Network Probe Market worth $909 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2021 /PRNewswire/ -- According to a new market research report "Network Probe Market by Component (Solution and Services (Consulting, Training and Support, and Integration and Deployment)), Deployment Mode (On-premises and Cloud), End User (Service Providers and Enterprises), and Region - Global Forecast to 2026", published by MarketsandMarkets™, the Network Probe Market size is expected to grow from USD 509 million in 2021 to USD 909 million by 2026, at a Compound Annual Growth Rate (CAGR) 12.3% during the forecast period.
As organizations progress to cloud and adopt new technologies, the way they architect and set up network infrastructure must change. The role that networks play in business processes and business efficiencies is increasing every day, and with the positive correlation, the needs of dynamic businesses are increasing the size and complexity of networks. As enterprise networks get complex, network operation teams are forced to deploy multiple tools to obtain visibility and control to manage their networks. Network probe offers an integrated approach toward managing complex networks.
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Consulting services segment to grow at the highest CAGR during the forecast period
Among the services segment, Consulting services is expected to grow at the highest CAGR during the forecast period. Consulting services are essential during the initial phase of implementing network probe tools over network infrastructures. The consulting services in network probe offer a comprehensive approach to enhance the strength and performance of network infrastructures. Network management is critical to enterprises and service providers; therefore, deploying, designing, and maintaining a network that is robust and resilient is of utmost importance. The consulting services include strong and in-depth consulting expertise in network deployment, design, and management. The services also help in lowering risks, reducing complexities, and raising the Return on Investment (RoI), as they can be easily customized, applicable, and can deliver maximum product assurance.
Consulting services offered by service providers include providing onsite and offsite network project-related assistance for the integration of network devices, developing customized network management solutions, offering consultation for implementation, and designing network infrastructures. Most of the large enterprises require consulting services for planning proactive steps needed to rapidly change network environments.
Small and Medium Sized Enterprises segment is expected to grow at a higher CAGR during the forecast period
Organizations with less than 999 employees are considered under the SMEs segment. These organizations sruggle with a low network infrastructure budget, despite advancements in technologies. However, with the availability of low-cost cloud services, SMEs have shifted their focus on digital transformation to benefit from emerging technologies such as cloud, analytics, Internet of Things (IoT), and Software-Defined Networking (SDN). SMEs focus more on network management solutions to streamline their network infrastructures and enhance their business functions. They also face challenges related to network management due to increased complex network infrastructure, which is targeted by the growing network security attacks. SME businesses have gaps in their network security due to the lack of big budgets for network management. Due to the inadequacy of resources, the protection of customer data becomes an issue in SMEs. Targeted, malware, ransomware, phishing, distributed denial-of-service (DDoS), and denial-of-service (DoS) attacks have increased in SMEs. With advancements in network monitoring tools, network probe solution providers have started offering end-to-end network probe solutions, along with network security features, to leverage the capability of the flow-based technology, and monitor and analyze network traffic. Network probe protects SMEs from digital intruders and helps in network monitoring, and real-time network visibility and analysis to improve network performance, and provide network security and privacy.
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Asia Pacific (APAC) region to record the highest growing region in the Network Probe Market
The Network Probe Market is highly competitive in APAC due to the presence of various service providers, networking providers, telecom carriers, and technology service vendors. . It is expected to be the fastest-growing market in the global Network Probe Market, owing to the expansion of customer base for network monitoring software and emerging trend of network probe hybrid deployment. APAC is projected to witness enhanced growth opportunities during the forecast period. Countries in APAC are considerably contributing toward the growth of the market, owing to the rapid adoption of various network probe solutions by enterprises in the region.
The growing security attacks such as malware, virus, and DoS on enterprise networks are contributing to the market growth. This has led to the rapid adoption of network monitoring solutions by enterprise customers in the fast-growing countries, such as China, Japan, and Australia. Japan and China are technologically advanced countries in the region and undisputed leaders in the Network Probe Market. However, the growth of the APAC market is fragmented, and several local players have been making contributions to this market, thereby resulting in the highly competitive ecosystem of the APAC Network Probe Market.
Key and innovative vendors in Network Probe Market are SolarWinds (US), NETSCOUT (US), Broadcom (US), IBM (US), Cisco (US), Nokia (Finland), NEC (Japan), AppNeta (US), Catchpoint (US), and Accedian (Canada), Catchpoint (US), Accedian (Canada), Paessler (Germany), ManageEngine (US), Progress (US), Nagios (US), Dynatrace (US), HelpSystems (US), Riverbed (US), ExtraHop (US), Micro Focus (UK), Cubro (Austria), Plixer (US), Kentik (US), ObjectPlanet (Norway), Flowmon (Czech Republic), Qosmos (France).
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