The global network monitoring market size is expected to reach USD 3.8 billion by 2030, according to a new study by Polaris Market Research. The report "Network Monitoring Market Share, Size, Trends, Industry Analysis Report, By Offering (Equipment, Software & Services); By Bandwidth (1&10 Gbps, 40 Gbps, 100 Gbps); By End-Use (First-Party, Liability Coverage); By Technology (Ethernet, Fiber Optic, InfiniBand); By Region; Segment Forecast, 2022-2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
As more corporate operations go online, businesses must upgrade their networks to provide bandwidth and new capabilities. In addition to managing standard IT applications, networks are increasingly required to offer a variety of commercial services, such as video conferencing and telephony, which require additional network capacity. The introduction of new services to shared network infrastructure also requires the addition of IP virtualization features, multicasting protocols, and autoconfiguration protocols for new endpoint devices.
The costs of fines, compliances, repairs to hardware and software, and third-party increasing the network's overall productivity are also crucial. The firms that provide network equipment are working to provide a completely redundant network from beginning to end, but this is frequently not practicable. This could result from architectural restrictions, a lack of physical redundancy, or budgetary constraints that prevent a fully redundant strategy.
Network issues, server outages, service outages, and application breakdowns can substantially jeopardize a company's ability to continue operating and result in losses of thousands of dollars in revenue and productivity. Therefore, by resolving errors before they become a problem, one can improve service and save money using network monitoring tools.
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A larger market share for network monitoring tools is projected for the Asia Pacific over the forecast period. This is due to the region's rapid digitization and IT infrastructure development. China is the region's largest market, and SMEs are using network monitoring solutions at a rising rate to provide dependable, secure, and effective operational environments.
Network Monitoring Market Report Highlights
Polaris Market Research has segmented the network monitoring market report based on offering, bandwidth, end-use, technology, and region:
Network Monitoring, Offering Outlook (Revenue - USD Billion, 2018 - 2030)
Network Monitoring, Bandwidth Type Outlook (Revenue - USD Billion, 2018 - 2030)
Network Monitoring, Technology Type Outlook (Revenue - USD Billion, 2018 - 2030)
Network Monitoring, End-use Outlook (Revenue - USD Billion, 2018 - 2030)
Network Monitoring Market, Regional Outlook (Revenue - USD Billion, 2018 - 2030)