Network Analytics Market
Network Analytics Market
Network Analytics Market to Reach US$ 8.6 bn by 2032, driven by increasing adoption of cloud based services: Global Insight Services
New York, August 2023: According to a new research study by Global Insight Services (GIS), the global Network Analytics Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 8.6 bn by 2032.
Network analytics entails leveraging big data concepts and tools to effectively manage and safeguard data networks. Such analysis tools find particular relevance in organizations with intricate networks or stringent security requirements. To enable comprehensive network analytics, user-facing elements characteristic of big data are indispensable. These encompass extensive dashboards, powerful ad-hoc querying and reporting capabilities, along with versatile and interactive visualization tools that facilitate the exploration of relationships, trends, and anomalous events.
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Network Analytics Market: Key Trends and Drivers
Exponential growth of data and the increasing complexity of modern networks. As the digital landscape continues to evolve, organizations are generating vast amounts of data from various sources, including mobile devices, IoT devices, social media platforms, and cloud applications. This data explosion poses significant challenges for businesses in terms of managing, securing, and optimizing their networks effectively. Network analytics solutions play a crucial role in addressing these challenges by providing advanced tools and technologies to monitor, analyze, and interpret network data in real-time. These solutions empower businesses to gain valuable insights into network performance, traffic patterns, and security threats, enabling them to proactively detect and mitigate issues, improve operational efficiency, enhance user experiences, and make informed strategic decisions. As the demand for robust network analytics solutions continues to rise, fueled by the ongoing digital transformation and the proliferation of interconnected devices, the network analytics market is expected to witness substantial growth in the coming years.
Network Analytics Market: Restraints & Challenges
The high cost of network analytics solutions poses a significant restraint on the network analytics market. As businesses and organizations increasingly recognize the importance of leveraging data insights to optimize their networks’ performance and security, the demand for advanced network analytics tools is on the rise. However, the substantial financial investment required to implement and maintain these solutions can deter many potential customers from adopting them. Smaller enterprises and budget-conscious organizations may find it challenging to justify the expense, especially when considering other competing IT priorities. Additionally, the high cost may limit the accessibility of these solutions to a narrower pool of customers, slowing down the overall growth and adoption of network analytics technologies.
Network Analytics Market Report Findings
The cloud segment is anticipated to hold a majority of the Network Analytics Market size throughout the study period.
Based on the deployment, the Network Analytics market is divided into On-Premise, and Cloud. Of these, the on-premise segment registered significant revenue in 2022. The cloud segment dominated the market in 2022. This is due to the increasing adoption of cloud infrastructure by businesses. Cloud-based network analytics solutions offer scalability, flexibility, and cost-effectiveness, making them highly attractive for enterprises of all sizes. With the rise of distributed workforces and IoT devices, the demand for advanced analytics tools capable of handling vast volumes of data has surged. Cloud-based network analytics provides real-time insights into network performance, security threats, and user behavior, empowering organizations to optimize their resources and enhance operational efficiency. As cloud-based applications and services become more prevalent, traditional on-premises solutions struggle to handle the complexity, further driving the market’s shift towards cloud-based analytics.
The integration of AI and machine learning algorithms enhances these solutions’ capabilities, making them predictive and proactive in addressing network issues. As cloud computing continues to be a dominant force in the business world, the cloud segment in the network analytics market is poised for continuous growth and innovation, revolutionizing network management practices.
The into network intelligence solution segment is anticipated to hold a majority of the Network Analytics Market size throughout the study period.
By component, the industry is bifurcated into network intelligence solution, and services. In 2022, the integration & deployment segment held the significant revenue share. This is owing to increasing adoption of network intelligence solutions across various industries. Network intelligence solutions play a crucial role in optimizing network performance, enhancing security, and improving overall operational efficiency. As organizations increasingly rely on complex and distributed networks to support their operations, the demand for advanced analytics tools to monitor, analyze, and manage network infrastructure has surged.
Moreover, growing need for real-time insights into network behavior. With the proliferation of IoT devices, cloud-based applications, and data-intensive services, traditional network management approaches have become inadequate. Network intelligence solutions offer advanced capabilities such as predictive analytics, anomaly detection, and automated network optimization, enabling businesses to proactively identify and address potential issues before they escalate. Additionally, the rising concerns over cybersecurity threats have further fueled the adoption of network analytics tools to monitor and protect network environments from potential breaches and attacks. As a result, the network analytics market is projected to experience robust growth in the coming years, as organizations recognize the strategic importance of network intelligence in achieving seamless and secure digital operations.
The Customer Analysis segment is likely to hold a dominant Network Analytics Market share and grow at a substantial CAGR during the forecast period.
Based on application, the industry is categorized into Customer Analysis, Risk Management, Fault Management, Network Performance Management, Compliance Management, and Quality Management. The Customer Analysis segment accounted for the significant revenue share in 2022. Companies have recognized the immense value of understanding their customers’ behavior, preferences, and needs to optimize their services and enhance customer satisfaction. Network analytics has played a crucial role in capturing and analyzing vast amounts of customer data, providing actionable insights to businesses. By leveraging advanced algorithms and machine learning techniques, companies have been able to identify patterns and trends in customer behavior, segment their customer base, and personalize their offerings accordingly. This targeted approach has not only led to increased customer loyalty but has also contributed significantly to revenue growth as businesses can focus their resources on meeting specific customer demands effectively.
Furthermore, the increasing adoption of smart devices and the exponential growth of internet usage have bolstered the demand for network analytics in the Customer Analysis segment. The proliferation of IoT devices and the interconnectedness of various systems have generated an unprecedented amount of data, presenting both challenges and opportunities for companies. Network analytics has proven indispensable in handling and making sense of this data deluge. By analyzing customer interactions across different channels and touchpoints, businesses have been able to gain a comprehensive understanding of the customer journey. This, in turn, has enabled them to optimize their marketing strategies, develop personalized recommendations, and proactively address customer pain points. As companies continue to recognize the importance of data-driven decision-making, the Customer Analysis segment in the network analytics market is poised to experience sustained growth, making it a focal point for innovative solutions and technological advancements.
The Cloud Service Providers segment is anticipated to hold a majority of the Network Analytics Market size throughout the study period.
Based on end-user, the Network Analytics market is divided into Cloud Service Providers, Managed Service Providers, Telecom Providers, and Others. The Cloud Service Providers segment is anticipated to grow at a promising CAGR during the forecast period. The network analytics market has witnessed significant growth in recent years, with Cloud Service Providers (CSPs) playing a pivotal role in driving this expansion. As businesses increasingly rely on cloud-based services, the demand for robust network analytics solutions has surged, and CSPs have been quick to respond to this opportunity. With their expansive global data centers and vast networks, CSPs are well-positioned to offer sophisticated analytics services to their customers. These providers offer a wide array of network analytics solutions, including real-time monitoring, traffic analysis, security threat detection, and performance optimization. By leveraging their extensive infrastructure and expertise, CSPs can deliver scalable and efficient analytics services, enabling businesses to gain valuable insights into their network operations, enhance security measures, and improve overall network performance.
Furthermore, CSPs’ commitment to innovation and continuous improvement has further fueled their growth in the network analytics market. As technology advances and data volumes continue to soar, CSPs have invested heavily in developing cutting-edge analytics tools powered by machine learning and artificial intelligence. These advanced capabilities enable businesses to extract meaningful patterns and trends from massive data sets, leading to better decision-making and enhanced operational efficiency. Additionally, CSPs’ ability to offer a seamless integration of network analytics with their broader suite of cloud services has been a key differentiator. This integrated approach allows businesses to access comprehensive insights into their cloud-based infrastructure, applications, and services, thereby optimizing their overall cloud experience and driving greater customer satisfaction. As the demand for cloud services continues to rise, Cloud Service Providers are poised to maintain their strong growth trajectory in the network analytics market, strengthen their position.
The North America region is estimated to exhibit the highest growth rate during the Network Analytics Market forecast period.
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America holds the largest market share in the Network Analytics industry, owing to the early adoption of network analytics tools by leading players in the region. North America is renowned for its technological advancements, with businesses in the region exhibiting a inclination for adopting emerging technologies promptly. The United States and Canada play pivotal roles in the technological development of the area, with many US businesses heavily investing in network analytics to leverage insights from network traffic, thereby enhancing customer service and network efficiency. This commitment to embracing new technologies has positioned North America as a leader in the global tech landscape, with the region’s progress likely to shape the future of network analytics and related technologies.
The United States, has witnessed a rise in cloud-based analytics start-ups with a specific focus on network analytics, further reinforcing its dominance in the market. The country’s extensive use of network analytics technologies has solidified its position as the biggest market for this technology. The rapid expansion of the network analytics market in the United States can be attributed to the country’s robust infrastructure development and the substantial growth of cutting-edge technologies including the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), and cloud computing. The region’s increasing vulnerability to cyber-malware attacks on networks, coupled with high technology adoption rates, is expected to further contribute to market growth. Additionally, the presence of prominent telecom companies like AT&T and Verizon, which extensively employ network analytics, further boosts the region’s market dominance.
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Market players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the global Network Analytics market include Broadcom Inc., Huawei Technologies Co., Ltd., IBM, Juniper Networks, Inc., NETSCOUT, Nokia, SAS Institute Inc, Cisco Systems, Hewlett Packard Enterprise Development LP, and Telefonaktiebolaget LM Ericsson, among others.
Recent Developments in the Network Analytics Market:
- In December 2022, Nokia expanded its partnership with BT in a five-year deal to provide its AVA Analytics software for fixed networks, which would further help the British telecom operator strengthen its overall network monitoring through machine learning (ML) and artificial intelligence (AI). The new deal would enhance Nokia’s dashboard solution, ‘
- In October 2022, Communication Service Providers (CSPs) may benefit from Network Analytics Suite, a new set of virtualized cloud infrastructure products developed by Oracle, to gain more knowledge about the performance and stability of their 5G data centers. It gathers data from the 5G network functions (NFs), app functions (AFs), and operations, administration, and maintenance that comply with the standards (OAM).
- In October 2022, Oracle released the Oracle Network Analytics Suite. The new cloud-native portfolio of analytics solutions adds various network function data with machine learning and artificial intelligence, mainly to assist the operators in making more informed, automated decisions around the overall stability and performance of their entire 5G network core.
- In June 2022, IBM announced its plans to buy Randori, a leading attack surface management (ASM) and offensive cybersecurity business in the Boston region, at RSAC 2022. Randori helps clients find external assets that attackers can see, whether they are on-premises or in the cloud, and puts the most dangerous ones at the top of the list.
Network Analytics Market Report Coverage
- The report offers a comprehensive quantitative as well as qualitative analysis of the current global Network Analytics market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
- A thorough analysis of market trends and restraints is provided.
- Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
- The forecasts in this report are made by examining the recent trends along with future Network Analytics market potential from 2022 to 2032 in terms of revenue.
- Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the Network Analytics market are also analyzed.
- Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global Network Analytics industry.
Global Network Analytics Market Segmentation
- Network Intelligence Solutions
- Professional Services
- Managed Services
- Customer Analysis
- Risk Management
- Fault Management
- Network Performance Management
- Compliance Management
- Quality Management
- Cloud Service Providers
- Managed Service Providers
- Telecom Providers
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East