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Network Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Network Type ((Enterprise Network (Cloud, On-Premise, Hybrid) and Telecom Network)), By End User ((Organization, Enterprise, Businesses (SMEs, Large Enterprises), Telecom Companies, and Data Centers)), and Regional Forecast, 2023 – 2030

Region : Global | Format: PDF | Report ID: FBI108633

 

KEY MARKET INSIGHTS

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The network analytics market size was valued at USD 1.87 billion in 2022 and is projected to reach USD 9.94 billion by 2030, exhibiting a CAGR of 23.7% during the forecast. North America accounted for a market value of USD 0.83 billion in 2022.


In the scope of work, the report includes solutions offered by companies such as Cisco Systems, Inc., VMware, Inc., Juniper Networks, IBM Corporation, Plixer, LLC., Cynet, Subex, Nokia Corporation, and others.


Network analytics is a big data application and tool used to manage data network security. Network analysis controls all unwanted activities. Additionally, it provides information about the devices available on the network, such as their performance and communication status. It also provides insights into how the organization is using the network and how the network is performing within the organization.


COVID-19 IMPACT


Growing Demand for Data and Network Analytics in IT Companies Fueled the Market Growth


The COVID-19 pandemic created a serious socio-economic situation, leading to the temporary closure of thousands of businesses worldwide. Companies were forced to make significant changes in their operations, such as reducing their workforce and diversifying their products and services. To adapt to these changes, companies adopted and implemented business intelligence strategies. These strategies involved flexible risk management, artificial intelligence (AI) systems, and data analytics aimed at helping users make informed decisions and improve commercial performance.


During the pandemic, the demand for network and data analytics in IT companies experienced considerable growth. This was particularly driven by the need for performing forensic investigation, improving the data security network, fine-tuning performance, and predictive traffic. For instance,



  • According to the 2021 Software Development and Analytics Survey, more than a third of respondents (39%) said they have increased their investments in data analytics tools and technologies. In addition, 41% of respondents admitted the growing customer demand for network access and data analysis.


LATEST TRENDS


Advancement of Internet of Things (IoT) in Analytics Solutions Contributing to Business Growth


The Internet of Things plays a crucial role in network analytics by providing a wealth of data from connected devices. IoT devices generate vast amounts of data and network analytics leverages this information to optimize performance, enhance security, and improve overall efficiency. This involves analyzing data patterns, identifying anomalies, and making data-driven decisions to ensure the network operates seamlessly. For instance,



  • According to the report on IoT Analytics 2022, IoT connections grew 18%, with 14.3 billion active IoT devices. The report predicts that by 2023, the number of connected IoT devices will further increase by 16%, reaching 16.7 billion active endpoints globally.


The above factors are considered as network analytics market trends.


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DRIVING FACTORS


Increased Adoption of Cloud Computing in Network Analytics by Major Companies to Boost the Market Growth


Network analytics in cloud computing involves examining and optimizing cloud-based network performance, security, and efficiency. It includes monitoring traffic, analyzing data patterns, and identifying potential issues to ensure seamless operation and resource utilization in the cloud environment. Analytics tools help monitor resource usage, providing efficient allocation, and utilization of cloud resources, which can lead to cost savings and improve scalability. In addition, cloud computing platforms are constantly evolving, allowing solutions to be deployed without the complexity and costs of managing and purchasing underlying solutions and services. Therefore, businesses are adopting cloud computing to provide flexibility in their networking, driving market growth.


RESTRAINING FACTORS


Lack of Awareness among Companies and Skill Shortage Can Hamper the Market Growth


As many companies migrate to the cloud, many of them lack a clear understanding of the number of cloud resources in use and the process for aligning them. There is still a lack of understanding among businesses about key identity-related security controls. Lack of understanding of the general security liability model contributes to cyberattacks that can hinder the market growth. In addition, the field of analytics requires specialized skills. Organizations may face challenges in securing staff with necessary expertise for the effective deployment and management of analytics solutions. This skill gap can make it difficult to exploit the full potential of these tools.


SEGMENTATION


By Component Analysis


Rising Need for Sophisticated Analytics Solutions for Enhanced Network Experience to Drive Market Growth


Based on component, the market is bifurcated into solutions and services.


The solutions segment captured the maximum market share in 2022, as networks became more intricate and dynamic in the cloud environment. The need for sophisticated analytics solutions has risen, helping organizations manage and optimize these complex infrastructures efficiently. Owing to this characteristic, it will likely continue its growth during the forecast period.


Services segment is expected to grow at a considerable CAGR during the forecast period. System integration service providers offer consistent services to end users, effectively deploying and integrating these analytics into their existing network and IT infrastructure systems. The demand for these services in the market is likely to proliferate as organizations need to comply with varying network and radiation regulations worldwide.


By Network Type Analysis


High Volume of Data in Telecom Firms to Foster Market Growth


Based on the network type, the market is classified as enterprise and telecom network.


Telecom network segment held a major market share in 2022. Telecommunications companies generate vast volumes of data every day. Applying analytics in the telecommunications industry helps businesses to handle this enormous amount of ​​information. Analytics enables telecom operators to make informed decisions based on actionable insights from their vast data sets, contributing to the growth of the segment.


Enterprise networks segment is predicted to grow at the highest CAGR during the forecast period. Enterprise networks utilize analytics to monitor, manage, and optimize their infrastructure. This involves collecting and analyzing data to gain insights into network performance, security, and user behavior. Enterprise networks are further categorized into cloud, on-premise, and hybrid. Cloud holds a significant market share and is growing at the highest CAGR owing to the global development of cloud computing solutions.


By End User Analysis


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Rising Awareness About Network Security and Reliability Propel the Adoption of Analytics in Data Centers


By end user, the market is categorized into organizations, enterprises, businesses, telecom companies, and data centers.


Data centers segment held the maximum network analytics market share in 2022. Analytics in data centers enhanced the reliability, security, and cost-effectiveness of the infrastructure. This support enables the delivery of services and solutions with high performance and availability. It involves the analysis of data gathered from network devices, servers, applications, and other components within the data center environment.


Organizations, enterprises, and businesses segment is anticipated to grow at the highest CAGR during the forecast period. Analyzing network data helps to detect anomalies and potential security threats. It aids in identifying and responding to cyber-attacks, ensuring the integrity and confidentiality of sensitive business information. Thus, the demand for these analytics will drive the market growth in the upcoming years. Organizations, enterprises, and businesses are further categorized into SMEs and large enterprises. The SMEs sub-segment will grow at the highest CAGR during the forecast period due to the adoption of cloud solutions. This adoption is driving the market growth, as SMEs are increasingly moving to the cloud to reduce costs and improve operational efficiency.


REGIONAL INSIGHTS


By region, the market has been analyzed across five major regions namely North America, South America, Europe, the Middle East & Africa, and Asia Pacific.


North America Network Analytics Market Size, 2022 (USD Billion)

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North America holds a major share of the market. The increasing availability of technology and infrastructure in the region is expected to contribute to market growth. This is combined with increased cyber malware attacks in the region and growing technology adoption rates. North America is also home to the world's largest telecommunications companies, such as Verizon and AT&T, which use network analytics capabilities extensively.


The European market is influenced by increased digital transformation across industries, the adoption of advanced technologies such as 5G, and the growing volume of data traffic. These factors are contributing to the demand for network analytics in the region. European organizations are leveraging these tools to optimize network performance, enhance security, and gain valuable insights into user behavior.


The Asia Pacific region is witnessing the gradual adoption of analytics solutions. This is owing to the increased adoption of digital technologies, rising demand for network optimization, growing awareness of cybersecurity threats, and the need for efficient network management solutions. Additionally, the proliferation of IoT devices and the expansion of the 5G network are likely to contribute to regional growth during the forecast period.


The South American and Middle East & African markets are influenced by increased technology adoption, rising smartphone penetration, investment in infrastructure, and a large-scale acceptance of cloud computing.


KEY INDUSTRY PLAYERS


Market Players Are Focusing on Various Strategies to Expand their Analytics Solutions Worldwide


Leading companies are working to expand their geographic presence globally by introducing industry-specific solutions. These companies strategically collaborate with local partners to gain strong regional influence. Additionally, major companies in the market are launching new products to attract and retain their customers. Furthermore, continuous investments in product research and development are aligning with the growth of the global market. Therefore, by adopting such strategies, companies can sustain and maintain their competitiveness in the market.


List of Key Companies Profiled:



  • Nokia Corporation (Finland)

  • Cisco Systems, Inc. (U.S.)

  • VMware, Inc. (U.S.)

  • Juniper Networks (U.S.)

  • IBM Corporation (U.S.)

  • Vehere, Inc. (U.S.)

  • Plixer, LLC. (U.S.)

  • Subex (India)

  • Aruta Networks (U.S.)

  • Cynet (U.S.)


KEY INDUSTRY DEVELOPMENTS:



  • September 2023 – Ericsson expanded its Ericsson Expert Analytics product, which offered advanced troubleshooting features. Advanced troubleshooting utilized AI and machine learning tools to evaluate telecommunications network data in present and identify the root cause of any issues for troubleshooting purposes.

  • April 2023 Google Cloud and Accenture announced a partnership to help businesses in improving critical assets protection and increase security against persistent cyber threats. The two companies collaborated to improve their businesses by leveraging Google Cloud's advanced technology in data analytics, machine learning (ML), artificial intelligence (AI), and cybersecurity to build more robust digital cores.

  • February 2023 – Cisco announced that it is partnering with V.tal to surge the volume of its neutral, multi-tenant fiber network in Brazil to accelerate 5G services.  This expansion aimed to support the future of the Internet and enhance nationwide connectivity.

  • February 2023 – Oracle Corporation launched its Director of Network Analytics Data. This would allow operators to adaptably integrate 5G core capabilities into their existing operational tools, even for network functions.

  • October 2022 – Oracle Corporation launched the “Network Analysis Suite”, which enhanced various network function data with machine learning and artificial intelligence. It primarily helped operators in making informed decisions and automating network stability further.


REPORT COVERAGE


An Infographic Representation of Network Analytics Market

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The report provides a detailed market analysis and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.


Report Scope & Segmentation










































ATTRIBUTE



DETAILS



Study Period



2017-2030



Base Year



2022



Estimated Year   



2023



Forecast Period



2023-2030



Historical Period



2017-2021



Growth Rate



CAGR of 23.7% from 2023 to 2030



Unit



Value (USD billion)


Segmentation

By Component



  • Solution

  • Services


By Network Type



  • Enterprise Network


    • Cloud

    • On-premise

    • Hybrid


  • Telecom Network


By End User



  • Organizations, Enterprises, Businesses

    • SMEs

    • Large Enterprise



  • Telecom Companies

  • Data Centers


By Region



  • North America (By Component, By Network Type, By End User, and By Country)

    • U.S.

    • Canada

    • Mexico



  • South America (By Component, By Network Type, By End User, and By Country)

    • Brazil

    • Argentina

    • Rest of South America



  • Europe (By Component, By Network Type, By End User, and By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Benelux

    • Nordics

    • Rest of Europe



  • Middle East & Africa (By Component, By Network Type, By End User, and By Country)

    • Turkey

    • Israel

    • GCC

    • North Africa

    • South Africa

    • Rest of the Middle East & Africa





  • Asia Pacific (By Component, By Network Type, By End User, and By Country)


    • China

    • Japan

    • India

    • South Korea

    • ASEAN

    • Oceania

    • Rest of Asia Pacific




Frequently Asked Questions

According to Fortune Business Insights, the market is projected to reach USD 9.94 billion by 2030.

In 2022, the market stood at USD 1.87 billion.

The market is projected to grow at a CAGR of 23.7% during the forecast period.

By network type, telecom network led the market in 2022.

Increased adoption of cloud computing in network analytics by major companies is a key factor augment the market growth.

Cisco Systems, Inc., VMware, Inc., Juniper Networks, IBM Corporation, and Plixer, LLC. are the top players in the market.

North America region is expected to hold the highest market share.

By end user, organizations, enterprises, businesses segment is expected to grow with the highest CAGR.

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