The network analytics market report emphasizes the key factors driving the market and prominent players' developments.
The network analytics market has witnessed significant growth in recent years. Technological advancements and complexities, increases in data volume, and changes in traffic patterns are the major factors contributing to market growth. Additionally, the increasing awareness of data protection is expected to bring new network analytics market trends in the coming years.
Network analytics refers to the process of examining and interpreting data generated by network infrastructure and operations to derive actionable insights that drive informed business decisions and operational improvements. This practice involves leveraging advanced tools and techniques to collect, monitor, and analyze network data, with the goal of optimizing performance, enhancing security, and enabling efficient resource allocation.
In the context of modern enterprises, network analytics plays a pivotal role in enabling organizations to gain a comprehensive understanding of their network ecosystem. By scrutinizing data related to network traffic, device connectivity, application performance, and security incidents, businesses can identify patterns, anomalies, and trends that impact their operations. This, in turn, empowers them to proactively address potential issues, streamline network management, and bolster cybersecurity measures.
Network analytics provides valuable insights into user behavior, application usage, and overall network performance, facilitating strategic decision-making regarding technology investments, capacity planning, and infrastructure upgrades. By harnessing the power of network analytics, businesses can optimize their IT resources, enhance user experiences, and align their network strategies with broader organizational objectives.
In today's digital landscape, the proliferation of network devices and the exponential surge in data they generate have presented a pressing challenge for businesses. The escalating need to effectively manage this deluge of data has emerged as a pivotal driver influencing organizational strategies and IT investments. The influx of data from network devices, including IoT sensors, connected machinery, and employee devices, has reached unprecedented levels, necessitating robust management solutions. This surge in data is driven by the increasing interconnectedness of devices and the rising adoption of digital technologies across industries. As a result, businesses are grappling with the complexities of storing, processing, and deriving actionable insights from this vast volume of data.
To address this challenge, organizations are increasingly recognizing the significance of implementing advanced data management and analytics solutions tailored to the unique requirements of their network environments. By leveraging sophisticated tools and technologies, businesses can gain valuable insights into network performance, security threats, and user behaviors, thereby enabling informed decision-making and proactive network management. Furthermore, the ability to effectively manage the exponential surge in data generated by network devices is instrumental in enhancing operational efficiency, optimizing resource utilization, and bolstering cybersecurity measures. It enables organizations to extract meaningful intelligence from their data, driving innovation, improving customer experiences, and gaining a competitive edge in the marketplace. Thus, such applications are anticipated to propel the network analytics market growth during the forecast period.
The global network analytics market is segmented on the basis of component, deployment type, end user, and geography. Based on components, the market is segmented into solutions and services. Based on deployment type, the market is segmented into on-premise and cloud. By end user, the market is segmented into telecom providers, cloud providers, managed service providers, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Based on end user, the network analytics market analysis is segmented into telecom providers, cloud providers, managed service providers, and others. The telecom providers segment held the largest network analytics market share in 2022. Telecommunication companies handle vast volumes of data from network devices, customer interactions, and subscriber behavior. Network analytics solutions enable organizations to derive valuable insights from this data, optimizing customer services and overall experience. Moreover, the deployment of 5G networks requires sophisticated network analytics solutions to manage the surge in data volume, dynamic network connectivity, and the need for low latency. The increasing need for network analytics solutions to improve operational efficiency within the telecom sector is anticipated to fuel network analytics market expansion.
The North America network analytics market analysis includes countries such as the US, Canada, and Mexico. The US accounted for the largest network analytics market share in North America in 2022 for various reasons. Firstly, the rapid pace of technological advancements and digital transformation throughout the region is projected to stimulate the demand for network analytics. These solutions primarily enhance networks to accommodate advanced technologies and digital endeavors. Moreover, North American organizations prioritize data-informed decision-making, and network analytics solutions enable them to gain insights into network performance, security, and user behavior. Such factors have also contributed to the growth of the region's network analytics market.
In October 2022, Oracle introduced the Oracle Network Analytics Suite, a cloud-native portfolio of analytics solutions designed to integrate network function data with machine learning and artificial intelligence. This offering aims to empower operators to make more informed, automated decisions regarding the overall stability and performance of their entire 5G network core. Specifically, the suite enables operators to swiftly identify anomalies that could potentially lead to critical network function failures, ultimately impacting customer service. Thus, such initiatives are anticipated to propel the network analytics market growth.
The regional trends and factors influencing the Network Analytics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Network Analytics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3.10 Billion |
| Market Size by 2030 | US$ 12.89 Billion |
| Global CAGR (2022 - 2030) | 19.5% |
| Historical Data | 2020-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Network Analytics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Network Analytics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The network analytics market report emphasizes the key factors driving the market and prominent players' developments. IBM Corporation; Hewlett Packard Enterprise Development LP; Fortinet, Inc.; Huawei Technologies Co., Ltd.; Cisco Systems, Inc.; Broadcom, Inc.; Extreme Networks, Inc.; Juniper Networks, Inc.; Sandvine Corporation; Ciena Corporation; Allot Ltd.; and Nivid Technologies are among the prominent players profiled in the network analytics market report.
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by network analytics market players. A few recent key market developments are listed below:
The List of Companies - Network Analytics Market
The network analytics market is expected to reach US$ 12.89 Billion by 2030.
The network analytics market was estimated to be valued at US$ 3.10 billion in 2022 and is projected to reach US$ 12.89 billion by 2030; it is anticipated to grow at a CAGR of 19.5% over the forecast period.
Technological advancements and complexities, increase in data volume, and changes in traffic patterns are the major driving factors in the network analytics market.
The growing adoption of cloud-based network analytics solutions are expected to be a major future trend of the network analytics market in the coming years.
Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period.
The key players holding majority shares in the network analytics market include IBM Corporation, Fortinet, Inc, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd, and Cisco Systems, Inc. PLC.
The telecom providers segment led the network analytics market with a significant share in 2022.