The Network Monitoring Market is expected to reach from USD 1.82 billion in 2018 to USD 2.93 billion by 2023, at a CAGR of 9.9% from 2018 to 2023. The increasing number of enterprises with strict reliability requirements drives the need for network performance monitoring equipment. Network architecture is growing in complexity and application delivery is becoming more time-sensitive.
This demands the need for highly reliable, scalable network monitoring equipment. The need for robust network monitoring capabilities to ensure smooth operations of mission-critical network infrastructure and the need to quickly resolve downtime issues drive the growth of the network Monitoring Equipment Market.
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Data centers across the world are running at 10 gigabits-per-second (Gbps) speeds and moving to 40 Gbps, using InfiniBand or Ethernet interconnects. Although 10 Gbps speed has been in adoption for years and often viewed as enough by most SMEs and large enterprises, due to the data explosion in the recent years, these enterprises are compelled to shift to higher bandwidths. Service providers initially embraced 100G, and it is now being adopted by enterprises, data centers, and government organizations. The launch of QSFP28-based 100G technology has improved the density and cost of 100G solutions and has driven a surge in 100G adoption in production networks over the past 2 years, which, in turn, drives the demand for monitoring equipment with 100 Gbps bandwidth.
The Network Monitoring Market for enterprises is expected to grow at a higher CAGR during the forecast period. Enterprises mostly rely on network traffic analyzer solutions to optimize their network infrastructure on a daily basis. In the digital era, a smooth and agile network infrastructure is of utmost importance for every enterprise to be the frontrunner in the business landscape. Network monitoring solutions help enterprises improve their network performance by examining every aspect of the network process. These solutions are being widely adopted across major verticals, due to the increased need for maintaining and optimizing the network infrastructure.
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The Network Monitoring Market in APAC is expected to grow at the highest rate during the forecast period. Increasing government initiatives and investments from technologically developing countries, such as India, Japan, China, Singapore, and Australia, in APAC are driving the growth for increasing deployments of data centers in the region, which, in turn, is expected to drive the market for network monitoring. Also, the increasing number of small- and medium-scale enterprises and growing adoption of digital technologies will further drive the demand for this market. The surge in growth is attributed to the technological advancements, along with mandatory regulations imposed by government regulatory entities to adopt the best-in-class technology and standards.
Most countries in APAC, such as Singapore and India, are experiencing high-growth rates, fueled by rapid expansion of domestic enterprises. Network monitoring helps in optimizing network performance to stay competitive in the market, benefit customers, and contribute to the long-term success of any organization. For this, it is imperative to ensure the reliability and availability of the network. As organizations continue to migrate to more collaborative, global, and agile structures, it becomes crucial for network operators to continuously monitor the network.
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