Surging Digitalization Rate Propelling Growth of Network Telemetry Market

From around $300 million in 2020, the network telemetry market is set to grow rapidly in the coming years. The primary factor responsible for this growth is the increasing rate of digitalization, as it helps in enhancing data collection and decision making for businesses and improves the experience of consumers. For a better digital experience, network telemetry solutions are used to gather data about consumers' online activities, which is then sent to a central monitoring station for analysis, which ultimately helps in the provision of better products and services.

Another key factor supporting the growth of the network telemetry market is the growing number of network attacks and security breaches. The increasing use of the internet brings the threat of cyberattacks on the servers and networks of organizations. Entities with a malicious intent are hacking IT networks and stealing vital information using various sources, such as IoT devices, which are connected to the centralized network of companies. For protecting data and stopping cyberattacks, organizations are adopting network telemetry solutions.

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In the network telemetry market, when segmented based on component, the services category is set to grow with the higher CAGR in the coming years. It will be because the adoption of these solutions is rapidly increasing across organizations globally, which is leading to a rising demand for deployment services, consulting services, training services, and maintenance services. As the network telemetry approach is still new, companies require these services to understand and utilize it to its full potential.

Based on end user, the telecom service providers category is expected to demonstrate the fastest growth in the network telemetry market in the coming years. This will be because telecom companies are under pressure to cater to a widening customer base. As per the World Bank, from 76.162 in 2010, the number of mobile phone subscriptions per 100 people has surged to 107.521 in 2020, primarily driven by the government initiatives to enhance their telecommunications infrastructure and offer connectivity to rural residents. Thus, telcos are using network telemetry to manage and optimize their infrastructure.
Geographically, North America held the largest share in the network telemetry market in the preceding years. It is attributed to the presence of a large number of organizations offering the associated solutions and services in this region, for example, Cisco Systems Inc., Netronome systems Inc., Marvell Semiconductor Inc., Juniper Networks Inc., Mellanox Technologies Ltd., and Pluribus Networks Inc. Moreover, due to the rising usage of digital platforms, companies are analyzing users' online activities to offer them better products.

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For almost the same reasons, APAC will become a key contributor to the market growth in the coming years. Due to its large population, the region is home to the highest number of people with mobile phones and internet connectivity. Further, driven by government efforts, the usage of online shopping, gaming, video and audio streaming, and news platforms is increasing, which is making it imperative for companies to see what users are searching for, so that better recommendations can be offered.

Therefore, the growing rate of digitalization globally will propel the demand for network telemetry solutions and services in the coming years.

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