Network Management System Market predicted to grow $11.0 billion by 2024

According to a new market research report "Network Management System (NMS) Market by Component (Platform, Solutions, and Services), Deployment Type (Cloud and On-premises), End-Users (Verticals and Service Providers), Organization Size, and Region - Global Forecast to 2024"published by MarketsandMarkets™, the NMS market size is expected to grow from USD 7.0 billion in 2019 to USD 11.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.5% during the forecast period. The primary factor expected to drive the growth of the NMS market is the increasing need for in-depth visibility into network security and Quality of Service (QoS), and growing network infrastructure. Exponential growth in the global Internet Protocol (IP) traffic and cloud traffic, and prominence of the Internet of Things (IoT) are expected to offer vast market opportunities for NMS vendors in the next 5 years.

Browse in-depth TOC on "Network Management System (NMS) Market”
113- Tables
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241- Pages

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Network performance and monitoring segment to record the highest growth rate during the forecast period

Under the solution segment, network performance and monitoring segment is expected to grow at the highest growth rate during the forecast period. Organizations of any size, such as SMEs and large enterprises, are investing heavily in network performance and monitoring solutions to ensure zero network outage and streamline network operations. Network performance and monitoring solutions offer a range of features, such as network performance, network traffic monitoring, bandwidth monitoring, network troubleshooting, health monitoring, network discovery, network mapping, network capacity planning, fault management, Class-Based Quality of Service (CBQoS), Network-Based Application Recognition (NBAR), NBRA2, alarms, real-time monitoring, traffic shaping, flow analysis, network visualization, intelligent alerting, in-depth network performance, and intelligent mapping.

Service providers to record the highest CAGR during the forecast period

In the NMS market by end-user, service providers are expected to register the highest CAGR during the forecast period. There is an increasing trend of the adoption of NMS solutions by telecom and cloud service providers to manage, analyze, and optimize the entire network infrastructure. The advanced NMS solutions can support better network capacity planning and network management features, as well as provide security against malware and DDoS attacks. Such critical factors are expected to drive the demand for NMS solutions among service providers.

North America to hold the largest market size during the forecast period

North America is expected to hold the largest market size in the global NMS market during the forecast period. The US has emerged as the largest country for the market in terms of market size, due to the heavy adoption of advanced technologies, such as cloud, analytics, and IoT, across the US organizations. Moreover, the US is one of the most developed countries in the world in terms of technology adoption, which is known for its innovative and disruptive startups.

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Key and emerging market players include Cisco (US), IBM (US), Huawei (China), Juniper Networks (US), Nokia (Finland), SolarWinds(US), CA Technologies (Broadcom) (US), NETSCOUT (US), Riverbed Technology (US), Micro Focus (UK), Ipswitch (Progress) (US), BMC Software (US), ExtraHop Networks (US), Colasoft (China), Flowmon Networks (Czech Republic), ManageEngine (US), LiveAction (US), Paessler AG (Germany), SevOne (US), Cubro Network Visibility (Austria), Kentik (US), VIAVI Solutions (US), Accedian (Canada), Kaseya (US), HelpSystems (US), Extreme Networks (US), AppNeta (US), Ericsson (Sweden), eG Innovations (US), and Opmantek (Australia).

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