NEW DELHI, March 20, 2019
NEW DELHI, March 20, 2019 /PRNewswire/ -- According to a new report Global Network Management System Market, published by KBV research, The Global Network Management System Market size is expected to reach $11.0 billion by 2024, rising at a market growth of 10.2% CAGR during the forecast period.
The North America market would dominate the Global Network Management System Solution Market by Region by 2024, growing at a CAGR of 7.3 % during the forecast period. North America has experienced rapid 5G infrastructure deployment, substantial investment in new data centers, and an increasing penetration rate of broadband. The remarkable increase in US expenditures on Healthcare IT can also be attributed to North America's significant share in the global market. The Europe market is expected to witness a CAGR of 7.8% during (2018 - 2024). Additionally, The Asia Pacific market is expected to witness a CAGR of 10.6% during (2018 - 2024).
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The Large Enterprises market dominated the Global Network Management System Market by Organization Size 2017. The SMEs market is expected to witness a CAGR of 12.2% during (2018 - 2024). As the main players of different industries, such as IT & Telecom and BFSI, the larger business segment is the highest revenue segment in network management systems market and aggressively deploys a variety of network management solutions for network security and monitoring. In view of the significant growth in on-line consumer spending and the consequent growth in data traffic, which required overall infrastructure updates to optimize business processes, small and medium sized businesses have also opted for NMS solutions. As a result, during the forecast period, the SMEs segment will likely post a remarkable CAGR.
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The Telecom & IT market dominated the Global Network Management System Market by End User by 2024. Visibility, security, and accessibility are at superior preferences across the IT and telecommunications industries. These incumbents are rapidly adopting effective NMS solutions for mitigating the risks associated with downtime. In addition, NMS solutions also help telecom service providers (TSPs) to reduce their customer churn and enhance business activities, such as smart network planning and customer experience, in order to simplify business functions and boost overall revenues. The BFSI market is expected to witness a CAGR of 9.4% during (2018 - 2024). The Healthcare market is expected to witness a CAGR of 11.3% during (2018 - 2024). Additionally, The Manufacturing market is expected to witness highest CAGR of 10.9% during (2018 - 2024).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Cisco systems, Juniper Networks Inc., BMC Software, CA Technologies Inc., Riverbed Technology, SolarWinds Inc., Nokia Corporation, Micro Focus, and Kentik.
Global Network Management System Market Segmentation
By Organization Size
By End User
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