Network Analytics Market Anticipated to Garner USD 4.2 Billion at a CAGR of 16.3% by 2030 - Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Growing Adoption of Cloud Platform to Boost Network Analytics Market Growth Globally
New York, US, June 09, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR),” Network Analytics Market, By Solution & Services, By Deployment, By Organization Size, By End-User - Forecast 2030” will touch USD 4.2 billion at a 16.3% CAGR by 2030.
Network Analytics Market Overview
Increased use of cloud platforms & cloud-based computing technologies, as well as increased awareness of the wide range of applications for cloud platforms across various industrial sectors, are likely to boost demand for network analytics, resulting in market development.
Report Scope:
Report Metrics
Details
Market Size
USD 4.2 Billion (2030)
CAGR
16.3% (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2018
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Solution & Services, Professional Services
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors
Accenture PLC (Ireland), Juniper Networks (U.S.), Alcatel-Lucent S.A. (France), IBM Corporation (U.S.), Brocade Communications Systems, Inc. (U.S.), Cisco Systems, Inc. (U.S.), HP (U.S.), Bradford Networks, Inc. (U.S.), Ascom Holdings AG (Switzerland), Allot Communication (Israel), Sandvine Inc. (Canada), Tibco Software (U.S.)
Key Market Opportunities
The key market players and governments are increasing the value of investments in the field of analytics, thus helping the companies to conduct extended research and development opportunities relating to real-time data for purpose of tracking, and monitoring.
Key Market Drivers
The network analytics business plays a vital role in the provision of data and network-related solutions like intelligence and management of professional services.
The network analytics operations provide the user with an ability for better planning and management of the network capacity.
Extensive Applications in Telecom Industry to offer Robust Opportunities
The extensive use of network analytic solutions in the telecom industry for the large-scaled analytical models will offer robust opportunities for the network analytics market in the forecast period.
Restraints
Lack of Network Professional to act as Market Restraint
The lack of network professional that have proficiency in network analytics may act as a market restraint over the forecast period.
Challenges
Growing Concerns about Network Discrepancy to act as Market Challenge
The growing concerns about network discrepancy may act as a market challenge over the forecast period.
Browse In-depth Market Research Report (100 Pages) on Network Analytics Market:
The global network analytics market is bifurcated based on end-user, organization size, deployment, and solution & services.
By solution & services, professional services will lead the market over the forecast period.
By deployment, on-premise will dominate the market over the forecast period.
By organization size, SME business will spearhead the market over the forecast period.
By end user, cloud service provider will have the lions share in the market over the forecast period.
Network Analytics Market Key Players
Eminent market players profiled in the global network analytics market report include,
Accenture PLC (Ireland)
Juniper Networks (U.S.)
Alcatel-Lucent S.A. (France)
IBM Corporation (U.S.)
Brocade Communications Systems Inc. (U.S.)
Cisco Systems Inc. (U.S.)
HP (U.S.)
Bradford Networks Inc. (U.S.)
Ascom Holdings AG (Switzerland)
Allot Communication (Israel)
Sandvine Inc. (Canada)
Tibco Software (U.S.).
Network Analytics Market COVID-19 Analysis
Many productions and manufacturing units were made to hand over the working & production levels to the COVID 19 pandemic as the global pandemic expanded. With the enforcement of lockdown and big firms transitioning to work-from-home, there is a growing demand for network analytics services from various remote locations. Digital transformation, as well as remote services and data location services, are in high demand. The target audience needs data to track and monitor the impact of COVID 19 on individuals and economies. Furthermore, significant industry players and governments are enhancing the worth of investments in analytics, allowing businesses to pursue expanded research and development prospects including real-time data for tracking and monitoring.
North America to Spearhead Network Analytics Market
By the completion of the projection year, 2022, North America is predicted to have the greatest market share. The key reason for this is because these methods have been widely adopted and implemented. Furthermore, the government in the region is investing in scalable infrastructure, resulting in increased technology use on a global scale. During the projection period, the region is expected to have the largest market. Because of the large-scale implementation of the network analytics tools via organizations and enterprises in the US, it has emerged as the largest market for network analytics. The fast expansion of the network analytics market in the US can be ascribed to the fast speed of infrastructure development in the US, as well as the higher growth of Artificial Intelligence (AI), Internet of Things (IoT), Machine Learning (ML), & cloud computing. Because of the region's quick adoption of developing technology, North America is the world's most technologically sophisticated region. Furthermore, the United States and Canada are major contributors to technical advancement in this region. For example, US companies are substantially investing in network analytics to increase network efficiency and create better customer experiences by gathering insights from network traffic.
Nearly 60% of network analytics vendors have their headquarters in the North American region. Cloud operators and CSPs have made large investments in network intelligence, giving the area a significant part of the market. North America will continue in leading the market due to rising demand for high-speed networks, fierce competition among key networking industry players to offer better customer experiences, and higher cloud computing adoption rates than other regions. Due to the quick use of network analytics by the region's main firms, the region is likely to hold the greatest market share, although with a moderate growth rate. The accessibility of technology & infrastructure, as well as greater cyber-malware attacks on regional networks and a higher technology adoption rate, are all projected to contribute to the region's market growth. Furthermore, the region is a hub to some of the world's largest telecom corporations, like AT&T & Verizon, which use network analytics extensively. Furthermore, several cloud-based analytics businesses focusing on network analytics is increasing in the region, particularly in the United States. This should help the region maintain its dominance in the future years.
APAC to Have Admirable Growth in Network Analytics Market
The Asian-Pacific area is also predicted to increase at a healthy rate. This is due to reasons such as increasing smartphone penetration and large-scale infrastructure investments by both cloud and managed service providers. Due to the growing number of cloud-based organizations in Asia Pacific, the network analytics market is likely to generate considerable revenue growth potential. Furthermore, in Asia Pacific countries like India, Japan, & China, an increase in the number of telecom organizations, urbanization, and digitization are likely to boost the expansion of network analytics. Because of the surge in smartphone penetration and large-scale infrastructure investment in the region, Asia-Pacific is predicted to expand the most in the forecast period 2022 to 2029.
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