Overview and Scope
Network analytics refers to the process of collecting, monitoring, analyzing, and interpreting data related to network traffic patterns, performance, and security events. It involves using various tools and techniques to gain insights into the behavior of networks, including routers, switches, servers, and other network devices.
Sizing and Forecast
The network analytics market size has grown exponentially in recent years. It will grow from $3.64 billion in 2023 to $4.49 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to increasing network complexity, growing cybersecurity concern, demand for operational efficiency, and regulatory compliance requirement.
The network analytics market size is expected to see exponential growth in the next few years. It will grow to $10.49 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The growth in the forecast period can be attributed to adoption of AI and machine learning, growth of edge computing, expansion of SD-wan and cloud adoption, and demand for predictive insight. Major trends in the forecast period include adoption of artificial intelligence and machine learning, emphasis on cloud-native solutions, focus on security analytics, convergence of network and application, and evolution of 5G networks.
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Segmentation & Regional Insights
The network analytics market covered in this report is segmented –
1) By Component: Network Intelligence Solutions, Services
2) By Deployment: Cloud, On-Premise
3) By Enterprise Size: Large, Small And Medium-Sized Enterprises
4) By Application: Customer Analysis, Risk Management, Fault Detection, Network Performance Management, Quality Management, Other Applications
5) By End-User: Cloud Service Providers, Managed Service Providers, Telecom Providers, Other End-Users
North America was the largest region in the network analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing sophistication of cyber threats is expected to propel the growth of the network analytics market going forward. Cyber threats refer to malicious activities or attacks that target computer systems, networks, or digital devices to disrupt operations, steal sensitive information, or cause harm. Cyber threats are increasing due to technological advancements, more excellent connectivity, and the growing sophistication of cybercriminals. Network analytics is instrumental in reducing cyber threats by providing real-time monitoring, detection, and analysis of network traffic patterns. For instance, in November 2022, according to the Australian Cyber Security Centre, an Australian-based government agency, there were around 76,000 reports of cyberattacks in 2022, a 13% rise from the previous year. Therefore, the increasing sophistication of cyber threats is driving the growth of the network analytics market.
Key Industry Players
Major companies operating in the network analytics market report are Dell Technologies; Huawei; Accenture PLC; IBM Corporation; Cisco Systems Inc.; Broadcom; Hewlett Packard Enterprise Company; Actix; Ericsson Inc.; Nokia Corporation; VMware Inc.; Juniper Networks; Fortinet; Arista Networks; Akamai Technologies; Citrix Systems Inc.; SAS Institute Inc.; F5 Networks; Alcatel-Lucent Enterprise SA; Riverbed Technology; Extreme Networks; Tibco Software Inc.; Netscout; Sandvine Corporation; Allot Communication; Nivid Technologies; Bradford Networks Inc.
The network analytics market report table of contents includes:
1. Executive Summary
2. Network Analytics Market Characteristics
3. Network Analytics Market Trends And Strategies
4. Network Analytics Market – Macro Economic Scenario
5. Global Network Analytics Market Size and Growth
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31. Network Analytics Market Other Major And Innovative Companies
32. Global Network Analytics Market Competitive Benchmarking
33. Global Network Analytics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Network Analytics Market
35. Network Analytics Market Future Outlook and Potential Analysis
36.Appendix
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