Network Performance Monitoring Market expected to grow exponentially by 2031 | CAGR of 7.1% In The Latest Research
WILMINGTON, DE, UNITED STATES, July 4, 2024 /EINPresswire.com/ — The Network Performance Monitoring Market Size was at $2.1 billion in 2021, and is estimated to reach $4.2 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.
Every business relies on its networks, and even small or enterprise-level companies can suffer significant losses in production during a network outage. Users may prevent possible outages and take proactive measures to fix network issues with the aid of network performance monitoring technologies. This aids in preserving an uncongested network that keeps customers’ operations functioning smoothly. Network monitoring technologies are useful for doing this. Any IP-based device’s performance may be tracked using network monitoring software, which also enables enterprises to remotely observe system performance and track network services, bandwidth use, switches, routers, and traffic flow. Network optimization assists in boosting performance to the required level once users have recognized network difficulties. These factors have propelled increasing demand for network monitoring systems, assisting in the rising growth of the network performance monitoring market.
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The process of precisely determining traffic patterns, network usage, and other performance indicators is known as network performance monitoring. Good network monitoring solutions provide both quantitative data and graphical aggregate representations of the network’s condition. Users benefit from having a clearer understanding of the events taking place so they can identify areas where modifications may be required.
According to network performance monitoring market research, the network performance monitoring platforms and network terminal access points (TAPs) segments collectively accounted for around 60% market share in 2021, with the former constituting around 33% share. The network access control (NAC) Appliances and network packet brokers (NPBs) appliances segments are expected to witness considerable CAGRs of 8% and 7%, respectively, during the forecast period.
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Region-wise, Asia-Pacific held a significant global network performance monitoring market share, due to the region’s expanding 5G and wireless connectivity penetration, China currently dominates the regional market for North America. The main drivers of the growth of the network performance monitoring market in Asia-Pacific are the rapid advancements in the network as a service (NaaS) technology and the rise in awareness for personalized network design and planning. Moreover, rapid urbanization and an increase in ICT to enhance the network infrastructure and streamline technological network performance management are the primary factors that drive the growth of the network performance monitoring industry in Asia-Pacific, North America, and Europe.
Key players profiled in the report include Broadcom, Inc., Cisco Systems, Inc., Juniper Networks, Inc., Keysight Technologies, Inc., LogicMonitor Inc., Microsoft Corporation, Nagios Enterprises, LLC, Paessler AG, Profitap HQ B.V., and SolarWinds Worldwide, LLC. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the network performance monitoring industry.
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