Network Management System Global Market Expected to hit $16.52 Billion at a CAGR of 9.8% By 2028, Top Factors Leading The Industry Worldwide

"The new report published by The Business Research Company, titled ""Network Management System Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the network management system market size has grown strongly in recent years. It will grow from $10.57 billion in 2023 to $11.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The network management system market size is expected to see strong growth in the next few years. It will grow to $16.52 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.

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Cloud-Based Service Surge Fuels Network Management System Market Growth
Increasing demand for cloud-based services is significantly contributing to the growth of the network management system market going forward. Cloud refers to servers that are provided over the Internet and the software and databases that run on those servers. The network operators can get new network management services dynamically using cloud solutions rather than installing new hardware. For instance, according to the 2022 State of the Cloud Report by Flexera, a US-based software company that surveyed 753 technical professionals, overall small to midsized businesses' (SMBs') cloud spend had grown substantially to 53%, reaching $1.2 million in annual spend in 2022, which was up from 38% in 2021. Therefore, the increasing demand for cloud-based services is driving the network management system market growth.

Innovative Technological Solutions Drive Network Management System Market
Technological advancement is a key trend gaining popularity in the network management system market. Major companies operating in the network management system sector are focused on introducing new technologies to lead the market. For instance, in July 2021, IBM, a US-based technology company, launched the IBM Cloud Pack, a hybrid cloud with AI-powered automation software to manage networks. This helps to enable zero-touch operations at lower costs and faster delivery of innovative services. It helps the network engineers create and automate network lifecycle models, view live network performance in real time, and automate service design and testing. The software integrates artificial intelligence for IT operations (AIOps), advanced analytics, and machine learning to help communications service providers find hidden patterns in networking data to optimize network operations without major human intervention.

The network management system market covered in this report is segmented -
1) By Component: Platform, Solutions, Services
2) By Organization: Large Enterprises, Small and Medium Enterprises
3) By Deployment: On-Premise, Cloud
4) By End-User: Banking, Financial Services, And Insurance, Information Technology And Telecom, Healthcare, Media And Communication, Retail, Other End-Users

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Major companies operating in the network management system market report are Deutsche Telekom AG, Huawei Technologies Co Ltd., Hewlett Packard Enterprise Development LP, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Broadcom Inc., Ericsson AB, Nokia Corporation, Telstra Corporation Limited, Telia Company AB, Juniper Networks Inc., Colt Technology Services Group Limited, Micro Focus International plc, BMC Software Inc., Alcatel-Lucent Enterprise S.A., Viavi Solutions Inc., Extreme Networks Inc., Zoho Corporation Pvt Ltd., NETSCOUT Systems Inc., SolarWinds Inc., Progress Software Corporation, Kaseya VSA LLC, Paessler AG, LiveAction Inc., eG Innovations Inc., Colasoft Technology Co Ltd., Cubro Network Visibility, Kentik Inc.

Contents of the report:
1. Executive Summary
2. Network Management System Market Report Structure
3. Network Management System Market Trends And Strategies
4. Network Management System Market - Macro Economic Scenario
5. Network Management System Market Size And Growth
…..
27. Network Management System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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