The global Network Analytics Market is experiencing robust growth, with the market size estimated at US$ 23.6 billion in 2023.
During the forecast period, the global network analytics market is thriving at a Compound Annual Growth Rate (CAGR) of 19.5%. It has begun the forecast period in 2023 with a market valuation of US$ 2,948.0 million. It is anticipated to end the forecast period with a market value of US$ 17,555.5 million by 2033.
Several drivers contribute to this remarkable growth and success of the network analytics market. Increasing adoption of advanced networking technologies and the need for efficient network performance optimization are driving organizations to seek network analytics solutions. The growing complexity of network infrastructure, along with the rise in cybersecurity threats, fuels the demand for advanced analytics capabilities to detect and mitigate potential risks. Additionally, the exponential growth of digital applications and services requires robust network monitoring and proactive management, leading to the adoption of network analytics tools. Technological advancements, such as artificial intelligence and machine learning, are enhancing the capabilities of network analytics solutions, providing organizations with actionable insights and predictive analytics. Furthermore, the increasing focus on digital transformation and data-driven decision-making further accelerates the demand for network analytics solutions across various industries.
All these factors have combined to show that the North American region is the leading holder of market share as of 2022, and the on-premises segment will likely dominate the market with a CAGR of 19.2% in the forecast period from 2023 to 2033 based on deployment type.
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Key Takeaways:
Competitive Landscape:
Multiple competitor industries are directing their focus on market expansion to generate revenue and enhance their market position. Both manufacturing and various end-use companies are expected to experience growth in the network analytics market. Noteworthy participants in this market segment include Ericsson, Huawei, Cisco, Nokia, and Netscout, among others, as indicated by market surveys. These companies are projected to contribute significantly to the development of network analytics trends in the foreseeable future, spanning from 2023 to 2033.
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Key Segments
By Components:
By Application:
By Deployment:
By Organization Size:
By End-User:
By Region:
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Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Feb 01, 2024