Pune, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The global network analytics market size was estimated to be USD 2.4 billion in 2022 and is expected to register a CAGR of 19% during the forecast period. One of the key factors attributing to the overall market growth is increasing network complexity. The need for advanced network analytical tools has increased over the past years owing to factors such as, the network is steadily becoming intricate and diverse due to the adoption of technologies like IoT, cloud computing, and 5G. Other factors such as increasing data traffic, growing concerns about data privacy and cybersecurity, and high focus on improving the quality of service are expected to augment global market growth during the forecast period.
Network analytics plays a crucial role in today’s interconnected world where data flows through several networks like internet, corporate intranets, and industrial control systems. It is the process of using various data analysis and tools such as NetFlow, SNMP, packet capture, and other data analytics techniques to gain insights into behavior, performance, reliability, visibility, and security of computer networks such as Local Area Networks (LANs), Wide Area Networks (WANs), and the internet. This process involves collection and analysis of data from network devices, traffic patterns, and several other sources to understand and optimize network performance, enhance security, reduce downtime, and make informed decisions about network infrastructure upgrades.
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Network analytics aids organizations in optimizing their network infrastructure by identifying bottlenecks, security threats, and latency issues, monitoring network patterns, and enhancing network speed and reliability. Moreover, several companies are migrating their services to cloud, leading to hybrid and multi-cloud environments. This is a crucial factor leading to the adoption of advanced network analytics as network analytics help in optimizing network traffic between on-premises and cloud resources.
Network analytics solutions and services can benefit a wide range of individuals and organizations across various segments such as IT departments and network administrators, security teams, business leaders, service providers, healthcare providers, financial institutions, and education institutes. In addition, manufacturing and industrial sectors, retailer and e-commerce companies, and transportation sectors can seek to leverage network analytics solutions and services to improve network performance and make data-driven decisions to support business objectives.
Factors such as rising proliferation of IoT services, integration of machine learning and artificial intelligence in network analytics, and sudden shift towards remote and hybrid work models are projected to amplify the demand for network analytics in coming years. However, high initial investments and deployment costs, rising data privacy concerns, complex integration process with current technology, and lack of awareness about importance of network analytics are some key factors expected to hinder this global market’s growth during the forecast period. Leading companies in the global network analytics market are constantly striving to develop advanced, cost-effective network analytics to overcome these challenges.
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Report Coverage:
| Report Details | Outcome |
| Market Size in 2022 | USD 2.4 Billion |
| Revenue CAGR | 19% |
| 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 |
Competitive Landscape:
The global Network Analytics market is highly fragmented and comprises various key players operating at global and regional levels. These players are adopting various strategies such as mergers and acquisitions, agreements, partnerships, product launches, and joint ventures to retain their global position and enhance product base.
Some Key Players Listed in the Report Include:
- 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
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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 March 2023, Tibco Software announced the upgradation of its analytical suite offering better data management of analytics portfolio with cloud-ready and real-time applications.
- 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 overall 5G network core.
- In October 2021, Ericsson launched the Network Data Analytics Function (NWDAF) for its cloud-native 5 core.
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The global Network Analytics Market is segmented on the basis of 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
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
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