Network Traffic Analytics Market Accelerate at 17.4% CAGR, $3,106 Million Incremental Growth Expected During Forecast
WILMINGTON, DE, UNITED STATES, April 26, 2024 /EINPresswire.com/ — The global network traffic analytics market size was valued at $865 million in 2018, and is projected to reach $3,106 million by 2026, registering a CAGR of 17.4% from 2019 to 2026.
Asia-Pacific is projected to generate the highest growth rate during the forecast period, owing to ever-growing penetration of smartphones and internet users in this region. In addition, an increase in overall disposable income of people in Asian countries, such as China, Japan, and India, is also fostering people to use advanced technologies, such as connected devices, Internet of Things (IoT), and cloud computing.
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The network traffic analytics (NTA) market is witnessing significant growth driven by several key factors. The increasing need for real-time analysis of network data, coupled with the adoption of advanced technologies, is driving demand for NTA solutions. Additionally, the rise in Distributed Denial-of-Service (DDoS) attacks is prompting organizations to invest in NTA tools to enhance their network security posture and mitigate potential threats.
However, despite the growing demand for NTA solutions, the market faces challenges related to the accessibility of free network traffic analysis tools. This accessibility to free tools is restraining market growth to some extent as organizations may opt for these alternatives instead of investing in premium NTA solutions.
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Nevertheless, the advent of 5G technology presents a significant opportunity for the NTA market in the coming years. With the widespread deployment of 5G networks, the volume and complexity of network traffic are expected to increase substantially. This surge in network traffic will necessitate advanced analytics solutions to monitor, analyze, and secure network infrastructure effectively.
Overall, the network traffic analytics market is poised for growth driven by the increasing demand for real-time data analysis, advancements in technology, and the evolving threat landscape. While challenges such as accessibility to free tools may pose temporary hurdles, the opportunities presented by 5G technology are expected to fuel market expansion in the foreseeable future.
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By region, North America dominated the global market in 2018 and is expected to remain dominant during the network traffic analytics market forecast period due to presence of major market players such as Microsoft, IBM, Cisco, in the region. In addition, increase in adoption of the network traffic analytics solutions among the users is also contributing to the growth in this region.
Some of the key players in network traffic analytics market analysis include Juniper Networks Inc., Symantec, Juniper Networks, IBM Corporation, Huawei Technologies Co. Ltd., Cisco Systems Inc., Allot Communication, Ascom Holdings and Nokia Networks.
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