Network Performance Monitoring Market Value to Surpass USD 4.2 Billion in 2031
Asia-Pacific held a significant global network performance monitoring market share, due to the region’s expanding 5G and wireless connectivity penetration.
PORTLAND, PORTLAND, OR, UNITED STATES, March 1, 2023 /EINPresswire.com/ — According to the report, the global network performance monitoring market generated $2.1 billion in 2021, and is estimated to reach $4.2 billion by 2031, witnessing a CAGR of 7.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in spending on ICT infrastructure, the rise in demand for efficient network infrastructure, and an increase in internet penetration drive the growth of the global network performance monitoring market. However, increasing erroneous devices and critical metrics, and monitoring over logs of interconnected devices hamper the global market growth. On the other hand, the adoption of machine learning (ML), big data analytics, such as the internet of things (IoT), artificial intelligence (AI), and the rise in need for network visibility and preventing downtime and network failure are likely to create potential opportunities for growth of the global market in the coming years.
Download Sample PDF Report at: https://www.alliedmarketresearch.com/request-sample/32215
Based on component, the hardware segment was the largest market in 2021, contributing to nearly three-fourths of the global network performance monitoring market, and is expected to maintain its leadership status during the forecast period. The same segment is projected to witness the fastest CAGR of 7.5% from 2022 to 2031, due to a rise in network monitoring usage, continuous network services, and an increase in smart home devices.
Based on enterprise size, the large enterprises segment held the largest market share of more than three-fourths of the global network performance monitoring market in 2021 and is expected to maintain its dominance during the forecast period. The same segment is projected to witness the largest CAGR of 7.6% from 2022 to 2031. This is because these enterprises often manage huge data on servers and platforms with well-equipped and maintained network infrastructure. They also take benefit from centralized cloud-based network systems to monitor a large number of offices and business divisions from headquarter locations, which facilitates increased adoption and growth for network performance monitoring.
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/32215
Based on end user, the cloud service providers segment was the largest market in 2021, contributing to one-third of the global network performance monitoring market, and is expected to maintain its leadership status during the forecast period. However, the IT and telecom service providers segment is projected to witness the fastest CAGR of 7.8% from 2022 to 2031, owing to the significant global growth of the telecommunications sector. The demand for comprehensive visibility of network infrastructure is fueling the expansion of the industry.
Based on region, Asia-Pacific was the largest market in 2021, capturing nearly half of the global network performance monitoring market share and lead in terms of revenue during the forecast period. The growth of the market can be attributed to the increase in the trend of small and medium scaled enterprises entering IT services, the surge in urbanization, and a high rate of adoption of mobile communication devices in the region. However, the network performance monitoring market in Europe is expected to manifest the fastest CAGR of 7.4% during the forecast period due to the surge in the use of cloud-integrated mobile and online commerce services in the region.
If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/32215
Leading Market Players –
• Broadcom, Inc.
• Microsoft Corporation
• Profitap HQ B.V.
• Juniper Networks, Inc.
• Keysight Technologies, Inc.
• LogicMonitor Inc.
• Paessler AG
• Nagios Enterprises, LLC
• Cisco Systems, Inc.
• SolarWinds Worldwide, LLC
Key Findings of the Study –
• By component, in 2021, the hardware segment was the highest revenue contributor to the market, with $1,600 million. However, the services segment is estimated to reach $950 million by 2031, at a significant CAGR, during the forecast period.
• By hardware, the network performance monitoring platforms segment was the highest revenue contributor to the market in 2021. However, the network terminal access points (TAPs) segment is estimated to grow with an impressive CAGR, during the forecast period.
• By software, in 2021, the professional services segment was the highest revenue contributor to the market, with $340 million. However, managed services segments are estimated to grow with an impressive CAGR of 5%, during the forecast period.
• By enterprise size, the large enterprise segment was the highest revenue contributor to the market in 2021. However, the SME segment is estimated to grow with an impressive CAGR, as per Network Performance Monitoring Market Analysis.
• By end use, the cloud service providers segment was the highest revenue contributor to the market, with $700 million in 2021. However, other segments are estimated to reach $1,000 million by 2031, at a significant CAGR, during the Network Performance Monitoring Market Forecast.
• Region-wise, the network performance monitoring market growth was dominated by Asia-Pacific. However, North America and Europe are expected to witness a significant growth rate during the forecasted period.
Procure Complete Report (199 Pages PDF with Insights, Charts, Tables, and Figures) at: https://bit.ly/3EJKjag
Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
David Correa
Allied Analytics LLP
+ +1 503-894-6022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
