By the end of 2033, it is anticipated that the Network Performance Monitoring Market would have increased to US$ 5.46 Billion from its estimated value of US$ 1.45 Billion in 2022. In 2023, it is predicted that the market for network performance monitoring will be worth US$1.62 Billion. From 2023 to 2033, the market for network performance monitoring is anticipated to expand at a CAGR of 12.9%.
The network performance monitoring market is rapidly expanding due to the increasing demand for effective and efficient monitoring tools. With the growing complexity of modern networks, businesses require reliable and accurate network performance monitoring solutions to ensure seamless operations. The market includes a variety of solutions such as software, hardware, and services that allow companies to monitor network performance, detect issues, and quickly resolve them before they lead to downtime or other costly problems.
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One of the primary drivers of the network performance monitoring market is the shift towards cloud-based services. Cloud computing has become increasingly popular in recent years, and as more businesses migrate their operations to the cloud, there is a growing need for cloud-based network performance monitoring solutions. These tools provide real-time visibility into network performance, allowing businesses to identify and resolve issues quickly, whether they are on-premises or in the cloud.
Another key factor driving the growth of the network performance monitoring market is the increasing complexity of modern networks. As businesses adopt new technologies and connect more devices to their networks, the network becomes more complex and difficult to manage. Network performance monitoring solutions provide a comprehensive view of the entire network, enabling IT teams to quickly identify and address issues before they become major problems.
Finally, the network performance monitoring market is also being driven by the increasing importance of network security. With the growing number of cyber threats, businesses are investing heavily in security solutions to protect their networks and sensitive data. Network performance monitoring solutions can play a critical role in network security, allowing businesses to detect and respond to security threats quickly.
In conclusion, the network performance monitoring market is poised for significant growth in the coming years. With the increasing complexity of modern networks, the shift towards cloud-based services, and the growing importance of network security, businesses require effective and reliable network performance monitoring solutions to ensure seamless operations. As such, the demand for these solutions is likely to continue to increase, driving innovation and growth in the market.
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Companies Covered in This Report –
- Solar Winds Worldwide LLC
- Business Overview
- Solution Portfolio
- Profitability by Market Segments (Business Segments/Region)
- Key Strategy & Developments
- Niagara Networks
- Ixia (Keysight)
- Profitap HQ B.V.
- Cisco Systems, Inc.
- Juniper Networks
- Microsoft Corporation
- Paessler AG
- Nagios Enterprises, LLC
- Manage Engine (Zoho Corp)
- LogicMonitor, Inc.
- Cubro Network Visibility
- Xena Networks
- Gigamon
- NETSCOUT Systems, Inc.
Key Takeaways from Market Study
- Professional services hold a market share of over 60%; however, demand for managed network services will witness a CAGR of 18.2%.
- Services are expected to register high growth throughout the forecast period, expanding at a CAGR of 15.5% through 2031.
- Germany holds 32% share of the Europe market, driven by high investments in advanced technologies and stringent government rules on end user verticals.
- The U.S. is a high potential market in North America, and is expected to account for more than 78% of the regional market by 2031, supported by rising investments in small/medium-scale enterprises and large enterprises.
- China dominates East Asia, and accounts for over 60% value share on the back of a vast consumer base.
“Increasing reliance of SMEs and large enterprises on network performance monitoring platforms to reduce network complexity and minimize security threats is expected to drive market growth,” says a Persistence Market Research analyst.
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Key Segments of Network Performance Monitoring Market Industry Research
By Component:
- Hardware
- Network Packet Brokers (NPBs) Appliances
- Network Terminal Access Points (TAPs)
- Network Access Control (NAC) Appliances
- Network Performance Monitoring Platforms
- Services
- Professional Services
- Network Consulting Services
- Network Integration Services
- Support & Maintenance
- Managed Services
- Professional Services
By Enterprise Size:
- Network Performance Monitoring for Small & Mid-sized Retailers
- Network Performance Monitoring for Large Retailers
By End Use:
- Network Performance Monitoring for Telecom Service Providers
- Network Performance Monitoring for Cloud Service Providers
- Network Performance Monitoring for Managed Service Providers
- Network Performance Monitoring for Network Service Providers
- Network Performance Monitoring for Governments
- Network Performance Monitoring for Enterprises
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
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