The network monitoring market is expected to reach from USD 1.82 billion in 2018 to USD 2.93 billion by 2023, at a CAGR of 9.9% from 2018 to 2023

LONDON, Oct. 15, 2018 /PRNewswire/ -- Demand for continuous monitoring due to rise in network complexities and security concerns to drive growth of network monitoring market

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The network monitoring market is expected to reach from USD 1.82 billion in 2018 to USD 2.93 billion by 2023, at a CAGR of 9.9% from 2018 to 2023. The increasing number of enterprises with strict reliability requirements drives the need for network performance monitoring equipment. Network architecture is growing in complexity and application delivery is becoming more time-sensitive. This demands the need for highly reliable, scalable network monitoring equipment. The need for robust network monitoring capabilities to ensure smooth operations of mission-critical network infrastructure and the need to quickly resolve downtime issues drive the growth of the network monitoring equipment market. However, the availability of free network traffic tools restricts the growth of this market.

Rising concerns for performance monitoring drives network monitoring market for solutions & services
The market for solutions & services is expected to grow at a higher CAGR from 2018 to 2023.Cross-domain management operations, Software as a Service (SaaS)-based network management market, and performance service level agreements in cloud monitoring are expected to redefine traditional network management.

Moreover, increasing network complexity, converging technologies, and growing implementation of virtualization are expected to transform network management technologies, tools, and practices.

Demand for higher speed drives network monitoring market for 100 Gbps bandwidth
The market for monitoring equipment with 100 Gbps bandwidth is expected to grow at the highest CAGR during the forecast period.Although data centers across the world are currently running at 10 Gbps, they are shifting steadily toward 40 Gbps using InfiniBand or Ethernet interconnects.

However, the need for 100 Gbps bandwidth may be needed sooner rather than later, and it will be a standard in development for enabling the transfer of frames at 100 Gbps.

Small & medium-sized enterprises largely contribute to growth of network monitoring market
The market for enterprises is expected to grow at the highest CAGR from 2018 to 2023.The increasing enterprise applications require high-performance connectivity, constant uptime, high throughput, and high reliability to manage a vast amount of data.

To address these requirements, network monitoring is being adopted in enterprises. Large enterprises across different industries have been increasingly adopting digitization to improve their business processes.

Increasing number of small and medium-sized enterprises and growing adoption of digital technologies in APAC drive network monitoring market in this region
The market in APAC is expected to grow at the highest CAGR from 2018 to 2023.Also, the increasing number of small and medium-sized enterprises and growing adoption of digital technologies further drive the demand for network monitoring.

Moreover, the increasing penetration of the Internet and growing population of internet users in the region create a huge volume of data, which, in turn, drive the demand for cloud-based services. All these parameters generate the need for high performing switching solutions across the network infrastructure in data centers.

The breakup of the profile of primary participants has been given below:
• By Company Type: Tier 1 = 30 %, Tier 2 = 45%, and Tier 3 = 25%
• By Designation: C-Level Executives = 35%, Directors = 45%, and Others = 20%
• By Region: North America = 40%, Europe = 30%, APAC = 20%, and RoW = 10%

Gigamon (US), NetScout Systems, (NetScout) (US), Ixia (US), VIAVI Solutions (Viavi) (US), APCON (US), and Garland Technology (US) are among the leading companies in the network monitoring market. Also, a few major companies, namely, Broadcom (US), Juniper Networks (US), Big Switch Networks (US), Zenoss (US), Network Critical (UK), Corvil (Ireland), CALIENT Technologies (US), Netgear (US), and Motadata (US) have also been profiled in the report.

Research Coverage:
The network monitoring market has been segmented by offering, bandwidth, technology, end user, and geography.The market, by offering, has been further segmented into equipment, and solutions & services.

Based on bandwidth, the network monitoring market has been segmented into 1 & 10 Gbps, 40 Gbps, and 100 Gbps.Based on technology, the market has been segmented into Ethernet, fiber optic, and InfiniBand.

The network monitoring market, by end user, has been divided into enterprises, government organizations, telecommunications industry, and cloud service providers. Based on geography, the market has been segmented into the Americas, Europe, APAC, and RoW.

Reasons to Buy the Report:

The report would help the market leaders/new entrants in this market in the following ways:
• This report segments the network monitoring market comprehensively and provides the closest approximations of the sizes of the overall market and subsegments for different applications and across various regions.
• The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities pertaining to the market.

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