Increasing complexity of networks is one of the biggest concerns faced by most enterprises. Enterprise networks have become more complex due to the adoption of new technologies such as cloud computing and IoT, as well as changing business practices. Organizations are adopting various network monitoring tools to better maintain and control their network infrastructure, which is the main reason driving the growth of the global network performance monitoring market.
As per findings of a new market research report by Persistence Market Research, the network performance monitoring market is projected to exhibit a healthy CAGR of around 12% during the forecast period (2020 to 2030).
Key Takeaways from Network Performance Monitoring Market Study
- Most advanced network performance monitoring tools to reduce network complexity and offer reliable Internet connectivity.
- Among the end users, the cloud service providers segment is expected to witness high growth, due to increasing adoption of monitoring tools for monitoring networks, servers, and applications for multiple enterprise customers.
- Countries across the globe such as the U.S., Germany, China, Japan, the UK, and Russia are witnessing changes at a faster pace, owing to the significant adoption of network performance monitoring tools for securing enterprise data from cyber threats.
- Among the regions, the South Asia Pacific region is exhibiting high growth, owing to rising demand for enterprise networking in small & medium enterprises across the region.
- The COVID-19 pandemic has led to travel and other related restrictions. This has increased the need for monitoring networks remotely, which plays out well for the growth of the global network performance monitoring market.
“The adoption of cloud-based network performance monitoring tools is expected to gain traction in the coming years, as these tools help businesses monitor on-premise, cloud-based, and hybrid data centers, as well as physical devices, from a single platform. The shift toward cloud-based network monitoring tools is creating lucrative opportunities for network application service providers,” says a PMR analyst.
Integration of AI and Predictive Analytics to Propel Growth of Network Performance Monitoring Market
AI has revolutionized the technology world. The introduction of AI in network performance tools offers various benefits, such as anomaly detection, smart log parsing, correlation, and predictive analytics & outliers. Network performance monitors (NPMs) can use AI to examine and respond to performance data. AI helps in monitoring a large amount of data traveling through a network. It also analyzes the data in real time, and provide insights into the information the network sends out and receives. Network AI examines data constantly and also analyzes historic data flow trends to detect and alert about network issues before they occur. AI can also apply solutions to common issues without human input. Thus, increasing benefits of AI in network performance monitoring would propel market growth.
Network Performance Monitoring Market – Competition Landscape
Product launches, enhancements in existing products, acquisitions, and partnerships with niche players are key strategies being followed by leading players in the network performance monitoring market. Some of them are Gigamon, Netscout, VIAVI, Cisco Systems, Apcon, Broadcom, Zenoss, and Juniper Networks, Inc.
Find More Valuable Insights on Network Performance Monitoring Market
Persistence Market Research puts forward an unbiased analysis of the global market for network performance monitoring market, providing historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. To understand the opportunities in the network performance monitoring market, the market is segmented on the basis of component (hardware [network packet broker (NPB) appliances, network terminal access points (TAPs), and network access control (NAC) appliances], network performance monitoring platforms, services, managed network services, and professional services [network consulting services, network integration services, and support & maintenance]), enterprise size (SMEs and large enterprises), end user (telecom service providers, cloud service providers, managed service providers, network service providers, governments, and enterprises), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
For additional insights on how growth of the network performance monitoring market will unfold over the next decade, write to the analyst at email@example.com
About PMR – Electronics, Semiconductor, and ICT Division
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.