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Network Monitoring Market size exceeded USD 2 billion in 2020 and is estimated to grow at over 10% CAGR between 2021 and 2027. Increasing demand for improving the performance of business-critical networks and ensuring high network availability is likely to boost the industry growth. The continuous evolution of networking technologies and the advent of new network architectures have increasingly made networks complex and difficult to manage. Growing technical complexities, such as length of routing table configurations, firewall management, and rules & exception policies, have surged the demand for advanced network monitoring solutions.
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The majority of the individuals are working and staying at home due to COVID-19 restrictions that resulted in an upsurge in traffic on wireless network infrastructure. This enabled enterprises to leverage advanced network monitoring tools amid the COVID-19 outbreak. In addition, the companies in the region are unveiling innovative network monitoring solutions.
Report Coverage | Details |
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Base Year: | 2020 |
Market Size in 2020: | 2 Billion (USD) |
Forecast Period: | 2021 to 2027 |
Forecast Period 2021 to 2027 CAGR: | 10% |
2027 Value Projection: | 7 Billion (USD) |
Historical Data for: | 2017 to 2020 |
No. of Pages: | 275 |
Tables, Charts & Figures: | 468 |
Segments covered: | Component, Enterprise Size, Network Speed, Application and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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In Canada, the monitoring equipment component segment held around 25% of the network monitoring market share in 2020 led by rising demand for network performance monitoring and infrastructure management. Organizations are deploying network monitoring solutions to govern the data transmission flow across a network. Network monitoring switches govern the destination and source address of data packets and transmit them to the specified component. This helps in managing the network bandwidth and ensuring efficiency of the network infrastructure. It also supports in-depth monitoring by enabling access to network protocols.
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The SMEs segment in UK network monitoring market is expected to witness growth rate of about 10% through 2027 driven by the availability of cost-effective solutions and increasing popularity of SaaS-based network monitoring solutions. SMEs majorly rely on cost effective and scalable networking solutions that can be easily deployed over their network infrastructure. Currently, the market is observing an increasing popularity of SaaS-based solutions; thus, the companies are focusing on development of SaaS-based network management solutions.
In China, the 1 and 10 Gbps network monitoring segment captured more than 55% of the revenue share in 2020 led by the widespread adoption by the companies operating in the telecom industry. This network speed provides access to on-demand network software & hardware systems, high-speed communications, and helps in optimizing business processes. Industry players are enhancing their network capacity owing to growing traffic and complexities, resulting in network stress and poor service quality.
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The BFSI application in German market is projected to register 10% gains through 2027 impelled by rising acceptance of cloud-based network solutions across the banking industry. However, any network failure or cyberattack on the bank’s network can result in a hefty financial loss. Thus, banking institutions are enabling network performance monitoring systems for real-time insights and additional security in the network, helping banks to detect the problem before it affects the services and mitigate the risk associated with it.
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The Asia Pacific network monitoring market size is predicted to generate nearly USD 1 billion revenue in 2027 propelled by growing usage of IoT for industrial applications in various countries, such as China, Japan, and India. Moreover, the increasing number of individuals working from home is enabling telecom and network service providers to adopt robust network management systems. This trend is also set to increase the network performance monitoring solutions market demand. Furthermore, the rising IoT-centric cyberattacks across India in multiple industry verticals are augmenting the demand for advanced network monitoring systems.
The industry participants are emphasizing on development of innovative products and solutions to gain a competitive advantage. For instance, in April 2020, Accedian Networks launched its Skylight, performance monitoring, and analytics platform with additional capabilities. These new capabilities helped the company to offer differentiated network and service performance visibility solution for business and managed service providers.
Some of the players operating in the network monitoring market include Accedian Networks, Inc., Apcon, Inc., AppNeta, Inc., Arista Networks, Inc., Broadcom, Inc., Cisco Systems, Inc., Colasoft, ExtraHop Networks, Inc., Garland Technology, LLC, Gigamon, Inc., Keysight Technologies, Juniper Networks, Inc., LiveAction, Inc., Logic Monitor, Inc., ManageEngine, NETSCOUT Systems, Inc., Riverbed Technology, Inc., SevOne, Inc., SolarWinds Worldwide, LLC., and Viavi Solutions, Inc.
Market, By Component
Market, By Enterprise Size
Market, By Network Speed
Market, By Application
The above information has been provided for the following regions and countries: