The Global Network Management System (NMS) Market size is expected to reach $11.0 billion by 2024, rising at a market growth of 10.2% CAGR during the forecast period. Network management offers various features like fault management, security management, account management and management of performance. There is therefore a substantial rise in this market because of these functionalities. Because of the expansion of networks and security concerns, strong and resilient network management systems are necessary. NMS helps companies to supply, monitor and manage computer systems and to optimize the availability of bandwidth and hardware in real time. In recent years there has been a continued rollout of 5G mobile infra in different countries, including the U.S., Germany and Britain, as well as enormous amounts of investment in building new datacenters.
Based on Component, the market is segmented into Solution and Services. A key role in network management is automated configuration of network systems like the Dynamic Host Configuration Protocol (DHCP) and Domain Name Services (DNS). A network monitoring system can measure and display the network status such as collection of traffic volume statistics, network accessibility, response times and performance. Solution component has dominated the market during the forecast period.
Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on End User, the market is segmented into Telecom & IT, BFSI, Healthcare, Retail, Manufacturing, Government, and Others. Several tasks and services need to be integrated in a network management system (NMS) for broadband PLC. The various data rates, transmission reliability and functionality requirements have to be fulfilled. The transmission line with limited channel capacity is a very difficult medium. A huge effort is needed for modulation, equalization and channel coding to achieve a reliable data transmission. Telecom & IT has dominated the market during the forecast period. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Cisco systems, Juniper Networks Inc., BMC Software, CA Technologies Inc., Riverbed Technology, SolarWinds Inc., Nokia Corporation, Micro Focus, and Kentik.