Network Management Solutions Market Trends

Growth Drivers

Rising Demand for Network Security Solutions – The rise in the number of cyber-attacks on organizations has caused massive social and economic damage. As a result, companies have started to increase their security investments. For instance, in the year 2018, a mega breach was reported which involved ~1 million compromised records, costing for approximately USD 39 million.

Growing Trend of Bring Your Own Device (BYOD): It has been observed that, in 2022, more than 80% of companies have some kind of BYOD policy and ~75% of employees use their personal phones for work purposes, calling for strong network management solutions.
Increasing Cloud-based Storage – For instance, the total amount of data stored in the cloud globally is projected to reach ~50% by 2025, up from about 25% data stored in the cloud in the year 2015.
Upsurge in Data Generation – It is estimated that, in 2022, the amount of data produced every day is approximately 2 quintillion bytes.

Challenges

Concern of Increasing Data Breaches – it was found that, in 2018, the global average cost of stolen record, containing sensitive and confidential information, grew by more than 4.5% from 2017.
Complexity in handling increasing traffic moving in various directions from devices
Challenges to Abide by the Changing Regulatory Landscape

Network Management Solutions Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	9.6%
Base Year Market Size (2023)	USD 8.23 billion
Forecast Year Market Size (2036)	USD 27.1 billion
Regional Scope	North America (U.S., and Canada) Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific) Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Latin America (Mexico, Argentina, Brazil, Rest of Latin America) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of network management solutions is assessed at USD 8.86 billion.

Network Management Solutions Market size was over USD 8.23 billion in 2023 and is anticipated to reach USD 27.1 billion by 2036, witnessing around 9.6% CAGR during the forecast period i.e., between 2024-2036. Increasing number of internet users along with rising digitization as well as growing e-commerce will drive the market growth.

North America industry is expected to dominate majority revenue share by 2036, impelled by presence of a strong information technology (IT) infrastructure in the region, along with a growing number of virtual private networks (VPNs) responsible for the adoption of network management solutions.

The major players in the market are Accedian Networks Inc., BMC Software, Inc., Cisco Systems, Inc., Broadcom, Inc., ExtraHop Networks, Inc., Nokia Corporation, IBM Corporation, HelpSystems, LLC, Micro Focus, LiveAction and others.

Network Management Solutions Market Trends