Global Network Management System Market Â was valued US$ 6.17 bn in 2017 and is estimated to reach US$ 12.25 bn by 2026 at a CAGR of 10.6%.
Global Network Management System Market is segmented by component, by development, by the end user, and by region. Based on the component network management system is classified as Solutions, Services. On the basis of development type market is divided into cloud and on-premises. Based on end user market is segmented into verticals and service provider. Region wise the market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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The global growth of the network infrastructure, network modernization, network optimization and the need for in-depth network visibility are expected to drive market growth. The major growth drivers for the market include in-depth visibility into network security, the need of maintaining Quality of Experience (QoE) and Quality of Service (QoS), global growth of network infrastructure, and better optimization of business operations. The availability of free network management tools may restrain market growth. The transition toward 5G is one of the key trends that will contribute to market growth in the forthcoming years. NMS provides technical advantages such as maintaining data traffic and security that will drive 5G technology in the future. The market will also witness high investments in 5G technology leading to the growing demand for Global Network Management System Market (NMS).
Based on components, the solutions segment is expected to account for the larger market share during the forecast period. The overall solution segment includes standalone and bundled network management solutions and has a major influence on the NMS market’s growth. NMS solutions help network admin to effectively manage network operation and improve business performance.
On basis of end-users, the verticals segment is expected to hold the largest market share during the forecast period. Moreover, this segment is significant for solution providers in terms of market share. Banking, finance, government, and manufacturing have always been forefront in adopting NMS solutions. It is utmost important for businesses to maintain and upgrade their network infrastructure. All these factors are expected to be the key reason for the rapid adoption of NMS solutions and services by vertical.
In terms of region, the market is segmented into North America, Asia Pacific, Europe, Middle East & Africa, Latin America. North America is expected to account for the largest size in the Global Network Management System Market (NMS) during the forecast period, followed by Europe. The rapid changes in the IT infrastructure, such as cloud and virtualization, have significantly increased the pressure on the network admins to manage the network infrastructure. The region has always been the frontrunner in terms of the technology adoption and digitalization of the society. Enterprises and service providers are continuously changing their network infrastructure to cope with the advanced technologies.
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Key players operated to Avaya Inc. (U.S.), Alcatel-Lucent S.A. (France), IBM Corporation (U.S.), Juniper Networks Inc. (U.S.), Cisco Systems Inc. (U.S.), Aruba Network Inc. (U.S.), CA Technologies Inc. (U.S.), Netscout System, Inc. (U.S.), Solarwinds Worldwide, LLC. (U.S.), BMC Software, Inc. (U.S.) and Compuware Corporation (U.S.)
Scope of Global Network Management System Market: