North America to Dominate the Network Management Market

by Industryarc
North America to Dominate the Network Management Market
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According to the new market research report by IndustryARC titled “Network Management Market: By Service (Consulting, Support, Virtualisation, Integration); By Solution (Network Security Management, Network Device Management, Network Traffic Management, Performance Monitoring & Management, IP Address Management); By Application (Telecom & Information Technology (IT), Education & Academia, Transportation, Government, Defense, Hospitality, Healthcare, Energy and Utilities, Retail & Consumer Goods, Oil and Gas, Banking, Financial & Insurance (BFSI),  Media and Entertainment); By End User (Small Scale Enterprises, Medium Scale Enterprises) & By Geography – Forecast Period (2018-2023),” the global Network Management market will be driven by the increasing demand for network management in industries such as Telecom, BFSI, retail, and others.. The market is forecast to grow at a CAGR of 8.65% and reach $14.2 billion by 2023. 


North America to Dominate the Network Management Market

North America will dominate the Network Management market due to the increased computer technology use and growing consumer broadband connections. The North America Network Management market is expected to reach approximately $5.6 billion by 2023, growing at a CAGR of 9.10% during the forecast period US and Canada dominate the North America market due to the growing number of breaches in these regions. Europe will have a significant growth due to increasing focus on technology.US and Canada have the largest share in the region due to the growing dependency on computer technology.. Europe and Asia-Pacific follow suit.


Selected Regulatory Analysis Done in the Full Report:

The small scale and medium scale business segment will have the largest share in the Network Management market. The segment’s share is expected to reach $11.1 billion by 2023, growing at a CAGR of 9.48% during the forecast period. The growing number of startups across the world, and the increasing need for network management products and solutions in the small and medium enterprises are expected to fuel the growth of the market during the forecast period.  


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Selected Driving Factors Mentioned in the Full Report

  • Increased network security breaches drive the demand for the network management market in the future. Monitoring the network has become a challenge with the arrival of BYOD(Bring Your Own Device) policy. This factor drives the network management market. 
  • The explosive growth of data owing to social media and other sources will drive the global Network Management market.
  • The launch of 5G networks in various countries in the next few years will open up ample opportunities for the network Management market.
  • Growth of the IT and Telecom sectors will drive the demand for remote network monitoring, which in turn will drive the Network Management market.
  • There will be more demand for simple network management protocol (SNMP) monitoring tools during the forecast period as more businesses try to optimize their operations.


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Key Players of the Network Management Market

Cisco Systems, Nokia, and Erricson are the key players of the Network Management Market.

– Cisco Systems offers fault management, configuration management, and performance management solutions and products for enterprise networks. In March 2016, Cisco, Ericsson, and Intel announced a collaboration to produce the first 5G router.

– In May 2016, Nokia launched its NetAct network management system to meet the demands of the future 5G networks

– In February 2017, Erricson announced the launch of its Erricson Network Manager in an ‘’as a service’’ model.


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