Network Traffic Analysis Industry Overview
The global network traffic analysis market size was valued at USD 2.49 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.7% from 2021 to 2028.
The growth can be attributed to the rising need for proper network administration in line with the growing network complexities. The growing internet penetration rate and the subsequent rise in cybercrimes are expected to contribute to the market growth. Continued cloud migration, IoT deployments, and 5G rollouts also bode well for the growth of the market. The outbreak of the COVID-19 pandemic and the subsequent lockdowns and restrictions imposed in different parts of the world as part of the efforts to arrest the spread of coronavirus has had a moderate impact on network traffic analysis. The pandemic and the effort to control it have slowed global economic activity and reduced the efficiency of normal business activity. However, the growing awareness and need for improved visibility into devices connecting to the network drive the market growth. Surging demand for cloud-based software will drive the demand for network traffic analysis.
Gather more insights about the market drivers, restrains and growth of the Global Network Traffic Analysis Market
Furthermore, the volumes of data being exchanged over the data networks show no signs of abating as organizations are aggressively adopting remote working and work-from-home practices in the wake of the outbreak of the pandemic as part of the efforts to ensure the safety of the employees. This has particularly triggered the need for securing the data transmission and managing the data traffic efficiently, thereby driving the demand for network traffic analysis solutions.
The significant spike in traffic over the data networks is driving the need for network traffic analysis. Cloudflare had already reported additional stress on the global wireless networks in March 2020 when the pandemic was gripping the world. Access requests are particularly on a rise in line with the growing preference for remote working. Regulatory mandates, such as those drafted by the Federal Trade Commission regarding network security in the wake of the growth in cybercrimes across the globe, are also prompting both large enterprises and small and medium enterprises to opt for network traffic analysis solutions.
Advances in communications and networking technology are expected to open new growth opportunities for the market over the forecast period. The growing preference for connected devices to the internet, such as smartphones, laptops, and tablets, among individuals is expected to drive the growth of the market. The continued rollout of IoT networks and the subsequent increase in IoT traffic also bodes well for the growth of the market. The Bring Your Own Device (BYOD) policy being pursued aggressively by various organizations is also expected to necessitate the adoption of network traffic analysis solutions.
Proper administration of data networks has become of paramount importance in the wake of the continued establishment of data centers in different parts of the world, and the subsequent growth in data network infrastructure and exponential rise in cloud traffic. The rising number of cyberattacks, such as malware attacks, computer virus attacks, and Denial of Service attacks, targeting enterprise networks is also necessitating the adoption of network traffic analysis solutions. However, a looming lack of adequate awareness and the high costs associated with network traffic analysis solutions is expected to restrain the growth of the market over the forecast period.
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- Laptop Market – The global laptop market size was valued at USD 101.67 billion in 2017. It is estimated to expand at a CAGR of 0.4% during the forecast period. In terms of volume, the market is anticipated to register a CAGR of 1.0% during the same period.
- Bring Your Own Device Market – The global Bring Your Own Device (BYOD) market was valued at USD 75.99 billion in 2013 and is expected to witness substantial growth over the forecast period. Increased proliferation of smartphones and the roll-out of services such as 4G LTE are expected to drive market growth in both developing and developed economies.
Network Traffic Analysis Market Segmentation
Grand View Research has segmented the global network traffic analysis market based on component, deployment, organization, vertical, and region:
Network Traffic Analysis Component Outlook (Revenue, USD Million, 2018 – 2028)
- Software
- Service
Network Traffic Analysis Deployment Outlook (Revenue, USD Million, 2018 – 2028)
- On-premise
- Cloud
Network Traffic Analysis Organization Outlook (Revenue, USD Million, 2018 – 2028)
- Small and Medium Enterprises
- Large Enterprises
Network Traffic Analysis Vertical Outlook (Revenue, USD Million, 2018 – 2028)
- BFSI
- Healthcare
- Government
- Retail
- Education
- Others
Network Traffic Analysis Regional Outlook (Revenue, USD Million, 2018 – 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- July 2020: Kentik announced the launch of the industry’s first Synthetic Monitoring Solution to provide autonomous testing. The solution proactively tests performance elements and adapts to dynamic internet traffic and paths.
Key Companies profiled:
Some prominent players in the global network traffic analysis market include
- Awake Security Inc.
- Broadcom Corporation
- Cloudflare, Inc.
- Core Security Technologies
- NEC Corporation
- NETSCOUTSystems, Inc.
- Netreo Incorporated
- SolarWinds
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