Network Traffic Analytics Market 2018 Trends and Key Industry Players 2024: Cisco, Microsoft, IBM, Symantec, Juniper Networks, Nokia, Accenture, Palo Alto Networks, Huawei Technologies, SolarWinds
Network Traffic Analytics Market in 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.
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The development of SaaS enabled network traffic analytics solutions has accelerated the overall market growth. Due to the growing technological advancements and market consolidation, enterprises are offering SaaS enabled solutions to their customers. They offer multiple advantages such as enhanced scalability and administration, improved productivity, data storage convenience, and delivery of new services with optimum resilience and security. They also automatically update products empowering them to prevent the growing cyber-security threats.
The fastest growing segment in the network traffic analytics market comprises cloud service providers. These service providers are highly prone to cyber attacks due to the rise in the malware attacks including ransomware, banking malware, and scareware. Moreover, around 400,000 new malware attacks that target public clouds and SaaS providers and damage the critical data daily have been recognized. Hence, it is necessary for the cloud service providers to monitor network traffic, data movement, and application activity at all stages of the cloud environment, boosting the network traffic analytics market growth.
The on-premise deployment model held around 85% of the market share in 2017. This deployment model offers a reliable platform for storing information as they would send critical customer information directly from their web apps and mobile phones to the network traffic analytics service providers. However, the adoption of a cloud platform is projected to grow at a CAGR of 32% by 2024 due to the rapid increase in the number of data centers, generating a huge volume of information.
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. For instance, in July 2017, KDDI Corporation, a Japanese telecom operator entered into a partnership with Kentik, a leading network traffic intelligence firm. This will allow KDDI to deploy the company’s Kentik Detect solution for real-time network monitoring and planning efficiencies.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
5. Juniper Networks
8. Palo Alto Networks
9. Huawei Technologies
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Network Traffic Analytics Market, By Component
o Network Traffic Monitoring
o Network Visibility
o Network Performance
o Network Security
o Network Capacity Planning
o Integration and Deployment Service
o Consulting Service
o Training and Support Service
o Managed Service
Network Traffic Analytics Market, By Deployment Model
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.
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:
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 Cisco, Microsoft, IBM, Symantec, Juniper Networks, Nokia, Kentik, Flowmon Networks, Plixer, SolarWinds, Allot Communication, Accenture, Bradford Networks, Ascom Holding, Palo Alto Networks, Huawei Technologies, Netreo, Inc., Genie Networks, and Zenoss.
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