Network Monitoring Market Growth, Size, Key Drivers, Forecast To 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Network Monitoring Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $4.21 billion In 2028 At A CAGR Of 9.7% :

The network monitoring market size has grown strongly in recent years. It will grow from $2.68 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to rise in complexity of network environments, growing cybersecurity concerns, increased emphasis on performance optimization, compliance and regulatory requirements, expanding scale of IT infrastructure.

The network monitoring market size is expected to see strong growth in the next few years. It will grow to $4.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rise in cloud-based network deployments, growing importance of application performance monitoring (APM), integration with artificial intelligence (AI) and machine learning (ML), emergence of edge computing networks, focus on network automation and orchestration. Major trends in the forecast period include hybrid and multi-cloud network monitoring solutions, focus on end-user experience monitoring, collaboration with network security solutions, integration of 5G network monitoring capabilities, compliance with data privacy regulations.

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Network Monitoring Market Major Segments
The network monitoring market covered in this report is segmented -

1) By Offering: Equipment, Network TAPs, Data Monitoring Switches, Solutions and Services
2) By Bandwidth: 1 and 10 Gbps, 40 Gbps, 100 Gbps
3) By Enterprise Size: Large Enterprise, SMEs
4) By Applications: IT and Telecom, BFSI, Healthcare, Energy and Utilities, Government, Retail, Industrial, Other Applications

Key Driver - Surging Demand For SaaS-Based Network Monitoring Drives Market Growth

The rising popularity of SaaS-based network monitoring solutions is expected to propel the growth of the network monitoring market going forward. Software as a service is a method of software distribution where a cloud provider hosts programs and makes them accessible to customers online. SaaS network monitoring enhances visibility, awareness, and the capacity to handle issues without relying on a service provider's help desk by providing real-time data directly from the user's browser. Network monitoring is a cloud-based SaaS infrastructure monitoring service that refers to the gathering, storage, and analysis of network performance monitoring data in a SaaS repository as opposed to conventional physical or virtual appliances. For instance, in September 2021, according to the 2021 State of SaaSOps Report shared by BetterCloud, a US-based independent software vendor, the uptake of SaaS continued unabated. Organizations utilized 110 apps on average in 2021, up from 80 apps on average the previous year, a 38% rise. SaaS app consumption has increased by over seven times since 2017 and nearly 14 times since 2015. Therefore, the rising popularity of SaaS-based network monitoring solutions is driving the demand for the network monitoring market.

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Prominent Trend - Innovation Drive Shapes Technological Landscape In Network Monitoring Market

Technological advancements have emerged as a key trend gaining popularity in the network monitoring market going forward. Major companies operating in the network monitoring market are focused on developing new technological solutions to strengthen their position in the market. For instance, in July 2021, Netscout, a US-based provider of cybersecurity, service assurance, and business analytics solutions, launched nGeniusONE, a smart edge network monitoring platform for end-user insights. With complete visibility into infrastructure, dependencies, and applications, nGeniusONE provides a platform for monitoring and service assurance. Network traffic data may be continuously monitored and analyzed with the help of the instrument, which makes use of adaptive service intelligence technology. The new approach blends artificial transaction testing with smart data analytics to provide end-user support and visibility. Any network or application, regardless of the user's location, can receive this information from Netscout.

Network Monitoring Market Players
Major companies operating in the network monitoring market report are International Business Machines Corporation, Broadcom Inc., Keysight Technologies Inc., Juniper Networks Inc., Arista Networks Inc., Splunk Inc., VIAVI Solutions Inc., Cisco Systems Inc., Datadog Inc., ManageEngine Inc., Riverbed Technology Inc., Netgear Inc., Netscout Systems Inc., SolarWinds Inc., Dynatrace LLC, Gigamon Inc., ExtraHop Networks Inc., SevOne Inc., LogicMonitor Inc., Paessler AG, Kentik Inc., AppNeta Inc., Accedian Networks Inc., Calient Technologies LLC, Garland Technology Inc., Plixer International Inc., Big Switch Networks Inc., Nagios Enterprises LLC, Motadata Inc., Apcon Technologies Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the network monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global network monitoring market during the forecast period. The regions covered in the network monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Network Monitoring Market Report Structure
3. Network Monitoring Market Trends And Strategies
4. Network Monitoring Market - Macro Economic Scenario
5. Network Monitoring Market Size And Growth
…..
27. Network Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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