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Introduction:
In the fast-paced digital landscape, where connectivity is the heartbeat of modern enterprises, effective network management plays a pivotal role in ensuring seamless operations. The ever-evolving technological landscape, coupled with the increasing demand for robust connectivity, has given rise to several trends shaping the network management market. In this article, we will explore some of the key trends and insights that define the current landscape of network management.
Understanding Network Management
Networking is the process of enabling communication between nodes or devices over a network.
Network management refers to two related concepts. First is the process of configuring, monitoring, and managing the performance of a network. Second is the platform that IT and NetOps teams use to complete these ongoing tasks. Network management is the application of principles and technologies to manage networks. In particular, network management includes the provisioning, configuration, monitoring, and repair of networks.
The International Organization for Standardization (ISO) defined five areas of function in network management:
- Fault Management: Diagnose, correct, or work around a device or network system problem. Identify and isolate faults before they cause significant disruptions.
- Configuration Management: Keep track of configuration settings, so devices remain consistent with one another while enabling customers to update settings when necessary.
- Accounting Management: Track usage patterns to help businesses bill clients accurately based on what services were used and how much bandwidth was consumed during these periods.
- Performance Management: Determine how well a network is performing, identify potential bottlenecks, and troubleshoot any issues which may arise.
- Security Management: Ensure compliance with regulatory requirements by deploying security tools that ensure reliable protection against external attacks on systems and protect against accidental damage.
Network management can be used to improve network efficiency and availability, ensure compliance with regulations, and optimize network performance.
Network management systems collect data from connected network devices such as switches, routers, access points, and client devices. They also give network administrators fine-grained control over how those devices operate and interact with one another. The data captured from these devices is used to proactively identify performance issues, monitor security and segmentation, and accelerate troubleshooting.
Typically, the data is collected and sent to the system in one of two ways:
- SNMP: The Simple Network Management Protocol is an open standard and has been widely supported by most manufacturers of network elements since the early 1990s. SNMP queries each element in the network and sends each response to the network management system.
- Streaming telemetry: A software agent installed in a network element allows for the automatic transmission of key performance indicators in real time. Streaming telemetry is rapidly replacing SNMP, because it is more efficient, can produce many more data points, and is more scalable. And telemetry standards, such as NETCONF/YANG, are gaining traction as ways to offer the same multivendor support as SNMP.
Network management applications can include monitoring tools for network devices such as routers, switches, firewalls, load balancers, and DNS servers; fault detection and diagnosis; performance optimization; and security auditing. Other applications include distributed denial-of-service (DDoS) mitigation and web content filtering
cloud-based network management
Whether you need to prepare your central campus for its new role as a hub of hybrid work or you’re scaling out hundreds (or thousands) of branch sites, cloud-based network management systems are designed to give you the flexibility and reach you need. These platforms offer easy access and monitoring across highly distributed networks and make provisioning of remote sites simple.
Cloud-based platforms also provide a high level of configurability and customization, through open APIs and robust application ecosystems. These platforms also support advanced analytics, automation, and optimization use cases, through large data lakes and the power of cloud computing to support sophisticated machine learning applications.
On-premises network management systems
On-premises network management systems can be used for large campus networks that require greater performance and scalability. They also provide advanced features such as analytics, assurance, and artificial intelligence (AI) and machine learning (ML). Organizations that need sovereign operations can benefit from on-premises network management servers, since all the data is stored onsite.
In many cases, network management systems for larger networks can generate a lot of data that is collected from telemetry and SNMP.
On-premises systems are usually larger servers that have enough power to process the data so that it can be used to provide the insights IT needs to manage the network. This is one reason an on-premises server is usually located in the core of the network. Although it can be accessed from the internet, remote access requires a VPN connection.
Network Management trends
Rise of Artificial Intelligence (AI) and Machine Learning (ML): One of the most significant transformations in network management is the integration of AI and ML. These technologies empower networks to analyze vast amounts of data, predict potential issues, and automatically optimize performance. AI-driven network management solutions are becoming indispensable for handling complex tasks, enhancing efficiency, and proactively addressing network challenges.
Automation for Operational Excellence: Automation has become a linchpin in modern network management. It not only streamlines routine tasks but also reduces the risk of human errors. Automated workflows, from configuration to troubleshooting, enable organizations to achieve operational excellence, allocate resources efficiently, and respond rapidly to dynamic network requirements.
Network Security Takes Center Stage: As cyber threats become more sophisticated, network security is a top priority for organizations. Network management is evolving to incorporate robust security measures, including advanced threat detection, encryption, and compliance enforcement. Protecting sensitive data and ensuring the integrity of network infrastructure are critical aspects driving innovations in network security.
Cloud-Centric Network Management: With the widespread adoption of cloud services, network management is shifting towards a cloud-centric model. Cloud-based solutions offer scalability, flexibility, and centralized control, allowing organizations to manage networks across geographically dispersed locations. This trend aligns with the broader cloud computing paradigm and supports the dynamic needs of modern businesses.
Software-Defined Networking (SDN) and Network Function Virtualization (NFV): SDN and NFV continue to reshape network architectures by decoupling traditional network functions from hardware. SDN provides centralized control, making networks more agile and responsive, while NFV virtualizes network functions, reducing dependency on physical infrastructure. Together, they contribute to creating more adaptive and scalable networks.
Edge Computing Enhances Network Performance: The proliferation of IoT devices and the demand for low-latency applications are driving the adoption of edge computing. Network management is adapting to support edge computing by deploying resources closer to end-users. This minimizes latency, improves performance, and enhances the overall user experience.
Network management trends
Modern networks are growing exponentially and becoming much more functionally complex. As a result, many network management systems are enhanced with advanced capabilities, such as automation, assurance, and monitoring, that leverage technologies AI/ML.
- Network automation is the process where repetitive tasks such as configuration and software upgrades can be done automatically. Network management systems push out new software updates and updated configuration files, saving IT time and improving performance.
- Network assurance leverages AI/ML to provide IT with better insights into the health of the network, clients, and applications. IT can use it to identify and correct issues such as a poor client experience or wireless coverage gaps.
- Cost-effective consumption. Many vendors of network management systems offer software subscriptions. Users can subscribe to various tiers of software that deliver value where and when they need it.
Over the past 10 years, network management systems have evolved to help IT teams operate in more agile ways, incorporating advanced analytics, machine learning, and intelligent automation to continually optimize network performance. As organizations adapt to a more distributed workforce, these network management systems are increasingly deployed in cloud and hosted environments.
One of the most extensive network management trends is the rise of cloud computing. With cloud computing, businesses can access their data and applications from anywhere. This gives them a lot more flexibility and scalability than traditional on-premises solutions. Cloud computing is more cost-effective since users only pay for what they use. Cybersecurity Ventures predicts that over 100 zettabytes of data will be stored in the cloud by 2025, and global data storage is expected to exceed 200 zettabytes of data.
Network management teams now focus on quick responsiveness, performance, agility, and low cost of ownership. That’s why they’re turning to cloud technologies like software-as-a-service (SaaS) solutions that provide flexibility at an affordable price point. SaaS can quickly deploy and customize for specific needs, giving time-saving features such as automation and event correlation across heterogeneous networks.
The network management industry is constantly changing and evolving in a tech-driven world where more data is created daily. Network managers use artificial intelligence (AI), automation, analytics, machine learning, and cognitive computing to improve service delivery—it’s all about the customer experience.
In the next few years, we will see a significant shift towards intelligent networks that can self-configure, self-optimize, and self-heal. This will be made possible by artificial intelligence, machine learning, and software-defined networking advances. These technologies will help reduce human error, lower costs, and improve efficiency.
This capability is critical for businesses with large, global networks as they try to keep up with increasing customer demands while reducing operational costs. Moreover, intelligent networks promise improvements to the user experience because self-configuring networks allow for more predictable network behavior and continuous optimization. The result is an automated infrastructure that makes networks faster, safer, and more reliable than ever.
Traditional approaches for managing networks take too long before significant changes are made, which leaves organizations vulnerable to disruption. Agile methodology allows employees to iterate quickly on products and services without waiting for approval or input from stakeholders with different goals. It also allows them to respond rapidly if the market changes to stay ahead of competitors without wasting time on non-viable products or services.
Creating agile packages is one of the keys to success with an agile approach. These packages include solutions that provide immediate relief for problems like increased data traffic or security breaches and long-term strategies to prevent those problems from happening. It should be noted that implementing agile methodologies requires a significant change in culture and mindset, but the benefits are worth it.
Edge Networking Surge
The networking edge is one of the hottest areas in networking at the moment. According to a study by Chetan Sharma Consulting on the edge internet economy, the edge economy will be a worth $4.1 trillion by 2030. This has massive implications for network management. Not only will IT have to manage the LAN, Wi-Fi, remote connections over VPNs, and other traditional duties, it will also have to be able to monitor, maintain and manage the many edge devices, and mini-data centers that are expected to emerge.
Telecom companies, for example, are investigating the possibility of edge data centers incorporated with their cell towers to be able to send data to local and central points, summarize that data, and store it for certain periods. Self-driving vehicles, too, will require massive amounts of edge services to be able to monitor the myriad factors required for safe and efficient transportation. There is also the Internet of Things (IoT) to consider. Tens of billions of new connections are being added to global networks courtesy of the IoT. That translates into a colossal need for edge processing.
Zero-trust architecture
One of the top network management trends to watch out for is the rise of zero-trust architecture. This security model assumes all users are untrusted and verifies each user before granting them access to company resources.
This approach is becoming more popular, as traditional security models are no longer effective against today’s sophisticated cyber threats. Zero-trust architecture’s benefits include improved security, reduced costs, and increased efficiency. With this new strategy, IT departments can better track their employees’ activities by monitoring their internet usage and location data.
In addition, staff who have left the company will be unable to access any sensitive information they may have accessed, as they can no longer be verified as a trusted employee. Overall, this trend helps organizations stay ahead of security breaches.
Nokia Bell Labs breakthrough reconfigures networks with human speech
Nokia Bell Labs has introduced a groundbreaking research innovation called Natural-Language Networks, representing a significant leap towards autonomous network management. This technology allows networks to be operated through simple speech or text commands, showcasing the convergence of artificial intelligence (AI) and telecommunications. Natural-Language Networks leverage AI capabilities to comprehend users’ intentions and autonomously act upon them, simplifying network management and ensuring prompt responsiveness to end-users’ needs. The technology’s continuous learning feature allows the network to optimize itself with each request, enhancing efficiency and adaptability across various applications.
This innovation eliminates the complexity associated with managing networks, enabling service providers to deliver and maintain an ideal network configuration for any customer instantly. Csaba Vulkan, the Network Systems Automation research leader at Nokia Bell Labs, emphasized the user-friendly nature of this advancement, stating that operators can use simple statements like “Optimize the network at X location for Y service” instead of exploring technical catalogues or complex API descriptions. Natural-Language Networks extend their applications to configuring wireless networks for robot automation in factories and optimizing networks during events for increased social media uploads.
Part of the broader UNEXT initiative, named after the legendary UNIX operating system, Natural-Language Networks contribute to redefining network software and systems. UNEXT aims to simplify the secure integration of various devices and systems, breaking down interoperability barriers by evolving the network into an operating system. Azimeh Sefidcon, Head of Network Systems and Security Research at Nokia Bell Labs, highlighted that Natural-Language Networks offer a glimpse into UNEXT’s capabilities, aligning with the initiative’s goal of reducing network management complexity and extending the reach of networked systems. This breakthrough from Nokia Bell Labs signifies a new era in network management, promising enhanced efficiency, simplicity, and user satisfaction. The potential of Natural-Language Networks to revolutionize network configuration, management, and adaptation is considerable.
Market Insights:
The global Network Management System Market size as per revenue was surpassed $9.3 billion
in 2022 and is anticipated to exhibit a CAGR of 9.4% to rise over $14.6 billion by the end of 2027.
Various factors such as prominence of IoT across top players and new entrants, increasing need for in-depth visibility into network security, and growing demand for better optimization of business operations and network management solutions across SMEs are expected to drive the adoption of network management system.
Key Market Drivers:
- Digital Transformation Initiatives: Organizations across industries are investing in digital transformation, necessitating advanced network management solutions to support the evolving IT landscape.
- Rising Cybersecurity Concerns: The surge in cyber threats and data breaches is propelling the demand for network management solutions that prioritize robust security protocols.
- 5G Integration: The rollout of 5G networks is a catalyst for innovation in network management, offering higher speeds, lower latency, and increased device connectivity.
- Remote Workforce Dynamics: The shift towards remote work has underscored the importance of resilient and secure network infrastructures, driving investments in remote network management solutions.
- Emergence of SDN across enterprises
SDN is a new paradigm shift that advocates separating the data plane and control plane, making network devices such as switches and routers in the data plane simple packet forwarding devices which a centralized software program can logically control. This software controls the behavior of the entire network. The adoption of SDN has been prevalent across the campus network, branch network, and data center. SD-WAN and Software-Defined Data Center have shown strong demand from enterprises. All the traditional data center components, namely, compute, networking, and storage, are replaced by the underlying software-defined platform. As a result, network infrastructure has been flooded with VMs, hypervisors, x86 servers, and containers. With these capabilities, SDN introduces new opportunities for network management and configuration management vendors by implementing automation within network management processes. The increased adoption of SDN would drive the demand for NMS tools to cater to the need for software-defined infrastructure in the coming years.
Network Management Software Market
A network management system (NMS) is a program or application that allows network engineers to manage the independent components of a network within the context of a larger network management framework and performs several key functions. An NMS identifies, configures, monitors, updates, and troubleshoots network devices in both wired and wireless enterprise networks. The performance data collected from each network component is then displayed by a system management control application, allowing network engineers to make changes as needed. Network element vendors make their performance data available to NMS software via APIs or protocols such as NetFlow, a de facto industry standard developed by Cisco that allows NetFlow-enabled routers to transmit traffic and performance data.
Network Management Software Market size was valued at USD 8100 Million in 2021 and is projected to reach USD 17999 Million by 2030, growing at a CAGR of 9.28% from 2022 to 2030.
Network management includes functions such as fault management, security management, account management, and performance management. As a result of these functionalities, there is a significant increase in this market. Because of expanding networks and security concerns, robust and resilient network management systems are required. As a result, the global market is expected to grow significantly, increasing the need to study the entire market appropriately.
NMS software can be installed on-premises on a dedicated server and managed on-site, or it can be accessed as a service, with the vendor providing the tools the enterprise needs to administer and monitor its network. NMS software can manage a wide range of network components from various vendors. Early versions of NMS software sometimes only worked with hardware made by the same vendor, but those limitations have largely vanished as networks have migrated to architectures based on equipment from multiple suppliers. On-premises NMS installation can provide greater control and customization of the software to meet specific objectives. Internally managing the software may necessitate additional IT staff and resources, and as the software ages, it will be the company’s responsibility to upgrade or replace it. While vendor-based NMS can provide a faster return on investment, access to the software may be compromised if the provider’s data center experiences an outage.
The growth drivers for the market are In-Depth Visibility into Network Security, the Need for Maintaining QoE and Qos, Hybrid It Infrastructure, the Demand for Better Optimization of Business Operations, and the Emergence of network and IT infrastructure are essential for smooth business operations and play a critical role in a company’s expansion. All components that enable organizations to run and manage their software environments, such as wired or wireless connections, are included in the IT infrastructure. Network infrastructure also includes the hardware and software required for network access, communications, and operations management. Businesses can increase performance, improve uptime, and improve the user experience by combining network and IT infrastructure.
Furthermore, NMS solutions and services are becoming increasingly popular among IT companies and network administrators for identifying data from network devices, configuring application servers, monitoring for problems, and updating and troubleshooting network devices to avoid network disruptions and improve efficiency. During the forecast period, this is expected to drive market revenue growth. The restraints for the market growth are the Availability of Free Network Management Tools. Whereas the opportunities are Exponential Growth in the Global Ip Traffic and Cloud Traffic, the Prominence of IoT, and the Rise in Demand for Network Management Solution Across SMEs.
Network Management Systems Market
Network Management Systems Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period, to reach USD 14.6 billion by 2027 from USD 9.3 billion in 2022, according to a new report by MarketsandMarkets™.
Growing demands for of digital transformation across verticals and the increasing adoption of advanced technologies, such as IoT, mobility, and cloud. China, Japan, Australia, and India are the key contributors in terms of the adoption of NMS tools in their network infrastructure. The adoption of virtualization and SDN technology is currently in its nascent phase and is projected to grow exponentially during the forecast period.
On the basis of network type, the network management system market is segmented into wired and wireless. The wired network segment is expected to hold the largest market size in 2019. Wired networks are more reliable than wireless networks as they are not prone to interference from other wireless networks. Moreover, wired networks offer high data security as compared to wireless networks.
NMS can monitor both wired and wireless network components. Historically, each would require its own NMS. However, as wireless networking has grown in popularity, unified network management systems have become available, allowing a network engineer to track both wired and wireless network elements from a single management console. NMS software can also enable businesses to track performance across their networks as well as external networks operated by cloud and as-a-service providers. APIs and other means for an enterprise to access performance flow data or logs to analyze security or performance enable visibility
In terms of component, the solution segment is expected to hold the largest market size in 2019. The high growth of this segment is attributed to the increased need for efficient network management solutions among enterprises to manage and monitor their complex network infrastructure.
Network management solutions market
Market Segments
The global network management solutions market is segmented based on component, deployment model, enterprise size, industry vertical, and region.
Based on component, the solution segment accounted for the highest share in 2021, contributing to nearly two-thirds of the total share, and is expected to maintain its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 11.1% from 2022 to 2031.
On-premises segment to grow at the highest CAGR during the forecast period
The network management system market by deployment mode is segmented into cloud and on-premises. As per deployment mode, the on-premise segment held the largest share in 2021, accounting for nearly three-fifths of the market, and is expected to maintain its dominance in terms of revenue by 2031. However, the cloud segment is estimated to witness the largest CAGR of 11.5% during the forecast period.
The on-premises solutions are seen to be in greater demand, due to their wide range of functionalities, such as high-end security, easy deployment, and complete access to network solutions. With advancements in technology, enterprises and service providers are seen to prefer cloud-based network management solutions, as they offer various benefits, such as a pay-per-use model, flexibility, speed inaccessibility, and low installation and maintenance costs.
The network management system market by organization size has been segmented into small and medium-sized enterprises (SMEs) and large enterprises. The large enterprises segment is expected to hold the largest market size in 2019.
Large enterprises have a complex network infrastructure as compared to SMEs. They use network management solutions to manage and monitor their network infrastructure effectively. Over the forecast period, the rising need for an agile and secure infrastructure to operate effectively in the sophisticated business environment is expected to fuel demand for these solutions and services.
On the basis of enterprise size, the large enterprises segment dominated the market in 2021, accounting for more than two-thirds of the global network management solutions market, and is projected to maintain its leading position throughout the forecast period.
However, the SMEs segment is estimated to showcase the highest CAGR of 11.5% during the forecast period. Small and medium businesses will continue to deploy wireless and wired LAN infrastructure as part of their efforts to adopt cloud-based solutions, reduce overall infrastructure costs, and ensure easy access to data, which will provide significant opportunities for NMS solution vendors over the forecast period.
The network management system market by industry vertical has been segmented into BFSI, healthcare, IT and telecom, retail, energy and utilities, government and defense, manufacturing, and others (education, media and entertainment, and construction).
As per verticals, the government vertical is expected to grow at the highest CAGR during the forecast period. This vertical is one of the major revenue contributors to the NMS market and is expected to be a promising vertical in the future as well. Since businesses are changing, the network infrastructure continues to be a significant backbone, linking users to the necessary IT resources and enabling immediate distribution of information. The change in the government network infrastructure is driving the growth of the NMS market.
The healthcare segment is expected to grow at the high CAGR during the forecast period. Healthcare organizations are adopting network management solutions to manage their critical data and applications effectively.
North America to account for the largest market size during the forecast period
North America has witnessed significant growth in the NMS market. The region is a frontrunner in terms of technology adoption and digitization of society. Enterprises and service providers in this region continuously change their network infrastructure to cope with advanced technologies. The rapid changes in IT infrastructure, such as cloud and virtualization, have significantly increased the pressure on network administrators to manage the network infrastructure. This is expected to increase the demand for NMS solutions across the verticals and service providers.
Based on region, North America accounted for the highest share in 2021, contributing to more than two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, market across Asia-Pacific is projected to portray the fastest CAGR of 12.4% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Some of the major Network Management System Market vendors are Cisco (US), IBM (US), Broadcom CA Technologies (US), Micro Focus (UK), Juniper Networks (US), Nokia (Finland), Ericsson (Sweden), ManageEngine, a Division of Zoho Corporation (US), Huawei (China), LiveAction (US), NETSCOUT (US), Progress (Ipswitch) (US), Paessler (Germany), Cubro Network Visibility (Austria), Kentik (US), VIAVI Solutions (US), Kaseya (US), Extreme Networks (US), eG Innovations (US), Colasoft (China), SolarWinds (US), ExtraHop Networks (US), Riverbed (US), Accedian (Canada), BMC Software (US), HelpSystems (US), and AppNeta (US)
Network Monitoring Market
Network Monitoring Market is projected to grow from USD 2.2 billion in 2022 and is projected to reach USD 3.0 billion by 2027; it is expected to grow at a CAGR of 6.9 % from 2022 to 2027. The rise in demand for cloud services, surging demand for resilient network monitoring systems to quickly resolve downtime issues along with need for continuous monitoring due to rise in network complexities and security concerns is expected to fuel the growth of the network monitoring market.
“Network monitoring market for enterprises segment is expected to hold largest share from 2022 to 2027”
Enterprise segment held the largest share of the network monitoring market in 2021 and is expected to retain its dominant position throughout the forecast period. High-performance connectivity, constant uptime, high throughput, and high reliability is required by advanced enterprise applications in order to manage a vast amount of data. To fulfil these requirements, network monitoring is being incorporated in enterprises.
“Software & Services to dominate network monitoring market during forecast period”
The network monitoring market for software & services held a larger share in 2021 and is expected to follow the trend during the forecast period. Cross domain management operations, Software as a Service (SaaS)-based network management market, and performance service level agreements in cloud monitoring are expected to redefine traditional network management. Moreover, increasing network complexity, converging technologies, and growing virtualization implementation are expected to transform network management technologies, tools, and practices.
Key players in the network monitoring market include Gigamon (US), NETSCOUT (US), Keysight Technologies (US), Viavi, APCON (US), and Garland Technology (US), Cisco (US), Broadcom (US), Arista Networks (US), Juniper Networks, Inc. (US), Zenoss (US) are among the leading companies in the network monitoring market. Apart from these, Network Critical (UK), CALIENT Technologies (CALIENT) (US), Netgear (US), Motadata (US), Riverbed Technology (US), Accedian Networks (US), Datadog (US), Kentik (US), Auvik Networks (Canada), LogicMonitor (US) and Paessler (Germany) are among a few emerging companies in the network monitoring market.
IoT network management market
According to the IoT network management industry analysis by Future Market Insights (FMI), the demand registered in the IoT network management market will grow at a noteworthy CAGR of around 23.3% from 2022-2032. The report states that the market is expected to reach a valuation of US$ 5.1 billion by the end of 2022.
According to the researchers, IoT networks are rapidly expanding across the globe, allowing businesses, and industries to control and/or monitor a broad range of smart gadgets. With any network technology, speed and responsiveness are crucial for accurate and dependable IoT device performance. IoT networks, on the other hand, have a variety of network performance issues due to the presence of heterogeneous and resource-constrained devices communicating through error-prone radio channels and frequently deployed in hostile environments.
The Internet of Things (IoT) tangibly solves significant business problems in a variety of industries. Healthcare, smart cities, building management, utilities, transportation, and manufacturing are among the early users of this technology, attesting to its numerous advantages.
However, the number of threats and cyber attacks directed at IoT devices and networks is on the rise in both number and complexity. Attacks like IoT botnets, DNS threats, IoT ransomware, IoT physical security, and shadow IoT are on the rise in IoT devices, connected software, and network connections.
Combining IoT solutions with edge processing technology supports minimising the vulnerabilities as edge security helps in protecting users and sensitive data. Therefore, there is an increased need to secure the devices and network, and use them to strengthen network security. As a result, enterprises are deploying IoT network management solutions to protect devices against new security threats, the researchers state.
“Different functionalities of IoT network management help to maintain network performance. Increasing adoption of IoT network management platforms across large enterprises will augment the growth in the market over the forecast period,” says an FMI analyst.
Key takeaways include the following:
- By solution, demand in the network management platform segment is expected to grow at a CAGR of 24.4% through 2032.
- Based on enterprise size, the SME segment is predicted to grow by 8.9X during the forecast period.
- In terms of industry, the healthcare segment is predicted to grow at a CAGR of 29.9% between 2022 & 2032.
By region, South Asia & Pacific region is showing the highest growth of around 28.4% CAGR during the forecast period.
In addition, FMI finds that IoT network management providers are focusing on strategies such as product innovation to improve their offerings and enhance their product portfolios to meet growing demand. Furthermore, a number of enterprises are collaborating with technology experts to build their own IoT network management solutions.
For instance, in March 2021, BehrTech collaborated with WEPTECH, a pioneer in the development and manufacture of cutting-edge wireless communication technologies launched cost effective MYTHINGS-certified gateway for Mioty, which is a next-gen LPWAN protocol.
Also in March 2022, a strategic partnership was established between Sierra Wireless and T-Mobile to strengthen the IoT connectivity solutions of Sierra Wireless by combining the IoT network management tools with LPWA, 5G coverage, AND 4G LTE from T-Mobile’s powerful mobile network.
The Need For Partners
As networks become more complex, as the edge evolves, and the IoT gathers momentum, it becomes increasingly evident that no one company can do it all. Thus, network management vendors are partnering with edge and IoT specialists. IT vendors are forming tighter relationships with networking vendors as they seek to prepare themselves for the needs of evolving network architectures. And businesses are looking for all the help they can get to be able to incorporate edge, IoT, and other data into their operations.
According to a study by Informa from 2021, 20% of business leaders are already searching for the right delivery partners for IoT and edge services. That number has certainly increased markedly over the past year.
Conclusion:
As organizations continue to navigate the complexities of modern IT ecosystems, the role of network management becomes increasingly pivotal. The convergence of AI, automation, and advanced security measures is defining the next phase of network management evolution. Keeping abreast of these trends and leveraging innovative solutions will be crucial for organizations seeking to build and maintain agile, secure, and high-performance networks in the digital age.
References and Resources also include:
https://itbrief.com.au/story/fmi-uncovers-massive-growth-of-iot-network-management-market
https://www.enterprisenetworkingplanet.com/data-center/8-key-network-management-trends/
