Network Analytics Market is expecting a 16.3% CAGR growth by the end of the global forecast between 2021-2030
Market Scope
Market
Research Future (MRFR) asserts that the worldwide market of The network
analytics business is expecting a 16.3% CAGR growth by the end of the global
forecast between 2021-2030, and a market valuation of USD 4.2 billion.
Market
Insights
The
network
analytics market is expected to exhibit healthy growth in the
foreseeable future. The real-time network data generated is high. The challenge
lies in the analysis of large volumes of data. The rise in demand for advanced
analytics applications and upsurge in the adoption of such analytical tools is
noted. Network analytics provide network intelligence solutions, and
professional and managed services. The availability of various service options
is likely to gain traction for the global market. The rapid expansion of the network analytics
market can be attributed to the ability of such solutions to plan and manage
network capacity with high speed and efficacy.
Network
analytics technology aids in seamless advanced traffic forecasting that
comprises data load forecasting, analysis of device and application
performances, and user behavior. In addition, the optimization of networks
enabled by network analytics helps in the retention of customers and expand the
consumer base by providing a better experience. These causes are likely to
propel the market growth. An increase in the adoption rate of network analytics
solutions is observed due to the proactive need to overcome the threat of
misuse of critical data of organizations. Moreover, rise in the number of DDoS
attacks, especially in the BFSI and the government sectors has resulted in the
high demand for network analytics solutions.
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Segmentation:
The
global network analytics market has been classified by type, deployment,
organization size, and end-user. By type, the network analytics market has been
divided into solutions and services. By deployment, network analytics market
has been divided into cloud and on-premise. By organization size, network
analytics market has been segmented into small & medium enterprises, and
large enterprises. SMEs are actively implementing network analytical solutions.
By end-user, network analytics market has been divided into cloud service
providers and communication service providers. The cloud-services experience
higher number of adoptions.
Regional
Outlook
The
network analytics market in North America is estimated to hold the lion’s share
of the global market due to active deployment of analytics solutions across
different verticals. Furthermore, the existence of scalable infrastructure,
increase in cyber-attacks risk, rise in issues with malware, and higher rate of
technology adoption are factors that are likely to impel the regional network
analytics market. The market in Europe is expected to show considerable growth.
The Asia Pacific market of network analytics market is expected to show healthy
growth during the forecast years. This is due to factors, such as increase in
the use of smartphones, and the presence of numerous communication and cloud
service providers.
Key
Players
Well-known
players of the network analytics market, which are mentioned by MRFR. They are;
Accenture PLC (Ireland), Alcatel-Lucent S.A. (France), Juniper Networks (U.S.),
Cisco Systems, Inc. (U.S.), Brocade Communications Systems, Inc. (U.S.), HP
(U.S.), Ascom Holdings AG (Switzerland), Bradford Networks, Inc. (U.S.),
Sandvine Inc. (Canada), Allot Communication (Israel), Tibco Software (U.S.),
IBM Corporation (U.S.), and others.
The
nature of Network Analytics market is highly competitive. In order to maintain
the market position, key players are adopting robust and strategic planning.
The report details various dynamics and trends of organizations and new
entrants into the competitive landscape. Market leaders are making continuous
efforts in innovation. They are seeking market explosion through various
strategic partnerships, mergers and acquisitions, rise in investments in
research and development, and increase in the cost-affordable product
portfolio.
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