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Demand for continuous monitoring due to rise in network complexities and security concerns to drive network monitoring market to reach USD 2.93 billion by 2023

 



(IT-NEWSWIRE.COM, May 11, 2019 ) According to the new research report "Network monitoring Market by Offering (Equipment and Solutions & Services), Bandwidth (1 & 10 Gbps, 40 Gbps, 100 Gbps), Technology (Ethernet, Fiber Optic, and InfiniBand), End User (Enterprises, Telecom), and Geography - Global Forecast to 2023", the overall network monitoring market is expected to reach from USD 1.67 billion in 2017 to USD 2.93 billion by 2023, at a CAGR of 9.9% during the forecast period. The increasing number of enterprises with strict reliability requirements drives the need for network performance monitoring equipment. Also, the need for highly reliable, scalable network monitoring equipment for robust network monitoring capabilities to ensure smooth operations of mission-critical network infrastructure contributes to the growth of this market.



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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.



Network monitoring helps to minimize the company’s downtime, and thus reduces costs. It is also essential to increase the overall productivity of the network. The network equipment provider companies are trying to create a fully redundant network from end to end; however, in many cases, this is not possible. This may be because of the limitations in the architecture, lack of physical redundancy, or budgets that restrict a fully redundant approach.



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Today’s information-driven organizations face the fundamental challenge of balancing the high availability of business-critical information and maintaining its integrity and security. Continuous monitoring is the process of constantly and persistently monitoring technological assets, vulnerabilities, configurations, and more importantly, the current network events to discover new assets that may be vulnerable, as well as detect anomalies or other suspicious activities.



North America holds the largest market, and a similar trend is likely to continue owing to the increasing IT capacity requirements and rising adoption of new data center technologies. The market in the US is expected to experience greater traction as a significant number of organizations are likely to opt for cloud services to save their upfront cost of building new data centers for business continuity. The increasing government initiatives and investments from technologically developing countries, such as India, Japan, China, Singapore, and Australia, in APAC are driving the establishment of data centers in the region. Also, the increasing number of small and medium-sized enterprises and growing adoption of digital technologies further drive the demand for network monitoring. Moreover, the increasing penetration of the Internet and growing population of internet users in the region create a huge volume of data, which, in turn, drive the demand for cloud-based services.



Network monitoring helps companies in getting clear insights about their network traffic, bandwidth, and operational efficiency, and address all the major challenges such as reducing overall operational cost, identifying optimal routes for interconnecting, and providing accurate insights on the flow of information. However, several free network traffic tools are available in the market space with which network admin can monitor and analyze network traffic and operate the network infrastructure efficiently.



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Gigamon (US), NetScout Systems, (NetScout) (US), Ixia (US), VIAVI Solutions (Viavi) (US), APCON (US), and Garland Technology (US) are among the leading companies in the network monitoring market. Also, a few major companies, namely, Broadcom (US), Juniper Networks (US), Big Switch Networks (US), Zenoss (US), Network Critical (UK), Corvil (Ireland), CALIENT Technologies (US), Netgear (US), and Motadata (US) have also been profiled in the report.



Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting



Industries operating under regulatory norms for their business needs likely to implement network monitoring to control entire IT infrastructure, thereby driving growth of network monitoring market



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