Network Monitoring Technology Market is Anticipated to Hold a Share of US$ 4.1 billion by 2031 Says Transparency Market Research

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Wilmington, Delaware, United States , April 28, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Significant demand for real-time networking solutions such as security, scheduling, monitoring, aggregation of data, and fault diagnosis among cloud service providers, government organizations, and enterprises is expected to drive the network monitoring technology industry.

Surge in adoption of AI and machine learning network monitoring methods is anticipated to bolster market development. The global network monitoring technology market is projected to expand at a CAGR of 7.4% from 2023 to 2031 and reach US$ 4.1 Bn by 2031. The network monitoring technology market stood at US$ 2.2 Bn in 2022.

IT departments of enterprises garner several benefits such as better capacity planning, resource provisioning, and threat mitigation from the usage of network monitoring tools. Increase in trend of migration of enterprise networks to the cloud is likely to accelerate industry development in the next few years.

Increase in trend of machine virtualization is projected to broaden the market outlook. Advancements in protocols for network monitoring are poised to open up new revenue streams for companies in the network monitoring technology market.

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Market Snapshot:

Key Findings of Study 

Rise in Adoption of Cloud-based Network Monitoring Technologies: Surge in adoption of cloud-based network monitoring tools is expected to bolster the market size in the next few years. Shift to multi-cloud environment is anticipated to fuel market growth, since cloud data centers need complex monitoring systems.

Rise in demand for network device monitoring tools for cloud applications is estimated to positively influence the development of the network monitoring technology market. AI-based network monitoring tools attract special attention among industry players. These tools are likely to be useful for companies to adhere to corporate compliance.

Adoption of Real-time Network Monitoring Tools to Propel Market Growth: Real-time infrastructure monitoring tools help in the management of network performance. Access to real-time data on metrics such as bandwidth usage and packet loss enables network administrators to improve network reliability and enhance return on investment (RoI) of network assets in an organization.

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Key Drivers

• Surge in deployment of cloud and software as a service (SaaS) has enhanced the size and complexity of networks. This is likely to increase the need for efficient network monitoring tools to ensure network reliability and security. Thus, rapid expansion of networks to cloud implementations is expected to propel the global network monitoring technology market.  
• Demand for IT infrastructure management could be ascribed to significant need to ensure network reliability, boost security, and improve performance of hardware and software assets. These assets notably comprise routers, switches, and servers. Utilization of real-time IT infrastructure monitoring tools is anticipated to propel global network monitoring technology industry development.

Regional Growth Dynamics 

• North America is anticipated to account for leading share of the global market during the forecast period of 2023 to 2031. The U.S. is likely to offer significant revenue opportunities in the region.
• Presence of several IT service providers, especially in the U.S., is projected to bolster market development in North America. Surge in implementation of cloud data centers has also favored the expansion of avenues for companies in the regional market.  
• Asia Pacific is also a lucrative market for network monitoring technology. Surge in volume of network traffic due to deployment of cloud solutions is fueling the network monitoring technology market in the region. Increase in complexity of networks has spurred need for real-time IT infrastructure management solutions.

Competition Landscape  

Leading players are focusing on expansion of product portfolio to increase their market share. Many key players offer a broad array of network monitoring solutions to tap into the demand in the market and expand their clientele from 2023 to 2031.  

Some of the key players in the network monitoring technology market are Cisco Systems Inc., NETSCOUT, Zoho Corporation Pvt Ltd., Broadcom, Arista Networks, Juniper Networks, NETGEAR, VMware, Paessler, Zenoss, and Auvik Networks.

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Network Monitoring Technology Market Segmentation 

Component

• Hardware  
• Software  
• Services

Technology

• Ethernet 
• Fiber Optic 
• InfiniBand

Bandwidth

• 1- 10 Gbps 
• 40 Gbps 
• 100 Gbps

End-user

• Enterprise 
• Telecom Industry         
• Government 
• Cloud Service Provider

Region

• North America 
• Asia Pacific 
• Europe 
• South America 
• Middle East & Africa

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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