Network Monitoring Market Analysis | 2022-2028

Market Insights

"The global network monitoring market size was estimated at USD 2.31 billion in 2022 and is likely to grow at a CAGR of 7.32% during 2022-2028 to reach USD 3.53 billion in 2028."

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Network monitoring refers to a type of service of an observing system that observes the computer networks for the stoppage and theft of data, if being carried out, and provides a notification to the network's overseer for the same. These monitoring systems analyze large amounts of data incessantly and filter through for any irregularity, if there.

Market Dynamics

Market Drivers

These factors are expected to boost the demand for the market in the coming years:

• Cloud computing, IoT, linked devices, and VoIP have all contributed to the market's expansion.
• To expand their market position, vendors are focusing on providing reliable and uninterruptible real-time network information.
• Telecom providers are investing heavily in the industry to boost modulation in bandwidth and frequency.

Segments Analysis

Component Trends

"The monitoring equipment segment accounted for the largest market share."

The market is segmented as monitoring equipment, software platform, and service. Monitoring equipment held the major share of the market in 2021 and is projected to witness a strong growth rate during the forecast period as it enables businesses to generate performance charts and log files that aid in the enhancement of system capabilities by allowing users to change system settings for optimal performance. Component type network monitoring type is further categorized as network monitoring switch and network terminal access point (TAP). The service monitoring type is further classified as professional services and managed services.

Enterprise Size Trends

"The SMEs segment accounted for the largest market share."

The market is segmented as SMEs and large enterprises. The SMEs segment captures major shares of the market and is anticipated to be the leading segment of the market owing to their widespread adoption of network monitoring solutions. Furthermore, the use of network monitoring by SMEs to optimize their network infrastructure is expected to boost product demand in the market during the forecast period.

Network Speed Trends

"The 1 and 10 Gbps segment accounted for the largest market share."

The market is segmented as 1 and 10 Gbps, 40 Gbps, 100 Gbps, and 400 Gbps. 1 and 10 Gbps segment holds the largest share as well as dominates the market during the assessment period. The network speed range of 1 and 10 Gbps is widely recognized as ideal for enabling high-speed communication and streamlining business processes. As traffic and network complexities continue to grow, companies are increasingly upgrading their network capacity to alleviate network stress and prevent poor service quality, which is expected to drive industry demand.

Application Trends

"The BFSI segment accounted for the largest market share."

The market is segmented as government, IT & Telecom, BFSI, healthcare, energy & utility, retail, industrial, and others. The BFSI segment is anticipated to be the leading as well as fastest-growing segment of the market as BFSI businesses demand a reliable IT infrastructure that meets stringent internal and external service level standards. Furthermore, the bulk of BFSI businesses in the United States are geographically dispersed and deal with a variety of technologies, ranging from legacy systems to hybrid cloud-based solutions.

Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is expected to be the largest as well as the leading region in the market given the rising disposable income and increased usage of IoT and cloud computing technologies. Furthermore, the increasing surge in cyberattacks across several industry verticals has compelled businesses in the region to implement network monitoring solutions in order to secure corporate safety and security while also improving customer service. China and India are the growth engines of the region. North America and Europe are also expected to offer substantial growth opportunities during the assessment period.

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Key Players

The following are the key players in the network monitoring market (arranged alphabetically).

• Apcon
• AppNeta
• Big Switch Networks
• Broadcom, Inc.
• Cisco Systems, Inc.
• Colasoft
• ExtraHop Networks
• Garland Technology
• Gigamon
• IBM Corporation.

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s network monitoring market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Option

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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