According to market research estimations put forth by Inkwood
Research, the Global Network
Traffic Analytics Market is projected to register a CAGR of 22.68% in
terms of revenue during the forecasting years of 2019-2028.
“Browse 38 Market Data Tables and 43 Figures
spread over 188 Pages, along with an in-depth TOC on the Global Network Traffic Analytics Market Forecast
2019-2028.”
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The network is the cornerstone of every organization, since
it is the medium for sharing and communicating information and resources. Thus
the security of the network becomes a focal point. Network traffic analytics records,
studies, and analyzes network traffic for improving network operations and
security. The primary focus of network traffic analytics is real-time threat
identification. It can also aid in providing a richer perspective on activity
and help facilitate a response. Organizations have been mining network traffic
data for decades for enhancing bandwidth as enterprise performance. These
security solutions evaluate traffic and its flow, thereby building a baseline
of traffic patterns.
Rising
Distributed Denial of Service (DDoS) & Ransomware Attacks impacts Market
Growth
There has been an increase in the threat of ransomware and
distributed denial of service (DDoS) attacks, fueled by easy access to
easy-to-use tools. They directly attack business systems and individuals, incurring
huge personal and financial losses. The rising number of attacks on cloud and
authentication networks has challenged the conventional IT network
infrastructure. Attacks like Wannacry have thwarted multiple vulnerabilities
affecting networks extremely quickly, causing to terminate healthcare services,
factory production lines, and commercial systems. DDoS attacks rose by 25% in
2015, and are projected to increase by 2.6 times to 17 million by the year
2020, as per Corero. Such distressing growth in network attacks has been a
major factor propelling the adoption of network traffic analytics solutions.
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Data Center
is estimated to Record the Highest CAGR in the End-User Segment
A data center is a physical space utilized by large and
small & medium companies for storing their crucial data and applications.
They provide services like data networking and management, data recovery, data
storage, and backup. They form an instrumental part of the large enterprises.
Many enterprises are consolidating them with hybrid, public, and private cloud
services. Such a hybrid approach results in the accumulation of a large number
of enterprise resources that get shared among various teams with the
enterprise. This is projected to increase the demand for network traffic
management in the forthcoming years. Also, the growing data centers result in the
generation of data, wherein it becomes necessary to identify network issues and
threats, usage spikes, provide high-quality services. Such factors are set to
result in surging demands for network traffic analytics solutions among data center
users.
Asia Pacific
is anticipated to Register the Highest CAGR by 2028
The Asia Pacific region's growth prospects are determined by
the rising adoption of network traffic analytics solutions by enterprise
customers in conducive economies like India, China, and Australia. There also
has been a considerable increase in the number of internet and smartphone
users. The growth is also supplemented by the rising disposable income of
people in Asian countries, which further promotes the use of the internet of
things (IoT), cloud computing, and connected devices. Moreover, cyber-attacks
have been rising, and it is creating a demand for such security solutions by various
businesses so as to secure their data and information.
The market encompasses various regional and global players,
and had high barriers for the entry of new players. Still, the new entrants have
had gained traction in the market. The market aspects include increasing levels
of product penetration, high levels of competition, and high/moderate product
differentiation. Some of the eminent companies in the market include, Solarwinds
Corporation, Genie Networks Ltd, Juniper Networks Inc, Palo Alto Networks Inc,
Broadcom Inc (Symantec), etc.
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