Network Analytics Industry
Increasing adoption of network analytics by cloud service providers facing challenges in maintaining service level agreements (SLAs) boost market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, June 24, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” Why Invest in Network Analytics Market Reach USD 17 Billion by 2032, Growing with 19.7% CAGR.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global network analytics market was valued at USD 2.9 billion in 2022, and is projected to reach USD 17 billion by 2032, growing at a CAGR of 19.7% from 2023 to 2032.
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The network analytics market is expected to witness notable growth owing to rise in network complexities, surge in network optimization, and increase in adoption of cloud-based network analytics solutions. Moreover, an increase in regulatory compliance and data privacy requirements is expected to provide a lucrative opportunity for the growth of the market during the forecast period. However, security and privacy concerns limit the growth of the network analytics market.
The network analytics market is segmented based on component, deployment mode, enterprise size, application, end user, and region. Based on component, the market is categorized into network intelligence solutions and services. By deployment mode, it is categorized into on-premise and cloud. Based on enterprise size, the market is categorized into large and small and medium-sized enterprises. In terms of application, the market is classified into customer analysis, risk management and fault detection, network performance management, quality management, and others. Based on end user, the market is categorized into cloud service providers, managed service providers, telecom providers, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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By enterprise size, the large enterprise segment accounted for more than two-thirds of the global network analytics market share in 2022, and is expected to dominate the market by 2032, owing to cloud-native network analytics solutions to achieve greater agility, scalability, and cost-effectiveness in managing their intricate network infrastructures. However, the small and medium-sized enterprise segment would also display the fastest CAGR of 21.8% throughout the forecast period, owing to robust security analytics within network analytics services, helping SMEs defend against evolving cyber threats. The ongoing evolution of IoT and edge computing also influences network analytics trends for SMEs, offering opportunities for efficient management of these technologies within their network environments.
By end user, the telecom providers segment accounted for nearly two-fifths of the global network analytics market share in 2022, and is expected to dominate the market by 2032, owing to integration of edge computing into telecom infrastructure for faster insights and reduced latency. Moreover, artificial intelligence and automation are increasingly employed to enhance network management efficiency, automate issue resolution, and predict potential problems. However, the cloud service providers segment would also display the fastest CAGR of 22.7% throughout the forecast period, owing to increasing focus on hybrid and multi-cloud solutions, allowing businesses to seamlessly integrate and manage workloads across multiple cloud platforms for flexibility and optimization.
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By region, North America garnered the highest share in 2022, holding more than one-third of the global network analytics market revenue in 2022, and is projected to retain its dominance by 2032, owing to increase in prevalence of cyber threats has made network security analytics. In addition, the deployment of 5G networks is driving the adoption of network analytics for optimizing performance, managing traffic, and ensuring seamless connectivity. The Asia-Pacific region is projected to portray the fastest CAGR of 23.5% during the forecast period, owing to the deployment and optimization of 5G networks, drives the adoption of analytics tools to enhance performance and support new applications. The region is witnessing a surge in cloud-native solutions, providing scalability and flexibility for evolving digital infrastructures.
The key players profiled in the network analytics industry analysis are Cisco Systems, Inc., Broadcom, IBM Corporation, Hewlett Packard Enterprise Development LP, Accenture, Huawei Technologies Co., Ltd., SAS Institute Inc, Telefonaktiebolaget LM Ericsson, Juniper Networks, Inc., and Ciena Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the network analytics industry.
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Key Findings of the Study
● By component, the network intelligence solution segment led the network analytics market in terms of revenue in 2022.
● By deployment mode, the cloud segment is anticipated to have fastest growth rate for network analytics market.
● By application, the network performance management segment led the network analytics market in terms of revenue in 2022.
● By enterprise size, the small and medium-sized enterprise is anticipated to have the fastest growth rate for the network analytics market.
● By end user, the telecom providers segment led the network analytics market forecast in terms of revenue in 2022.
● By region, North America generated the highest revenue for network analytics market analysis in 2022.
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