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Network Management Systems Market to Showcase Continued Growth in the Coming Years

Author : Ronak Bora | Published Date : 2019-06-10 

Global Market Insights presents the network management systems market provides a detailed overview of major drivers, restraints, challenges, opportunities, current industry trends and strategies impacting the global market along with estimates and forecast of revenue.

Another factor fueling the growth of the network management systems market is the explosive growth of data traffic with a surge in smartphone penetration and improved network connectivity. As the increasing volume of data packets in networks reduces the efficiency and predictability of the networks, operators implement NMS to manage network resources more efficiently. The network management systems market is also driven by intent-based networking, which incorporates AI and machine learning to automate administrative tasks across a network. With the profound growth of data centers and cloud IoT platforms, the demand for self-managing networks will increase over the forecast timeline, thereby leading to a swift increase in the network management systems market growth. 

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The demand for NMS in banks and financial institutions is expected to increase over the forecast period as these institutions have a highly-interconnected network infrastructure to offer a wide range of services to customers. As banks have increasingly become targets for hackers and DoS attacks, it becomes crucial for banking institutions to adopt NMS to monitor the banking systems. To ensure that these institutions are operating more securely and efficiently, IT professionals use these management solutions to increase performance and improve the security of the banks’ IT infrastructure.

A rapid growth of the telecom industry in Asia Pacific, particularly in China and India, backed up by significant investments from government agencies will accelerate the adoption of NMS. For instance, in January 2017, the Chinese government reduced the subsidies and eased the rules to attract more private investments to bolster its internet services. According to the IBEF, the increasing penetration of smartphones and a decline in data costs are expected to add 500 million new internet users in India over the next five years. A significant surge in networks generates the demand for network management solutions, enabling telecom operators to track and control the networks.

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North America is expected to hold a major share of the network management systems market due to the widespread deployment of management systems to monitor attacks on mission-critical communication networks. According to the Identity theft Resource Center (ITRC), the U.S. recorded 1,579 breaches in 2017, indicating a 44.7 percent increase over the record figures reported for 2016. As the U.S. federal agencies suffer the significant data breaches, it becomes very crucial for them to deploy security solutions. For instance, in February 2017, the U.S. Army used InterMapper, an NMS solution from HelpSystems, enabling them to monitor devices in real-time and send alerts to the administrators about unusual traffic.

Major companies operating in the network management systems market are BMC Software, Cisco, CA Technologies, AppNeta, Extreme Networks, Accedian, HelpSystems, Ipswitch, Kentik, Micro Focus, NETSOCUT, Nokia, Riverbed Technology, SolarWinds, VIAVI Solutions, Flowmon Networks, Paessler, Colasoft, and Cubro Network Visibility. Global wireless communication solution providers and network equipment manufacturers are introducing new network monitoring and management solutions to enable operators to effectively manage their networks.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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