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Network Monitoring Market

Network Monitoring Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Information & Communications Technology | Author Name: Mohit

Network Monitoring Market: Overview

The Network Monitoring market was worth USD 2.1 billion in 2021, and it is expected to rise at a CAGR of 10.1 percent over the forecast period. Network monitoring is a service provided by an observing system that observes computer networks for stoppage and data theft and notifies the network's overseer if either occurs. These monitoring systems constantly evaluate vast amounts of data and filter it for any irregularities, if any exist. The growing number of smart city initiatives is encouraging the use of smart energy distribution strategies. According to the Consumer Technology Association, global spending on smart city development will reach USD 34.35 billion by 2020. Furthermore, the United Nations Population Fund estimates that 54% of the world's population, or nearly 3.3 billion people, resided in cities in 2014. By 2030, urban areas will house around 67% of the world's population. In January 2020, the LoRa Alliance said that it would offer numerous demonstrations at Distributech 2020 to make a convincing case for LoRaWAN's use in metering, utilities, and smart city applications.

The growing demand for increasing the performance of mission-critical networks and guaranteeing high network availability is expected to drive market growth. The constant growth of networking technology and new network topologies have made networks increasingly complicated and challenging to administer. Growing technological complexities, such as routing table configuration length, firewall management, and rules & exception policies, have increased the demand for advanced network monitoring systems. Companies cannot afford to forego efficient network administration to save money because it is critical to company success. The cost of downtime, data leaks, and other concerns can soon exceed the expense of updating and maintaining the network. Budget constraints might make it harder to maintain network security. Because of the complexity of today's networks, many firms are devoting substantial time and resources to network monitoring, leaving fewer resources for core business activities.

Network Monitoring Market: COVID-19 Impact

The outbreak and dissemination of COVID-19 have impacted the network monitoring sector. The virus's negative consequences became more frequent in regions where customers, suppliers, or manufacturers do business, as the companies suffered constricted supply or reduced demand, resulting in considerable impacts on the total network monitoring market. This is due to labor constraints, limited manufacturing, delayed purchasing, and supply chain interruptions, combined with cross-border trade prohibitions, resulting in delays in the completion of raw material and component consignments, mainly from China. Several major disruptions occurred in supply chains. Customers, however, appeared to be more affected than network monitoring solution provider organizations. Operators devised solutions to tackle the issues posed by shipping disruptions and factory closures that impede the delivery of network monitoring equipment. However, due to the rigorous travel restrictions, IT engineers had difficulty accessing the essential facilities they were required to monitor. Quarantine restrictions also restricted their physical access to firms to repair hardware issues in the network monitoring infrastructure, if any existed.

Network Monitoring Market: Drivers

Increased Demand for Robust Network Monitoring Systems that can Swiftly Tackle Downtime Issues to Drive Market Growth

When network devices fail, downtime, productivity loss, and even security threats arise. Hardware problems and failures can bring the entire infrastructure to a halt, while excessive CPU or network utilization can grind operations to a halt. These issues can be rapidly discovered and remedied thanks to network monitoring. Network monitoring helps to reduce downtime and hence expenditures for the firm. Many network monitoring solutions also provide value by adding new devices automatically, mapping network topology, and detecting malicious behavior or potential breaches. It is also critical to boosting the network's overall productivity. Companies that provide network equipment are attempting to build a fully redundant network from end to end, but this is not achievable in many circumstances. This could be due to architectural limits, a lack of physical redundancy, or budget constraints that prevent a fully redundant strategy. Network outages, server downtime, and service or application crashes can substantially jeopardize a company's survival, wasting thousands of dollars in sales and productivity. As a result, network monitoring tools can improve service and reduce expenses by resolving issues before they become a problem.

Internet of Things (IoT) proliferation and Bring Your Own Device Phenomenon Driving Market Growth

The Bring Your Own Device (BYOD) phenomenon refers to the provision and usage of personal mobile devices and applications by employees for personal and commercial needs. Because of the increased adoption of BYOD in enterprises, mobile device penetration is fast increasing. Because of the wide range of applications, services, and functions available on mobile devices, a great amount of data is saved on devices and moved to and from them. Most of the information on mobile devices is sensitive, such as usernames, credit card numbers, and passwords. This increased reliance on mobile devices motivates firms to deploy effective monitoring and analytics solutions. In recent years, there has been a large-scale transition to remote working, which has ushered in, even more IoT connections, posing a significant problem for network management teams. Monitoring these networks has become critical as more work gadgets connect to home networks and personal devices connect to corporate networks. As working from home is more common, businesses will need to continue improving their approach to network monitoring by implementing comprehensive monitoring solutions.

Network Monitoring Market: Restraints

Free Network Monitoring Tools are Available to Hamper Market Growth

Network monitoring gives businesses clear insights into network traffic, bandwidth, and operational effectiveness. It aids in addressing all significant difficulties, such as lowering total operational costs, discovering ideal interconnection paths, and offering precise insights into the information flow. Previously, network monitoring technologies were only relevant to the demands of larger enterprises. SMBs, NGOs, non-profits, and smaller companies now have much easier access to network monitoring suites. Administrators at businesses of all sizes are looking for network monitoring solutions to improve their online service. However, there are various free network traffic solutions on the market that network administrators can use to monitor and analyze network traffic and efficiently administer network infrastructure.

Network Monitoring Market: Segment Overview

Data Monitoring Switches to Dominate Market Investment in Network Packet

Investments in network packet broker developments have resulted from a rise in efficient network demand, which is expected to drive network packet broker demand internationally. Factors such as the need for automated and simplified data centers, the increased use of cloud services, the rising trend of utilizing bare metal switches in conjunction with rising bandwidth requirements in data centers, the advancement of NPBs, the increase in multimedia content, and web applications drive the market for network data providers and are expected to boost the network packet broker market during the forecast period. The leading players are concentrating on developing innovative network packet broker solutions for various end-user industry applications.

With Increased Demand for Telecommunication, Telecommunications Industry Dominated Market

Significant growth in the global telecommunications industry is one of the primary reasons driving the network monitoring market. The growing demand for detailed visibility in network infrastructure is also fueling market expansion. With the increased demand for data connectivity, telecommunications infrastructures have undergone tremendous transformation in recent years. The management of these systems has become laborious, not just in terms of architecture and functioning but also scope. Network monitoring allows one to maintain track of telecom infrastructure and spot hardware faults or irregularities that could result in revenue loss.

Network Monitoring Market: Regional Landscape

Asia Pacific to Dominate Market due to Growing Number of Small and Medium-Sized Businesses

Over the forecast period, it is anticipated that the Asia Pacific market will account for the largest revenue share. Network monitoring firms are growing their presence in Asia, where Japan, China, and India are likely to be the primary countries driving the market's growth. Furthermore, the growing number of small and medium-sized businesses and their embrace of digital technologies fuel the demand for network monitoring solutions. Furthermore, the region's expanding internet penetration and the number of internet users generate vast data, driving demand for cloud-based services. All of these metrics necessitate the use of high-performance monitoring systems across data center network architecture. Furthermore, the growing number of people working from home allows telecom and network service providers to implement effective network management systems. This trend is also expected to enhance the market need for network performance monitoring solutions.

Furthermore, escalating IoT-centric cyberattacks in numerous industrial verticals across India are increasing the demand for advanced network monitoring solutions. China is the region's biggest market, with SMEs growing their demand for network monitoring tools to achieve a dependable, secure, and efficient operational environment. Small and medium-sized businesses in China are embracing public and private cloud options as part of their digital transformation goals, while corporations are embracing a multi-cloud, hybrid strategy.

Global Network Monitoring Market: Competitive Landscape

In April 2021, In support of the recent Gigamon Hawk launch, Gigamon, the cloud leader in visibility and analytics, announced a partnership with Riverbed, the leader in network and application performance and visibility. Mutual customers may benefit from Riverbed's leading network performance management (NPM) solutions, which provide unified packet, flow, and device visibility across branch offices, data centers, and hybrid and multi-cloud environments to enhance network and application troubleshooting. Moreover, in December 2021, Viavi Solutions announced that XL Axiata, Indonesia's leading integrated network provider, is employing the VIAVI ONMSi Optical Network Management System to improve visibility into its fiber network. The ONMSi solution's intelligent remote test and monitoring capabilities enable the operator to ensure peak performance, minimize downtime, and maximize subscriber experience.

Few of the players in the Network Monitoring Market include Gigamon (US), Keysight Technologies (US), Netscout (US), Viavi (US), Garland Technology (US), Apcon (US),  Cisco (US), Arista Networks (US), Broadcom (US), Juniper Networks, Inc. (US), Network Critical (UK), Zenoss (US), Calient (US), Netgear (US), LogicMonitor (US), Metadata (US), Colasoft (US), SevOne (US), Accedian Networks (Canada), Riverbed Technology (US), ExtraHop (US), ManageEngine (US), LiveAction (US), Auvik Networks (Canada), Paessler (Germany), Flowmon Networks (Czech Republic), AppNeta (US), Zabbix (Latvia) Solarwinds (US), and Datadog (US).

Global Network Monitoring Market is Segmented as Below:

By Offerings

  • Equipment
  • Network TAPs
  • Data Monitoring Switches
  • Software & Services

By Bandwidth

  • 1&10 Gbps
  • 40 Gbps
  • 100 Gbps

By Technology

  • Ethernet
  • Fiber Optic
  • InfiniBand

By End User

  • Enterprises
  • Telecommunications Industry
  • Government Organisations
  • Cloud Service Providers

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Network Monitoring Market

  • Network Monitoring Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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