The market value for Network Management System Market was USD 8.57 Billion in 2022 and is expected to reach USD 20.54 Billion in 2032 and register a revenue CAGR of 10.2% during the forecast period. The market revenue growth is expanding as a result of the networks' rising complexity and the demand for effective network management tools to maintain uninterrupted operations. Organizations can utilize network management systems to increase security, decrease downtime, and improve network performance.
The rising demand for cloud-based solutions is one of the key reasons boosting the market for network management systems. Organizations from a variety of industry verticals have used cloud-based network management systems as a result of the shift to cloud computing. These technologies give businesses the freedom to control their networks whenever, anywhere, and on any device. In addition, scalability, cost-effectiveness, and ease of deployment are all benefits of cloud-based network management systems, which are predicted to fuel market revenue growth.
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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.
Competitive Landscape:
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The global market is further segmented into type and application:
Component Type Outlook (Revenue, USD Billion; 2019–2030)
Deployment Type Outlook (Revenue, USD Billion; 2019–2030)
Organization Size Outlook (Revenue, USD Billion; 2019–2030)
End-use Outlook (Revenue, USD Billion; 2019–2030)
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
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