Requirement for real-time network data analysis, adoption of advanced technologies, and surge in number of DDoS attacks drive the growth of the global network traffic analytics market
PORTLAND, Oregon, April 1, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Network Traffic Analytics Market by Component (Solutions and Services), Deployment Mode (On-premise and Cloud), Organization Size (Large Enterprises and Small & Medium Enterprises), and End User (Service Providers, Enterprises, and Data Center): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global network traffic analytics industry garnered $865 million in 2018, and is expected to generate $3.11 billion by 2026, growing at a CAGR of 17.4% from 2019 to 2026.
Drivers, restraints, and opportunities
Requirement for real-time network data analysis, adoption of advanced technologies, and surge in number of DDoS attacks drive the growth of the global network traffic analytics market. However, access to free network traffic analysis tools hinders the market growth. On the other hand, the emergence of 5G technology presents new opportunities in the industry.
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The solutions segment to continue its lead position during the forecast period
Based on component, the solutions segment accounted for more than three-fifths of the total share of the global network traffic analytics market in 2018, and is estimated to continue its lead position during the forecast period. This is attributed to surge in demand for solutions for discovering, analyzing, and processing security threats. However, the services segment would witness the fastest CAGR of 18.5% from 2019 to 2026, owing to increase in adoption of services among different industry verticals for effective functioning of platforms and software throughout the processes.
The on-premise segment to maintain its lion's share by 2026
Based on deployment type, the on-premise segment accounted for the highest market share of the global network traffic analytics market, contributing to more than two-thirds of the total share in 2018, and is projected to maintain its lion's share by 2026. This is attributed to preference for on-premise by large enterprises for deploying network traffic analytics platforms due to concerns toward data privacy. However, the cloud segment is would register the highest CAGR of 21.5% from 2019 to 2026. This is due to flexibility related to the cloud deployment that enhances its demand among numerous organizations.
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North America to maintain its dominance during the forecast period
Based on region, North America contributed to the highest share in terms of revenue in 2018, holding more than two-fifths of the global network traffic analytics market, and is expected to maintain its dominance during the forecast period. This is due to the presence of major players, surge in investment on cloud and security technologies, and rise in focus on automation. However, Asia-Pacific is expected to maintain the highest CAGR of 22.8% from 2019 to 2026, owing to usage advanced technologies including Internet of Things (IoT), connected devices, and cloud computing.
Leading market players
- Juniper Networks Inc.
- IBM Corporation
- Huawei Technologies Co. Ltd.
- Cisco Systems Inc.
- Allot Communication
- Ascom Holdings
- Nokia Networks
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