Network Management Market Overview
The network management market refers to the technologies, solutions, and services used for managing, monitoring, and optimizing enterprise networks. As networks become more complex with the adoption of new technologies like cloud, IoT, and mobility, the need for robust network management solutions continues to grow. According to Market The Network Management market size is projected to grow from USD 9.88 Billion in 2023 to USD 22.8 Billion by 2032.
Some of the key drivers fueling this growth are the rising network complexity, need to improve customer experience, and increasing network security threats. Enterprises are adopting network management solutions for enhanced infrastructure performance, reduced network downtime, better traffic & bandwidth management, and to gain insights into network security.
Key Network Management Segments
Components: Network management solutions consist of software and hardware infrastructure to monitor, manage, and support the network operations. The key software includes performance monitoring, network configuration management, IP address management, user device tracking, and security management. The hardware infrastructure comprises network sensors and networking devices used for traffic monitoring and analysis.