Allied Market Research published a new report, titled, “Network Analytics Market Growing at 19.7% CAGR Reach USD 17 Billion by 2032 .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The network analytics market is expected to witness notable growth owing to rise in network complexities, surge in network optimization, and increase in adoption of cloud-based network analytics solutions. Moreover, an increase in regulatory compliance and data privacy requirements is expected to provide a lucrative opportunity for the growth of the market during the forecast period. However, security and privacy concerns limit the growth of the network analytics market.
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The global network analytics market was valued at USD 2.9 billion in 2022, and is projected to reach USD 17 billion by 2032, growing at a CAGR of 19.7% from 2023 to 2032.
The network analytics market is segmented based on component, deployment mode, enterprise size, application, end user, and region. Based on component, the market is categorized into network intelligence solutions and services. By deployment mode, it is categorized into on-premise and cloud. Based on enterprise size, the market is categorized into large and small and medium-sized enterprises. In terms of application, the market is classified into customer analysis, risk management and fault detection, network performance management, quality management, and others. Based on end user, the market is categorized into cloud service providers, managed service providers, telecom providers, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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● Recent Partnership in the Network Analytics Market
On March 2023, IBM partnered with Nokia to help the growing sector so that enterprises can benefit from secure, customized connectivity services enabled by a highly available 5G cloud network.
On November 2023, Vodafone Group Plc partnered with CompanyX, to commercialize Vodafon’s shared operations to accelerate growth, enhance customer service, and drive significant efficiencies for Vodafone’s operating companies and partner markets, as well as create new career opportunities for its people.
● Recent Upgrade/Product Launch in the Market
On June 2023, Cisco launched the Networking Cloud Platform to simplify the management of networking gear through a single, common interface. The platform has been rolled out alongside enhancements to several of Cisco’s products, including ThousandEyes infrastructure monitoring service, and Catalyst portfolio.
● Recent Acquisition in the Market
On June 2023, Cisco acquired X’s network performance monitoring technology, to expand its portfolio for troubleshooting and fixing network problems that could degrade the quality-of-service carriers guarantee for private 5G networks and critical enterprise applications.
On March 2023, Hewlett Packard Enterprise acquired cloud security services provider Axis Security. The acquisition aimed at incorporating the Axis security service edge (SSE) platform into HPE’s edge-to-cloud network security capabilities to deliver integrated networking and security solutions as-a-service.
● Recent Collaboration in the Market
On February 2023, Juniper Networks, a leader in secure, AI-driven networks, announced the collaboration with IBM to pursue the integration of IBM’s network automation capabilities with Juniper’s Radio Access Network (RAN) optimization and Open Radio Access Network (O-RAN) technology.
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By region, North America garnered the highest share in 2022, holding more than one-third of the global network analytics market revenue in 2022, and is projected to retain its dominance by 2032, owing to increase in prevalence of cyber threats has made network security analytics. In addition, the deployment of 5G networks is driving the adoption of network analytics for optimizing performance, managing traffic, and ensuring seamless connectivity. The Asia-Pacific region is projected to portray the fastest CAGR of 23.5% during the forecast period, owing to the deployment and optimization of 5G networks, drives the adoption of analytics tools to enhance performance and support new applications. The region is witnessing a surge in cloud-native solutions, providing scalability and flexibility for evolving digital infrastructures.
The key players profiled in the network analytics industry analysis are Cisco Systems, Inc., Broadcom, IBM Corporation, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd., SAS Institute Inc, Telefonaktiebolaget LM Ericsson, Juniper Networks, Inc., and Ciena Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the network analytics industry.
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