Report Details
Not found what are you looking for
IT and Communication
Network Analytics Market Size, By Product Type (Solutions, Services), By Application (Large Enterprise, SMEs), By Regional Outlook, Competitive Landscape And Forecast, 2032
Description
ToC>
Companies
Speak with Analyst
Market Overview:
Network analytics is a versatile and indispensable tool that plays a crucial role in the modern interconnected world where large amounts of data flows across various wired and wireless networks. It involves use of data analysis and advanced techniques to gain insights into performance, security, and efficiency of computer networks.
The global network analytics market size was estimated to be USD 2.4 billion in 2022 and is expected to reach USD 15 billion by 2032 and register a CAGR of 19% during the forecast period. This growth is significantly due to factors such as rising data volumes and changing traffic patterns, increasing complexity and scalability of modern networks, and rising adoption of advanced technologies such as 5G and edge computing.
One of the crucial factors driving the adoption of advanced network analytics is increasing complexity of networks with usage of new technologies such as 5G, IoT, and edge computing. In addition, with the growth of digital services, streaming, and online applications, there is a continuous increase in data traffic. Network analytics helps service providers manage such traffic efficiently and ensure quality of service. It helps in detecting unusual or suspicious network behavior, crucial for identifying security threats such as malware, unauthorized access, or data breaches. Different network analytics tools and services can help identify areas where performance enhancements are required, enhancing customer satisfaction and productivity.
Network analytics is crucial for optimizing network performance, detecting anomalies and security threats, and making data-driven decisions about network management. Several companies are investing in network analytics services and solutions to improve security, troubleshoot general issues, predict traffic trends, fine-tune performance, and perform deep forensic investigations and audits. These tools are widely used across various sectors such as transportation and logistics, energy and utilities, manufacturing and supply chain, retail and e-commerce, healthcare, telecommunications and internet service providers, finance and banking, education, agriculture and government, and public services, among others.
However, implementing network analytics solutions, especially comprehensive ones can be costly, and collecting and analyzing network data may raise concerns about data privacy and cybersecurity. In addition, integrating network analytics tools with existing network infrastructure and management systems can be a complex process. To cater to these challenges, leading players in the network analytics market are investing heavily in R&D activities to develop novel and improved tools and solutions.
Key Takeaways:
Rising Cyber Threats to Augment Global Market Growth:
Rising cyber threats has become a significant concern in today’s digital world. Network analytics plays a vital role in detecting, mitigating, and responding to threats. These tools continuously monitor network traffic and detect unusual patterns or deviations. In addition, network analytics solutions and services use AI and ML to improve threat detection and accuracy. These improved security measures further augment this market’s revenue prospects in the years to come.
Lack of Budget Among Small Scale Companies is Expected to Hamper Market Growth:
Implementing network analytics solutions often requires significant investments in terms of hardware, software, and skilled personnel. Several small and medium-scale organizations face budget constraints that limit their ability to adopt advanced analytics solutions. In addition, to this, dearth of skilled technicians and higher possibility of false positive results through existing network analytics tools and solutions are other such factors can hamper overall market financial growth to a certain extent during the forecast period.
Market Opportunities:
The global network analytics market is expected to rapidly expand in the coming years owing to emerging trends such as, expansion of 5G networks, high demand for enhanced bandwidth, and adoption of edge computing are expected to open new avenues for existing leading players and new entrants in the market.
Report Coverage:
Report Details | Outcome |
Market Size in 2022 | USD 2.4 Billion |
Revenue CAGR | 19.00% |
Market Size in 2032 | USD 15.0 Billion |
Base Year for Estimation | 2022 |
Historical Data | 2018-2021 |
Forecast Period | 2023-2032 |
Segments Covered | Type, Application, and Regions |
Qualitative Info | •Value Chain Analysis •Pricing Analysis •Regional Outlook •Market Trends •Market Share Analysis •Competition Analysis •Technological Advancements |
Customization Scope | 10 Hours of Free Customization and Expert Consultation |
Type Outlook:
Based on types, this global market is segmented into solutions and services. Among these, the solutions segment is expected to register highest CAGR during the forecast period. Network analytics solutions are software and tools that help organizations monitor, analyze, and optimize their computer networks. These solutions provide insights into network performance and security allowing businesses to make informed decisions and ensure their networks operate efficiently. This can be attributed to rising network complexity, rapid advancements in network analytics solutions, and high adoption rate of network analytics solutions across various industries and organizations.
Application Outlook:
The application segment of global network analytics market is bifurcated into large enterprises and SMEs. The large enterprises segment is anticipated to account for largest revenue share between 2023 and 2032. Large enterprises typically have a complex and extensive network infrastructure due to its scale. Thus, these often rely on network analytics to optimize network performance, security, and efficiency. Large enterprises also have more resources in terms of IT personnel and budget to invest in advanced network and analytics solutions. Factors such as increasing need for advanced solutions to manage large databases, growing awareness about necessity of advanced network analytics, and rising investments in deploying advanced solutions are expected to ameliorate segment revenue growth during the forecast period.
Regional Outlook:
North America is expected to continue dominating this global market’s revenue share throughout the forecast period owing to factors such as rapid advancements in network analytics technology, rising need for advanced network analytics to manage large databases, high adoption of latest technologies by several organizations, rising network complexity, and increasing proliferation of Internet of Things. Moreover, rising awareness about potential cybersecurity threats, increasing investments in developing advanced network analytics solutions, and presence of leading companies are some crucial factors expected to boost growth of markets in North America during the forecast period.
Asia Pacific has experienced significant revenue growth in recent years and is anticipated to continue expanding during the forecast period. This can be due to several factors such as rising adoption of digital technologies, proliferation of mobile devices, rapid expansion of cloud services, and rising concerns about data security and privacy. In addition to this, a sudden shift towards hybrid and remote working models, rising demand for 5G network services, and increasing investments towards deployment of advanced network analytics among SMEs and large enterprises are slated to amplify revenue growth of markets in Asia Pacific during the forecast period. India, Japan, China, and South Korea are some of the largest revenue-generating countries in this region.
Competitive Landscape:
The global network analytics market is extremely competitive, comprising several regional and global level key players. These key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, scalability, and are adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Accenture
- Alcatel-Lucent
- Bradford Networks
- Cisco Systems
- IBM
- Sandvine
- SAS Institute
- Tibco Software
- Juniper Networks
- Brocade Communications Systems
- Oracle Communications
- Guavus
- Nokia
- Other key players
Network Analytics Industry Recent Developments:
- In June 2023, Accenture announced the acquisition of Nextira, an Amazon Web Services (AWS) premium partner to enhance Accenture’s cloud-native innovation and predictive analytics. Nextira offers cloud-based solutions and services with advanced technologies such as data analytics, machine learning, and artificial intelligence.
- In February 2023, Nokia launched analytics software for simplifying and strengthening data collection and insights for communication service providers.
- In February 2023, Oracle Communications announced the launch of a network analytics data director that helps operators integrate their 5G core into existing operational tools.
- In October 2022, Oracle announced the launch of its 5G cloud-native network analytics suite that combines network function data with AI and ML to help operators make better decisions around the performance and stability of the overall 5G network core.
- In June 2021, Guavus, a telecom analytics pioneer announced the launch of 5G core network analytics solutions for assisting operators to tackle 5G complexity and offer advanced 5G services.
The global Network Analytics market has been segmented based on type, application, and region:
Network Analytics Segment by Type:
- Solutions
- Services
Network Analytics Segment by Application:
- Large Enterprise
- SMEs
Network Analytics Segment by Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
FAQ
- You should buy this report from Xcellent Insights for a better clarity on market scenarios.
- The market report has been prepared using a pragmatic approach to suit your needs.
- We have an extensive library of reports that can help you understand the market landscape and make informed decisions about your business.
- Additionally, the reports are written by experienced analysts who have a deep understanding of the market and the latest trends.
- Besides, customization is a value-added service if you decide to opt.
Table Of Content
Table & Figures
- Accenture
- Alcatel-Lucent
- Bradford Networks
- Cisco Systems
- IBM
- Sandvine
- SAS Institute
- Tibco Software
- Juniper Networks
- Brocade Communications Systems
- Oracle Communications
- Guavus
- Nokia
- Other key players
Why Choose Us
- Extensive Library of Reports.
- Identify the clients' needs.
- Pragmatic Research Approach.
- Clarity on Market Scenarios.
- Tailor-Made Solutions.
- Expert Analysts Team.
- Competitive and Fair Prices.
Clientele
Thank you
Xcellent Insights has received your query!