What's Driving the Network Traffic Analytics Market Trends? Key Companies - Ascom Holding AG, Accenture, Allot, Cisco, Huawei Technologies, IBM, Juniper Networks, Microsoft, Nokia, Palo Alto Networks, SolarWinds, Symantec

Network Traffic Analytics Market in Network security solutions segment is witnessing a widespread demand and is anticipated to expand at the fastest CAGR of 24.1% over 2018-2024. Enactment of various cybersecurity regulations in numerous countries along with growing severity of cyberattacks is boosting the network security solution market outlook.

Consulting services are also gaining major traction in network traffic analytics services market. Consulting services perform an array of diversified functions throughout a product's lifecycle, which comprises finding network vulnerabilities, managing cybersecurity, identifying & evaluating threats, and others.

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In the light of rapid adoption of advanced technologies such as cloud computing, IoT, and connected devices, network traffic analytics market is exhibiting exponential growth. In terms of revenue, market is anticipated to cross the USD 2,500 Mn mark by the end of 2024. Various industries, the IT, in particular, have embraced cloud technology at a torrid pace, which has led to an enormous rise in cloud-based traffic.

The massive rise in data not only raises the network traffic, but also makes capacity planning and network management tedious. Additionally, these connected devices are subject to threat from malicious attackers, which further intensifies network traffic analytics market demand. Adoption of network traffic analytics by cloud service providers to monitor network traffic, data movement, and application activity is further driving the global trends.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Ascom Holding AG
2. Accenture
3. Allot
4. Cisco
5. Huawei Technologies
6. IBM
7. Juniper Networks
8. Microsoft
9. Nokia
10. Palo Alto Networks
11. SolarWinds
12. Symantec

The competitive landscape of market comprises renowned strategies such as advanced product developments and M&As. The aforesaid can be manifested by the recent partnership between Barefoot Networks with Netsia Networks in 2018. Both the US-based companies joined forces to enable service providers access complete network visibility. Other factors propelling network traffic analytics market include surging adoption rate among end use industries, technological progress made in data management arena, and increasing investments towards facilitating data infrastructure.

SaaS-based solutions are being vigorously adopted by consumers due to various desirable credentials such as enhanced scalability & administration, improved security, convenience of data storage, and improved productivity. Moreover, timely upgradations without additional capital expenditure, help enterprises safeguard themselves from cyberattacks, which is a key factor impacting network traffic analytics market outlook.

Rising penetration of smartphones as well as internet connectivity across the globe has created lucrative opportunities for the market. Telecommunication companies are outlaying massive amounts to strengthen their network traffic management mechanisms, which is likely to fuel the expansion of market. In terms of revenue, IT & Telecom companies are slated to dominate the network traffic analytics market landscape by 2024.

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In 2017, North America market stood at USD 411 Mn. An established IT & telecom industry is catalyzing the regional growth. Moreover, presence of major technology behemoths such as Juniper Networks, AT&T, Cisco, Google, Microsoft, and others based in the region is also propelling the market share. In addition, high cloud adoption rate, rise in the incidence rate of cyberattacks, proliferation of IoT devices, and consolidating government support are other major factors fueling North America network traffic analytics market.

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