The network analytics market size was valued at USD 1803.52 million in 2020 and is expected to expand at a significant CAGR during the forecast period 2021–2028. The growth of the market is attributed to major investment in infrastructure by managed service providers, cloud service providers, and increase in the number of smartphone penetration.
Network analytics means identifying pattern and trend in network data and using analytical techniques to find out solutions for sever problems in the network. Data is collected and inspected to improve security, visibility, reliability, and performance of the network. The data collected by network analysis are used for different task such as identify connected end point, to evaluate health of device, and issue remediation.
The Covid-19 pandemic affected the demand and supply of network analytics market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period. Several firms are changing their work from office to work from home therefore, there is rising need for network analytics solution, increase in demand are seen in market for remote service, data location service, and digital transformation.
Market Trends, Drivers, Restraints, and Opportunities
- Increase in SDN integration with current network infrastructure is projected to boost the market in the coming years.
- The network analytics corporation plays an important role in the providing data and network-related solutions like management and intelligence of service.
- High price and high maintenances cost are anticipated to restrict market growth.
- Lack of awareness about network analytics act as a main challenge that can hamper the market expansion in the coming years.
- High deployment cost makes difficult for each and every corporation to invest, which in turn hinders the market growth.
Scope of the Report
The report on the network analytics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Network Analytics Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Deployments (On-cloud and On-premise) and Types (Network intelligence solutions and Services)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players covered in the Report
IBM Corporation, Cisco Systems Inc., Accenture PLC., Hitachi Data Systems, Juniper Networks, Inc., Brocade Communication systems Inc., Alcatel-Lucent SA, Tibco Software Inc., Sandvine Incorporated, SAS Institute Inc., and Hewlett Packard Enterprise Development LP
Market Segment Insights
The services segment accounts for key share in the market and is expected to grow at a rapid pace
Based on types, the network analytics market is bifurcated into services and network intelligence solutions. The services segment accounts for a key share of the market. The growth of the market attributed to better management and planning analytics, latest development in data volume, and traffic pattern. However, the network intelligence solutions segment is anticipated to expand at a rapid pace during the forecast period due to government investment in analytics market and developing latest network analytics infrastructure.
The on-premise segment is anticipated to hold major market share
Based on deployments, network analytics market is categorized into on-cloud and on-premise. The on-premise segment is anticipated to dominate the market due to latest technology development as well as arrival such as IOT, Cloud, 5G, and increase in SDN combination with present analytics infrastructure. The system installed on the site of the organization as well as individual instead of distant space can be termed as the on-premises deployment of solutions. On the basis of annual service agreement, one time license fee on-premise solutions are provided. On-premise deployment requires high end IT and networking infrastructure.
The market in North America is estimated to hold major market share
On the basis of regions, the network analytics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is anticipated to expand at a high CAGR during the forecast period. The regional market growth can be attributed to implementation and adoption of new solution on large scale, the government of North America is investing in market for adaptive infrastructure. The market in Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to major drivers such as major investment in infrastructure by managed service providers, cloud service providers on large scale, and major increase in the number of smartphone penetration.
Segments Covered in the Report
Network analytics market has been segmented on the basis of
- Network intelligence solutions
- Professional services
- Managed services
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- IBM Corporation
- Cisco Systems Inc.
- Accenture PLC.
- Hitachi Data Systems
- Juniper Networks, Inc.
- Brocade Communication systems Inc.
- Alcatel-Lucent SA
- Tibco Software Inc.
- Sandvine Incorporated
- SAS Institute Inc.
- Hewlett Packard Enterprise Development LP
Key players competing in the network analytics market include IBM Corporation, Cisco Systems Inc., Accenture PLC., Hitachi Data Systems, Juniper Networks, Inc., Brocade Communication systems Inc., Alcatel-Lucent SA, Tibco Software Inc., Sandvine Incorporated, SAS Institute Inc., and Hewlett Packard Enterprise Development LP.
Some of these players are using several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.