Pune, India — 02/05/2018 — Market Highlights
The global network management market is projected to witness a rapid growth during the forecast period owing to increasing emergence of cloud-based technologies and increasing groth in the rate of cybercrimes. Moreover, increasing demand for network management services across various verticals such as BFSI, healthcare, education, media & entertainment, travel & tourism, defense and government is driving the growth of the global Network Management Market.
The global network management market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North America market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of the network management market in North America region owing to the presence of large number of established key players such as Avaya Inc., IBM Corporation, Juniper Networks Inc., Cisco Systems Inc., Aruba Network Inc. and CA Technologies Inc. in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth of the market is also attributed to growth in usage of IP video, data centers and virtualization and growing adoption of network management services by large enterprises. In the global network management market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing implementation of artificial intelligence across different countries in the region.
The global network management market is projected to reach USD 9 billion at a CAGR of over 9% by the end of the forecast period 2017-2023.
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Some of the prominent players in the global network management market are Avaya Inc. (U.S.), Alcatel-Lucent S.A. (France), IBM Corporation (U.S.), Juniper Networks Inc. (U.S.), Cisco Systems Inc. (U.S.), Aruba Network Inc. (U.S.), CA Technologies Inc. (U.S.), Netscout System, Inc. (U.S.), Solarwinds Worldwide, LLC. (U.S.), BMC Software, Inc. (U.S.) and Compuware Corporation (U.S.) among others.
Network Management Market Segmentation
The global network management market is segmented on the basis of the component, organization size and vertical. However, the component segment is classified into solution and service. The solution segment is further classified into professional services and managed services. The managed services segment is expected to grow at a significant rate during the forecast period. Increasing adoption of network management from enterprises is majorly driving the growth of network management market. This is owing to the improved timeliness and lesser costs and availability of corporate communications.
Market Research Analysis
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The market in North America is witnessing a rapid growth due to technological advancements and increasing demand for network services across different industry verticals in this region. The U.S. holds the majority of market share both in terms of revenue as well as owing to the emergence of artificial intelligence.
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– Technology Investors
– Research/Consultancy firms
– Government Bodies
– Network Management solution vendors
– Network Management platform providers
– Information Technology (IT) developers
– Third-party vendors
– Consulting service providers
– Telecom operators
– Internet service providers
– Technology providers
– System integrators
– Cloud service providers
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