Network Management System Market is Expected to Increase US$ 21 Billion in 2032 | Report by FMI

The network management system (NMS) market is estimated to increase at a CAGR of 8.6% from US$ 9.1 Billion in 2022 to US$ 21 Billion by 2032. The increased need for in-depth insight into network security and Quality of Service (QoS), as well as expanding network infrastructure, are projected to fuel the growth of the network management system (NMS) market.

In the next five years, an exponential increase in Internet Protocol (IP) traffic and cloud traffic, as well as the importance of the Internet of Things (IoT), are predicted to provide a huge market potential for network management systems (NMS) companies.

The market for Network Management Systems (NMS) is expected to increase rapidly during the projected years, driven by rising demand for network management system (NMS) solutions, which enable network managers to administer, monitor, and troubleshoot fixed and wireless networks from a centralised place.

Another reason driving the growth of the network management system (NMS) market is the dramatic expansion of data traffic as smartphone usage rises and network connection improves. As the number of data packets in networks decreasesnetwork efficiency and predictability, operators employ NMS to better manage network resources.

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Intent-based networking, which uses AI and machine learning to automate administrative operations across a network, is also driving the network management system (NMS) market. With the rapid expansion of data centers and cloud IoT platforms, the need for self-managing networks is anticipated to rise throughout the projected period, resulting in a rapid increase in network management system (NMS) market growth.

The growing usage of virtualization technologies increases the complexity of next-generation networks, stifling network management system (NMS) market development. Network virtualization technology removes the link between traffic and physical network components, making it harder for operators to maintain virtual network components. It is critical that they use comprehensive network management tools to track virtual networks.

Demand for network management system (NMS) in banks and financial institutions is likely to rise throughout the projection period, as these organisations have a highly linked network architecture that allows them to provide a wide range of services to their clients.

Due to the widespread deployment of management systems to monitor assaults on mission-critical communication networks, U.S. is likely to occupy a significant proportion of the network management system (NMS) market.

Rapid expansion in the Asia Pacific network management system (NMS) market, notably in China and India, backed by considerable investments from government agencies, would hasten the implementation of network management system (NMS).

Key Takeaways  

• In the component sector, platform from the Network Management System (NMS) market are anticipated to flourish at the quickest CAGR of 8.1%.
• With a CAGR of 8.0%, on-premises are predicted to grow significantly in the deployment sector of the Network Management System (NMS) market.
• The market size for Network Management System (NMS) in the United States is expected to reach US$ 7 Billion by 2032, growing at a CAGR of 8.4% during the research period.
• United Kingdom is expected to reach a market size of US$ 841 Million in Network Management System (NMS) by 2032, with a CAGR of 7.4% during the research period.
• China’s Network Management System (NMS) market is expected to be worth US$ 1.6 Billion by 2032, with a CAGR of 8.0% over the forecast period.
• Japan is expected to have a market size for Network Management System (NMS) of US$ 1.3 Billion by 2032, with a CAGR of 7.7% during the research period.
• By 2032, South Korea is expected to reach a market size of US$ 832 Million in Network Management System (NMS), with a CAGR of 7.3% during the research period. 

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Competitive Landscape  

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 are among the major players in the network management system (NMS) market.

Global wireless communication solution providers and network equipment manufacturers are launching new network monitoring and management solutions to help operators manage their networks more efficiently.  

Recent Developments 

• In February 2017, Ericsson unveiled as a service that assists operators in their travels to virtualization, SDN, and 5G network transformations. Nokia released the NetAct Cloud network management technology in May 2016, allowing operators to deploy new network capabilities with minimum downtime. The technology is capable of handling 5G network needs and offers total mobile network control.
• In January 2017, the Chinese government lowered subsidies and relaxed laws in order to encourage more private investment in order to strengthen its internet services.
• Riverbed Technology, Inc. formed a collaboration agreement with Huawei Technologies Co., Ltd in 2017 to supply Huawei CloudEPN with Riverbed SteelHead integrated solutions that may assist clients in simplifying network administration in the cloud era.