PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1373925
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1373925
Network Analytics Market size was valued at USD 3,240.1 Million in 2022, expanding at a CAGR of 17.1% from 2023 to 2030.
Network analytics is the practice of collecting, processing, and analyzing data generated within computer networks to gain valuable insights into network performance, security, and optimization. It involves the examination of network traffic, device behavior, and communication patterns to identify issues, anomalies, and opportunities for improvement. Network analytics plays a crucial role in enhancing network efficiency, identifying and mitigating security threats, and making informed decisions to optimize network resources. By leveraging advanced technologies like machine learning and artificial intelligence, network analytics empowers organizations to proactively manage and protect their networks, ensuring they meet the demands of today's digital landscape.
Network Analytics Market- Market Dynamics
Growing adoption of machine learning (ML) and artificial intelligence (AI) for smarter network management is expected to propel the market demand
The global market for network analytics is experiencing a surge in demand driven by growing adoption of machine learning (ML) and artificial intelligence (AI) for smarter network management. Organizations are increasingly aligning their networks with intent-based strategies that closely align with their core objectives. This alignment is not only enhancing network efficiency but also boosting the demand for network analytics solutions. Another prominent driver is the escalating focus on network security analytics. As networks become more intricate and tightly integrated with technologies like the Internet of Things (IoT) and cloud computing, the need for advanced analytics to optimize, monitor, and troubleshoot these networks is on the rise. Ensuring the security of these complex networks has become a top priority for organizations worldwide. Additionally, the exponential growth in global IP traffic is propelling the demand for network analytics. Network communications have evolved into an indispensable component of modern business models for communication companies. To support this growth and prevent disruptions, there is a pressing need to enhance network reliability. This necessity is creating significant growth opportunities for the network analytics market.
The proliferation of the Internet of Things (IoT) and the advent of Industry 4.0 are contributing to the rapid expansion of connected devices. This, in turn, generates vast amounts of network data. Consequently, the adoption of network analytics is expected to rise as organizations seek effective ways to manage and extract valuable insights from this deluge of data. Moreover, cloud service providers are increasingly turning to network analytics to address challenges related to maintaining service level agreements (SLAs) and delivering top-tier quality service and quality of experience (QoE). This growing adoption of network analytics is also closely tied to the increasing significance of network security in organizations worldwide.
Network Analytics Market- Key Insights
As per the analysis shared by our research analyst, the global Network Analytics Market is estimated to grow annually at a CAGR of around 17.1% over the forecast period (2023-2030)
Network Analytics Market is projected to grow at a significant rate due to growing adoption of machine learning (ML) and artificial intelligence (AI) for smarter network management
Based on Deployment, On-cloud was predicted to show maximum market share in the year 2022
Based on End User, Communication Service Providers was the leading segment in 2022
On the basis of region, North America was the leading revenue generator in 2022
The Global Network Analytics Market is segmented on the basis of Type, Deployment, By End User, and Region.
The market is divided into two type categories based on Deployment: On-premise and on-cloud. In the network analytics market, the dominant deployment segment is on-cloud. Cloud-based deployment offers greater scalability, flexibility, and cost-effectiveness, aligning well with the evolving needs of modern network management. It allows organizations to easily scale their analytics capabilities up or down according to demand, reducing the need for extensive on-premises infrastructure. Additionally, cloud-based solutions offer the advantage of remote accessibility and rapid deployment, making them increasingly preferred over traditional on-premises alternatives. As a result, cloud deployment has emerged as the frontrunner, catering to the demands of businesses seeking agile and efficient network analytics solutions.
The market is divided into two categories based on End User: Cloud Service Providers, Communication Service Providers. The Communication Service Providers is leading the adoption of network analytics. The mobile industry, in particular, has witnessed remarkable growth and is poised for further expansion. Telecom operators aiming for innovation and maximizing revenue potential must deploy the right solutions at the right time and place to manage the substantial volume, diversity, and velocity of incoming data. This strategic utilization of data is pivotal for enhancing internal operations and consumer experiences, thus generating significant demand for network analytics in the market. The imminent rollout of the 5G network is expected to usher in a substantial surge in data traffic, especially as more individuals embrace smartphones. The indications for 5G, which emphasize the need for greater speed, efficiency, and reduced latency, are of paramount importance. These characteristics are crucial for accommodating the future proliferation of connected devices, ultimately fueling the overall growth trajectory of the network analytics market.
Network Analytics Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Companies operating in the network analytics market are implementing several strategic approaches to capitalize on the evolving landscape of network management and data analysis. One prominent strategy involves the development and deployment of advanced machine learning (ML) and artificial intelligence (AI) technologies. These technologies enable companies to enhance the accuracy and efficiency of network analytics, facilitating real-time insights and predictive capabilities for network optimization and security. Additionally, companies are increasingly investing in research and development to stay at the forefront of innovation in network analytics. This includes the exploration of new data sources, analytics techniques, and visualization tools to extract actionable insights from the ever-expanding volume of network data.
Overall, a combination of technological advancement, collaboration, research, and industry-specific customization forms the foundation of strategies adopted by companies in the network analytics market to meet the growing demands of modern network management and data analysis. In addition the market is witnessing a wave of strategic initiatives, including mergers, partnerships, and acquisitions. For example, in December 2022, Nokia expanded its partnership with BT through a five-year deal to provide its AVA Analytics software for fixed networks. This collaboration is aimed at enhancing network monitoring through machine learning (ML) and artificial intelligence (AI), showcasing the growing importance of advanced analytics in network management. Such strategic moves are expected to play a pivotal role in shaping the future of the network analytics market.
In October 2022, Oracle introduced a new suite of virtualized cloud infrastructure products known as the Network Analytics Suite. This innovative offering is poised to provide Communication Service Providers (CSPs) with enhanced insights into the performance and stability of their 5G data centers. The suite aggregates data from various sources within the 5G network, including network functions (NFs), application functions (AFs), and operations, administration, and maintenance that adhere to established standards (OAM).
In June 2022, IBM unveiled its intention to acquire Randori, a prominent player in the field of attack surface management (ASM) and offensive cybersecurity based in the Boston area. The announcement was made during RSAC 2022. Randori specializes in helping clients identify external assets visible to potential attackers, whether they reside on-premises or in cloud environments. The solution prioritizes the most critical assets, aiding organizations in fortifying their security posture.