PUBLISHER: The Business Research Company | PRODUCT CODE: 1499891
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499891
Network analytics involves the process of gathering, monitoring, analyzing, and interpreting data pertaining to network traffic patterns, performance metrics, and security incidents. It utilizes a variety of tools and methodologies to gain insights into the behavior of networks, including routers, switches, servers, and other network devices.
The primary components of network analytics consist of network intelligence solutions and services. Network Intelligence Solutions encompass a range of technologies and tools aimed at monitoring, analyzing, and optimizing network performance, security, and traffic. These solutions can be deployed in various modes such as cloud-based or on-premises, catering to both large enterprises and small to medium-sized businesses. Applications of network analytics include customer analysis, risk management, fault detection, network performance management, quality management, among others, serving cloud service providers, managed service providers, telecom providers, and other end-users.
The network analytics market research report is one of a series of new reports from The Business Research Company that provides network analytics market statistics, including network analytics industry global market size, regional shares, competitors with network analytics market share, detailed network analytics market segments, market trends, and opportunities, and any further data you may need to thrive in the network analytics industry. This network analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The network analytics market size has grown exponentially in recent years. It will grow from $3.64 billion in 2023 to $4.49 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth observed in the historic period can be attributed to factors such as increasing network complexity, escalating concerns regarding cybersecurity, the demand for operational efficiency, and regulatory compliance requirements.
The network analytics market size is expected to see exponential growth in the next few years. It will grow to $10.49 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The anticipated growth in the forecast period can be attributed to the adoption of AI and machine learning technologies, the expansion of edge computing capabilities, the growth of SD-WAN and increased cloud adoption, and the rising demand for predictive insights. Significant trends expected in the forecast period include the adoption of artificial intelligence and machine learning across network operations, a shift towards cloud-native solutions, an increased focus on security analytics, the convergence of network and application architectures, and the evolution of 5G networks.
The network analytics market is poised for growth driven by the increasing sophistication of cyber threats. Cyber threats encompass malicious activities or attacks targeting computer systems, networks, or digital devices with the intent to disrupt operations, steal sensitive information, or cause harm. This escalation in cyber threats is attributed to technological advancements, expanded connectivity, and the heightened sophistication of cybercriminals. Network analytics plays a pivotal role in mitigating these threats by offering real-time monitoring, detection, and analysis of network traffic patterns. For example, data from the Australian Cyber Security Centre in November 2022 indicated approximately 76,000 reports of cyberattacks in 2022, marking a 13% increase from the previous year. Consequently, the growing sophistication of cyber threats is propelling the expansion of the network analytics market.
Key players in the network analytics market are concentrating on developing innovative products, including network analytics tools, to bolster network performance, security, and efficiency. Network analytics tools are software solutions crafted to monitor, analyze, and optimize network performance, security, and traffic. For instance, in October 2021, LM Ericsson, a Sweden-based telecommunications company, introduced a network analytics tool aimed at enhancing transport network performance. This tool provides real-time visibility, data analysis, and intelligent automation for both consumer and enterprise use cases. Combining analytics and automation capabilities, it offers AI-driven intelligence and scalability from small to large networks while emphasizing standardization and openness for seamless integration with third-party components.
In June 2021, Mobileum Inc., a US-based software company, acquired Niometrics Pte Ltd. to augment its active intelligence platform with enhanced customer discovery, engagement, and experience capabilities. This acquisition enables Mobileum to leverage Niometrics' deep network analytics platform, which employs machine learning to deliver deeper customer insights and improved data privacy control. Niometrics Pte Ltd., headquartered in Singapore, specializes in developing network analytics platforms to assist network owners.
Major companies operating in the network analytics market are Dell Technologies, Huawei, Accenture PLC, IBM Corporation, Cisco Systems Inc., Broadcom, Hewlett Packard Enterprise Company, Actix, Ericsson Inc., Nokia Corporation, VMware Inc., Juniper Networks, Fortinet, Arista Networks, Akamai Technologies, Citrix Systems Inc., SAS Institute Inc., F5 Networks, Alcatel-Lucent Enterprise SA, Riverbed Technology, Extreme Networks, Tibco Software Inc., Netscout, Sandvine Corporation, Allot Communication, Nivid Technologies, Bradford Networks Inc.
North America was the largest region in the network analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the network analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The network analytics market consist revenues earned by entities by providing services such as traffic monitoring, performance management, security analysis, and root cause analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The network analytics market also includes of sales of network monitoring tools, packet capture and analysis tools, flow-based analysis solutions, and network traffic analysis (NTA) platforms. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Network Analytics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on network analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for network analytics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The network analytics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.