The global network monitoring tools market is expected to grow at a significant CAGR during the forecast period (2024-2031). Network monitoring tools assist administrators in managing network configuration, traffic, application performance, uptime, bandwidth consumption, server performance, and other network-related processes to achieve optimal organization performance. SNMP (Simple network management protocol), Syslog, scripts, and other data gathering techniques are used by network monitoring programs to check the performance of networks. Downtime can be costly to an organization depending on its operations; however, it can be reduced by employing network monitoring tools, which is likely to boost the market growth during the forecast period.
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The growing demand for real-time network monitoring from end-user industries such as healthcare, BFSI, automotive, and IT to achieve low to zero latency and data security is expected to propel the network monitoring tools market. Owing to the growing telecommunications industry and the increasing reliance on high-speed connectivity for data management, work management, and information-free flow, the market is expected to rise at a rapid rate in the upcoming period. It aids in the detection of traffic bottlenecks that cause data flow restrictions. Increased cloud computing integration for effective collaborations, remote data access, and scalability has provided potential opportunities for the global network monitoring tools market.
The ability of proactive alerts and root cause investigation is a major factor driving the use of network monitoring tools. These network monitoring tools always provide the appropriate alerts at the appropriate times and provide a dashboard for interactive network monitoring software, as well as additional dashboards for global maps, topologies, dependency maps, and other information. Other causes of using network monitoring tools include the ability to swiftly identify network capacity difficulties and the ability to quickly resolve network problems.
The global network monitoring tools market is likely to be driven by an IT company’s focus on providing network performance reports, establishing full network visibility, early detection of cyberattacks on networks to secure critical data, and decreasing performance failure time. However, the market has been hampered by the availability of free tools on open-source platforms and the increasing complexity of infrastructure.
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Market Coverage
- Segment Covered-
o By Type
o By Deployment
o By End-User
- Competitive Landscape: Juniper Networks Inc., Broadcom Inc., and Cisco Systems Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Network Monitoring Tools Market Segmentation
By Type
- Open Sourced
- Licensed
By Deployment
- Cloud
- On-Premise
By End-User
- IT & Telecommunication
- Government
- BFSI
- Energy & Utilities
- Healthcare
- Others
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