The network telemetry market is predicted to increase at a Compound Annual Growth Rate (CAGR) of 15.2% during the forecast period, from USD 368.7 million in 2022 to USD 1.5 Billion by 2032.
An increase in network assaults and security breaches, as well as a rising requirement to promptly handle downtime issues, are projected to fuel the network telemetry market’s growth.
The need to manage massive amounts of network performance data, as well as emerging technologies such as the Internet of Things (IoT), Artificial Intelligence (AI),and Software-defined Networking (SDN), are expected to provide network telemetry vendors with numerous network telemetry market opportunities over the next five years.
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The network telemetry market is witnessing rapid growth in the wake of evolving technologies such as Software Defined Networking (SDN) and Network Function Virtualization (NFV). Network telemetry provides an accurate and real-time analysis of data transmission parameters for these new technologies.
In addition, the growing stress on networking infrastructure due to work from home policies amidst the COVID-19 outbreak has also boosted the network telemetry market growth. For instance, in March 2020, Cloudflare reported additional stress of over 25% on global fixed and wireless networks after the imposition of global quarantine policies.
One major development that has raised expectations among competitors in the network telemetry market is the expansion of network telemetry applications. This is why many firms are eager to launch new items in order to remain relevant and visible in the race. The network telemetry market is anticipated to see increased product demand as new applications emerge.Companies have made investments in attracting talent that is expected to allow them to produce high-quality, need-specific products.
Key Takeaways:
In the component sector, solution from the network telemetry market is anticipated to flourish at the quickest CAGR of 14.6% through 2032.
With a CAGR of 15%, service providers are predicted to grow significantly in the end user sector of the network telemetry market.
The market size for network telemetry market in the United States is expected to reach US$ 525.3 Million by 2032, growing at a CAGR of 15% during the forecast period.
United Kingdom is anticipated to reach a market size of US$ 70.9 Million in Network telemetry by 2032, with a CAGR of 14.3% during the forecast period.
China’s Network telemetry market is anticipated to be worth US$ 87 Million by 2032, with a CAGR of 14.7% over the forecast period.
Japan is expected to have a market size for Network telemetry of US$ 80.6 Million by 2032, with a CAGR of 14.2% during the forecast period.
By 2032, South Korea is expected to reach a market size of US$ 52.9 Million in network telemetry, with a CAGR of 13.7% during the forecast period.
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COMPETITIVE LANDSCAPE:
Cisco Systems (US), Juniper Networks (US), Arista Networks (US), Mellanox Technologies (US), Pluribus Networks (US), Barefoot Networks (US), Solarflare Communications (US), and VOLANSYS Technologies are among the companies represented in the network telemetry market. Cisco is one of the market leaders in network telemetry market. Cisco’s Approach-Driven Telemetry in network telemetry allows data to stream constantly using a push model, allowing real-time access to operational analytics. Model-Driven Telemetry may ensure that large amounts of data are genuinely accessible by modelling the data with YANG.
RECENT DEVELOPMENT:
Arista Networks announced the introduction of CloudVision 2019, its management software, in September 2019. It allows for monitoring, automation, and management. Furthermore, it assists enterprises in lowering operating expenses, increasing network agility, and reducing hazards.
Juniper Networks teamed with Telefonica, UK, in October 2019 to construct the Fusion Network, secure and automated cloud-enabled network architecture. According to the agreement, Juniper Networks is Telefonica’s network Internet Protocol (IP) strategic partner.
Mellanox Technologies teamed with VMware in August 2019 to deliver its Remote Direct Memory Access (RDMA) networking solutions to VMware for enabling its virtualized Machine Learning (ML) solutions to boost GPU efficiency and usage.
Pluribus Networks collaborated with Vapor IO in May 2019 to implement Netvisor ONE OS 5.0 and Adaptive Cloud Fabric at numerous Vapor IO Kinetic Edge locations in Chicago, US. According to the terms of the agreement, Vapor IO is expected to seamlessly connect its many edge data centre sites with complete telemetry, sophisticated network services, and deep slicing across multiple data centres regardless of their geographic locations.
Tofino 2, the second iteration of Barefoot Networks’ P4-programmable Tofino Ethernet switch of the Application-Specific Integrated Circuit (ASIC) family, was released in December 2018. Tofino 2 is compatible with Barefoot SPRINT and Barefoot Networks’ upgraded version of the industry-standard In-band Network Telemetry (INT), which provides fine-grained and intelligent real-time visibility of network traffic per packet.
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