Network Telemetry Market Generated $200 Million Revenue in 2020 Says P&S Intelligence
NEW YORK, July 12, 2021 /PRNewswire/ -- Due to the rising prevalence of security breaches and network attacks, rapid digitization in various industries, and mushrooming network traffic volume, the demand for the optimization of the network infrastructure is rising sharply. This is, in turn, propelling the expansion of the global network telemetry market. Furthermore, the rising adoption of network telemetry solutions by various enterprises such as Telefonica S.A. and the rapid advancements being made in related technologies such as artificial intelligence (AI) and the internet of things (IoT) are also generating a huge demand for network telemetry services and solutions. Due to these factors, the global network telemetry market value rose to $200 million in 2020, and it is predicted to grow even more during 2021–2030, according to the market research firm P&S Intelligence.
Due to the imposition of lockdowns by the governments of several countries to mitigate the spread of the COVID-19 virus, the demand for network telemetry services and solutions is shooting up, as network telemetry is associated with networking and many businesses are working from home because of the pandemic.
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The network telemetry market is categorized into cloud service providers, telecom service providers, and managed service providers, based on end user. Out of these, the telecom service providers category dominated the market in 2020, and this category is also expected to exhibit rapid expansion during the forecast period. This is credited to the rapid adoption of network telemetry solutions by various telecom service providing companies such as Telefonica UK Limited to optimize and manage their network infrastructure.
The network telemetry market is also divided into services and solutions category, depending on component. Between these, the service category will demonstrate faster growth during he forecast period. This is ascribed to the skyrocketing demand for training, consultation, and maintenance services, on account of the rapid advancements being made in technologies such as AI, burgeoning requirement for optimized network infrastructure, and ballooning adoption of network telemetry solutions by businesses.
Browse detailed report with COVID-19 impact analysis on Network Telemetry Market Research Report: By Component (Solutions, Services), Organization Size (Large Enterprises, SMEs), Deployment Mode (Cloud, On-Premise), End User (Telecom Service Providers, Cloud Service Providers, Managed Service Providers) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/network-telemetry-market-insights
North America held the largest share in the network telemetry market during the historical period (2015–2020), and it will exhibit huge expansion throughout the forecast period as well. This is attributed to the existence of several industry players in the region such as Arista Networks Inc., Pluribus Networks Inc., and Juniper Networks Inc. Furthermore, the increasing competition between industries and the rapid adoption of advanced technologies such as IoT and AI are also fueling the growth of the market in the region.
The players in the network telemetry market are increasingly getting into partnerships to bolster their position in the industry. For example,
In February 2021, Forescout Technologies Inc., which is a provider of enterprise of things security solutions, launched a partnership with Arista Networks Inc. to provide more-effective and faster zero-trust defense for organizations. Forescout incorporated its eyeSegment solution with Arista CloudVision, which is the core management platform of the new multi-domain Macro-Segmentation Service Group (MSS Group) solution architecture of Arista.
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In October 2019, Juniper Networks Inc. and Telefonica UK Limited entered into a partnership with each other, with the former becoming the latter's strategic network internet protocol (IP) partner. With the help of this partnership, Juniper Networks Inc. aims to develop a secure and automated cloud-enabled network infrastructure called Fusion Network.
Cisco Systems Inc., Arista Networks Inc., Juniper Networks Inc., Mellanox Technologies Ltd., Barefoot Networks Inc., Pluribus Networks Inc., Solarflare Communications Inc., Marvell Semiconductor Inc., Netronome Systems Inc., and VOLANSYS Technologies Pvt. Ltd. are some of the major global network telemetry market players.
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