The Global Network Analytics Market to Reach a Revenue of $4.77 Billion by 2024
Bangalore, India, September, 2018: With its recent published study “Network Analytics Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts the global market for Network Analytics will continue to grow. The growing number of connected devices and consequent increase in network load, has put tremendous strain on existing network. Subsequently, increasing software-defined network architecture has bolstered the growth of network analytics solutions. This has enabled network administrators to remotely monitor network traffic flow and mitigate risks from network breaches.
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There is a huge amount of data which is generated by smart devices and sensors which can be used to gain actionable insights and real-time visibility. By using these insights, network operators can achieve business objectives by making data driven decisions to increase revenue and decrease operational costs. With growing network traffic, the need for a network provider to understand network traffic and to ensure the best services being provided has also increased. Network analytics solutions analyses huge volume of data in real time and enables network operators in identifying issues and anomalies within the network. Network analytics provides a multidimensional and predictive view of the network which improves network performance, identifies root cause analysis, and performs traffic engineering.
North America is projected to hold the largest share of the network analytics market throughout the forecast period. The presence of high number of network analytics solution providers in the North American region, contributes to over 40% of the overall market share. Moreover, the region has the highest propensity of technology adoption, contributing to almost 40% of the global enterprise digital transformation market spend.
The market in the APAC region is expected to witness a high growth, given the increasing requirement of TSP’s and CSP’s for network control and optimization. Over the past few years, the region has witnessed an exponential increase in the smartphone market and currently holds the highest market share. Thus, the increasing pressure on service providers to enhance service quality and mitigate risk from increasing security breaches and DDoS attacks, such as ransomware are some of the factors driving the growth of the market in this region.
“Effective management of network data (network incident logs) is essential to meet the increasing demands for better user experience. As this data increases in size and complexity, network providers require advanced analytics tools to ingest this data and derive actionable insights to deliver superior service assurance. Moreover, this network analytics tool helps the network service providers in optimizing network operations by enabling real-time anomaly detection from internal and external entities. Subsequently, this reduces mean time to know (MTTK) and mean time to repair (MTTR) for any network issues.” — Sonam Chawla, Research Analyst at Infoholic Research
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The report aims to highlight key insights from service providers, verticals, and stakeholders. The report covers the current scenario and the development prospects of the network analytics market during the forecast period 2018–2024. It also provides an in-depth analysis and forecast of the industry covering the following key features:
- The report not only highlights the challenges associated with the network analytics market, but it also brings in the major vendors investing in this space to alleviate these challenges.
- The report is analyzed based on offerings, applications, end users and regions.
- The report covers the evolution of smart features, advantages, and importance of technology in terms of future perspective.
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period (2018–2024).
- The report contains an analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategies and competitive landscape, which includes vendor assessment.