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HomeTech InnovationsMarket Analysis of Network Management Solutions: Global Perspective and Regional Insights

Market Analysis of Network Management Solutions: Global Perspective and Regional Insights

Network Management Solutions Market

The increase in SDN across enterprises and the rise in demand for network security have boosted the growth of the global network management solutions market.

PORTLAND, PORTLAND, OR, UNITED STATE, March 1, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Network Management Solutions Market,” The network management solutions market size was valued at $7.1 billion in 2021, and is estimated to reach $18 billion by 2031, growing at CAGR of 9.9% from 2022 to 2031.

Network management solution is used to equip, detect, supervise and sustain computer networks. Network management is crucial for configuration management and ensure regulatory standards of the network. Network management solution enables the solution to assure network changes are validated in a coordinated and controlled manner. Moreover, it also allows the solution to enlist the installed solution on nodes besides details such as versions and install dates. Furthermore, it also uses data collected from nodes to identify security risks associated with IT environment.

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Furthermore, surge of SDN across enterprises and increase in demand for network security is boosting global network management solution market growth. However, availability of free network management tools and low budget restrictions is hampering the network management solution market growth. On the contrary, rise in demand of network management solutions across SMEs and cloud-based NMS is expected to offer remunerative opportunities for expansion during the network management solutions market forecast.

This report gives an in-depth profile of some key market players in network management solutions industry CA Technology, Cisco, Cubro Network Visibility, Ericsson, Huawei, IBM Corporation, Juniper Networks, Kaseya Co. Ltd., Live Action, Manage Engine, Micro Focus, NETSCOUT Systems, Nokia, Pasessler, Progress, and Zoho Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the market globally.

Based on components, the solution segment accounted for the highest share in 2021, contributing to nearly two-thirds of the total share, and is expected to maintain its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 11.1% from 2022 to 2031.

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Based on deployment, the on-premise segment held the largest share in 2021, accounting for nearly three-fifths of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the cloud segment is estimated to witness the largest CAGR of 11.5% during the forecast period.

Depending on industry vertical, BFSI segment is dominating the network management solutions industry and is expected to do so in the forecast period as, network management solution provide advantages such as reliable, highly secure connectivity has been in place, organizations and people have been way more comfortable in relying on the online financial services as well as their applications. However, Retail segment is anticipated to have the highest growth in the forecast period due to network management solutions clients can pay the bill without any interruptions, deploy and monitor your store’s network securely from anywhere and manage multiple branches and multiple networks with just one vendor which would provide the lucrative growth opportunities for the network management solutions market.

Based on enterprise size, the large enterprises segment dominated the market in 2021, accounting for more than two-thirds of the global network management solutions market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 11.5% during the forecast period.

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Region-wise, North America dominated the network management solutions market share. The widespread deployment of management systems to monitor attacks on mission-critical communication networks are anticipated to provide lucrative growth opportunities for the network management solutions market in North America.

However, Asia-Pacific is expected to exhibit the highest growth during the forecast period. This is attributed to rapid technological advancements, digitization of economies, and government initiatives that increased expendable income among the region’s middle-income population.

Covid-19 Scenario:

• The Covid-19 outbreak severely impacted the market as several industries were exposed the vulnerability, especially those who were dependent on China for raw materials and finished goods.

• The prolonged lockdown disrupted the supply chain and affected the global economy due to the shutdown of manufacturing and production across the world.

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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Originally published at https://www.einpresswire.com/article/692541161/market-analysis-of-network-management-solutions-global-perspective-and-regional-insights-2031

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