Network Monitoring Market 2032: Top Vendors Analysis, Growth Drivers and Geographical Analysis

As per a recent research report, Network Monitoring Market to surpass USD 12 Bn by 2032.

Network Monitoring Market is set to witness massive growth between 2023 and 2032, primarily owing to the gradual shift of the companies toward cloud-based solutions. Reliable estimates suggest that more than 90% of organizations worldwide make use of cloud computing.

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In addition, the key market players are also attempting to further strengthen their presence in the industry by engaging in R&D initiatives and expanding their operational areas. For instance, in December 2022, BT's subsidiary Openreach announced boosting the broadband traffic with 229PB data. BT also declared establishing a strategic partnership with Nokia to deploy its AVA analytics software. This move would enable BT clients to experience seamless network connectivity.

To cite another instance, in December 2022, the onboard (OT) data and cybersecurity firm, Shift5 announced opening a new office in Virginia. With this new location, the firm plans to expand its office footprint by almost 67%, while supporting the expansion of tech community in the DC Metro region.

Overall, the network monitoring market has been segmented in terms of component, monitoring equipment, service, enterprise size, network speed, application, and region.

Based on the component, the software platform segment will experience substantial growth through 2032. Simple integration and cost-effectiveness of network monitoring software would augment its demand in the coming years, supporting the segmental expansion.

In the context of service, the managed services segment is anticipated to grow at more than 15% CAGR through 2032. This growth can be accredited to the increasing number of enterprises that are using managed network monitoring services to outsource the overall maintenance and management of network infrastructure. This would allow the companies to optimize the network, reduce capital expenditure, and manage network monitoring solutions.

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In terms of enterprise size, the network monitoring market growth is likely to be defined by the SMEs segment, fueled by mounting product adoption by SMEs. To cater to this increasing demand, network providers are also coming up with cost-effective solutions. For example, in December 2022, Edgecore Networks announced introducing the SDW102 and SDW102-L for SMEs, through which users will be able to better address application performance issues for remote users.

Based on network speed, the 400Gbps segment will grow steadily by 2032. The increasing use of 400Gbps network speed by enterprises to expand their service portfolio and increasing the bandwidth is predicted to have an integral role in supporting the thriving market landscape.

In terms of application, the IT & Telecom segment is set to witness robust growth in the next ten years, owing to the increasing shift of telecom operators toward using more AI-based solutions to optimize network traffic flow and deliver better customer experience.

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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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