Network Management Market Overview:
The latest study from Maximize Market Research, Network Management Market 2021-2027, is helpful in understanding the market's competitors. The study takes a wide and basic look at the market, as well as a look into subjective variables that could give readers valuable business insights. The study includes a market overview that covers the value chain structure, regional analysis, applications, market size, and forecast (2021-2027). The study will be used to get a more accurate assessment of the existing and future state of the Network Management market.
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Estimated Growth of Revenue:
Global Network Management Market size was valued at US$ 8.56 Bn. in 2021, Software Component is the dominating segment in the Network Management Market.
Network Management Market Scope:
Throughout the projected period, the study analyses a variety of factors, including worldwide Network Management market growth, consumer volume, market trends, and corporate pricing structures, in order to provide an analytical evaluation of the industry. The report provides in-depth analysis of the market's complexities. Market features, product differentiation analysis, market size, client landscape, and regional landscape are all included in the research. The report considers development direction, current trends, breakthroughs, predictions, and the competitive environment in its research. This market has been explored in a variety of categories based on profitability and industrial base.
Network Management Market Dynamics:
By the advanced technologies, it is seen that almost everything is hosted on servers, and storage of information on the servers needs to be transferred from one place to another, as per the requirement, resulting in the generation of the Internet Protocol (IP) traffic. The Internet Protocol traffic or web traffic is also known as the flow of data across the internet, or in certain network links. The networking giant, Cisco forecast that the network traffic is expected to reach 3.3 zettabytes (1 Zettabyte = 1e+12 Gigabytes) by the year ending of 2021. This rise in network traffic necessitates proper management of network systems, which is paving the growth for the market of network management service providers, across the globe.
The network management system helps administrators with the tools necessary for the maintenance and service of the enterprise network without any physical intervention.
Network Management system manages the complex network from the data center to the network edge through integrated wired and wireless management competencies, automatic alerts for network issues, and compatibility with devices across vendors. These benefits of network management fuel the growth of product demand across the globe.
Free and open-source network management tools are one of the prime concerns for network management system solution providers and are expected to hamper the overall network management market growth across the globe. Besides this, the emergence of the cloud approach and penetration of IoT devices within the enterprise's network is expected to create lucrative opportunities for the network management market during the forecast period.
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Network Management Market Segmentation:
Based on the Component, the Network Management Market is segmented into Software, and Services. The Software segment held the largest market share accounted for 59% in 2020. Software network management is scalable for network structures of several sizes, in an increasingly digital world. This system is used to centrally monitor, manage, and organize industrial networks, including security-related areas, which fuels the network management market growth for this segment.
The Service segment is expected to witness significant growth at a CAGR of 8.76% during the forecast period. Growing demand for network management training & consulting services in organisations along with low investment to improve network management capabilities drives the management decision growth for this segment.
Based on the Organisation Size, the Network Management Market is segmented into SMEs and Large Enterprises. The SMEs segment held the largest market share accounted for 53% in 2020. The SMEs business benefit from network management services to have the latest device and software updates, monitor the well-being of devices, and safeguard security. The increasing demand for lower costs in the management processes, enhanced employee engagement and productivity, and the future scalability potential of small and medium-sized enterprises (SMEs), resulting in rapid product demand.
Network Management Market Leading Companies:
It then goes into great detail on the major rivals in the Network Management market, as well as developing companies, including revenue, demand, high-quality product producers, sales, and service providers. The study also looks at capacity utilisation, raw material sources, import-export, the value chain, pricing structure, and the industrial supply chain. This report features the following players:
• Huawei • Juniper Networks • Solar winds • CA Technologies • NETWCOUT • Riverbed Technology • BMC Software • Micro Focus • Flowmon Networks • Manage Engine • Live Action • Ericsson • Extreme Networks • eG Innovations • Opmantek
Based on various types of commodities, applications, end-users, and nations, among others, the research gives detailed insights into multiple development prospects and obstacles in the above-mentioned locations. Key elements of the Network Management market, such as sales growth, product pricing and analysis, growth potential, and solutions for addressing market challenges in certain areas, are also included in the study.
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COVID-19 Impact Analysis on Network Management Market:
COVID-19 is a global public health emergency that has damaged almost every firm, and the long-term effects are likely to have an impact on industry growth during the projection period. Our ongoing research widens our research methods to incorporate basic COVID-19 problems as well as possible future steps. The study considers changes in consumer behaviour and demand, purchasing patterns, the dynamics of modern market forces, and significant government efforts while analysing COVID-19. The updated research includes market insights, analysis, estimates, and predictions based on COVID-19's impact.
Key Questions Answered in the Network Management Market Report are:
- Who are the key players in the Network Management industry?
- In terms of the region, what is the potential market for Network Management Market ?
- In the next five years, which application area of Network Management is likely to develop at a substantial rate in the market?
- What opportunities do new market entrants have?
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