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network management market is witnessing dynamic changes and significant growth as organizations increasingly rely on complex and interconnected networks to support their operations. Network management refers to the processes, tools, and techniques used to monitor, control, and optimize networks. Several key factors are shaping the market dynamics of the network management market.
Firstly, the rapid expansion of network infrastructure and the proliferation of devices are driving the demand for effective network management solutions. With the advent of technologies such as cloud computing, Internet of Things (IoT), and 5G, networks have become more extensive and diverse. Organizations need robust network management solutions to ensure reliable connectivity, efficient performance, and proactive troubleshooting across their networks.
Secondly, the increasing complexity of networks is fueling the need for advanced network management tools. Traditional network management approaches are no longer sufficient in handling the complexities of modern networks. Organizations require intelligent and automated solutions that can monitor network traffic, identify bottlenecks, and proactively detect and resolve issues to minimize downtime and optimize network performance.
Moreover, the rise in cybersecurity threats is a significant driver in the network management market. With the proliferation of cyber attacks and data breaches, organizations must have comprehensive network management solutions that provide security monitoring, threat detection, and incident response capabilities. Network management tools that integrate security features, such as intrusion detection systems and firewalls, help organizations protect their networks from malicious activities and safeguard sensitive data.
Furthermore, the increasing adoption of virtualization and software-defined networking (SDN) is shaping the market dynamics of network management. Virtualized networks and SDN architectures allow for greater flexibility, scalability, and centralized control. Network management solutions that can seamlessly integrate with virtualized and SDN environments enable organizations to efficiently manage and orchestrate their networks, ensuring optimal performance and resource utilization.
Additionally, the shift towards cloud-based services and hybrid network infrastructures is driving the demand for network management solutions that can provide visibility and control across multiple environments. Organizations require a unified view of their networks, whether they are on-premises, in the cloud, or a combination of both. Network management tools that offer centralized monitoring, configuration management, and performance analytics across these environments are essential in ensuring seamless connectivity and efficient operations.
However, challenges exist in the network management market. The increasing complexity of networks and the rapid pace of technological advancements pose hurdles for organizations in effectively managing their networks. Skills gaps and limited resources can hinder the adoption and implementation of advanced network management solutions. Organizations must invest in training their IT teams and ensure they have the necessary expertise to leverage network management tools effectively.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Component, Streaming Type, Vertical, and Region |
Network Management Market Highlights:
Network Management Market Overview
The Network Management Market Size was valued at USD 8.9 Billion in 2022. The Network Management market industry is projected to grow from USD 9.88 Billion in 2023 to USD 22.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.02% during the forecast period (2023 - 2032).The rising complexity of networks and increasing virtualization implementation are the key market drivers contributing to overall market growth and expansion.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Network Management Market Trends
The growing network management industry is driving the market growth
The rising network management industry drives market CAGR for network management. Globally, the network management industry is expanding rapidly. Many factors contribute to the market's expansion. The main causes are the rising complexity of networks and growing virtualization adoption. Virtualization is increasingly being used to change network administration. Another aspect is the increasing demand for cloud computing.
Furthermore, all small and medium-sized businesses are increasing their need for network management systems and services. Other important reasons driving growth in the network management solutions market include growing internet usage and official digitalization strategies in emerging and established nations. Another critical element is the increase in mobile users, accelerating the expansion of network management systems.
Additionally, there are several prospects in the network management industry, such as the rise of artificial intelligence (AI). Another potential is the increased requirement for company operations optimization. There is potential for the use of IP video information centers and virtualization. Furthermore, the growing need from the Internet of Things for network management systems for handling and controlling network operations to deliver outstanding services influences the network management systems consumers, which will likely give lucrative prospects for market expansion in the coming years.
According to the rising threat of a worldwide pandemic. This market has been mostly unaffected by the field in which it works. Even in difficult circumstances, the network must function optimally. Because of the distance, people accessed the internet easily during the shutdown. People become even more connected as a result of the space. Video calling, regular phone conversations, text messages, and other means maintain the network. Network administration was completed quickly and efficiently to ensure no one had difficulty connecting. Post-COVID-19, optimism sentiment of the new normal begins to emerge, reviving the market demand.
For instance, based on the Identity Theft Resource Centre (ITRC), the United States documented 1,579 breaches in 2017, a 44.7% rise over the previous year's numbers. As big data breaches occur in US federal agencies, it's growing critical for organizations to implement safety precautions. Thus, it is anticipated that demand for Network Management will increase throughout the projection timeframe due to the rising network management industry. Thus, driving the Network Management market revenue.
Network Management Market Segment Insights
Network Management Component Insights
The Network Management market segmentation, based on Components, includes Transcoding & Processing, Video Management, Video Delivery & Distribution, and Video Security. The video management segment dominated the market, accounting for 42% of market revenue (USD 3.7 Billion) in 2022 as it provides internal facilities for recording and reviewing video immediately through a web interface. The Video Security category is the fastest-growing category during the projected timeframe as it has the capacity to detect and respond swiftly to security issues before they arise.
Network Management Streaming Type Insights
The Network Management market segmentation, based on Streaming Type, includes Live and Video-On-Demand. The video-on-demand category generated the highest market revenue of about 51% (USD 4.5 billion) in 2022. It is expected to grow at a fast CAGR during the projected timeframe, boosting the overall market growth as one can watch videos without the need to wait for the files to be saved,  and fast forward or rewind films, on several devices.
Figure 1: Network Management Market by Streaming Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Network Management Vertical Insights
The Network Management market segmentation, based on Vertical, includes BFSI, Healthcare, Education, Media & Entertainment, Travel & Tourism, and Defense government. The BFSI segment dominated the market, accounting for 32% of market revenue (USD 2.8 Billion) in 2022 as it provides both software and hardware to automate processes while maintaining the operational experience. Media & Entertainment is expected to grow and expand fastest during the projected timeframe as there is a requirement for an adaptable and productive workflow at all stages of content creation fulfilled by network management.
Network Management Regional Insights
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Network Management market area will dominate this market during the projected timeframe; owing to the sophisticated use of artificial intelligence and established IT infrastructure, more businesses are launched to choose cloud services overpaying upfront expenses to create their data centers will boost the market growth in the North American region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Network Management Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Network Management market accounts for the second-highest market share because of major industry participants and the increasing integration of data centers in this market. Further, the German Network Management market holds the largest market share, and the UK Network Management market is expected to grow and expand significantly in the European region during the projected timeframe.
The Asia-Pacific Network Management Market is expected to grow quickly during the projected timeframe. This is due to the growing appeal of cloud-based products and offerings and the Internet of Things, which will boost the overall market growth. Moreover, China’s Network Management market dominates the market share, and the Indian Network Management market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.
Network Management Key Market Players & Competitive Insights
Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Network Management market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Network Management industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Network Management industry to benefit customers and capture untapped market share and revenue. The Network Management industry has recently offered significant advantages to the BFSI industry. Moreover, more industry participants are utilizing and adopting cutting-edge technology has grown substantially. Major players in the Network Management market, including Avaya Inc. (US), Alcatel-Lucent S.A. (France), IBM Corporation (US), Juniper Networks Inc. (US), Cisco Systems Inc. (US), Aruba Network Inc. (US), CA Technologies Inc. (US), Netscout System Inc. (US), Solarwinds Worldwide LLC. (US), and BMC Software Inc. (US) are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.
Cisco Systems, Inc. is an IT and communications firm that designs, manufactures, and sells Internet Protocol-based networking devices and services. The company operates in three regional segments: North America, EMEA, and Asia-Pacific. Switches, NMI & Modules, Routers, Optical Communication, Network Points, Next-Generation Firewalls, Sophisticated Malware Protection, VPN Clients, and Web Security are among its product categories. Sandra Lerner and Leonard Bosack formed the firm on December 10, 1984, headquartered in San Jose, California. It bought Singularity Networks, a firm that analyses network infrastructure, in February 2019. It will give its clients increased network reliability, cost-effectiveness, more visibility, and reduced downtime due to the purchase.
NetScout Systems, Inc. provides corporate and service provider organizations with software and network monitoring solutions for companies and mobile networks. It was formed in June 1984 by Anil Singhal and Narendra Popat in Westford, MA. It also includes packet-flow technology, real-time network usage, and user performance analytics. Commercial organizations, government departments, and communications service providers use the organization's combined software and hardware offerings. Arbour Threat Analytics (ATA), the industry's premier Network-Based Attack Identification and Analytics Platform, was announced in July 2019 by NETSCOUT to provide comprehensive insight into today's multi-cloud settings.
Key Companies in the Network Management market include
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Avaya Inc. (US.)
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Alcatel-Lucent SA (France)
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IBM Corporation (US.)
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Juniper Networks Inc. (US.)
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Cisco Systems Inc. (US.)
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Aruba Network Inc. (US.)
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CA Technologies Inc. (US.)
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Netscout System Inc. (US.)
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Solarwinds Worldwide LLC. (US.)
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BMC Software Inc. (US.)
Network Management Industry Developments
December 2020: Juniper Networks will buy Apstra, a supplier of networking based on intent software, in December 2020. The business hoped to accelerate the development of a self-driving infrastructure by supporting public and private cloud providers in optimizing their processes for app performance.
July 2019: Arbour Threat Analytics (ATA), the industry's premier Network-Based Attack Identification and Analytics Platform, was announced in July 2019 by NETSCOUT to provide comprehensive insight into today's multi-cloud settings.
February 2019: Cisco bought Singularity Networks, a firm that analyses infrastructure for networks, in February 2019. It will give its clients increased network reliability, cost-effectiveness, more visibility, and reduced downtime due to the purchase.
Network Management Market Segmentation
Network Management Component Outlook
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Transcoding & Processing
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Video Management
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Video Delivery & Distribution
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Video Security
Network Management Streaming Type Outlook
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Live
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Video-On-Demand
Network Management Vertical Outlook
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BFSI
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Healthcare
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Education
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Media & Entertainment
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Travel & Tourism
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Defense government
Network Management Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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