The network traffic analysis solution market was worth US$ 2.9 Billion in 2022 and is predicted to increase at an 11.3% compound annual growth rate (CAGR) to US$ 8.5 Billion by 2032.
The increase might be ascribed to the increasing necessity for appropriate network administration as network complexity increase. The rising rates of internet penetration and, as a result, the rise in cybercrime are predicted to contribute to network traffic analysis solution market growth. Continued cloud migration, IoT installations, and 5G rollouts all bode well for network traffic analysis solution market growth.
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The breakout of the COVID-19 pandemic, as well as the accompanying lockdowns and limitations enforced in many regions of the world to halt the spread of the coronavirus, has had a minor influence on network traffic monitoring.
The epidemic, as well as the efforts to contain it, have delayed worldwide economic activity and impaired the efficiency of routine corporate operations. However, network traffic analysis solution market growth is being driven by rising awareness and the demand for enhanced visibility into network-connected devices. Demand for network traffic analysis solution will be fueled by rising demand for cloud-based services.
The volume of data transmitted via data networks shows no indications of slowing, as firms actively implement remote working and work-from-home practises in the aftermath of the epidemic as part of attempts to assure employee safety. This has heightened the requirement for secure data transfer and effective data traffic management, fueling demand for network traffic analysis solution. The enormous increase in data network traffic necessitates network traffic analysis solution.
The United States had the biggest revenue share. The developed world is noted for its early and aggressive embrace of cutting-edge technology such as IoT and cloud computing.
The increased use of network traffic analysis solution for defence and military applications bodes well for the regional network traffic analysis solution market’s growth.
Over the projection period, Asia Pacific is predicted to grow at the fastest CAGR. The proliferation of smartphones and laptops, as well as the on-going construction of high-speed internet networks, characterise the region.
Several firms in network traffic analysis solution market such as China, India, and Australia are expanding complex corporate data networks.
In response to the increasing frequency of cyber-attacks on corporate networks, some countries in Asia Pacific are contemplating legislation measures focused at data protection.
KEY TAKEAWAYS:
- In the deployment type sector, on-premises from the network traffic analysis solution market is anticipated to flourish at the quickest CAGR of 14.6%.
- With a CAGR of 11.6%, Banking, Financial Services, and Insurance (BFSI) are predicted to grow significantly in the industry vertical sector of the network traffic analysis solution market.
- The market size for network traffic analysis solution market in the United States is expected to reach US$ 2.2 Billion by 2032, growing at a CAGR of 12.3% during the research period.
- United Kingdom is anticipated to reach a market size of US$ 681.2 Million in Network traffic analysis solution by 2032, with a CAGR of 12.3% during the research period.
- China’s Network traffic analysis solution market is anticipated to be worth US$ 1.6 Billion by 2032, with a CAGR of 14.9% over the forecast period.
- Japan is expected to have a market size for Network traffic analysis solution of US$ 479.6 Million by 2032, with a CAGR of 13.8% during the research period.
- By 2032, South Korea is expected to reach a market size of US$ 590.0 Million in network traffic analysis solution, with a CAGR of 13.6% during the research period.
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COMPETITIVE LANDSCAPE:
Due to the existence of both established and local market participants, the network traffic analysis solution market might be classified as extremely fragmented. Furthermore, all of these network traffic analysis solution market participants cater to a small number of clients, increasing network traffic analysis solution market competitiveness.
To strengthen their market position, mark network traffic analysis solution market et participants such as Awake Security Inc., Broadcom Corporation, Cloudflare, Inc., Core Security Technologies, NEC Corporation, NETSCOUT Systems, Inc., and SolarWinds, among others, are pursuing various growth strategies such as new product launches, mergers and acquisitions, and strategic partnerships.
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