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Network Monitoring Market Size

Report ID: GMI3015
Published Date: Dec 2022
Report Format: PDF

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Network Monitoring Market Size

Network Monitoring Market size surpassed USD 3 billion in 2022 and is projected to record 14% CAGR during 2023 to 2032 driven by the increasing inclination of industries towards cloud-based solutions.

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Recent advancements in cloud computing technologies to offer seamless physical and virtualized network monitoring solutions have stimulated the industry's gradual transition to cloud-based solutions. The rapidly increasing number of IoT and BYOD devices causing strain on modern networks has surged the need for effective network monitoring tools. The industry is anticipated to grow significantly as a result of the exponential development of network traffic. Furthermore, expanding mobile access and an increase in content delivered over networks, are all factors projected to present new opportunities for market expansion by 2032.

Network Monitoring Market Report Attributes
Report Attribute	Details
Base Year:	2022
Network Monitoring Market Size in 2022:	3 billion (USD)
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	14%
2032 Value Projection:	12 billion (USD)
Historical Data for:	2018 to 2022
No. of Pages:	290
Tables, Charts & Figures:	475
Segments covered:	Component, Enterprise Size, Network Speed, Application
Growth Drivers:	Growth in the adoption of IoT and BYOD devices Rising popularity of SaaS-based network monitoring solutions Demand for continuous network monitoring due to rise in network complexities and security concerns Increasing network stress due to exponential rise in cloud traffic Surging demand for resilient network monitoring systems to quickly resolve downtime issue
Pitfalls & Challenges:	High initial investments Availability of free network monitoring tools Compatibility issues due to prevalence of legacy systems

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of network monitoring surpassed USD 2 billion in 2020 and will exhibit a CAGR of more than 10% from 2021 to 2027, says this GMI report.

The industrial application surpassed USD 400 million in 2022 and is set to witness substantial growth through 2032. The increasing adoption of IIoT, AI, and ML devices across the manufacturing sector is projected to boost segment growth.

The Asia Pacific network monitoring market is projected to observe 15% growth during 2023 to 2032 owing to the extensive advancement of modern technologies across countries in the region.

Some leading enterprises operating in the network monitoring business are Garland Technology, IBM Corporation (SevOne, Inc.), LiveAction, Inc., Viavi Solutions, Inc., IBM Corporation (SevOne, Inc.), Garland Technology, LLC, Riverbed Technology, Inc., Arista Networks, Inc., Juniper Networks, Inc., and SolarWinds Worldwide, LLC, among others.