America

3.8.2.1    NIST Special Publication 800-53 - Guidelines on Security and Privacy Controls for Federal Information Systems and Organizations (U

3.8.2.2    California Online Privacy Protection Act (CalOPPA – U

3.8.2.3    Critical Infrastructure Protection Mandates, NERC (North America)

3.8.3    Europe

3.8.3.1    General Data Protection Regulation (EU)

3.8.3.2    Network and Information System (NIS) Regulation (UK)

3.8.3.3    The Security of Network and Information Services Directive (EU)

3.8.4    APAC

3.8.4.1    Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)

3.8.4.2    Secure India National Digital Communications Policy 2018 – Draft (India)

3.8.5    Latin America

3.8.5.1    National Directorate of Personal Data Protection (Argentina)

3.8.5.2    The Brazilian General Data Protection Law (LGPD)

3.8.6    MEA

3.8.6.1    Law No 13 of 2016 on protecting personal data (Qatar)

3.8.6.2    Federal Law No 2 of 2019 on the use of ICT in Healthcare (UAE)

3.9    Industry impact forces

3.9.1    Growth drivers

3.9.1.1    Growth in the adoption of IoT and BYOD devices

3.9.1.2    Rising popularity of SaaS-based network monitoring solutions

3.9.1.3    Demand for continuous network monitoring due to rise in network complexities and security concerns

3.9.1.4    Increasing network stress due to exponential rise in cloud traffic

3.9.1.5    Surging demand for resilient network monitoring systems to quickly resolve downtime issues

3.9.2    Industry pitfalls & challenges

3.9.2.1    High initial investments

3.9.2.2    Availability of free network monitoring tools

3.9.2.3    Compatibility issues due to prevalence of legacy systems

3.10    Growth potential analysis

3.11    Porter’s analysis

3.11.1    Threat of new entrant

3.11.2    Bargaining power of supplier

3.11.3    Bargaining power of buyer

3.11.4    Threat of substitution

3.12    PESTEL analysis

3.12.1    Political

3.12.2    Economical

3.12.3    Social

3.12.4    Technological

3.12.5    Legal

3.12.6    Environmental

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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