Market Research Future (MRFR) asserts that the worldwide market of network analytics is expected to strike a 22% CAGR across the assessment period of 2016 to 2022 and attain a valuation of about USD 3.1 Billion by 2022.
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.
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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.
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 adoption.
Communication Service Provider 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 shows 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.
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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