One of the biggest challenges in front of businesses is to secure their network infrastructure from rising cyber-attacks. Cyber threats cause various performance-related issues in networks. Network performance monitoring tools are primarily designed for analyzing network performance. However, these tools also offer built-in features to help keep track of network security. Network performance monitoring tools help combat potential threats and various security risks. For instance, one of the most common cyber-attacks is the DDoS attack that businesses have to deal with. A DDoS attack floods the network with fabricated information in an attempt to overload the system and crash it. Network performance monitoring tools come equipped with the capability to monitor the network bandwidth at any given time, and also alert the company when high spikes in network traffic occur. Thus, small- and mid-sized businesses are continuously adopting these tools to combat security threats, thereby expanding the network performance monitoring market size.
Network Performance Monitoring Market Trends
Need for Robust Network Monitoring & Uninterrupted Network Services: Networks are the backbone of every industry. Businesses rely on networks, whether they're on-site or remote. Ensuring continuous availability with good health is crucial for uninterrupted business operations. Loss of productivity during a network outage can result in huge losses for every size of organization. Network performance monitoring tools help businesses anticipate potential outages and address any issue proactively. These tools help businesses monitor the performance of any IP-based device by remotely visualizing the system performance and monitor network services, bandwidth utilization, switches, routers, and traffic flow, and solve network issues proactively and prevent any network outage. Thus, to offer uninterrupted network services to customers, ISPs are continuously adopting these monitoring tools, which bodes well for the growth of the network performance monitoring market in the future.
Rising Adoption of IoT Technology to Support Market Growth: With rapid advancements in technologies, the adoption of smartphones, IoT, and connected devices is increasing. Governments are undertaking smart city projects, which, in turn, is increasing the adoption of IoT devices. Various IoT-connected devices such as sensors and IP-cameras add traffic to city networks. Network performance monitoring tools allow IT operation and network managers to understand the performance of applications and network & infrastructure components remotely. These tools give city network managers a clear picture of network traffic flow, which helps them determine any anomalous activity within the network. Network performance monitoring tools not only monitor network components but also identify performance optimization opportunities. This is conducted via diagnostics, analytics, and debugging capabilities, to complement the additional monitoring of complex IT environments.
Regional Outlook of Network Performance Monitoring Market
In terms of value, North America led the global network performance monitoring market share in 2019, with the presence of a number of key players in the region. Developing regions such as South Asia & Pacific are expected to record the highest growth rates over the forecast period, owing to increasing adoption of network performance monitoring tools among ISPs and telecom service providers. Rising security concerns and growing enterprise networks are key factors that are predicted to ensure the development of the network performance monitoring market in this region in the coming few years.
Impact of COVID- 19 Outbreak on Network Performance Monitoring Market
The COVID-19 pandemic has compelled many organizations to adopt new practices such as remote working. The world is focused on both, the economic and health threats brought about by the COVID-19 outbreak. There has been significant increase in network traffic as a result various lockdown measures. During the pandemic, most businesses are relying on data connectivity. Internet connectivity is essential to continue business as usual, until the world of business returns to a new normal. Hence, most ISPs are deploying network monitoring tools to provide reliable and uninterrupted Internet connectivity. According to this PMR study, the demand for network performance monitoring will increase in 2020 by 8% - 10% from organizations.
A comprehensive view of the network performance monitoring market has led our analysts to conclude that, the market is growing at a significant rate. Regions such as North America and Europe hold a large part of the global network performance monitoring market share. Alliances with other tech providers along with regional expansion are some strategies being opted by key players to fuel their sales growth.
Network Performance Monitoring Market- Scope of the Report
Persistence Market Research (PMR) recently published a new research analysis on the network performance monitoring market for the assessment period of 2020-2030. The research study offers a close look at the evolving aspects of the network performance monitoring market, as well as the dynamics impacting market growth. The research study focuses on key developments that have made their mark in the network performance monitoring market, and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having an in-depth impact on the growth of the network performance monitoring market.
A direct market overview provides the growth scenario and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the network performance monitoring market during the forecast period. This report also includes a COVID-19 pandemic impact on the network performance monitoring market. This report includes a detailed and considerable amount of information, which will help new providers in the most comprehensive manner for better understanding.
Several stakeholders in the network performance monitoring market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the report also helps new market entrants expand their bases in the network performance monitoring market.
The report elaborates the historical and current trends molding the growth of the network performance monitoring market. The performance journey of the network performance monitoring market has been drawn and analyzed in way that the lucrative side of the market is evident to readers. The competitive landscape presented in the network performance monitoring market report gives a detailed outlook of the profiles of key companies operating in the market, along with their differential strategies and key focus areas.
Network Performance Monitoring Market: Segmentation
PMR’s research study on the global network performance monitoring market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the network performance monitoring market has been offered on the basis of component, enterprise size, end user, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
Network Performance Monitoring Market: Key Questions Answered in the Report
The research study on the network performance monitoring market offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. Insights offered in the network performance monitoring report answer some of the most salient questions that assist stakeholders in gauging all the emerging possibilities.
Network Performance Monitoring Market: Research Methodology
A unique and promising research methodology forms the base of the network performance monitoring market report for the forecast period. The report has been prepared after comprehensive analysis of market happenings, and then, riveting insights have been compiled meticulously. The research methodology of the network performance monitoring market has been a two-step process that comprises primary and secondary research. Key stakeholders such as network performance monitoring tool providers and distributors have been interviewed, along with experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.
Secondary sources referred to garner report findings include investor presentations of manufacturers, annual reports, World Bank, and many other credible sources.