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The network management system market is growing exponentially because of its potential to monitor the performance and functionality of network elements.
FREMONT, CA: Globally, the network management system market has the potential to grow rapidly during the forecast period due to a rapidly growing infrastructure. In the communication and technology industry sector, key factors for the growth of network management system solutions in the global market are the heavy investments made in the research and development of network infrastructure by key players.
A surge in demand for network management system solutions is fueling market growth and driving the demand for a variety of network management systems across multiple industrial verticals because of the increasing demand from companies and enterprises to enhance their Quality of Service (QoS) and Quality of Experience (QoE). Network management system solutions have been in huge demand in the global market because they can be used in performance monitoring to monitor network elements' functionality, which has been a prime reason for their adoption in global markets.
There are two components of the network management system market - solutions and services - and the services segment is expected to see significant growth over the next few years. As a result of the large-scale adoption of network management system solutions among service providers and enterprises, the demand for services like integration and deployment, consulting, maintenance, support, and training has increased dramatically. Depending on the deployment model, a network management system can be implemented in the cloud or on-premises.
Depending on the size of the enterprise, biometric services are segmented into small, medium, and large sizes. Due to the high-scale adoption and demand of network management systems among large companies, the large enterprise sector is likely to show prominent growth.
North America will see substantial growth in the network management system market due to the widespread adoption of network management system solutions and rapid growth in infrastructure. It will enable them to manage advanced networks and virtualize their IT environments.
Network management systems are becoming increasingly popular as global network infrastructures grow, which contributes to the growth of these systems. Network infrastructure management is a crucial aspect of digital business because it plays a vital role in business operations. Organizations and enterprises invest heavily in modern network infrastructure technologies such as IP networking, Network Function Virtualization (NFV), Software Defined Networking, cloud services, and more to streamline their business operations. The growth in the network management system market is driven by the adoption of cloud infrastructure and growing network infrastructure in recent years.
Network management system solutions are under-advertised, and free management tools are not readily available, a major restraint on the market. A substantial hindrance to the market growth of network management systems is the availability of free network management tools that offer applications identical to those offered by licensed network management systems. Enterprise and company awareness of network management system benefits also limits demand and growth in the market for network management systems.