Network Management Market A Detailed Study on Business Strategies, Development Factors, Future Trends, Opportunities, and Demand Outlook till 2031

Kenneth Research, in its repository of market research reports, have recently added a report on Network Management Market  which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Network Management Market  is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Network Management Market products.

The Network Management Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market Synopsis of Network Management Market

Market Scenario

The network management market basically refers to management of computer networks. It comprises of various solutions and services in order to maintain a smooth management of network. Major driving factors of the network management market include increased network complexity and growing implementation of virtualization in order to transform network management. Also, increasing demand for cloud monitoring is expected to drive the growth of the global network management market.

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Avaya Inc., Alcatel-Lucent S.A., IBM Corporation, Juniper Networks Inc., Cisco Systems Inc., Aruba Network Inc., and CA Technologies Inc. are a few major players in the global network management market. SolarWinds simplifies enterprise network management with their new products. These new SolarWinds offerings such as selecting, deploying and integration of software build on the comprehensive, single-pane-of-glass visibility in order to simplify large-scale network management. These products provide the end users with everything needed to manage and monitor networks in a seamlessly integrated solution.

Also, growing demand for network management solutions and services from small and medium enterprises is set to drive the growth of the network management market. Increasing usage of IP video, data centers and virtualization is one major factor responsible for fueling the growth of the global network management market. Also, emergence of artificial intelligence is another major factor boosting the market growth. Moreover, growing need for optimization of business operations is another major factor responsible for driving the growth of global network management market.

The North America region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North America market due to rising technological enhancements and growing dependency on computer technology in the region. Moreover, the region has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the rising emphasis on demand for network services is another major factor driving the growth of the network management market in the region.The global network management market is expected to grow at a CAGR of approximately 9% during the forecast period 2017-2023.

Global Network Management Market

Key Players

Some of the prominent players in the global network management market are Avaya Inc. (U.S.), Alcatel-Lucent S.A. (France), IBM Corporation (U.S.), Juniper Networks Inc. (U.S.), Cisco Systems Inc. (U.S.), Aruba Network Inc. (U.S.), CA Technologies Inc. (U.S.), Netscout System, Inc. (U.S.), Solarwinds Worldwide, LLC. (U.S.), BMC Software, Inc. (U.S.) and Compuware Corporation (U.S.) among others.

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The global network management market is segmented by component, organization size and vertical. Based on the component, the market is segmented into solution and service. The solution segment is further classified into network performance monitoring and management, IP address management, network traffic management, network device management, network configuration management, network security management and others. The service segment is further classified into consulting services, integration services, support services and others. Based on the organization size, the market is segmented into SMEs and large enterprises. Whereas, based on the vertical, the market is segmented into BFSI, healthcare, education, media & entertainment, travel & tourism, defense, government, and others.

Regional Analysis

The global network management market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The growth of the market in North America is attributed to technological advancements and increased adoption of artificial intelligence applications across various industry verticals.

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Intended Audience

Technology Investors

Research/Consultancy firms

Government Bodies

Network Management solution vendors

Network Management platform providers

Information Technology (IT) developers

Third-party vendors

Consulting service providers

Telecom operators

Internet service providers

Technology providers

System integrators

Cloud service providers

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