Network Management Market is Predicted to Reach US$ 22.8 Billion by 2032 Registering a CAGR of 9.58% During 2024-2032

MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Network Management Market.

Network Management Market Overview

Market Research Future (MRFR), in its published report on network management market discusses dynamics of the network management industry. The global network management system market 2024 can surge at about 9.58% CAGR across 2024 to 2032 . A network comprises computers that are connected to each other. The rise in the need to manage networks to improve productivity can spur the expansion of the network management system market. Network management include activities, methods, and procedures that are used to operate, administer, and maintain networks. The high utility of software and hardware support network management can prompt the network management market.

Network management provide functionalities, such as security management, fault management, performance management, and account management. The rise in the awareness about network management functions can spur the network management market growth. In addition, the significant expansion of the network management market can be attributed to the wide expansion of network and rise in security concerns. The high demand for hefty and resilient network management systems can boost the expansion of the network management market. The substantial increase in the market valuation can be credited to the availability of strategic approaches involved in network management.

Market Segmentation

The network management market segment study is based on vertical, component, and organization size. The component based network management market segments are solution and service. The solution based network management market segments are professional services and managed services. The managed services segment can thrive at a high pace at a significant growth rate in the forecast period. The increased network management adoption by multiple enterprises is observed as the chief factor that can drive the world network management market. The improved timeliness and costs effectiveness of network management solutions, plus the easy availability of corporate communications can spur the rise of the market.

Detailed Regional Study

North America can head the world network management market, reveals study by MRFR. Across the forecast period, North America network management system market can garner the highest share of the world market. Asia Pacific (APAC), MEA, Europe, and Latin America are major factors that are other regional segments of the network management market. The rise of North America market at a considerable high CAGR can be credited to increased adoption of latest technologies and the availability of infrastructure that can aid in virtualization of IT infrastructure and facilitate advanced solutions of network management. The evolution of different technologies, change in customer’s requirements, and increased number of security breaches can drive the expansion of the network management market in the APAC region in the near future. Industrial expansion, rise in urban migration, rise in globalization, high penetration of digital solutions are major factors that can support the rise of APAC network management market in the years to come.

Key Players

MRFR listed some reputed network management market players. They were identified based on origin and regional establishments, product line and innovations, past aspects, and financial status. These players are; Juniper Networks Inc. (U.S.), Avaya Inc. (U.S.), Alcatel-Lucent S.A. (France), IBM Corporation (U.S.), Aruba Network Inc. (U.S.), CA Technologies Inc. (U.S.), Compuware Corporation (U.S.) Cisco Systems Inc. (U.S.), Netscout System, Inc. (U.S.), BMC Software, Inc. (U.S.) and Solarwinds Worldwide, LLC. (U.S.), among others. Strategic partnership, resulting in the introduction of new products can spur the expansion of the network management market.  The report reveals detailed study on the market for 2017 to 2023. Modern research methods were employed in the study of the network management market.