Network Monitoring Tools Market Development and Growth Opportunities by Forecast 2032
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The market value for Network Monitoring Tools Market was USD 8.57 Billion in 2022 and is expected to reach USD 20.54 Billion in 2032 and register a revenue CAGR of 10.2% during the forecast period. The market revenue growth is expanding as a result of the networks' rising complexity and the demand for effective network management tools to maintain uninterrupted operations. Organizations can utilize Network Monitoring Toolss to increase security, decrease downtime, and improve network performance.
The rising demand for cloud-based solutions is one of the key reasons boosting the market for Network Monitoring Toolss. Organizations from a variety of industry verticals have used cloud-based Network Monitoring Toolss as a result of the shift to cloud computing. These technologies give businesses the freedom to control their networks whenever, anywhere, and on any device. In addition, scalability, cost-effectiveness, and ease of deployment are all benefits of cloud-based Network Monitoring Toolss, which are predicted to fuel market revenue growth.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Cisco Systems, Inc.
Hewlett Packard Enterprise (HPE)
Juniper Networks, Inc.
SolarWinds Worldwide, LLC
Huawei Technologies Co., Ltd.
Micro Focus International plc
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The global market is further segmented into type and application:
Component Type Outlook (Revenue, USD Billion; 2019–2030)
Deployment Type Outlook (Revenue, USD Billion; 2019–2030)
Organization Size Outlook (Revenue, USD Billion; 2019–2030)
Small and Medium Enterprises (SMEs)
End-use Outlook (Revenue, USD Billion; 2019–2030)
Banking, Financial Services, and Insurance (BFSI)
Information Technology (IT) and Telecom
Media & Communication
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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