Network Traffic Analytics Market Outlook, Forecasts 2018 to 2024 and Key Players: Microsoft, Cisco, IBM, Nokia Networks, Juniper Networks, Symantec, Flowmon, Bradford Networks, Allot Communication, Accenture, Kentik, Genie Networks, Huawei, Plixer, Zenoss
The rapid growth in cloud-based traffic is mainly driving the network traffic analytics market. The IT industry has adopted cloud technology as a flexible networking solution to meet the increasing needs of enterprises and consumers. The cloud data center traffic is projected to rise exponentially from 3.8 ZB in 2015 to around 14 ZB by 2020. As the cloud traffic increases, there is a corresponding increase in the need to monitor, manage, and secure the ever-growing big data. Owing to this, the network traffic analytics for cloud auditing is important so that the users can maintain their information security on the network.
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The network security solution is growing at the fastest rate with a CAGR of 24.1% over the forecast timeline. Due to the rising advent of digitalization and the adoption of technologies, such as IoT and cloud computing, the amount of data generated grew tremendously. This growth in big data requires effective monitoring and storage as they fall prey to various malicious attacks. Therefore, network security solutions are used to detect and block malicious attacks throughout the network. The governments worldwide are investing funds and implementing rules and regulations to enhance the cybersecurity offerings of their country.
The solutions segment dominates the network traffic analytics market and held around 71% of the market share in 2017. Due to an enormous rise in the network traffic, the companies face inadequacy in providing network-wide visibility. Hence, there is a rise in the installation of network traffic analytics solutions. The network traffic monitoring leads the solution segment as it ensures the smooth functioning of the computer network by incorporating packet recapturing and network sniffing techniques and review every incoming and outgoing packet.
The IT & telecom enterprises are anticipated to dominate the network traffic analytics market by 2024. The increased worldwide adoption rate of the internet with an enhanced usage of social networking platform and the rise in smartphone penetration rate are the major factors driving the network traffic analytics market demand. Telecommunication companies are investing millions of dollars and entering into strategic partnerships to boost their network traffic management platform, enhancing their service offerings and gaining a competitive edge in the market.
• Advancement in network infrastructure
• Rise in the amount of DDoS attacks
• Growth in the adoption of IoT and BYOD and connected devices
• Exponential rise in the cloud traffic worldwide
• Increasing demand for IT budget in security sector
• Development and growth of SaaS-enabled network traffic analytics solutions
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North America held around 52% of the market share in 2017 and is anticipated to remain the network traffic analytics market leader over the forecast timeframe. The major factors contributing to the growth of the region include the early adoption of the network traffic analytics solutions along with the presence of the leading industry players including Cisco, IBM, and Microsoft. The companies operating in this region are also entering into strategic partnerships to expand their businesses offerings.
The European network traffic analytics market held around 26% of the industry share in 2017. The region has the presence of some of the leading telecom companies in the world, such as Vodafone, SoftBank Group, and Telefonica S.A., fueling the market demand. Furthermore, the General Data Protection Regulation (GDPR) implemented by the government in May 2018 has laid down effective data privacy and security guidelines. This will prevent the companies from sharing the customer personal data without their consent and boosting the network traffic analytics market growth.
Some of the major vendors operating in the network traffic analytics market are Microsoft, Cisco, IBM, Nokia Networks, Juniper Networks, Symantec, Flowmon, Bradford Networks, Allot Communication, Palo Alto Networks, Ascom Holdings, SolarWinds, Accenture, Kentik, Genie Networks, Huawei, Plixer, and Zenoss.
Browse key industry insights spread across 230 pages with 399 market data tables & 38 figures & charts from the report, Network Traffic Analytics Market in detail along with the table of contents:
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