Global network management system (NMS) market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Network management system (NMS) is a set of applications that allows network administrators to manage network-independent components inside a huge network management framework. It is mainly used to manage hardware and software components in a network. The major advantage is that it allows users to manage or monitor entire business operations with the help of a central computer.
The factors that are playing a major role in the growth of network management system (NMS) market are the rise in network infrastructure, network optimization, and network modernization and the rising visibility into network security. However, the presence of free network management tools may restrain overall market growth in the years to come. NMS market is segmented based on component, organization size, end user, and region.
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Services and solutions are the components that could be explored in the network management system (NMS) in the forecast period. Services sector comprises training, support, and maintenance, consulting, and deployment and integration services. Solution sector comprises bundled network management solution and standalone solutions. Solution sector accounted for the substantial market share of the network management system (NMS) and is estimated to lead the overall market in the years to come.
Organization size may be small and medium enterprises (SMEs) and large enterprises that could be explored in a network management system (NMS) in the forecast period. The market may be categorized based on end-users like transportation and logistics, BFSI, manufacturing, healthcare, retail, government t, information technology (IT) and ITES, and others could be explored in the forecast period. BFSI sector accounted for the substantial market share of network management system (NMS) and is estimated to continue its dominance in the years to come.
Globally, North America accounted for the substantial market share of network management system (NMS) and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the rising use of enhanced technology and digitalization, the presence of key providers and enterprises in the region, the presence of developed network infrastructure, and the high investment in research & development activities. The United States and Canada are the major consumers of the network management system (NMS) in the region.
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Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The key players of the network management system (NMS) market are HPE, Cisco Systems, Huawei Technologies, and Dell. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
The market is divided into the following segments based on geography:
Global Network Management System (NMS) Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Cisco Systems
• Huawei Technologies
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