Global Network Management Market Reach USD 25.3 Billion by 2032 | Growing at 10.6% CAGR

According to the report published by Allied Market Research, Global Network Management Market Reach USD 25.3 Billion by 2032 | Growing at 10.6% CAGR. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Rise in digitalization and increase in adoption of advanced technologies such as IoT across the globe positively impact the growth of the market. In addition, the increase in adoption of network management solution across businesses to enhance operation & productivity is anticipated to propel the growth of the market in future. Furthermore, an increase in investments by top players and a rise in demand for enhanced security solutions are expected to provide lucrative growth opportunities for market expansion during the forecast period. Moreover, the increase in adoption of emerging technologies such as 5G & edge computing and growth in demand for SD-WAN technology are anticipated to provide lucrative growth opportunities for the market in the upcoming years.

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The global network management market size was valued at $9.5 billion in 2022, and is projected to reach $25.3 billion by 2032, growing at a CAGR of 10.6% from 2023 to 2032.

The network management market is segmented into component, deployment mode, network type, organization size, industry vertical, and region. On the basis of component, it is categorized into hardware, software and services. On the basis of network type, the market is divided into LAN, WAN and MAN. On the basis of deployment mode, it is bifurcated into on-premise and cloud. On the basis of organization size, the market is bifurcated into large enterprises, and small & medium-sized enterprises. On the basis of industry vertical, the market is classified into manufacturing, BFSI, retail, healthcare, IT & telecom and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on region, the North America segment held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the network management market revenue. Factors such as the growth of remote work and the surge in online services have fueled the demand for reliable, high-performance network management in the region. However, Asia-Pacific is expected to witness the fastest CAGR of 13.8% from 2023 to 2032, and is likely to enhance the market growth during the forecast period. Rapid proliferation of 4G, 5G in developing countries of Asia-Pacific, increase in subscriber base, favorable government policies and regulations, and demand for security are expected to boost the growth of the region at a considerable pace.

The key players that operate in the network management market analysis are Cisco Systems, Inc., IBM Corporation, Microsoft Corporation, juniper Networks, Inc., SolarWinds Corporation, Broadcom Inc., Huawei Technologies Co., Ltd., Hewlett Packard Enterprise, BMC Software, Inc., and Nokia Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the network management industry.

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Recent Product Launch in the Market

● October 2023, Huawei Technologies launched its latest Intelligent Cloud-Network products and solutions. The solution offers unmatched computing power and super-connectivity for AI-driven productivity in the intelligent era.

● In July 2023, Juniper Networks, Inc., a leader in secure, AI-driven networks, launched the new EX4100 series of enterprise-grade wired access switches, which leverage a modern microservices cloud and Mist AI to deliver outstanding performance, ease, flexibility and security for all enterprise access layer switching environments, including campus fabric architectures.

● In June 2022, Cisco has announced two new products that mark a shift in its approach to network management that will shape the company's portfolio for the coming years.

Recent Partnership in the Market

● In May 2023, NTT Ltd., a leading IT infrastructure and services company partnered with Cisco, a global leader in technology, to develop and deploy joint solutions that empower organizations to improve operational efficiencies and advance sustainability goals.

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Covid-19 Scenario

● The COVID-19 pandemic has profoundly impacted the network management industry, triggering a seismic shift in the way organizations approach connectivity and IT infrastructure. The demand for robust and secure networks skyrocketed, forcing network management professionals to rapidly adapt to the challenges of supporting a decentralized workforce with an unprecedented surge in remote work. The need for scalable solutions, increased bandwidth, and enhanced security measures became paramount.

● In addition, the pandemic accelerated digital transformation initiatives, prompting organizations to invest in cloud-based services and advanced networking technologies.

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