Network Analytics Market to Reach USD 3167.6 Million by 2028 at a CAGR of 16.4% | Valuates Reports
BANGALORE, India, March 28, 2022 /PRNewswire/ -- The Network Analytics Market is Segmented by Type (Solutions, Services), by Application (Large Enterprise, SMEs): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Web Services Category.
The global Network Analytics market size is projected to reach USD 3167.6 Million by 2028, from USD 1061.3 Million in 2021, at a CAGR of 16.4% during 2022-2028.
The major factor driving the growth of the Network Analytics market are:
The network analytics market will be driven by the need to address the growing challenges of effectively maintaining higher QoS and QoE.
Addressing network complexity arising from the introduction of new technologies such as 5G, IoT, and cloud; increase in data volume and changes in traffic patterns; and rise in SDN integration with existing network infrastructures are all expected to drive the network analytics market forward..
Furthermore, the global Network Analytics Market is expected to grow at a rapid pace over the forecast period, owing to rising prevention demands from a variety of cyber-attacks on networks.
TRENDS INFLUENCING THE GROWTH OF THE GLOBAL NETWORK ANALYTICS MARKET
As network communications become an essential component of multiple business models for today's communication companies, global IP traffic is expected to grow exponentially in the coming years. As a result, network reliability must be improved and disruptions must be avoided. The adoption rate of network analytics is expected to increase as cloud service providers (who face challenges in maintaining service level agreement (SLA) standards and coping with top-class quality service and quality of experience (QoE) parameters) adopt the technology. This factor is in turn expected to drive the growth Network Analytics market.
Furthermore, network analytics intelligence can be used for a variety of tasks, including identifying bottlenecks, evaluating device health, issue remediation, identifying connected endpoints, and probing for potential security lapses. Network analytics compares incoming data to preprogrammed models and makes appropriate decisions to improve operations. The data is fed into a network performance model that is ideal. The analytics engine recommends adjustments to improve performance when a data source detects less-than-ideal performance. These benefits are expected to increase adoption, even more, propelling the network analytics market forward.
Bring your own device (BYOD) adoption is on the rise, which could lead to unethical behavior and the misuse of business-critical data. To address this, businesses are increasingly turning to network analytics solutions to diagnose network issues and provide users with secure access to confidential data. This, in turn, is expected to propel the network analytics market forward.
The need to prevent cyber attacks is expected to propel the network analytics market forward. Network analytics monitors endpoint behavior and traffic (even encrypted) for anomalies that could indicate that the endpoint has been compromised, such as by malware. For identified network issues, network analytics may recommend corrective actions. Guided remediation, in which the engine specifies steps for a network admnistrator to follow, or closed-loop remediation, in which the engine sends instructions to the automation portion of the network controller to make changes automatically, are two examples of these actions.
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NETWORK ANALYTICS MARKET SHARE
Based on type, the service segment is expected to be the most lucrative. Professional services provide a comprehensive set of detailed procedures and insights for improving business aspects and ensuring the company's long-term viability. The services in the network analytics market provide complete planning and execution of strategies for implementing long-term network infrastructure.
Based on application, the large enterprise segment is expected to be the most lucrative.
Based on region, North America is expected to be the most lucrative. owing to the widespread use of analytics solutions Aside from that, the availability of scalable infrastructure, increased cyber-attacks, malware, and increased technology adoption by many organizations will all benefit the network analytics market in this region.
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