According to the new report published by Industry Research Place Global Remote Monitoring and Management (RMM) Market is valued at USD 13994.55 Million in 2020 and is expected to reach USD 18530.95 Million by 2026 with the CAGR of 4.85 % over the forecast period.
This report analyses the global market for Remote Monitoring and Management (RMM). The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
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COVID-19 Impact on Global Remote Monitoring and Management (RMM) Market
Technology sector has realized significant impact of the COVID-19 disruption around the world. It has impacted the raw material supply, to unsettling of the entire electronics value chain, causing the price augmentation of the products. From a constructive viewpoint, the disruption has caused a speeding up of remote working, and a quick focus on assessing and de-risking the end-to-end value chain.
The supply chain restrains may result in delayed in the launch of the new smartphones. Also, the customers base contraction risk due to the change in expense pattern.
Though factories in Asia are reopening, to run the production line with full efficiency is getting more challenging for the companies. There could be significant short and potential long term impacts.
Software seems to be the booster dose for the IT industry, contrary to the short supply of the parts in the supply chain that pulling down the IT industry.
Companies with the strong remote working capabilities have excelled the significant growth.
Security software will see third-order benefits from an increasing remote workforce. IT expenses on security software will upsurge as organizations competition to secure endpoints, particularly cloud-based tools, log management, and VPNs.
The necessity for ever-faster access to data and automation will augment the attention on network equipment and communications as never before, speeding up 5G network deployments and adoption of 5G equipment.
Remote Monitoring & Management (RMM) tools are used to gather data about network applications and hardware to resolve IT issues efficiently and quickly across the world, referred to as remote IT management, designed to help managed service providers (MSPs) proactively and remotely.
Due to disruption of COVID-19 pandemic around the globe, government issued policies to curb the spread of COVID-19 virus. Conforming to the policies companies has to announce work from home. This has led to employees working from remote locations with remote networking, resulting in increased demand for remote monitoring & management tools. Remote Monitoring & Management tools help IT service providers to monitor networks and endpoints from a remote location and enable them to fix network problems from anywhere.
This report highlights the impact of the Covid-19 pandemic on Global Remote Monitoring and Management (RMM) Market. By combining data from a range of industry sources, as well as predictive modeling and market trend analysis, we provide an evidence-based set of projections that will allow organizations to plan their strategies more effectively. The report gives in depth analysis of short term and long term impacts of epidemic on the industry.
The COVID 19 impact assessment of Global Remote Monitoring and Management (RMM) Market is divided into following sections:
Section1: Pre Lockdown
This part of the report looks at how market changed throughout early 2020, as the spread of COVID-19 intensified on different geographies.
Section2: During Lockdown
This part of the report collects data from across the sector to know how people have responded to lockdown. It analyses the impact of the epidemic on the workforce in the industry and disruption in various regions and countries
Section3: Post Lockdown
This part of the report project what sector recovery could look like and summarizes ways in which the business landscape could shift.
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oSmall & Medium enterprises
The Global Remote Monitoring and Management (RMM) Software Market in terms of revenue is dominated by USA with the highest market share of 30.58% in 2019 and is projected to reach at revenue of USD 5673.40 Million in 2026 at CAGR of 4.87% in the forecast period 2020-2026.
On the basis of Deployment of Remote Monitoring and Management (RMM) Software Market is divided into Cloud and On- premise.
Cloud segment dominated the deployment segment and was worth of USD 9195.15 Million in 2019 and it is expected to reach USD 12854.37 Million in 2026.
On the basis of Application of Remote Monitoring and Management (RMM) Software Market is divided into Small & Medium enterprises and Large enterprises.
Small & Medium Enterprises segment dominated the application segment and was worth of USD 8184.57 Million in 2019 and it is expected to reach USD 11468.85 Million in 2026.
The Future for IT is bright; internet connectivity will make the devices smart. These days’ industries are making great shift towards computerizing and atomizing their systems, this will create great demand for the remote monitoring and management (RMM) software.
Emergence of 5G technology will provide the seamless connectivity, would help in providing extensive service to the clients. The network connectivity will provide more access to the small enterprises, adoption of RMM software from the small enterprises will foster the growth of RMM software market.
As the technology is evolving with great pace, businesses are getting more competitive and companies will be struggling to stay ahead of their competitors. One of the best ways to prosper involves outsourcing many business needs. Outsourcing will continue to grow, offers great opportunity to the RMM software market
Specialty RMM remote monitoring companies could fade into the past, as most business has a significant need for PSA (Professional Services Automation) RMM Integration and this should become a very popular feature soon. In addition, many companies want to enjoy a secure network but also want effective data backup, enhanced endpoint protection and assistance with patch management. The MSP (Managed Service Providers) taking care of these needs will be in demand in the future.
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ConnectWise acquired Continuum
In October 2019, ConnectWise acquired Continuum was originally a remote monitoring and management (RMM) software provider. Company now will operate under the ConnectWise brand name. ConnectWise also acquired Irving, Texas-based IT documentation software maker IT Boost.
Auvik Networks raised Series C financing
In 2017, Auvik Networks has raised CAD$20 million (US$15.58 million) in Series C financing as the company continues to expand its network-centric Remote Monitoring and Management (RMM) platform for MSPs.
SolarWinds MSP Building New IT Systems Prior To N-able Launch
The Durham, N.C.-based remote monitoring and management (RMM) provider will be rolling out new IT, accounting and email systems from scratch just months after Russian hackers attacked the SolarWinds Orion network monitoring platform. Now SolarWinds MSP will design its own IT environment called as N-able.
Perch Security launched threat monitoring services specifically for RMM software
In July 2020, Perch Security has launched threat monitoring services specifically for Remote Monitoring and Management software. Perch Security service initially supports ConnectWise Automate, with additional RMM platform support in the pipeline.
•An overview of the Global Remote Monitoring and Management (RMM) Market
•In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
•Global Remote Monitoring and Management (RMM) Market revenue data historic and forecast analysis (2016 to 2026)
•Characterization and quantification of the market segments for Remote Monitoring and Management (RMM) Market
•Market share analysis of key market participants and their competitive landscape
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Important Questions Answered by Global Remote Monitoring and Management (RMM) Market Report
•What is the impact of COVID 19 epidemic on the Global Remote Monitoring and Management (RMM) Market?
•Which is mostly affected region, country?
•Which is the current largest and fastest-growing region?
•What is the market size and growth rate of the Global Remote Monitoring and Management (RMM) Market?
•What are current factors affecting the growth of market?
•What are Key trends and opportunity areas?
•Within Remote Monitoring and Management (RMM) Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
•What are the major strategies adopted by leading market companies?
•What are company challenges and essential success factors by market segment?
•How company offerings and supply chain capabilities are shifting to meet emerging market needs?
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