Network Management System (NMS) Market Size Is Expected To Grow USD 10.20 Billion By 2023, At A Compound Annual Growth Rate (CAGR) Of 10.6%

(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Dec 16, 2020, 14:50 /Comserve / -- The major growth drivers for the market include in-depth visibility into network security, the need of maintaining Quality of Experience (QoE) and Quality of Service (QoS), global growth of network infrastructure,

The global NMS market size is expected to grow from USD 6.17 billion in 2018 to USD 10.20 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. The major growth drivers for the market include in-depth visibility into network security, the need of maintaining Quality of Experience (QoE) and Quality of Service (QoS), global growth of network infrastructure, and better optimization of business operations. However, the availability of free network management tools may restrain the market growth.

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Large enterprises segment is expected to hold the largest market size during the forecast period
On the basis of organization size, the large enterprises segment is expected to hold the largest market size in the NMS market during the forecast period. Large enterprises, data centers, and service providers have rapidly started deployment of network management tools over networks to manage and analyze the network traffic and protect it against security attacks, such as malware, Distributed Denial of Service (DDoS), botnet, viruses, and worms. NMS solutions help large enterprises in improving the network performance, optimizing the network, reducing the operational costs and agile business processes, and minimizing the infrastructure complexity, thus gaining traction.

Banking, Financial Services, and Insurance vertical is expected to hold the largest market size during the forecast period
On the basis of verticals, the Banking, Financial Services, and Insurance (BFSI) vertical is expected to hold the largest market size in the NMS market during the forecast period. The vertical comprises a variety of institutions, which include banking, insurance, securities, and finance. These institutions face distinctive challenges, which have economical risks, such as loss of financial data and customer information for internal and external transactions in case of network failure. These networks are exposed to threats because of tampering of networks or cyber-attacks, which may lead to the entire network failure or cause instability to finances. 24*7 network connectivity and flawless network availability are crucial, which can be achieved by continually monitoring and analyzing the required network, thus overcoming the distinctive challenges. Hence, NMS solutions play a crucial role in the BFSI vertical.

Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to provide significant growth opportunities for vendors of NMS during the forecast period. The region demonstrates a combination of high growth, developing economies, and mass adoption of mobile and internet. Rapid advancements in network infrastructure, cloud computing, telecom, and IoT have encouraged several enterprises to adopt NMS. With the increasing pressure to achieve greater business agility, more IT organizations in APAC are planning to adopt the NMS system in their business environment to function properly, improve operational efficiency, and reduce cost.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the NMS market.

The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 27%, Tier 2 38%, and Tier 3 35%
• By Designation: C-Level 47%, Director Level 49%, and Others 4%
• By Region: North America 37%, Europe 28%, APAC 29%, and RoW 6%

"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

The report profiles the following key vendors in the global NMS market:
• Accedian (Canada)
• AppNeta (US)
• BMC Software (US)
• CA Technologies (US)
• Cisco (US)
• Colasoft (China)
• Cubro Network Visibility (Austria)
• ExtraHop Networks (US)
• Extreme Networks (US)
• Flowmon Networks (Czech Republic)
• HelpSystems (US)
• IBM (US)
• Ipswitch (US)
• Juniper Networks (US)
• Kaseya (Ireland)
• Kentik (US)
• LiveAction (US)
• ManageEngine (US)
• Micro Focus (UK)
• NETSCOUT (US)
• Nokia (Finland)
• Paessler (Germany)
• Riverbed Technology (US)
• SevOne (US)
• SolarWinds (US)
• VIAVI Solutions (US)

Research Coverage
The report segments the global NMS market by component (solutions and services), , deployment type, organization size, end-users (service providers and verticals), and regions. It has a detailed analysis of the key industry players to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; expansions; and the competitive landscape associated with the global NMS market.

Reasons to Buy the Report
The report would help the market leaders/new entrants in the following ways:
• It comprehensively segments the NMS market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across major regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.

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