Network Performance Monitoring Market worth over $5bn by 2026
Published Date: March 17, 2020 Authors: Preeti Wadhwani, Sachin Kasnale
Network Performance Monitoring Market size is set to surpass USD 5 billion by 2026, according to a new research report by Global Market Insights, Inc.
Network performance monitoring is a process of measuring, diagnosing, and optimizing different network parameters such as bandwidth, throughput, and latency to deliver improved network performance to users. It enables enterprises to evaluate and track their network infrastructure performance on a regular basis using network monitoring equipment. It helps enterprises to improve their productivity by reducing network downtime.
The increasing demand to continuously monitor network performance to support mission-critical enterprise operations is fueling the market growth. The need to quickly resolve network downtime to support different networking operations across the enterprises is another factor contributing significantly to the network performance monitoring market revenue. Network performance monitoring also enables enterprises to manage uniform network performance to support different technologies such as cloud and IoT.
Large enterprises are adopting network performance monitoring to ensure efficient operations of their vast network infrastructure
The large enterprises segment is expected to hold a network performance monitoring market share of over 60% by 2026 propelled by growing demand to monitor several wireless network devices connected to the enterprises’ network infrastructure. The increasing Bring-Your-Own-Device (BOYD) trend in large enterprises is also fueling market growth.
The network infrastructure of large enterprises is composed of several networking components and takes more time in troubleshooting in case of any network issue. Network monitoring helps in reducing the troubleshooting time for network infrastructure by providing a real-time performance of network components.
Network monitoring software platform held the highest market share
Network performance monitoring software market dominated over 50% revenue share in 2019 due to demand for remotely monitoring different network performance parameters such as traffic flow and bandwidth utilization.
The enterprises are focusing on remotely analyzing different network components and their performance on a single console to take corrective action. The network performance monitoring software helps to fix issues more quickly by providing a clear visualization of live network maps of the enterprises’ network infrastructure.
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Network performance monitoring software provider companies operating in the market are focusing on introducing innovative network monitoring software platforms for complex cloud environments. For instance, in July 2019, Datadog, a network monitoring & analytics platform provider, released a Network Performance Monitoring Platform to monitor network connections, containers, and data flows in complex cloud environments. This new launch helped the company to enhance its capability in network monitoring by acquiring cloud-native enterprise customers.
Browse key industry insights spread across 260 pages with 378 market data tables and 31 figures & charts from the report, “Network Performance Monitoring Market Size By Component (Monitoring Equipment [Network Monitoring Switch, Network TAP], Software Platform, Service [Professional Services, Managed Services]), By Enterprise Size (Large Enterprises, SMEs), By Network Speed (1 and 10 Gbps, 40 Gbps, 100 Gbps, 400 Gbps), By Application (Government, IT & Telecom, BFSI, Healthcare, Energy & Utility, Retail, Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Enterprises are rapidly shifting toward Ethernet-based network infrastructure
The 400 Gbps segment in the network performance monitoring market is predicted to expand at over 35% CAGR through 2026 impelled by rising adoption of ethernet-based networks. The ethernet networks deliver agile and low latency solutions along with improved scalability.
The enterprises are rapidly deploying an ethernet-based network on account of their superior stability and reliability. The ethernet network offers better control and security compared to traditional network infrastructure. The increase in the demand for high-speed ethernet switches to monitor network performance is supporting the market size.
Rising adoption of network devices in the retail industry is supporting the network performance monitoring market growth
The retail segment is slated to register more than 10% growth during the forecast timeline led by growing adoption of networking devices across the retail stores. Retailers are using network monitoring solutions to ensure e-commerce services and underlying network infrastructure are fast, optimized, and available.
The increasing digitalization across the retail supply chain to visualize the entire supply chain operations from a single console is resulting in the growing adoption of network monitoring services in the retail industry. Network monitoring allows retailers to proactively detect network security issues and take corrective actions to avoid any financial losses. The growing adoption of networking devices across the retail sector is supporting the market revenue.
North America led the network performance monitoring market in 2019
North America held a market share of over 30% in 2019 owing to rising adoption of wireless network infrastructure across the region. For instance, according to the International Telecommunication Union (ITU), a specialized agency of UN responsible for issues on ICT, 70% population in North America was using the internet in 2018.
The growing internet penetration is enabling enterprises to shift toward wireless network infrastructure. The rising adoption of new data center technologies such as cloud and virtualization are supporting the market growth in the region.
Cloud communication service provider companies operating in the market are emphasizing on strategic partnerships with network performance monitoring solution providers to monitor their network infrastructure in real-time.
Major market players are emphasizing on continuously upgrading their solutions
Companies operating in the network performance monitoring market are focusing on introducing new solutions to monitor cloud-based network infrastructure. For instance, in October 2018, Riverbed released a new version of its Digital Experience Management (DEM) solution with Network Performance Management (NPM) capability. This upgrade helped the company to deliver a network monitoring solution for cloud-based network architecture.
Major industry players include Accedian Networks, Inc., Apcon, Inc., AppNeta, Inc., Big Switch Networks, Inc., Broadcom, Inc., Cisco Systems, Inc., Colasoft, ExtraHop Networks, Inc., Garland Technology, LLC, Gigamon, Inc., IBM Corporation, Ixia (Keysight), Juniper Networks, Inc., LiveAction, Inc., Logic Monitor, Inc., NETSCOUT Systems, Inc., Riverbed Technology, Inc., SevOne, Inc., and Viavi Solutions, Inc.