Network Analytics Market Size, Share, Revenue, Trends And Drivers For 2024-2033

The Business Research Company's Network Analytics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The network analytics market has witnessed substantial growth, with its size increasing from $3.64 billion in 2023 to $4.49 billion in 2024, at a remarkable compound annual growth rate (CAGR) of 23.3%. It will grow to $10.49 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. This growth in recent years can be attributed to factors such as increasing network complexity, rising cybersecurity concerns, the need for operational efficiency, and regulatory compliance requirements.

Emerging Trends Driving Market Growth
The network analytics market is projected to continue its exponential growth trajectory, reaching $10.49 billion by 2028, with a CAGR of 23.6%. This forecasted growth is driven by the adoption of artificial intelligence (AI) and machine learning (ML), the expansion of edge computing, the rapid growth of SD-WAN and cloud adoption, and the escalating demand for predictive insights. Key trends expected in this period include the adoption of AI and ML for enhanced analytics, a shift towards cloud-native solutions, increased focus on security analytics, convergence of network and application performance analytics, and advancements in 5G networks.

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Addressing Cybersecurity Challenges
The escalating sophistication of cyber threats remains a significant driver for the network analytics market. Cyber threats, which encompass malicious activities targeting computer systems and networks, have become more prevalent due to technological advancements and increased connectivity. Network analytics plays a crucial role in mitigating these threats by providing real-time monitoring, detection, and analysis of network traffic patterns. For instance, according to the Australian Cyber Security Centre, there was a 13% increase in cyberattack reports in 2022 compared to the previous year, highlighting the growing need for robust network analytics solutions.

Key Players and Innovations
Major companies in the network analytics market are actively developing innovative products such as advanced network analytics tools to enhance network performance, security, and efficiency. For example, LM Ericsson launched a cloud-native network analytics tool aimed at improving transport network performance through real-time visibility, data analysis, and intelligent automation.
Key players shaping the market include Dell Technologies, Huawei, Accenture PLC, IBM Corporation, Cisco Systems Inc., Broadcom, Hewlett Packard Enterprise Company, and others. These companies are focusing on continuous product innovation and strategic partnerships to strengthen their market position and cater to evolving customer demands.
Market Segmentation
The network analytics market is segmented based on:
• Component: Network Intelligence Solutions, Services
• Deployment: Cloud, On-Premise
• Enterprise Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
• Application: Customer Analysis, Risk Management, Fault Detection, Network Performance Management, Quality Management, and Other Applications

Regional Insights
In 2023, North America dominated the network analytics market, driven by technological advancements and early adoption of analytics solutions. Meanwhile, Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by rapid digital transformation initiatives and increasing investments in IT infrastructure.

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Network Analytics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Network Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on network analytics market size, network analytics market drivers and trends, network analytics market major players, competitors' revenues, market positioning, and market growth across geographies. The network analytics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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