According to the report from Global Market Insights, the network monitoring market is projected to record an "impressive" growth rate “due to the rising demand for smooth operations among different sectors across the globe.”
The research firm says that network performance monitoring is a routine process of monitoring, reporting, troubleshooting, optimising, as well as keeping track on the performance of a computer network.
“Network monitoring also empowers network administrators as well as managers to keep track of the quality of network service delivery and overall performance of the underlying network. Through network monitoring one can anticipate potential interruptions or address network problems proactively. It further helps in maintaining a network that is free from congestion and keeps the business up and running,” the firm says.
According to the report from Global Market Insights the network monitoring market is bifurcated in terms of component, enterprise size, network speed, application, and regional landscapes, and with respect to component, the market is classified into monitoring equipment, software platform, and service.
“The monitoring equipment market is further divided into network monitoring switch and network TAP. Among these the network monitoring switch segment is likely to witness a CAGR of over 10% due to growing demand for network monitoring hardware components,” the research firm notes
Global Market Insights says that based on network speed, the network monitoring market is segmented into 1 and 10 Gbps, 40 Gbps, 100 Gbps, and 400 Gbps, and among these the 40 Gbps segment held a market share of over 15% in 2019 due to its better feasibility as compared 1 and 10 Gbps switches.
From a regional frame of reference, the research firm says that the Middle East & Africa may emerge as a vital revenue pocket for the network monitoring industry, with the MEA network monitoring performance market likely to witness a CAGR of over 12% due to the increasing development of smart city projects.