Network Management System (NMS) Market size is set to grow by USD 5.45 billion from 2023-2027, increasing demand for efficient network management boost the market, Technavio

NEW YORK, April 25, 2024 /PRNewswire/ -- The global network management system (nms) market  size is estimated to grow by USD 5.45 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 9.68%  during the forecast period.

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Market Driver

The Network Management System (NMS) market is booming because organizations need better ways to manage their networks. They rely heavily on their networks for tasks like gathering data from devices like switches and routers. NMS helps them keep an eye on their networks in real-time and fix problems quickly. As more businesses move their operations to the cloud, they need NMS that works with cloud systems.

With technology advancing and more devices getting connected to networks, companies are investing in solid NMS solutions to keep their systems safe, reliable, and running smoothly. NMS involves keeping an eye on networks, fixing issues, and making sure everything runs well. That's why the demand for NMS is growing, and the market is expected to keep expanding.

Market Challenges

• Managing modern networks is getting trickier due to their increasing complexity. These networks handle huge amounts of data like traffic flow, device setups, and how well they're working. Plus, with more IoT devices joining the mix, each with its own setup and security needs, it's like juggling multiple puzzles at once.
•  This complexity makes it tough for traditional network management systems (NMS) to keep everything running smoothly. To tackle this, we need smarter NMS solutions that can crunch all this data and spot any problems fast. But because networks are becoming even more intricate, it's slowing down the growth of the NMS market as organizations look for better ways to handle the network chaos.

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Segment Overview 

This network management system (NMS) market report extensively covers market segmentation by  

1. Deployment 
   1. 1.1 On-premises
   2. 1.2 Cloud
2. End-user 
   1. 2.1 Large enterprises
   2. 2.2 SMEs
3. Geography 
   1. 3.1 North America
   2. 3.2 APAC
   3. 3.3 Europe
   4. 3.4 South America
   5. 3.5 Middle East and Africa

1.1 On-premises-  Despite a general decline in demand, the on-premises segment of the Network Management System (NMS) market is growing significantly. This is because some companies prefer to manage their networks on-site due to security, compliance, and control reasons. Although it requires substantial upfront investment and skilled IT staff, many industries still choose this option. Sectors like government, finance, and healthcare, which have strict regulations, particularly favor on-premises NMS. As a result, despite financial challenges, the segment has continued to expand since 2017 and is expected to keep growing in the forecast period.

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Research Analysis

The Network Management System (NMS) market is experiencing significant growth as SMEs and enterprises prioritize network security and optimization for their business operations. Software-defined networking (SDN) technologies, including SD WAN, are driving innovation in NMS solutions. SDN separates the data plane from the control plane, enabling switches and routers to be centrally managed and monitored.

NMS solutions play a crucial role in managing the behavior of branch networks and data centers. Key components include networking, storage, and transportation and logistics. Artificial Intelligence (AI) and Machine Learning (ML) are being integrated into NMS to enhance network performance and predict cybersecurity threats. The adoption rate of NMS in the market is increasing due to the growing use of Online collaboration tools, Cloud services, and 5G networks.

Network Management Systems provide enterprises with valuable insights into their network infrastructure, ensuring efficient and secure business operations. On-premises NMS solutions continue to be popular, while Cloud-based NMS adoption is also on the rise. Cybersecurity threats remain a major concern, making robust NMS solutions essential for businesses.

Market Research Overview

The Network Management System (NMS) market is a significant segment in the technology industry, focusing on providing solutions for managing and optimizing telecommunication and IT networks. NMS enables operators to monitor, control, and maintain their networks efficiently, ensuring high performance, reliability, and security. The NMS market comprises various components, including fault management, performance management, configuration management, and security management.

NMS providers offer on-premises and cloud-based solutions, catering to different business needs and sizes. The market is driven by factors such as increasing network complexity, the need for real-time monitoring, and the growing adoption of IoT and 5G technologies. The NMS market is projected to grow at a significant rate, with major players like Cisco, IBM, and Huawei dominating the landscape.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Deployment 
  • On-premises
  • Cloud
• End-user 
  • Large Enterprises
  • SMEs
• Geography 
  • North America
  • APAC
  • Europe
  • South America
  • Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio