Network Management System Market Expected to Reach US$ 21 Billion by 2032 - Strong Growth Forecasted

The global "Network Management System (NMS) market" is set to witness robust growth over the next decade, with a projected Compound Annual Growth Rate (CAGR) of 8.6% between 2022 and 2032. As per market forecasts, the market size is anticipated to surge from US$ 9.1 Billion in 2022 to an impressive US$ 21 Billion by 2032.

In today's technologically-driven business landscape, the effective management of networks holds paramount importance, especially for enterprises operating in the IT sector. The proficient handling of networks ensures uninterrupted service delivery, seamless internal and external communication, and overall operational continuity. The upcoming wave of network management systems promises enhanced trajectory management capabilities, poised to revolutionize network operations.

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The evolution of networks has been transformative due to rapid technological advancements. Network administrators now face the challenge of maintaining complex networks that consist of diverse hardware and software components, manufactured by various vendors and distributed globally. This burgeoning demand for Network Management System products that cater to the burgeoning industry needs, offering automated network management solutions, is a major driver behind the market's growth.

Key Takeaways:

-Projected CAGR of 8.6% for the Network Management System market between 2022 and 2032.
-Market size estimated to grow from US$ 9.1 Billion in 2022 to US$ 21 Billion by 2032.
-Evolution of networks and technological complexity drives demand for efficient NMS solutions.
-Multinational corporations prioritizing secure and user-friendly network management solutions.
-Small and medium-sized enterprises inclined towards on-premise NMS -deployments for enhanced support.

Competitive Landscape 

BMC Software, Cisco, CA Technologies, AppNeta, Extreme Networks, Accedian, HelpSystems, Ipswitch, Kentik, Micro Focus, NETSOCUT, Nokia, Riverbed Technology, SolarWinds, VIAVI Solutions, Flowmon Networks, Paessler, Colasoft, and Cubro Network Visibility are among the major players in the network management system (NMS) market.

Global wireless communication solution providers and network equipment manufacturers are launching new network monitoring and management solutions to help operators manage their networks more efficiently.

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Recent Developments

-In February 2017, Ericsson unveiled as a service that assists operators in their travels to virtualization, SDN, and 5G network transformations. Nokia released the NetAct Cloud network management technology in May 2016, allowing operators to deploy new network capabilities with minimum downtime. The technology is capable of handling 5G network needs and offers total mobile network control.
-In January 2017, the Chinese government lowered subsidies and relaxed laws in order to encourage more private investment in order to strengthen its internet services.
-Riverbed Technology, Inc. formed a collaboration agreement with Huawei Technologies Co., Ltd in 2017 to supply Huawei CloudEPN with Riverbed SteelHead integrated solutions that may assist clients in simplifying network administration in the cloud era.

Key segments

By Component:

Platform
Solutions
Services

By Deployment Type:

Cloud
On-Premises

By Organisational Size:

Large Enterprise
Small & Medium Sized Enterprise

By End Use:

Service Providers
Verticals

By Region:

North America
Latin America
Europe
APAC
Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.