Network Management Solutions Market Research | Industry Trends & Size to Hit USD 18 Billion by 2031
Global network management solution market expansion is being driven by the use of SDN by organisations and rising network security need.
PORTLAND, PORTLAND, OR, UNITED STATES, April 17, 2023 /EINPresswire.com/ — The network management solutions market was assessed at $7.1 billion in 2021, and by 2031, it is anticipated to have grown to $18 billion, with a CAGR of 9.9%.
Computer networks need to be outfitted, detected, monitored, and maintained. Network administration is essential for maintaining regulatory standards for the network and managing configurations. Network changes can be validated in a coordinated and regulated manner with the help of a network management system. Along with information like versions and install dates, it also enables the solution to list the installed solution on nodes.
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Network Management Solutions Market Dynamics:
The network management solutions market is being driven by several factors. One key driver is the increasing complexity of networks, which has led to a growing need for solutions that can automate and streamline network management processes. Additionally, the rise of cloud computing and the Internet of Things (IoT) has increased the demand for solutions that can manage and monitor networks across multiple locations and devices. Another driver is the growing emphasis on cybersecurity, which has led to a need for solutions that can provide robust security features and protect networks from cyber threats. Moreover, the adoption of software-defined networking (SDN) and network function virtualization (NFV) is driving the need for network management solutions that can support these technologies and enable efficient network virtualization.
Finally, there is a growing trend towards network automation, which involves using artificial intelligence (AI) and machine learning (ML) to automate network management processes. This trend is driving the development of network management solutions that can provide intelligent automation capabilities, improving efficiency and reducing the risk of errors. Overall, these drivers are shaping the network management solutions market, making it more automated, secure, and efficient.
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Network Management Solutions Market Trends:
The network management solutions market is experiencing several trends that are shaping its future. One key trend is the adoption of cloud-based solutions, which offer scalability, flexibility, and cost savings to users. Cloud-based solutions also enable real-time monitoring and analysis of network data, improving efficiency and reducing downtime. Another trend is the increasing use of artificial intelligence (AI) and machine learning (ML) in network management solutions. These technologies enable predictive maintenance, which can help network administrators anticipate network issues and reduce downtime. Additionally, the adoption of Internet of Things (IoT) devices is enabling the collection of real-time data from network assets, further improving the accuracy and effectiveness of network management.
The rise of mobile technology is also impacting the network management solutions market, as mobile devices enable network administrators to access and manage networks on the go, improving efficiency and reducing errors. Finally, there is a growing focus on network automation, which involves using AI and ML to automate network management processes. This trend is driving the development of network management solutions that can provide intelligent automation capabilities, improving efficiency and reducing the risk of errors. Overall, these trends are reshaping the network management solutions market, making it more data-driven, mobile, and automated.
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This report gives an in-depth profile of some key market players in network management solutions industry CA Technology, Cisco, Cubro Network Visibility, Ericsson, Huawei, IBM Corporation, Juniper Networks, Kaseya Co. Ltd., Live Action, Manage Engine, Micro Focus, NETSCOUT Systems, Nokia, Pasessler, Progress, and Zoho Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the market globally.
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