Network Management Systems Market Size Set to Achieve USD 21.1 Billion by 2030 growing at 9.7% CAGR – Exclusive Report by Acumen Research and Consulting
Acumen Research and Consulting recently published report titled “Network Management Systems Market and Region Forecast, 2022 – 2030”
Osaka, Jan. 10, 2023 (GLOBE NEWSWIRE) — The Global Network Management Systems Market Size was valued at USD 9.2 Billion in 2021 and is set to garner a market size of USD 21.1 Billion by 2030 growing at a CAGR of 9.7% from 2022 to 2030.
Network management systems (NMS) are software applications that manage, monitor, and control the various components of a computer system. Growing network complexities along with the increasing reliance on networks are the key factors that are driving the network management systems market value.
The increasing integration of trending technologies in networking is a key trend in the network management systems (NMS) market. Artificial intelligence (AI) and machine learning technologies are increasingly being used in network management systems to improve their functionality, such as by automating tasks or analyzing data to identify patterns and trends. Because of the increasing prevalence of cyber threats, network management systems are putting a greater emphasis on security, with a stronger reliance on tools and technologies that can prevent networks from these threats. In addition, the deployment of 5G networks is expected to increase demand for advanced network management systems capable of supporting 5G’s high speeds and low latencies.
Network Management Systems Market Statistics
- Global network management systems market revenue gathered USD 9.2 Billion in 2021, with a 9.7% CAGR between 2022 and 2030
- North America network management systems market share gathered over 37% in 2021
- Asia-Pacific network management systems market growth is projected to attain over 10% CAGR from 2022 to 2030
- By component, the solutions sub-segment seized USD 6.3 billion in market revenue in 2021
- Based on industry vertical, the IT & telecom sub-segment acquired over 25% of shares in 2021
- The rising trend of mobile and remote access is a key trend in the network management systems industry that fuels the demand
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Network Management Systems Market Report Coverage:
|Market||Network Management Systems Market|
|Network Management Systems Market Size 2021||USD 9.2 Billion|
|Network Management Systems Market Forecast 2030||USD 21.1 Billion|
|Network Management Systems Market CAGR During 2022 – 2030||9.7%|
|Network Management Systems Market Analysis Period||2018 – 2030|
|Network Management Systems Market Base Year||2021|
|Network Management Systems Market Forecast Data||2022 – 2030|
|Segments Covered||By Component, By Deployment, By Enterprise, By Industry Vertical, And By Geography|
|Network Management Systems Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||BMC Solutions, Inc., Broadcom, Inc. (CA Technology), Colasoft, Inc., Cisco Systems, Inc., HPE, Huawei Technologies Co. Ltd., IBM Corporation, Juniper Networks, Inc., Paessler AG, Nokia Corporation, NetScout Systems, Inc., Oracle Corporation, Riverbed Technologies, Inc., SolarWinds Inc., and VIAVI Solutions, Inc.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Network Management Systems Market Dynamics
The growing need for improved network security drives the industry’s adoption of network management systems. The growing prevalence of cyber threats has increased the demand for network management systems that can assist in protecting networks from these threats. In addition, the rising demand for mobile and remote access fuels the NMS market. The growing demand for mobile and remote network resource access is driving up the demand for network management systems that can meet these demands.
However, the market is also constrained by key factors such as system complexity, interoperability issues, and changing technology. Network management systems can be complex, and those who are unfamiliar with them may face a steep learning curve. Network management systems from multiple vendors may not be fully compatible with one another, which can cause interoperability issues and make managing networks with multiple vendors difficult. Because of the rapid change in technology in the field of networking, network management systems may struggle to keep up, limiting their effectiveness.
Furthermore, the increasing adoption of cloud-based solutions is expected to create significant market growth opportunities in the coming years. The growing popularity of cloud-based network management systems provides an opportunity for vendors to create and market such solutions. Nonetheless, the growing adoption of mobile and internet technologies in emerging markets presents vendors with an opportunity to expand into these markets. This opportunity is also expected to gain traction for the growth of the network management systems market.
Rapid Adoption of Network Management in IT & Telecom Sector Propels the Market Growth
Network management systems are an important tool for organizations in the IT and telecommunications sectors because they help to ensure that networks run smoothly and efficiently. These systems can be used to track the operation of network devices and services, detect and fix network problems, and generate network performance and usage reports. Network management systems are also used in the IT and telecom industries to manage the quality of service (QoS), to establish that network resources are used efficiently, and to prioritize specific types of traffic. Network management systems can also help to enhance security by protecting networks from cyber attacks and guaranteeing industry compliance. Overall, network management systems can assist organizations in the IT and telecom sectors in improving network reliability, performance, and efficiency.
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Network Management Systems Market Segmentation
Component, deployment, enterprise, industry vertical, and regions are the segmentation considered in the global network management systems NMS market.
The component segment is sub-segmented into solutions and services. The solutions sub-segment is further categorized into accounting management, configuration management, fault management, performance management, and security management. The services sub-segment includes consulting, integration & implementation, and training, support & maintenance.
The deployment segment is bifurcated into on-premises and cloud-based. Based on enterprise size, the segmentation includes large enterprises and SMEs. By industry vertical, the market is split into IT & telecom, BFSI, government, manufacturing, healthcare, transportation & logistics, retail, media & communication, and others.
Network Management Systems Market Share
According to our network management systems industry research, the solutions component generated the most revenue in 2021 and is expected to continue to do so in the future. However, the services sub-segment is expected to grow significantly between 2022 and 2030.
Based on deployment, the on-premises segment captured a sizable market share in 2021, while the cloud-based sub-segment is expected to grow at the fastest rate between 2022 and 2030.
In 2021, the large enterprise segment will have the highest market share, while SMEs will have the highest CAGR. Furthermore, IT and telecom generated the most revenue and will continue to do so in the coming years. The healthcare sector, on the other hand, is expected to grow at the fastest rate between 2022 and 2030.
Network Management Systems (NMS) Market Regional Outlook
According to regional analysis, the North American network management systems industry held the largest market share in 2021 and is expected to maintain its dominance in the future. Significant growth in healthcare IT spending, the proliferation of high-tech industries, and the rapid rollout of 5G infrastructure are just a few of the factors bolstering American network management systems. Furthermore, growing investments in new data centers, as well as an increasing broadband penetration rate, would support regional growth in the coming years.
However, the Asia Pacific network management systems market is expected to grow at the fastest CAGR during the forecast period, owing to the penetration of smartphones, and the continued release of broadband and cellular networks. Moreover, the growing popularity of the Internet of Things (IoT) as well as cloud-based solutions and services will support the Asia-Pacific NMS market growth.
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Network Management Systems Market Players
Some prominent network management systems companies covered in the industry are BMC Solutions, Inc., Broadcom, Inc. (CA Technology), Colasoft, Inc., Cisco Systems, Inc., HPE, Huawei Technologies Co. Ltd., IBM Corporation, Juniper Networks, Inc., Paessler AG, Nokia Corporation, NetScout Systems, Inc., Oracle Corporation, Riverbed Technologies, Inc., SolarWinds Inc., and VIAVI Solutions, Inc.
Questions Answered By This Report
- What was the market size of Network Management Systems Market in 2021?
- What will be the CAGR of Network Management Systems Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Network Management Systems Market?
- Which region held the largest share in Network Management Systems Market in 2021?
- What are the key market drivers of Network Management Systems Market?
- Who is the largest end user Network Management Systems Market?
- What will be the Network Management Systems Market value in 2030?
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