The Latest Network Performance Monitoring Industry Statistics Explained
The global Network Performance Monitoring and Diagnostic market (NPMD) size was valued at $2.30 billion in 2020.
The statement means that the worldwide market for Network Performance Monitoring and Diagnostic (NPMD) technologies was estimated to be worth $2.30 billion in the year 2020. This figure reflects the total revenue generated by the sales of NPMD products and services across various regions and industries during that particular year. The NPMD market size serves as a key indicator of the demand and adoption of network monitoring and diagnostic solutions by organizations to ensure optimal performance and security of their network infrastructure. The growth or fluctuation in this market size over time can reveal trends in the importance placed on network performance management and the evolving needs of businesses to maintain efficient and reliable network operations.
The NPMD market is predicted to reach $3.3 billion by 2026 with a CAGR of 6.3% from 2021-2026.
This statistic indicates that the Network Performance Monitoring and Diagnostics (NPMD) market is forecasted to grow significantly over the next few years. Specifically, the market is expected to reach a value of $3.3 billion by the year 2026. The compound annual growth rate (CAGR) of the NPMD market from 2021 to 2026 is projected to be 6.3%. This suggests that the market is set to expand steadily at a rate of 6.3% per year, driven by factors such as increasing demand for network monitoring solutions, advancements in technology, and the evolving complexity of network infrastructures.
In the NPMD market, cloud-based solutions are expected to grow at the highest CAGR during the forecast period.
This statistic suggests that within the Network Performance Monitoring and Diagnostics (NPMD) market, cloud-based solutions are anticipated to experience the highest Compound Annual Growth Rate (CAGR) compared to other types of solutions over the forecast period. This indicates that there is a strong demand and increasing adoption of cloud-based NPMD solutions among businesses and organizations. This growth may be attributed to various factors such as the scalability, flexibility, and cost-effectiveness offered by cloud-based solutions, as well as the trend towards digital transformation and cloud migration in the IT industry. The statistic highlights the significant momentum and potential opportunities for vendors and providers offering cloud-based NPMD solutions in the market.
North America holds the largest market share in the global network performance monitoring market.
The statistic “North America holds the largest market share in the global network performance monitoring market” indicates that within the industry of network performance monitoring tools and services, North America, which includes countries such as the United States and Canada, has the highest proportion of market revenue compared to other regions worldwide. This suggests that North America has a strong presence and dominance in the market for network performance monitoring solutions, potentially driven by factors such as advanced technological infrastructure, high demand for efficient networking solutions, and a concentration of key industry players in the region. As a result, companies looking to invest or operate in the network performance monitoring sector may find North America to be a significant and influential market to consider.
89% of professionals predicted their network management/monitoring budget would increase or stay the same in 2021.
The statistic indicates that a large majority, specifically 89%, of professionals surveyed anticipated that their network management/monitoring budget would either increase or remain the same in 2021. This suggests a positive outlook towards the allocation of financial resources for network management and monitoring activities among professionals, possibly driven by factors such as the increasing reliance on digital technologies, the need for enhanced cybersecurity measures, and the growing complexity of network infrastructure. Such optimism in budget projections underscores the significance that organizations place on maintaining and improving their network management capabilities to ensure smooth operations and reliable performance in the rapidly evolving technological landscape.
Among enterprise IT networks, 45% take up to an hour to resolve network outages.
This statistic indicates that among enterprise IT networks, 45% of them require up to an hour to resolve network outages. This suggests that a significant proportion of enterprise IT networks experience downtime due to network outages, and the IT teams managing these networks need approximately an hour to identify and fix the issues causing the outages. The time taken to resolve network outages can have implications for business operations and productivity, highlighting the importance of effective network monitoring and troubleshooting tools to minimize downtime and disruption to the organization.
60% of companies with 1000+ employees experience multiple network outages each year.
The statistic ‘60% of companies with 1000+ employees experience multiple network outages each year’ indicates that a significant majority of large companies face the challenge of having their computer networks disrupted on multiple occasions annually. This high prevalence of network outages among such companies suggests that issues related to network stability and reliability remain a common concern in organizations with 1000 or more employees. These outages can lead to disruptions in operations, productivity losses, and potential financial implications for the affected companies. It highlights the importance of investing in robust network infrastructure, monitoring systems, and backup solutions to minimize the impact of such outages and ensure continuous business operations.
The network monitoring systems & services market is estimated to reach $11 billion by 2027, showing a CAGR of 9.5% over the forecast period.
This statistic indicates the projected growth and market size of the network monitoring systems and services industry, with an estimated value of $11 billion by the year 2027. The Compound Annual Growth Rate (CAGR) of 9.5% over the forecast period suggests a steady and consistent growth trajectory for the market. This growth is likely driven by increasing demand for network monitoring solutions to ensure the efficiency, security, and performance of modern networks, reflecting the ongoing digital transformation across various industries. As organizations continue to invest in technology infrastructure and cybersecurity measures, the network monitoring systems and services market is expected to expand significantly in the coming years.
In 2020, telecom sector contributed around 25% of the total growth of the network monitoring market.
This statistic indicates that in 2020, the telecom sector played a significant role in driving the growth of the network monitoring market. Specifically, around 25% of the total market growth can be attributed to the contributions made by the telecom sector. This suggests that the telecom industry’s investments, advancements, and increased demand for network monitoring technologies and services have been instrumental in driving the overall growth and expansion of the network monitoring market during the specified period. The substantial contribution from the telecom sector highlights its importance as a key player in shaping and influencing the dynamics of the network monitoring market.
The average cost of network downtime can average $300,000 per hour.
The statistic indicates that, on average, businesses incur a cost of $300,000 per hour of network downtime. This cost encompasses various components such as lost productivity, revenue, and potentially damage to reputation, among others. Network downtime refers to periods when a company’s computer network or system is not operational, leading to disruptions in business operations. The substantial financial impact highlighted by the statistic underscores the critical importance of maintaining reliable and efficient network infrastructure to mitigate the financial losses associated with downtime. Organizations must invest in robust network management practices and technologies to minimize the risk and cost of network outages.
IT professionals spend 33% of their time troubleshooting their networks.
The statistic that IT professionals spend 33% of their time troubleshooting their networks indicates the significant portion of work time dedicated to diagnosing and resolving network issues. Troubleshooting is a critical task for IT professionals as it helps ensure the smooth operation of computer systems and networks within organizations. This statistic suggests that IT professionals face a considerable amount of technical challenges that require troubleshooting skills and expertise to maintain network efficiency and minimize downtime. It highlights the importance of skilled IT professionals who can effectively troubleshoot network problems and underscores the need for efficient problem-solving techniques in the field of information technology.
In 2022, the APAC region is expected to become the second-largest market in the global NPMD market.
The statistic indicates that by the year 2022, the Asia-Pacific (APAC) region is projected to become the second-largest market in the global Network Performance Monitoring and Diagnostics (NPMD) market. This suggests that the demand for NPMD solutions in the APAC region is growing significantly, potentially driven by factors such as digital transformation initiatives, increasing network complexity, and the importance of ensuring optimal performance and security of networks. As a result, companies in the APAC region may increasingly invest in NPMD tools and technologies to enhance their network monitoring and troubleshooting capabilities, positioning the region as a key player in the global NPMD market.
Over 80% of businesses expect the complexity of their network infrastructure to increase in the near future.
The statistic indicates that a significant majority of businesses, exceeding 80%, anticipate a rise in the intricacy of their network infrastructure in the coming period. This expectation suggests that businesses recognize the evolving demands of their operations, such as increasing data volumes, advanced technologies, and expanding connectivity requirements. As a result, organizations are preparing for a more intricate network setup to support their activities effectively. This statistic highlights the need for businesses to stay ahead of technological advancements, adapt to changing operational landscapes, and invest in robust network infrastructure to meet future challenges and opportunities.
54% of IT professionals believe automation will have the most significant impact on managing network performance.
The statistic suggests that a majority of IT professionals, specifically 54%, hold the belief that automation will play a crucial role in managing network performance. This indicates a prevailing sentiment within the IT industry that automation technologies have the potential to bring about significant changes in how networks are monitored, optimized, and maintained. These professionals likely perceive automation as a way to enhance efficiency, reduce manual intervention, and improve the overall performance and reliability of networks. This statistic underscores the growing importance of automation in the IT landscape and signals a shift towards leveraging technology to streamline network management processes.
Over 65% of IT teams are investing in advanced network performance monitoring tools to support remote working needs as a response to COVID-19.
The statistic ‘Over 65% of IT teams are investing in advanced network performance monitoring tools to support remote working needs as a response to COVID-19’ indicates that a significant majority of IT teams are taking proactive measures to address the challenges posed by the global pandemic. With the sudden shift to remote work arrangements, organizations have realized the crucial importance of maintaining optimal network performance to ensure seamless communication and productivity for their employees. By investing in advanced monitoring tools, IT teams are seeking to enhance their ability to monitor and manage network performance effectively in the face of increased demand due to remote working scenarios. This statistic highlights the recognition of the critical role that advanced technology plays in enabling organizations to adapt and thrive in the evolving workplace landscape brought about by the pandemic.
References
0. – https://www.www.statista.com
1. – https://www.netbeez.net
2. – https://www.www.marketsandmarkets.com
3. – https://www.www.marketstudyreport.com
4. – https://www.www.360researchreports.com
5. – https://www.research.aimultiple.com
6. – https://www.www.itproportal.com
7. – https://www.www.comptia.org
8. – https://www.www.emergenresearch.com
9. – https://www.techjury.net
10. – https://www.www.globenewswire.com
11. – https://www.boldbusiness.com
12. – https://www.www.adeccogroup.com
13. – https://www.www.astuteanalytica.com
