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Network Monitoring Market Size By Component (Monitoring Equipment [Network Monitoring Switch, Network Terminal Access Point (TAP)], Software Platform, Service [Professional Services, Managed Services]), By Enterprise Size (SMEs, Large Enterprises), By Network Speed (1 and 10 Gbps, 40Gbps, 100 Gbps, 400 Gbps), By Application (Government, IT & Telecom, BFSI, Healthcare, Energy & Utility, Retail, Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI3015
  • Published Date: Dec 2022
  • Report Format: PDF

Industry Statistics

Network Monitoring Market size surpassed USD 3 billion in 2022 and is projected to record 14% CAGR during 2023 to 2032 driven by the increasing inclination of industries towards cloud-based solutions.
 

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Recent advancements in cloud computing technologies to offer seamless physical and virtualized network monitoring solutions have stimulated the industry's gradual transition to cloud-based solutions. The rapidly increasing number of IoT and BYOD devices causing strain on modern networks has surged the need for effective network monitoring tools. The industry is anticipated to grow significantly as a result of the exponential development of network traffic. Furthermore, expanding mobile access and an increase in content delivered over networks, are all factors projected to present new opportunities for market expansion by 2032.
 

High costs of devices may limit product penetration

The majority of network monitoring programs are valued according to the number of endpoints and connected devices. The overall cost of the monitoring system rises as more devices are added, which inhibits network monitoring market growth. Hence, the high cost of network performance monitoring tools has emerged as a significant barrier to progress. However, the leading participants are taking measures to promote technologically sophisticated and relatively affordable devices to lower costs, which is foreseen to enable them to combat this restraint.
 

Growing demand for infrastructure management to boost monitoring equipment market share

The network monitoring equipment industry is expected to grow at 15% rate through 2032. The booming demand for network performance monitoring and infrastructure management is slated to be a primary factor influencing business growth. Furthermore, enterprises around the world are increasingly using monitoring equipment to quickly identify and resolve bandwidth issues that are likely to amplify product demand.
 

Soaring number of businesses are adopting network TAP

The network TAP component type in network monitoring market is poised to observe 15% growth between 2023 and 2032. The network Test Access Point (TAP) is essential for monitoring traffic exchanged in specific data transfers. A growing number of companies are integrating network TAPs between multiple endpoints instead of direct connections to ensure visibility across the overall network infrastructure, which is a major factor contributing to segment progress.
 

Mounting demand for network performance monitoring systems to benefit large enterprises

The large enterprises type valued at over USD 2 billion in 2022. The growth is propelled by the surging significance of these enterprises in catering to the requirement for network performance monitoring systems, which assist IT teams in managing and monitoring network performance, identifying potential threats and mitigating risks that affect business productivity.
 

Burgeoning network complexities to augment 1 & 10 Gbps segment revenues

The 1 & 10 Gbps network monitoring market captured 50% share in 2022 and is slated to observe substantial growth through 2032. The 1 & 10 Gbps network speed range is considered ideal for supporting high-speed communication and optimizing business processes. Companies are enhancing their network capacity due to growing traffic and complexities, resulting in network stress and poor service quality, which is expected to influence industry demand.
 

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Growing uptake of AI and ML devices to increase product usage in industrial applications

The industrial application segment crossed USD 400 million in 2022 and is set to witness substantial growth from 2023 to 2032. The increasing adoption of IIoT, AI, and ML devices in the manufacturing sector is projected to bolster industry expansion. These devices automate manufacturing processes and provide real-time data pertaining to the control system. Furthermore, companies are integrating these devices with operational technology to optimize productivity and realize predefined business output.
 

Development of advanced technologies in Asia Pacific

The APAC network monitoring market size is poised to attain 15% gains through 2032. This is attributed to the extensive advancement of modern technologies in the region, which allows enterprises to implement new technologies. In addition, the prevalent acceptance of IoT for industrial applications in countries, such as China, Japan, and India, is expected to support regional industry outlook.
 

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Strategic collaborations to define the strategic landscape

Key companies operating in the network monitoring industry are Garland Technology, IBM Corporation (SevOne, Inc.), LiveAction, Inc., Viavi Solutions, Inc., IBM Corporation (SevOne, Inc.), Garland Technology, LLC, Riverbed Technology, Inc., Arista Networks, Inc., Juniper Networks, Inc., and SolarWinds Worldwide, LLC, among others. These enterprises are focused on strengthening their market presence through collaboration with other firms.
 

COVID-19 impact on network monitoring business trends trends

The COVID-19 pandemic brought about a significant change in the priorities, policies, and pursuits of people, groups, and governments. These modifications turned out to be a catalyst for innovation and technology. Work-from-home policies and other COVID-19-related lifestyle changes increased the demand for network monitoring software, remote asset management, workforce tracking, and remote employee collaboration. Additionally, many companies accelerated the implementation of IoT projects, and regulatory changes, such as stricter cleaning and tracking standards for businesses, impelling the implementation of IoT in smart buildings, which has positively influenced growth of network monitoring market.
 

This market research report on network monitoring includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

Market, By Component

  • Monitoring Equipment
    • Network Monitoring Switch
    • Network Terminal Access Point (TAP)
  • Software Platform
  • Service
    • Professional Services
    • Managed Services

Market, By Enterprise Size

  • Large Enterprises
  • SMEs

Market, By Network Speed

  • 1 and 10 Gbps
  • 40 Gbps
  • 100 Gbps
  • 400 Gbps

Market, By Application

  • IT & Telecom
  • BFSI
  • Healthcare
  • Energy & Utility
  • Government
  • Retail
  • Industrial
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
  • Asia Pacific
    • China
    • Japan
    • India
    • ANZ
    • South Korea
    • Southeast Asia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Colombia
  • MEA
    • South Africa
    • Saudi Arabia
    • Israel
    • UAE

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of network monitoring surpassed USD 2 billion in 2020 and will exhibit a CAGR of more than 10% from 2021 to 2027, says this GMI report.
The industrial application surpassed USD 400 million in 2022 and is set to witness substantial growth through 2032. The increasing adoption of IIoT, AI, and ML devices across the manufacturing sector is projected to boost segment growth.
The Asia Pacific network monitoring market is projected to observe 15% growth during 2023 to 2032 owing to the extensive advancement of modern technologies across countries in the region.
Some leading enterprises operating in the network monitoring business are Garland Technology, IBM Corporation (SevOne, Inc.), LiveAction, Inc., Viavi Solutions, Inc., IBM Corporation (SevOne, Inc.), Garland Technology, LLC, Riverbed Technology, Inc., Arista Networks, Inc., Juniper Networks, Inc., and SolarWinds Worldwide, LLC, among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 19
  • Tables & Figures: 475
  • Countries covered: 22
  • Pages: 290
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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