TOKYO, July 6, 2023 (GLOBE NEWSWIRE) — The Global Network Analytics Market The size accounted for USD 2.5 billion in 2022 and is projected to reach a market size of USD 15.3 billion by 2032, growing at a CAGR of 20.1% from 2023 to 2032.
Network Analytics Market Highlights and Statistics:
The global network analytics market was valued at USD 2.5 billion in 2022 and is expected to reach USD 15.3 billion by 2032, growing at a CAGR of 20.1% from 2023 to 2032. The market is driven by factors such as the increasing complexity of networks, the rise of cyber threats, the need to optimize the network and the growing adoption of cloud-based solutions. In addition, the emergence of technologies such as artificial intelligence (AI) and machine learning (ML) is driving the growth of the market.
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Network Analytics Market Report Coverage:
Network Analytics Market Analysis:
The network analytics market is experiencing substantial growth, driven by increasing demand for advanced network monitoring, security and optimization solutions. The market offers opportunities in areas such as AI-driven analytics, cloud-based solutions, security analytics and application performance management. Factors fueling market growth include network complexity, increasing cyber threats, network optimization needs, and cloud adoption. However, challenges related to data volume and complexity, data security, and integration with existing infrastructure need to be addressed. The market can be segmented based on deployment type, organization size, application, industry vertical, and region. North America leads the market, followed by Europe and Asia Pacific. Key players are focusing on innovation, partnerships and expanding their product portfolios to gain competitive advantage. As organizations continue to prioritize network performance and security, the network analytics market is expected to witness sustained growth and play a crucial role in improving network operations across the industries
Network Analytics Market Trends:
AI and ML-based analytics: Integrating AI and ML technologies into network analytics solutions enables advanced anomaly detection, predictive analytics, and automated network optimization. These technologies improve the accuracy and efficiency of network analysis processes. Cloud-based network analytics: The adoption of cloud-based network analytics solutions is on the rise as they offer scalability, flexibility and cost-effectiveness. Cloud-based solutions allow organizations to harness the power of network analytics without large infrastructure investments. Advanced security analytics solutions analyze network traffic patterns, identify anomalies, and provide real-time threat intelligence to improve network security. Application Performance Management: Network analytics helps organizations monitor and optimize application performance by analyzing network data related to latency, packet loss, and bandwidth. use This trend enables better user experiences and efficient application delivery.
Network Analytics Market Growth Drivers:
Increased network complexity: With the proliferation of devices, applications and data traffic, networks have become more complex. Network analytics solutions help organizations manage and optimize their networks in the face of this complexity, improving performance and user experiences. Growing Cyber Threats: The growing number and sophistication of cyber threats pose significant risks to organizations’ networks. Network analytics solutions play a crucial role in detecting and mitigating these threats by monitoring network traffic, identifying anomalies, and providing real-time alerts. Network optimization and cost reduction: Network analysis enables organizations to identify inefficiencies, bottlenecks and optimization opportunities in their networks. . By optimizing network performance, organizations can reduce costs, improve productivity, and provide better services to their users. Cloud adoption and virtualization: The growing adoption of virtualization and cloud computing technologies requires robust network analytics solutions to ensure optimal performance, security, and resource allocation. in virtualized environments.
Network Analytics Market Challenges:
Data volume and complexity: The exponential growth of network data poses challenges in terms of data volume, variety and speed. Managing and analyzing large-scale network data requires robust infrastructure and advanced analytics capabilities.
Data security and privacy: Network analytics involves the collection and analysis of sensitive network data. Ensuring data security and privacy while performing network analytics is a critical challenge that organizations must address.
Integration with existing network infrastructure: Integrating network analytics solutions with existing network infrastructure and systems can be complex, especially in organizations with legacy infrastructure. Ensuring seamless integration and interoperability is a challenge to overcome.
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Network Analytics Market Segmentation:
Component based
Network Intelligence Solutions Services
Based on deployment type
Depending on the size of the organizations
Application based
Risk Management and Error DetectionNetwork Performance ManagementCompliance ManagementQuality ManagementCustomer AnalyticsOther
Based on end users
Managed Service ProvidersTelecom Service ProvidersCloud Service ProvidersOther
Network Analytics Market Regional Analysis:
North America currently dominates the network analytics market, driven by the presence of large technology companies, early adoption of network analytics solutions, and the need for robust network security. Europe and Asia Pacific regions are also witnessing significant market growth due to increased digitization, expanding IT infrastructure, and growing cyber security concerns.
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Key Players of Network Analytics Market:
IBM Corporation, Cisco Systems, Inc., Hewlett Packard Enterprise (HPE) Company, Nokia Corporation, SolarWinds Worldwide, LLC, Juniper Networks, Inc., Huawei Technologies Co., Ltd., Broadcom Inc., Splunk Inc. and Accenture PLC.
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