The Network Management System Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Network Management System Global Market Report 2024, 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 growth in the historic period can be attributed to early network complexity, Internet expansion, transition to IP-based networks focus on security, remote work acceleration.
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%. The growth in the forecast period can be attributed to 5G implementation IoT proliferation increased emphasis on automation cybersecurity integration. Major trends in the forecast period include rise of intent-based networking (IBN), shift towards cloud-based network management, integration of artificial intelligence (AI) and machine learning (ML), adoption of software-defined networking (SDN) and network function virtualization (NFV).
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.
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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
Major companies operating in the network management system market are developing innovative products, such as digital network management solutions, to meet larger customer bases, increase sales, and increase revenue. A digital network management solution refers to a comprehensive set of software tools, technologies, and processes designed to monitor, optimize, and control the performance and security of computer networks. For instance, in February 2023, Huawei Technologies Co. Ltd., a China-based technology company, launched the Digital Managed Network Solution. The digital managed network solution empowers carriers to seize digital transformation opportunities and drive new growth by offering a range of innovative services. This solution facilitates the transformation of carriers from Internet Service Providers (ISPs) to Managed Service Providers (MSPs). The notable features are private line + managed LAN, which enables the transition from standard private lines to comprehensive cloud-managed network services. Private Line + Managed Security uses a cloud service architecture to provide cost-effective and customizable security solutions. It simplifies cloud and on-premises services, allowing for faster provisioning and a 36% reduction in Total Cost of Ownership (TCO).
The network management system market report table of contents includes:
1. Executive Summary
2. Network Management System Market Characteristics
3. Network Management System Market Trends And Strategies
4. Network Management System Market – Macro Economic Scenario
….
32. Global Network Management System Market Competitive Benchmarking
33. Global Network Management System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Network Management System Market
35. Network Management System Market Future Outlook and Potential Analysis
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