Network Management System Market to be Worth $17.67 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, July 19, 2023 /PRNewswire/ -- The global network management system market size is expected to reach USD 17.67 billion by 2030, growing at a CAGR of 10.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing adoption of network management system (NMS) by data centers to enhance performance and eliminate downtime risks, coupled with rising demand for high Quality of Services (QoS), is expected to drive the market growth over the forecast period.

Key Industry Insights & Findings from the report:

• Based on component, the solutions segment dominated the market in 2022 with a revenue share of over 68.0%. Various solutions offered by network management systems include configuration management, performance management, security management, fault management, and account management. These functions ensure the error-free functioning of the network, which optimizes resources, enhances security, reduces downtime, reduces costs, and increases productivity. These features offered by network management systems market solutions are driving the segment's growth.
• Based on deployment, the on-premise segment accounted for a maximum revenue share of more than 66.0% in 2022. The segment is anticipated to continue its dominance in the overall market over the forecast period. The high share and growth of this segment can be attributed to the enhanced security provided by on-premise deployment. Moreover, on-premise deployment does not require any third-party involvement, which is driving the segment's growth.
• Based on enterprise, the large enterprises segment accounted for the largest revenue share of more than 61.0% in 2022. Large enterprises have a larger network of employees and devices. Many large enterprises also have multiple working locations, which need to be connected through a server. Due to this, large enterprises require a robust network; and a lack of attention to network functioning can lead to significant monetary and productivity losses for companies. Hence, large enterprises are adopting network management systems, thereby propelling the segment's growth.
• Based on vertical, the IT & Telecom segment dominated the market in 2022 and accounted for a maximum revenue share of over 25.0%. The segment is expected to register a significant CAGR and dominate the market over the forecast period. IT and Telecom companies are one of the first adopters of advanced technologies. The growing use of broadband services, 5G services, and increasing cybersecurity threats are driving the adoption of network management systems in the IT & Telecom industry.
• North America accounted for the largest revenue share of more than 32.0% of the market in 2022. The region's growth can be attributed to the growing investments in IT and network infrastructure, 5G rollouts, and aggressive investments made in building data centers.

Read 170-page market research report, "Network Management System Market Size, Share & Trends Analysis Report By Component (Solutions, Services), By Deployment (On-premise, Cloud-based), By Enterprise, By Vertical, By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Network Management System Market Growth & Trends

As the global marketplace continues to expand, enterprises are increasingly getting dependent on networking resources to retain their competitiveness. As such, NMS can help in obtaining complete network visibility, monitoring operational performance, ensuring security, preventing unauthorized access, and performing predictive maintenance activities. Network management systems can significantly reduce downtime, which can lead to cost savings and higher productivity, driving its adoption in the market.

Soaring need for secure and agile infrastructure to operate efficiently in a business environment is predicted to stoke the demand for these services and solutions over the forecast period. Vendors of NMS solutions are also expected to witness significant opportunities over the forecast period as Small & Medium Enterprises (SMEs) continue to deploy wired and wireless LAN infrastructure as a part of their efforts to reduce overall infrastructure costs, ensure easy access to data, and adopt cloud-based solutions.

The outbreak of the COVID-19 pandemic played a vital role in driving the adoption of network management systems. The pandemic had a severe impact on industries. It highlighted the current weaknesses of how industries operated and pushed them to make a digital transformation, which was long overdue. This digital transformation resulted in more scattered workplace networks and promoted businesses to invest more in network management systems.

Network Management System Market Report Scope

Network Management System Market Segmentation 

Grand View Research has segmented the global network management system market based on component, deployment, enterprise, vertical, and region

 Network Management System Market - Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Solutions
• Configuration management
• Performance management
• Security management
• Fault management
• Accounting management
• Services
• Consulting
• Integration & Implementation
• Training, Support & Maintenance

Network Management System Market - Deployment Model Outlook (Revenue, USD Billion, 2017 - 2030)

• On-Premises
• Cloud-Based

Network Management System Market - Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• Large Enterprises
• Small & Medium Enterprises

Network Management System Market - Vertical Outlook (Revenue, USD Billion, 2017 - 2030)

• IT & Telecom
• BFSI
• Government
• Manufacturing
• Healthcare
• Transportation & Logistics
• Retail
• Media & communication
• Others

Network Management System Market - Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Asia Pacific
• China
• India
• Japan
• South Korea
• South America
• Brazil
• Argentina
• Middle East & Africa

List of Key Players in Network Management System (NMS) Market

• SolarWinds Inc.
• IBM Corporation
• Broadcom, Inc. (CA Technology)
• Riverbed Technologies, Inc.
• Cisco Systems, Inc.
• BMC Software, Inc.
• Nokia Corporation
• Juniper Networks, Inc.
• Oracle Corporation
• Paessler AG
• VIAVI Solutions, Inc.,
• NetScout Systems, Inc.
• Colasoft, Inc.
• Huawei Technologies Co. Ltd.
• Hewlett Packard Enterprise Company
• Dell Technologies, Inc.

Check out more related studies published by Grand View Research:

• Private 5G Network Market - The global private 5G network market size is estimated to reach USD 36.08 billion by 2030, registering a CAGR of 51.2% from 2023 to 2030, according to a new study by Grand View Research, Inc. Significantly growing demand for ultra-reliable low-latency connectivity with an extremely secure network across several mission-critical applications, such as public safety, is expected to boost the deployment of private 5G networks during the forecast period. Moreover, a wide range of industries, including manufacturing, oil & gas, mining, and energy & utility, are investing a massive amount in deploying private 5G telecom service to enhance their overall productivity and operational efficiency. As a result, it is expected to foster market growth from 2023 to 2030.
• Virtual Private Network Market - The global virtual private network market size is expected to reach USD 92.60 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 17.4% from 2020 to 2027. The rising level of cybersecurity threats is expected to drive the growth of the market over the forecast period. While high-speed data networks are being rolled out and connected devices are proliferating continuously, data security and privacy protection are emerging as major issues, as people visiting public places are often logging into unsecured Wi-Fi networks. Individuals are particularly targeted by hackers when they enter into vulnerable hotspots and log on to unsecured networks. This is driving the adoption of Virtual Private Networks (VPNs) and leverage the encryption provided by the VPN technology to protect people from malicious activities.
• Wide Area Network Optimization Market - The global wide area network optimization market size is estimated to reach USD 4.88 billion by 2027, registering a CAGR of 9.5% from 2020 to 2027, according to a new study by Grand View Research, Inc. The growing need for efficient network optimization across business organizations is the major factor in driving the market growth. Moreover, in a bid to achieve improved Quality of Services (QoS) and productivity on their existing network, companies across the globe are increasingly deploying network optimization solutions, thereby supporting the market demand.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg