Market Dynamics and Key Players: Unveiling the Latest Trends in Network Management Solutions Industry by 2031

A recent report by Allied Market Research titled "Network Management Solutions Market" reveals that the market size for network management solutions was valued at $7.1 billion in 2021 and is projected to reach $18 billion by 2031, with a compound annual growth rate (CAGR) of 9.9% from 2022 to 2031.

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Network management solutions play a critical role in equipping, detecting, supervising, and sustaining computer networks. These solutions are essential for configuration management and ensuring regulatory standards within a network. They validate network changes in a coordinated and controlled manner, while also providing details on installed solutions, versions, and installation dates. Additionally, these solutions utilize data from nodes to identify security risks associated with the IT environment.

The global growth of the network management solutions market is driven by the increasing adoption of Software-Defined Networking (SDN) across enterprises and a rising demand for network security. However, challenges such as the availability of free network management tools and budget restrictions are hindering market growth. On a positive note, there is an anticipated rise in demand for network management solutions among Small and Medium Enterprises (SMEs) and the adoption of cloud-based Network Management Systems (NMS), presenting lucrative expansion opportunities.

Based on deployment, the on-premise segment held the largest share in 2021, accounting for nearly three-fifths of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the cloud segment is estimated to witness the largest CAGR of 11.5% during the forecast period.

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Based on enterprise size, the large enterprises segment dominated the market in 2021, accounting for more than two-thirds of the global network management solutions market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 11.5% during the forecast period.

In terms of industry verticals, the Banking, Financial Services, and Insurance (BFSI) sector currently dominates the network management solutions industry. The sector benefits from reliable and highly secure connectivity, allowing organizations and individuals to comfortably rely on online financial services. Nevertheless, the Retail segment is poised for significant growth due to the seamless payment processes, secure network deployment and monitoring, and the ability to manage multiple branches with a single vendor.

Geographically, North America holds the largest market share in network management solutions. The widespread deployment of management systems to monitor attacks on critical communication networks is a key factor contributing to the region's dominance. In contrast, Asia-Pacific is expected to witness the highest growth during the forecast period, driven by rapid technological advancements, digitization of economies, and government initiatives, coupled with increased disposable income among the middle-income population in the region.

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The COVID-19 pandemic has significantly impacted the network management solutions market, exposing vulnerabilities in industries heavily dependent on China for raw materials and finished products. The disruption of supply chains and the global economic downturn resulting from widespread manufacturing and production shutdowns have contributed to the challenges faced by the market.

The Network Management Solutions Market report provides a comprehensive overview of key players in the network management solutions industry, including CA Technology, Cisco, Cubro Network Visibility, Ericsson, Huawei, IBM Corporation, Juniper Networks, Kaseya Co. Ltd., Live Action, Manage Engine, Micro Focus, NETSCOUT Systems, Nokia, Paessler, Progress, and Zoho Corporation. These leading companies have implemented diverse development strategies, such as business expansion, introducing new products, and forming partnerships, contributing to the global market's growth.

The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.

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