(I-BusinessNews.Com, June 21, 2022 ) The Network Monitoring Market is projected to grow from USD 2.2 billion in 2022 and is projected to reach USD 3.0 billion by 2027; it is expected to grow at a CAGR of 6.9 % from 2022 to 2027. The rise in demand for cloud services, surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring due to rise in network complexities and security concerns is expected to fuel the growth of the network monitoring market.
Artificial intelligence has revolutionized the technology world. For industries, AI analyzes the data generated and provides insights based on its findings. AI can also apply machine learning to examine historical data to perform tasks without human input. Network monitoring tools have begun implementing AI and machine learning into their systems. Network performance monitors (NPMs) can use AI to examine and respond to performance data. AI in NPMs is not currently widespread, but as more network tools adopt AI and machine learning capabilities, more companies see the benefits of AI to their networks.
The market for network monitoring equipment with 100 Gbps bandwidth is expected to grow at the highest CAGR during forecast period. Although data centers worldwide are currently operating at 10 Gbps, they are shifting steadily toward 40 Gbps using InfiniBand or Ethernet interconnects. However, 100 Gbps bandwidth may be needed sooner rather than later, and it will be a standard in development for enabling the transfer of frames at 100 Gbps. Service providers initially embraced monitoring equipment with 100 Gbps bandwidth, and they are now being adopted in enterprises and data centers. The shift toward 100 Gbps network speeds in enterprise data centers is gaining momentum. This has led organizations to update their network security and performance management and monitoring tools in lockstep to upgrade their core networks to 100 Gbps.
The network monitoring market for enterprises is expected to grow at the highest CAGR during the forecast period. Enterprises mostly rely on network traffic analyzer solutions to optimize their network infrastructure on a daily basis. In the digital era, a smooth and agile network infrastructure is of utmost importance for every enterprise to be the frontrunner in the business landscape. Network monitoring solutions help enterprises improve their network performance by examining every aspect of the network process. These solutions are being widely adopted across major verticals, due to the increased need for maintaining and optimizing the network infrastructure.
In terms of geographic coverage, the network monitoring market has been segmented into 4 regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW). The market in Asia Pacific is expected to record the highest growth rate during the forecast period, primarily due to countries such as China, Japan and India contributing to the overall market share significantly.
The Asia Pacific is expected to experience lucrative growth opportunities in the next few years. The surge in growth is attributed to the technological advancements, along with mandatory regulations imposed by government regulatory entities to adopt the best-in-class technology and standards. Most countries in Asia Pacific, such as Singapore and India, are experiencing high-growth rates, fueled by rapid expansion of domestic enterprises. Also, companies such as AWS, Microsoft, Google, and IBM are the leading cloud service providers in the region that are fueling the growth of the network monitoring market. Asia Pacific has been witnessing the expansion of corporate and government networks to meet the challenges of growing businesses and operations, along with the explosion of cloud-based services.
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