2024 Global Market Overview: Network Configuration and Change Management Innovations

"The Business Research Company recently released a comprehensive report on the Global Network Configuration And Change Management Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The network configuration and change management market size has grown rapidly in recent years. It will grow from $1.72 billion in 2023 to $1.91 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to increasing complexity of network environments, Growing security concerns, rise of digital transformation, need for operational efficiency, growth of remote workforce, rise of devOps and agile practices.

The network configuration and change management market size is expected to see rapid growth in the next few years. It will grow to $2.87 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to increasing adoption of cloud-based infrastructure, Emphasis on zero trust security models, proliferation of internet of things (IoT) devices, expansion of edge computing, focus on network automation and orchestration. Major trends in the forecast period include cloud-native solutions, zero trust security, network performance optimization, edge computing management, enhanced visibility and analytics.

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Market Drivers and Trends:

The growing cybersecurity threats are expected to propel the growth of the network configuration and change management market going forward. Cybersecurity threats refer to the prevalence and sophistication of malicious activities, attacks, and vulnerabilities targeting digital systems, networks, and data. The increase in cybersecurity threats is due to technological advancements, economic incentives, human factors, and a lack of security awareness among individuals. Network configuration change management is vital for cybersecurity, enabling quick identification of changes, preventing unauthorized alterations, and aiding incident response efforts. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the number of cyberattack reports received in 2022 was 76,000, an increase of 13% from 2021. Therefore, the growing cybersecurity threats are driving the growth of the network configuration change management market.

Major companies operating in the network configuration and change management market are focusing on developing innovative solutions, such as cloud-based networking platforms, to gain a competitive edge in the market. A cloud-based networking platform is a software-defined networking (SDN) solution that enables organizations to manage and access cloud-based and on-premises network infrastructures from a single interface. For instance, in June 2023, Cisco Systems, Inc., a US-based technology company, launched the Cisco Networking Cloud. This platform simplifies the management of networking gear and offers a single-platform experience for managing all networking domains, from campus to data centers to the Internet. The platform provides a unified interface for overseeing both cloud-based and on-premises assets. This consolidated experience aids in breaking down silos, guaranteeing performance, and lessening human workloads, thereby becoming a beneficial resource for organizations.

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Major Key Players of the Market:

Huawei Technologies Co. Ltd., Accentur*e Plc, Cisco Systems Inc., Broadcom Inc., Nokia Corporation, Palo Alto Networks Inc., Juniper Networks Inc., Fortinet Inc., Arista Networks Inc., Citrix Systems Inc., Splunk Inc., F5 Networks Inc., Check Point Software Technologies Ltd., Extreme Networks Inc., Zscaler Inc., Netscout Systems, SolarWinds Worldwide LLC, Riverbed Technology Inc., Gigamon Inc., FireEye Inc., Radware Ltd., A10 Networks Inc., Blue Coat Systems, Silver Peak Systems Inc., Opengear Inc.

Network Configuration And Change Management Market 2024 Key Insights:

• The network configuration and change management market size is expected to see rapid growth in the next few years. It will grow to $2.87 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%.
• Cybersecurity Threats Fueling Network Configuration And Change Management Market Growth
• Cloud-Based Networking Platforms Transforming Network Configuration And Change Management
• North America was the largest region in the network configuration and change management market in 2023

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