Network traffic analytics market size worth $5.69 billion by 2028: Grand View Research, Inc.
SAN FRANCISCO, August 26, 2021 /PRNewswire/ — The World network traffic analysis market size is provided to reach $5.69 billion by 2028, expanding at a CAGR of 9.7% from 2021 to 2028, according to a new study by Grand View Research, Inc. Network Traffic Analysis (NTA) includes general network operations and management; recording, reviewing, and analyzing network traffic for performance and security; and identify anomalies. Growing internet penetration, shifting consumer preference towards online platforms, continued adoption of the BYOD (Bring Your Own Device) trend and the resulting rise in cybercrime have triggered the need to effectively manage network traffic and complexity, thus driving the demand for advanced network management systems.
Key information and conclusions:
- Software segment led the market in 2020 with over 60% revenue share as enterprises continued to adopt various network traffic analysis software to manage network traffic.
- The cloud segment is expected to grow over the forecast period owing to the benefits, such as cost reduction, agility, and convenience in accessing data, provided by cloud-based deployment and continued adoption work from home policy (WFH) by organizations
- The small and medium business segment is expected to grow at the highest CAGR from 2021 to 2028 owing to the growing awareness of network traffic analysis and its benefits among small and medium businesses.
- North America dominated the market in 2020 owing to the early and aggressive adoption of latest and advanced technologies, such as IoT and cloud computing, which has driven the demand for network traffic analytics solutions in the regional market
Read the 140-page market research report, “Network Traffic Analytics Market Size, Share & Trend Analysis Report by Component (Software, Service), by Deployment (On-Premise, Cloud), by Organization, by Vertical, by Region and Forecast segment, 2021-2028“, by Grand View Research
Cloud-based deployment is expected to gain traction during the forecast period as most organizations aggressively adopt home and remote working practices following the outbreak of the COVID -19 pandemic . Cloud-based deployment provides adequate agility as organizational data can be stored in the cloud and accessed in real time regardless of location for further analysis. However, cloud-based deployments also increase the volumes of data exchanged over data networks, which requires robust network traffic analysis solutions.
North America accounted for the largest share of global market revenue in 2020. The United States and Canadawhich are considered the most developed economies in the North America continent, are also known for their aggressive adoption of the latest and advanced technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI) and cloud computing. A strong and well-developed IT infrastructure deployed in the region bodes well for aggressive adoption of network traffic analysis solutions.
Grand View Research has segmented the global network traffic analytics market on the basis of component, deployment, organization, vertical, and region:
- Network Traffic Analytics Component Outlook (Revenue, USD Million, 2018 – 2028)
- Network Traffic Analytics Deployment Outlook (Revenue, USD Million, 2018 – 2028)
- Network Traffic Analytics Organization Outlook (Revenue, USD Million, 2018 – 2028)
- Small and medium enterprises
- Large companies
- Network Traffic Analytics Vertical Outlook (Revenue, USD Million, 2018 – 2028)
- Health care
- Network Traffic Analysis Regional Outlook (Revenue, USD Million, 2018 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
List of Network Traffic Analytics Market Key Players
- Awake Security Inc.
- Broadcom Corporation
- Cloud Flare, Inc.
- Core security technologies
- NEC Corporation
- NETSCOUT Systems, Inc.
- Netreo Embedded
- solar winds
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About Grand View Research:
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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SOURCEGrand View Research, Inc.