Network Management System Market Revenue, Top Companies, Report by 2033

Published Date : 28 May 2024

Network Management System Market Revenue and Opportunity

The global network management system market revenue was valued at USD 9.10 billion in 2023 and is poised to grow from USD 10.02 billion in 2024 to USD 23.88 billion by 2033, at a CAGR of 10.13% during the forecast period 2024 - 2033. The continuous large data management in different industries drives the growth of the market.

Network Management System Market Revenue and Growth Rate From 2024 to 2033

Market Overview

Both wired and wireless network devices may be identified, configured, updated, monitored, and troubleshooted by a network management system. A system management control application in a corporate network displays each network component's performance and enables network engineers to make the necessary adjustments. Network element suppliers use protocols like NetFlow or Application Programming Interfaces (APIs) to deliver their performance data to network management system (NMS) software.

NMSes offer visibility into whether or not network elements are running appropriately by gathering operational metrics via a series of physical taps, software agents, or interfaces for the Simple Network Management Protocol. The network management system market is characterized by a restricted number of providers, which limits the negotiating power of consumers relative to that of suppliers. In the worldwide market, there is little risk of replacements due to the rapidly growing need for network management.

Increasing utility of software-defined networking (SDN)

According to software-defined networking (SDN), the control plane and data plane should be kept separate. The use of SDN is increasing in the campus network, branch network, and data center. Many businesses have shown a significant need for software-defined wide area networks (SD-WAN) and software-defined data centers (SDCs). Network functions virtualization (NFV) allows telecom carriers to move client services to cheaper servers or the customers' own servers by segmenting a virtual network into pieces. Service providers can move workloads from private to public cloud infrastructures using virtual network architecture.

Software-defined networking, regardless of whether those computers are on-premises or in the cloud, makes it easier for network managers to add or delete virtual machines, allowing any network to grow and adapt. Therefore, it is anticipated that in the near future, the growing usefulness of software-defined networking (SDN) will propel the global network management system market.

However, the deployment, operation, maintenance, and upgradation of network management systems require technically skilled professionals. In some developing countries, the presence of tech professionals is very low. Many of the developing or least developed countries (LDCs) are located in Africa. As per the United Nations (UN), the Sub-Saharan Africa region is found to have the highest rate of education exclusion. Limited technical capabilities, lack of training opportunities, few technical teachers, and low funding for tech education are the prominent reasons for the unavailability of skilled professionals needed to manage network management systems. Thus, low adaptability in a few developing nations is restraining the network management market growth to a certain extent.

Network Management System Market Report Scope

Report Coverage Details
Network Management System Market Revenue in 2024 USD 10.02 Billion
Projected Forecast Revenue by 2033 USD 23.88 Billion
Growth Rate from 2024 to 2033 CAGR of 10.13%
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Network Management System Market Key Companies

  • SolarWinds Worldwide, LLC.
  • NetScout Systems, Inc.
  • Broadcom, Inc.
  • Cisco Systems, Inc.
  • BMC Software, Inc.
  • Oracle Corporation
  • International Business Machines Corporation
  • Nokia Corporation
  • Paessler AG
  • Viavi Solutions Inc.
  • Colasoft, Inc.
  • Huawei Technologies Co., Ltd.
  • Dell Technologies, Inc
  • Riverbed Technology, Inc.
  • Hewlett Packard Enterprise Company

Recent Development by Broadcom Inc.

  • In February 2024, The Software-Defined Edge portfolio from VMware, which Broadcom Inc. just bought, included major new breakthroughs in 5G, SD-WAN, SASE, and Edge Compute. These advances help Communications Service Providers (CSPs) update existing networks and offer new revenue-generating services. Businesses can now execute workloads at the edge at scale with automation and never-before-seen observability thanks to the latest innovations, which are also co-invented with ecosystem partners.

Recent Development by BMC Software Inc.

  • In April 2024, A formal agreement was signed by BMC, a pioneer in the world of software solutions for the Autonomous Digital Enterprise, to acquire Netreo, a recognized supplier of intelligent and safe IT network and application observability solutions. Customers will be able to access a full-stack, open observability, and AIOps solution through the BMC Helix platform with Netreo. Subject to usual closing conditions, the purchase is anticipated to conclude in the first half of 2024. The transaction's financial details were kept a secret.

Regional Snapshots

North America contributes significantly to the global network management system market growth owing to a high inclination towards the usage of advanced technologies. Financial management apps, payment apps, banking apps, and stock investment apps involve huge requirements for network management systems. Thus, the rapidly growing digital finance in the U.S. is expected to drive the growth of the country's network management system market.

The U.S. and Canada are technological hubs that need huge systems. Companies like Amazon, YouTube, Facebook, Instagram, Snapchat, Microsoft, Apple, Google, Amazon AWS, and so on belong to the North American region and need network management systems. Not only do these companies have facilities in the U.S., but they operate worldwide, which increases the demand for network management and ultimately boosts market growth.

Asia Pacific is expected to grow at the fastest rate during the forecast period. The increasing funding for network management system providers is expected to drive market growth in the Asia Pacific (APAC) region. With the required support from the technically advanced nations, the network management systems market in the Asia Pacific region can grow gradually in the coming years. Network management systems are significant for e-commerce companies as they enable administrators to manage, monitor, and optimize network performance efficiently. Countries like China, India, and Japan are technologically advanced and need data management systems. China is known for TikTok, which largely requires network management. India provides IT services across the globe, and some of the top companies, including TCS, Wipro, Cognizant, Persistent, Infosys, Accenture, and so on, generate huge amounts of data, operate on a large scale and need advanced network management systems.

Market Potential and Growth Opportunity

Use of Wi-Fi and 5G

An increasing number of people are using mobile devices, and as the Internet of Things (IoT) expands, stronger network management solutions are required. Wi-Fi 6 and 5G are useful in this situation. With regard to data transport, these modern wireless networks are incredibly quick and effective. Businesses may enhance user experience by utilizing 5G and Wi-Fi 6 to increase connection. The way we engage with the digital world will change as these technologies become more integrated into our daily lives, and they will also present many new chances for productivity and innovation.

Network Management System Market News

  • In May 2024, Riverbed unveiled its Riverbed Platform, which has observability features that give business network managers insight into blind spots related to SD-WAN, zero trust, public cloud, and remote work settings. IT companies may enhance digital experiences for end users and consumers by gathering, analyzing, automating, and reporting on data gathered across complex settings with the help of the Riverbed Platform. The Riverbed Platform is capable of identifying root causes and initiating automated remediations through correlation and analysis carried out by AIOps, or artificial intelligence, for IT operations.
  • In January 2024, at the recent Airports Innovate Exhibition in Muscat, Oman, Huawei, a prominent worldwide supplier of information and communication technology infrastructure, unveiled numerous striking new fiber-optic solutions for the aviation sector.

Market Segmentation

By Component

  • Solution
    • Configuration Management
    • Performance Management
    • Security Management
    • Fault Management
    • Accounting Management
  • Services
    • Consulting
    • Integration & Implementation
    • Training, Support & Maintenance

By Deployment

  • On-Premise
  • Cloud

By Enterprise

  • Small & Medium Enterprises
  • Large Enterprises

By Industry Vertical

  • IT & Telecom
  • BFSI
  • Government
  • Manufacturing
  • Healthcare
  • Transportation & Logistics
  • Retail
  • Media & Communication
  • Others 

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