Network Management System Market Expected to Reach US$ 21 Billion by 2032 – Strong Growth Forecasted

Network Management System Market

The global Network Management System (NMS) market is set to witness robust growth over the next decade, with a projected Compound Annual Growth Rate (CAGR) of 8.6% between 2022 and 2032. As per market forecasts, the market size is anticipated to surge from US$ 9.1 Billion in 2022 to an impressive US$ 21 Billion by 2032.

In today’s technologically-driven business landscape, the effective management of networks holds paramount importance, especially for enterprises operating in the IT sector. The proficient handling of networks ensures uninterrupted service delivery, seamless internal and external communication, and overall operational continuity. The upcoming wave of network management systems promises enhanced trajectory management capabilities, poised to revolutionize network operations.

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The evolution of networks has been transformative due to rapid technological advancements. Network administrators now face the challenge of maintaining complex networks that consist of diverse hardware and software components, manufactured by various vendors and distributed globally. This burgeoning demand for Network Management System products that cater to the burgeoning industry needs, offering automated network management solutions, is a major driver behind the market’s growth.

Key Takeaways:

  • Projected CAGR of 8.6% for the Network Management System market between 2022 and 2032.
  • Market size estimated to grow from US$ 9.1 Billion in 2022 to US$ 21 Billion by 2032.
  • Evolution of networks and technological complexity drives demand for efficient NMS solutions.
  • Multinational corporations prioritizing secure and user-friendly network management solutions.
  • Small and medium-sized enterprises inclined towards on-premise NMS deployments for enhanced support.

Competitive Landscape  

BMC Software, Cisco, CA Technologies, AppNeta, Extreme Networks, Accedian, HelpSystems, Ipswitch, Kentik, Micro Focus, NETSOCUT, Nokia, Riverbed Technology, SolarWinds, VIAVI Solutions, Flowmon Networks, Paessler, Colasoft, and Cubro Network Visibility are among the major players in the network management system (NMS) market.

Global wireless communication solution providers and network equipment manufacturers are launching new network monitoring and management solutions to help operators manage their networks more efficiently.

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Recent Developments 

  • In February 2017, Ericsson unveiled as a service that assists operators in their travels to virtualization, SDN, and 5G network transformations. Nokia released the NetAct Cloud network management technology in May 2016, allowing operators to deploy new network capabilities with minimum downtime. The technology is capable of handling 5G network needs and offers total mobile network control.
  • In January 2017, the Chinese government lowered subsidies and relaxed laws in order to encourage more private investment in order to strengthen its internet services.
  • Riverbed Technology, Inc. formed a collaboration agreement with Huawei Technologies Co., Ltd in 2017 to supply Huawei CloudEPN with Riverbed SteelHead integrated solutions that may assist clients in simplifying network administration in the cloud era.

Key segments

By Component:

  • Platform
  • Solutions
  • Services

By Deployment Type:

  • Cloud
  • On-Premises

By Organisational Size:

  • Large Enterprise
  • Small & Medium Sized Enterprise

By End Use:

  • Service Providers
  • Verticals

By Region:

  • North America
  • Latin America
  • Europe
  • APAC
  • Middle East & Africa

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Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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