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Global Network Traffic Analytics Market Size, Share and Global Outlook 2022-2030

09-23-2022 07:05 AM CET | Media & Telecommunications

Press release from: Inkwood Research

NETWORK TRAFFIC ANALYTICS MARKET

NETWORK TRAFFIC ANALYTICS MARKET

According to market research estimations put forth by Inkwood Research, the Global Network Traffic Analytics Market is projected to register a CAGR of 22.68% in terms of revenue during the forecasting years of 2019-2028.
"Browse 38 Market Data Tables and 43 Figures spread over 188 Pages, along with an in-depth TOC on the Global Network Traffic Analytics Market Forecast 2019-2028."

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The network is the cornerstone of every organization, since it is the medium for sharing and communicating information and resources. Thus the security of the network becomes a focal point. Network traffic analytics records, studies, and analyzes network traffic for improving network operations and security. The primary focus of network traffic analytics is real-time threat identification. It can also aid in providing a richer perspective on activity and help facilitate a response. Organizations have been mining network traffic data for decades for enhancing bandwidth as enterprise performance. These security solutions evaluate traffic and its flow, thereby building a baseline of traffic patterns.

Rising Distributed Denial of Service (DDoS) & Ransomware Attacks impacts Market Growth
There has been an increase in the threat of ransomware and distributed denial of service (DDoS) attacks, fueled by easy access to easy-to-use tools. They directly attack business systems and individuals, incurring huge personal and financial losses. The rising number of attacks on cloud and authentication networks has challenged the conventional IT network infrastructure. Attacks like Wannacry have thwarted multiple vulnerabilities affecting networks extremely quickly, causing to terminate healthcare services, factory production lines, and commercial systems. DDoS attacks rose by 25% in 2015, and are projected to increase by 2.6 times to 17 million by the year 2020, as per Corero. Such distressing growth in network attacks has been a major factor propelling the adoption of network traffic analytics solutions.
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Data Center is estimated to Record the Highest CAGR in the End-User Segment
A data center is a physical space utilized by large and small & medium companies for storing their crucial data and applications. They provide services like data networking and management, data recovery, data storage, and backup. They form an instrumental part of the large enterprises. Many enterprises are consolidating them with hybrid, public, and private cloud services. Such a hybrid approach results in the accumulation of a large number of enterprise resources that get shared among various teams with the enterprise. This is projected to increase the demand for network traffic management in the forthcoming years. Also, the growing data centers result in the generation of data, wherein it becomes necessary to identify network issues and threats, usage spikes, provide high-quality services. Such factors are set to result in surging demands for network traffic analytics solutions among data center users.

Asia Pacific is anticipated to Register the Highest CAGR by 2028
The Asia Pacific region's growth prospects are determined by the rising adoption of network traffic analytics solutions by enterprise customers in conducive economies like India, China, and Australia. There also has been a considerable increase in the number of internet and smartphone users. The growth is also supplemented by the rising disposable income of people in Asian countries, which further promotes the use of the internet of things (IoT), cloud computing, and connected devices. Moreover, cyber-attacks have been rising, and it is creating a demand for such security solutions by various businesses so as to secure their data and information.
The market encompasses various regional and global players, and had high barriers for the entry of new players. Still, the new entrants have had gained traction in the market. The market aspects include increasing levels of product penetration, high levels of competition, and high/moderate product differentiation. Some of the eminent companies in the market include, Solarwinds Corporation, Genie Networks Ltd, Juniper Networks Inc, Palo Alto Networks Inc, Broadcom Inc (Symantec), etc.

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