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Network Traffic Analytics Market Evolving Technology, Segmentation and Industry Analysis 2020-2026 |Accenture, Ascom Holding AG, Bradford Networks, Cisco, Flowmon Networks, Genie Networks, Huawei, IBM, Juniper Networks

03-17-2020 02:04 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Network Traffic Analytics Market

Network Traffic Analytics Market

The network traffic analytics market, boasting a valuation of over USD 780 million worldwide in 2017, has evolved accordingly to provide solutions for conducting analytics on real-time network information. Essentially, the breakdown of network traffic helps to establish a normal working pattern of an organization's functioning, allowing easier recognition of components that seem out of the ordinary, like connection of any unregistered device or unusual traffic spike. Network monitoring, in a sense, adds a level of security against a probable event and enables the implementation of proactive safety measures. The BFSI sector, particularly, stands to benefit extremely from advancements within the network traffic analytics market.

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.

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Similar to the thousands of external transactions that organizations such as banks monitor every day, even internal network and communication is prone to slowness, errors and malicious attacks, presenting a need for the services of the network traffic analytics market. Network monitoring supplies extensive information on internal traffic, highlights slow applications and detects the presence of spywares that could jeopardize a company's image. The ability to monitor suspicious activity assists in spotting outflow of personal information of customers which could lead to huge financial thefts through banking platforms. For example, in 2015 a bank in Kiev, Ukraine, was informed that their ATMs are dispensing cash without authorization, and investigation into the case led to the discovery that the bank's internal computers are affected.

Company profiled in Network Traffic Analytics Market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
o Accenture
o Allot Communication
o Ascom Holdings
o Bradford Networks
o Cisco
o Flowmon
o Genie Networks
o Huawei
o IBM
o Juniper Networks
o Kentik
o Microsoft Corporation
o Netmon
o Inc.
o Netreo
o Inc.
o Nokia Networks
o Palo Alto Networks
o Plixer
o SolarWinds
o Symantec
o 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 analytics market will grow at an annual growth rate of nearly 24.4% over 2018-2024.

Currently, networking professionals are observing two main network issues including user experience and data breaches which are going to increase over the years ahead with the surging adoption of network automation technologies. The increasing deployment of machine learning practices to proliferate enterprise performance is slated to stimulate product demand significantly.

The growing concern among the IT companies about latency issues, network flows, network underutilization, and application access issues generated due to lack of security and performance improvements aids will fuel network traffic analytics market share. The increasing adoption of machine learning, cloud computing, IoT, and AI technologies by the technology companies for enhancing work efficiency is also poised to augment the need for traffic analytics. As per estimates, by the end of 2024, overall network traffic analytics market will surpass a revenue collection of USD 2,500 million.

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