Network Management System (NMS) Market

Global Network Management System (NMS) Market Size (2024 to 2029)

The global network management system (NMS) market is predicted to reach USD 8.38 billion in 2024 and USD 13.13 billion by 2029, growing at a CAGR of 9.4% during the forecast period.

Nowadays, network management is an important part of businesses, playing a crucial role in the development of business operations. Also, most organizations are investing in modern network infrastructure technologies such as cloud services, SDN, network function virtualizations, IP networks, fixed and mobile broadband networks, mobility, and network orchestration to streamline business operations.

Global Network Management System (NMS) Market Drivers:

The growth of the global Network Management System (NMS) market is due to the rising need for in-depth visibility into network security and quality of service and the growing infrastructure, which has helped the market grow significantly. Other factors supporting the growth of the global Network Management System (NMS) market include benefits such as exponential growth in the global Internet protocol traffic and cloud traffic and the prominence of the Internet of Things, which helps the market grow further. Furthermore, the adoption of SDN technologies and the emergence of a hybrid cloud approach are some of the major driving factors propelling the market's growth.

Global Network Management System (NMS) Market Restraints:

However, high costs associated with network management system tools and a lack of awareness of network management systems are some of the restraints hindering the growth of the Network Management System (NMS) market.

Impact of COVID-19 on the network management system (NMS) market:

COVID-19 disrupted the global economy in distinct ways. Lockdown restrictions and work-from-home flexibility pushed the global demand for the network management system market. There is a need to enhance the quality of the service that is propelling the growth rate of this market in these tough times.

GLOBAL NETWORK MANAGEMENT SYSTEM (NMS) MARKET REPORT COVERAGE:

This research report on the global network management system (NMS) market has been segmented and sub-segmented based on the deployment type, component, organization size, end-user, and region.

Global Network Management System (NMS) Market - By Deployment Type:

• On-Premises Deployment Type

• Cloud Deployment Type        

Among these segments, the cloud deployment segment holds the major share of the market.

Global Network Management System (NMS) Market - By Component:

• Platform

• Solutions

• Services

The services segment is expected to hold the dominance of the market attributed to the wide adoption of network management system solutions across enterprises as well as service providers.

Global Network Management System (NMS) Market - By Organization Size:

• Small And Medium Size Enterprises 

• Large Enterprises

Among these segments, the large enterprises segment holds the major share of the market and will dominate the market during the forecast period.

Global Network Management System (NMS) Market - By End User:

• Service Providers       

• Verticals         

The service providers segment is again bifurcated into telecom service providers, cloud service providers, managed service providers, and other types. The verticals segment is further bifurcated into banking, financial services and insurance, IT and IT, government, manufacturing, healthcare, retail, transportation and logistics, education, and hospitality. The service providers segment is expected to have the highest CAGR during the forecast period and will hold the dominance.

Global Network Management System (NMS) Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America holds the major share of the Network Management System (NMS) market due to the the rapid adoption of advanced technologies and infrastructure, which helps them to visualize their IT infrastructure and also to facilitate advanced network management, and increase R & D as well as the technological advancements in the Network Management System (NMS) helps the growth of the market.

Asia Pacific is expected to increase its market value owing to factors such as the proliferation of smartphones, the continued rollout of cellular and broadband networks, and the burgeoning popularity of cloud-based solutions and services. IoT (Internet of Things) also promotes the growth of the market for Network Management Systems (NMS) in this region.

Europe is expected to increase the growth of the Network Management System (NMS) market, followed by the North American and Asia Pacific regions, due to the increasing investments by companies in the latest developments during the forecast period.

KEY MARKET PARTICIPANTS:

The main players in the market include Paessler AG (Germany), SevOne (US), Cubro Network Visibility (Austria), Kentik (US), VIAVI Solutions (US), Accedian (Canada), Kaseya (US), HelpSystems (US), Extreme Networks (US), CA Technologies (Broadcom) (US), NETSCOUT (US), Riverbed Technology (US), Micro Focus (UK), Cisco (US), IBM (US), Huawei (China), Juniper Networks (US), Nokia (Finland), SolarWinds(US), Ipswitch (Progress) (US), BMC Software (US), ExtraHop Networks (US), Colasoft (China), Flowmon Networks (Czech Republic), ManageEngine (US), LiveAction (US), AppNeta (US), Ericsson (Sweden), eG Innovations (US), Opmantek (Australia), and others.

RECENT HAPPENINGS IN THE MARKET:

• Cisco acquired singularity networks in February 2019 to provide its clients with improved network performance, cost efficiency, more visibility, and less downtime.

• Ibm Company collaborated with NETSCOUT in the month of July 2018 to integrate the network analytics tools with the telecommunications analytics suite, which helps IBM to get better customer insights.

• Broadcom Company acquired CA Technologies in November 2018 to strengthen its position as a leading provider of semiconductor and infrastructure software solutions.

• NETSCOUT Company introduced Arbor Threat Analytics in July 2019. This was the first network-based threat detection and analytics platform that helps provide full visibility into present multi-cloud environments.