Top 3 trends impelling network performance monitoring market share between 2020-2026

Growing bring-your-own-device (BYOD) work practice and rising usage of cloud applications is set to foster global network monitoring market share. Along with these growth factors, the increasing need for 5G networks infrastructure, and the ever-increasing adoption of smartphones globally is also set to complement overall market growth over the coming years.
Global Market Insights Inc., estimates global network monitoring market to surpass $5 billion through 2026.

Below is a list of major trends influencing global network monitoring market size:

•    Rising demand for monitoring equipment from enterprises

The ever-increasing demand for optimization functionalities and network diagnostics across companies is slated to impel the development of network monitoring market significantly through the forthcoming timespan.

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Network monitoring equipment is bifurcated into network TAP (Test Access Points) and network monitoring switches. Network TAPs are estimated to foresee major expansion owing to their unique application. TAPs are utilized as external devices that analyze the data which is passed from two network nodes.

Meanwhile, a network monitoring switch offers support to the Ethernet WAN and LAN links and also further supports IT teams while troubleshooting network problems. The device helps companies optimize resource allocation with rapid impact analysis. Additionally, network monitoring switches also help to report performance parameters, which is driving their demand in the industry.

•    Increasing prominence of network issues

The increasing demand for enhancing the mean-time-to-repair relevant network problems and reducing the time required for network troubleshooting is anticipated to propel the requirement for network performance monitoring solutions.

Citing an instance, electric power firms are increasingly aiming on offering consumers integrated energy solutions. These companies need to maintain large scale metering services and infrastructure to offer consumers access to electricity usage information. The network performance monitoring solution is highly helpful since it gives a proper performance overview by collecting data from each small infrastructure.
This further helps consumers diagnose network problems and measure the network bandwidth. These extensive features and characteristics of network performance monitoring services are further fueling their deployment in the energy sector.

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•    Growing traction in Asia Pacific

On the regional front, the APAC network monitoring market is poised to grow at a CAGR of more than 15% through the forecast timespan. Rising adoption of cloud applications and smartphones across APAC countries with large populations would likely help add up to the industry share. For instance, as per the GSMA, adoption of smartphones in India was approximately 54% in 2018. This growing penetration of smartphones is allowing telecom companies to offer better network service quality. These telecom companies are subsequently implementing network performance monitoring solutions to better manage the large number of subscribers.

Companies working in the Asia Pacific are currently facing poor network performance and cyber threats. These factors can further be a high risk for users, this risk is consequently impelling telecom companies to use network performance management solutions to improve network optimization and security.

Some of the companies contributing to the network monitoring industry include NETSCOUT Systems, Broadcom, Viavi Solutions Inc., and Riverbed Technology among others.