Exploring Insights, Size & Forecast for the Network Traffic Analytics Market 2024-2033

The Business Research Company recently released a comprehensive report on the Global Network Traffic Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The network traffic analytics market size has grown rapidly in recent years. It will grow from $2.92 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to rise in cyber threats and security breaches, rise in remote work and telecommuting, demand for network forensics capabilities, rise in distributed denial-of-service (DDoS) attacks, demand for network traffic data retention and analysis.

The network traffic analytics market size is expected to see rapid growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to increased adoption of cloud-based solutions, need for network performance optimization, increased focus on user behavior analytics (UBA), growing demand for real-time monitoring, demand for predictive analytics capabilities. Major trends in the forecast period include expansion of IoT devices and networks, expansion of network segmentation strategies, expansion of hybrid cloud environments, migration to software-defined networking (SDN), integration of network traffic analytics with endpoint security solutions.

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Market Drivers and Trends:

The rise in cyber threats and security breaches is expected to propel the growth of the network traffic analytics market going forward. Cyber threats refer to malicious activities targeting digital systems, while security breaches involve unauthorized access or compromise of sensitive information, posing risks to individuals, organizations, or governments. Cyber threats and security breaches increase due to the growing reliance on digital technologies, expanding attack surfaces, evolving tactics of cybercriminals, and inadequate cybersecurity measures. Network traffic analytics is essential in cybersecurity as it offers real-time insights into network behavior, detects anomalies, and identifies potential security threats. These tools help organizations improve their cybersecurity defenses by providing early threat detection, incident response capabilities, attack attribution evidence, and insights into weaknesses inside the network infrastructure. For instance, in January 2024, according to a report published by the Identity Theft Resource Center (ITRC), a US-based non-profit organization, the number of data compromises in 2023 reached the figure of 3,205, increased by 78% compared to 2022 (1,801), and was 1,345 more than the previous high in 2021. Therefore, the rise in cyber threats and security breaches is driving the growth of the network traffic analytics market.

Major companies operating in the network traffic analytics market are focusing on developing technologically advanced solutions, such as network detection and response platforms (NDR), to gain a competitive edge in the market. A network detection and response platform is a cybersecurity solution that continuously monitors network traffic to identify cyber threats and anomalous behaviors across an organization's network. NDR solutions analyze raw network traffic logs to properly identify risks, providing early detection to prevent attacks before they cause major damage. For instance, in January 2022, LiveAction, a US-based provider of IT network performance management, visualization, and analytics software, launched ThreatEye NV, a network detection and response platform that delivers complete encrypted traffic analysis and visibility. This solution combines next-generation data gathering, advanced behavior analysis, and streaming machine learning to provide SecOps teams with unparalleled visibility into encrypted traffic, threats, and network anomalies. The platform uses Deep Packet Dynamics (DPD), which eliminates the need for payload inspection, to evaluate over 150 packet attributes and behaviors across multi-vendor, multi-domain, and multi-cloud network environments.

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Major Key Players of the Market:

Microsoft Corporation, Dell Inc., Huawei Technologies Co. Ltd., International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Nokia Corporation, Palo Alto Networks Inc., Juniper Networks Inc., Arista Networks Inc., Splunk Inc., Check Point Software Technologies Ltd., McAfee Corp., Trend Micro Incorporated, NEC Corporation, NetScout Systems Inc., FireEye Inc., SolarWinds Corporation, Rapid7 Inc., Qualys Inc., Darktrace, Allot Ltd., Ascom Timeplex, ExtraHop Networks Inc.

Network Traffic Analytics Market 2024 Key Insights:

• The network traffic analytics market size is expected to grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%.
• Surging Cyber Threats And Security Breaches Fueling Growth In The Network Traffic Analytics Market
• Network Detection And Response Platforms (NDR) Advancing Threat Detection And Response
• North America was the largest region in the network traffic analytics market in 2023

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