Global Network Traffic Analytics Market to observe 20% CAGR 2024: Top Key Players Include Huawei Technologies, IBM, Juniper Networks, Microsoft, Nokia, SolarWinds, Symantec, Cisco, Accenture, Allot, Ascom Holding AG, Zenoss
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Speaking along the same line, in UK, high-speed network recording, traffic analytics hosting and playback specialist, Endace and renowned network and security operations service provider, Gigamon, have signed on a technology partnership recently. Through this strategic collaboration, they are planning to enhance visibility into network traffic for NetOps, DevOps, and SecOps teams. In line with the futuristic approach to improve network traffic visibility, both the companies will combine their analytics and security delivery platforms that would investigate security threats and resolve application & network performance issues. The development of high performance hosting for performance analytics and network security will have a positive influence on the service based network traffic analytics industry. Reportedly, with increasing popularity, the service based network traffic market will grow at an annual growth rate of nearly 24.4% over 2018-2024.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Huawei Technologies
3. Juniper Networks
11. Ascom Holding AG
North America dominates the network traffic analytics market with a revenue of USD 411 million in 2017. The region is home to the most advanced software and IT industry including AT&T, Cisco, IBM, Amazon, Google, Microsoft, and Juniper Networks and is a world leader in the cloud computing market. Other factors contributing to the market growth include the accessibility to advanced infrastructure, the rise in the number of cyber-attacks, the emergence of IoT devices, and advanced technology adoption. The government is also investing funds in various technologies, which has a positive impact on the network traffic analytics market.
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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.
The Asia Pacific network traffic analytics market is growing at the fastest rate due to an increase in disposable income, rising penetration of smartphones & internet users, and an increment in the usage of advanced technologies such as IoT, connected devices, and cloud computing. More than 70% of the enterprises operating in this region are projected to adopt cloud computing technology, resulting the cloud traffic to reach 2.3 ZB by 2019. Furthermore, there is a rapid increase in cyberattacks in this region as the enterprises are easily vulnerable due to weak cybersecurity investments and greater exposure to information critical systems to cyber risks. Therefore, the organizations are readily adopting the traffic analytics solutions to ensure their safety against cyber attacks.
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.
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 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.
Companies in the BFSI sector need to guarantee a reliable, safe and consistent service to retain customers, making them uniquely positioned among other industry domains. A network breach or downtime can result in distrust among the customers regarding the security of their savings, investments and private information.
The network traffic analytics market comprises of solution providers that offer centralized monitoring systems to track, analyze and resolve network issues on not only physical but also virtual platforms. This is also necessary as many businesses in the BFSI sector have a number of units dispersed throughout a region, requiring efficient system for collating network data from all the locations and display it on an integrated dashboard.
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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