Everyday internet is getting flooded with enormous volumes of data that include, business information, photos, videos streamed on social platforms such as YouTube, Instagram, and others. In addition, increasing the adoption of social media platforms such as Facebook, Instagram, Twitter, Snapchat, and others across global is also creating the demand for real-time data analysis of the network. The network traffic analytics For instance, according to DOMO, a software company “Data Never Sleeps 5.0” report, globally users watch over 4.1 million videos on YouTube in a minute, more than 120 people join LinkedIn, and over 46,740 photos get shared on Instagram.
The Increase in need for real-time network data analysis among enterprises is boosting the Network Traffic Analytics Market is expected to reach US$ 8.5 Bn during the forecast period at a 11.3 % CAGR.
Furthermore, an increasing need for real-time network data analysis and an increase in the adoption of advanced technologies are the crucial factors driving the market demand for network traffic analytics solutions. However, the availability of free network traffic analysis tools is anticipated to hamper the market growth in forthcoming years.
Rise in the amount of DDoS attacks
With the rapid development of the internet and an increase in organizations' digital infrastructure, online attacks are also growing significantly. In addition, the ever-growing increase in Distributed Denial of Service (DDoS) attacks are constantly challenging organizations that majorly depend on the internet. For instance, according to a survey by Corero Network Security, enterprises spend over $50,000 to eradicate a single DDoS attack. Moreover, the DDoS attack becomes more dangerous if it is distributed. Therefore, the increase in such malicious attacks organizations is adopting network traffic analytics solutions. Furthermore, by integrating with advanced technologies such as advanced analytics, Artificial Intelligence (AI), and Machine Learning (ML), users can easily detect network traffic behavior patterns linked with advanced threats.
Accessibility to free network traffic analysis tools
The network traffic analytics tools provided by numerous service providers comprise various subscription and service charges, due to which many enterprises are turning towards free network traffic analytics solutions. In addition, many small & medium enterprises have budget constraints due to which the majority of SMEs are adopting freely available network traffic analytics solutions. Thus, such factors are hampering the network traffic analytics market growth. However, such freely available network traffic analytics tools are risky to use as they do not involve after installation services, updates, and security layers. Thus, it can further cause data theft and loss.
The solutions segment is anticipated to experience the highest demand during the forecast period
An increase in need demand among network administrators to gather the data on the network traffic is the major factor fuelling the demand for network traffic analytics solutions. In addition, the growing number of organizations are demanding a tool that can scan and scrutinize the essential business data flowing through their business networks. Moreover, growing demand among organizations to discover, assess and process security threats is the major factor fuelling the demand for network traffic analysis solutions. Hence, such factors combined boosting the demand for network traffic analytics solutions.
Asia-Pacific will lead the growth in network traffic analytics Market
North America is anticipated to hold the major market share in the global network traffic analytics market. However, Asia-Pacific (APAC) is estimated to hold the highest CAGR during the forecast period. The growth of the network traffic analytics market in Asia-Pacific is predominantly attributed to the growing penetration of smartphones and internet users. In addition, an increase in cyber-attacks and rising demand among organizations to secure their business information from being breached is driving the demand for traffic analytics solutions in this region.
On the contrary, North America is likely to dominate the global network traffic analytics market due to, the presence of major market players such as Microsoft, IBM, Cisco, and the increase in adoption of the network traffic analytics solutions among the users are the major factors contributing to the growth in this region.
Key Market Players
• Nokia Networks
• Juniper Networks
• Palo Alto Networks
Network Traffic Analytics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||US$ 8.5 Bn|
|Growth Rate||CAGR of 11.3 % during 2022-2032|
|Segment Covered||by Component, by Deployment, by End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Cisco (US), Broadcom (US), IBM (US), HPE (US), Ericsson (Sweden), Huawei (China), SAS Institute (US), Nokia (Finland), Netscout (US), Accenture (Ireland), Sandvine (Canada), Ciena (US), TIBCO Software (US), Juniper Networks (US), SevOne (US), Nivid Technologies (US), Fortinet (US), Extreme Networks (US), Innowireless (South Korea), Actix (UK) and NetVelocity (US)|
Key Segment Of The Network Traffic Analytics Market
By Deployment Type, 2022-2032 (USD Million)
• Cloud based
By User Type, 2022-2032 (USD Million)
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
By Industry Vertical, 2022-2032 (USD Million)
• Banking, Financial Services and Insurance (BFSI)
• Energy and Utilities
• Telecom and IT
Regional Overview, 2022-2032 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa