Global Market Insights added a report on global Network Management Systems (NMS) Market that provide in-depth information about market overview, top vendors, Key market highlights, product types, market drivers, challenges, trends, industry landscape, size and forecast, five forces analysis, Key leading countries/Region.
The demand for NMS in banks and financial institutions is expected to increase over the forecast period as these institutions have a highly-interconnected network infrastructure to offer a wide range of services to customers. As banks have increasingly become targets for hackers and DoS attacks, it becomes crucial for banking institutions to adopt NMS to monitor the banking systems. To ensure that these institutions are operating more securely and efficiently, IT professionals use these management solutions to increase performance and improve the security of the banks’ IT infrastructure.
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Another factor fueling the growth of the network management systems (NMS) market is the explosive growth of data traffic with a surge in smartphone penetration and improved network connectivity. As the increasing volume of data packets in networks reduces the efficiency and predictability of the networks, operators implement NMS to manage network resources more efficiently.
The network management systems (NMS) market is also driven by intent-based networking, which incorporates AI and machine learning to automate administrative tasks across a network. With the profound growth of data centers and cloud IoT platforms, the demand for self-managing networks will increase over the forecast timeline, thereby leading to a swift increase in the network management systems (NMS) market growth.
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A rapid growth of the telecom industry in Asia Pacific, particularly in China and India, backed up by significant investments from government agencies will accelerate the adoption of NMS. For instance, in January 2017, the Chinese government reduced the subsidies and eased the rules to attract more private investments to bolster its internet services. According to the IBEF, the increasing penetration of smartphones and a decline in data costs are expected to add 500 million new internet users in India over the next five years.
North America is expected to hold a major share of the network management systems (NMS) market due to the widespread deployment of management systems to monitor attacks on mission-critical communication networks. According to the Identity theft Resource Center (ITRC), the U.S. recorded 1,579 breaches in 2017, indicating a 44.7 percent increase over the record figures reported for 2016.
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Major companies operating in the network management systems (NMS) market are BMC Software, Cisco, CA Technologies, AppNeta, Extreme Networks, Accedian, HelpSystems, Ipswitch, Kentik, Micro Focus, NETSOCUT, Nokia, Riverbed Technology, SolarWinds, VIAVI Solutions, Flowmon Networks, Paessler, Colasoft, and Cubro Network Visibility. Global wireless communication solution providers and network equipment manufacturers are introducing new network monitoring and management solutions to enable operators to effectively manage their networks.