Rising IoT applications driving the adoption rate of network traffic analyzer tools.
The growing use of smartphones, tablets, and the internet of things (IoT) has increased the networking infrastructures across the world. Further, with the launch of 5G technology, there will be exponential growth in the data in the future. The large amount of data generated by IoT creates huge network traffic. To manage and operate this data, enterprises are widely adopting network traffic analyzer tools. The rising usage of smartphones for online gaming and the increasing adoption of improved IT infrastructure in global IT companies will also drive the network traffic analyzer market.
Moreover, tech giants like Facebook, SpaceX, and Amazon are working on satellite internet services that can reach every corner of the globe. This will enhance the penetration of smartphones & tablets and will generate a huge amount of data. This, in turn, will require huge investment for building network infrastructure. It is anticipated that this will expand network traffic analyzer tools demand during the forecasted period. Additionally, the rising threat of malicious activity and banking Trojans is the biggest threat to online banking and financial institutions and their customers. To counter this threat and keep the network secure, there is an increasing demand for network traffic analyzers from BFSI industries. Growing demand from BFSI is driving the global market.
On the other hand, the global network traffic analyzer market is being adversely affected by the availability of network traffic analyzer tools. Overall, the global network traffic analyzer market was US$ 1.1 Bn in 2018 and is expected to reach US$ 3.0 Bn by 2027, growing at a CAGR of 11.1% from 2019 to 2027.
Market Snapshot
End-use Segment Analysis
BFSI segment accounted for the fastest growth rate.
Banking, Financial Services, and Insurance companies deal with the end customers who contribute to the revenue of the enterprises. However, BFSIs are majorly attacked by hackers with banking Trojans. A network breach for a small amount of time can cost huge losses to these enterprises. Hence, these enterprises need to monitor with a robust network infrastructure like network traffic analyzer tools. Moreover, BFSI enterprises are geographically located distant from each other and sometimes have to operate on different systems like hybrid-cloud systems. The growing threat from cyber-attackers pushed the BFSI enterprises to keep their data secure in real-time.
Regional Analysis
North America market dominating the world market.
North America has a highly developed IT infrastructure, and there is a high penetration of smartphones. Also, the U.S. and Canada are one of the first countries to have launched 5G technology. Also, the growing penetration of IoT devices is further contributing to regional market growth. Additionally, the region is home to a large number of market players such as Colasoft, Kentik, SolarWinds Worldwide, LLC, Cisco Systems, Inc., and Dynatrace LLC, etc. among others. In 2018, the North American network traffic analyzer market captured the largest share of the global market. Moreover, the region has a high growth potential during the forecast period.
Furthermore, Asia Pacific is estimated to be the fastest-growing region during the forecast period. Growing economies of China, Japan, India, Australia, and other ASEAN countries, along with rising penetration of internet services coupled with BFSI enterprises, are expected to drive the region with the highest CAGR during the forecast period.
Emerging partnership trend is keeping the market competitive.
The global network traffic analyzer market is highly competitive. Major players in the market are strategically performing mergers & acquisitions and increasingly investing in R&D to provide cost-effective solutions to clients. Some of the leading global players included in the reports are Colasoft (U.S.), Kentik (U.S.), NetVizura (Serbia), etc., among others. Following is the list of companies covered in the published report.
List of Companies Covered:
Colasoft
Kentik
Progress Software Corporation
Opmantek
Nokia
SolarWinds Worldwide, LLC
NetVizura
Plixer, LLC
Cisco Systems, Inc.
Dynatrace LLC
ExtraHop Networks
Sandvine
Manage Engine (Zoho Corp.)
Nagios Enterprises, LLC
LiveAction
NETSCOUT
and among others
Key Industry Development:
In February 2020, ExtraHop Networks launched ExtraHop® Reveal(x) Cloud™. This new capability provides 360-degree threat visibility, detection, and response across multi-cloud, data centers, and IoT deployments in single-hosted solutions. This helps accelerate the adoption of network detection & response within enterprises.
In November 2019, Sandvine announced a multimillion order from the European mobile network operator. Through this deal, Sandvine will provide analytics, network optimization, and revenue generation. With this deal, the company is expected to increase its European market share.
Historical & Forecast Period
The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Europe (U.K., Germany, France, and the Rest of Europe)
Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)
Rest of World (Middle East & Africa (MEA), Latin America)
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the global network traffic analyzer market. Additionally, the global report also comprises a graphical representation of a competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Unique data points of this report
Recent trends across different regions in terms of the development of the network traffic analyzer market
Attractive investment proposition for application segment as well as geography
Key questions answered in this report
What was the market size of the network traffic analyzer market in 2018, and what is the forecast up to 2027?
What are the key factors driving the global network traffic analyzer market?
What are the key market trends and high-growth opportunities observed in the network traffic analyzer market?
Which is the largest regional market for the network traffic analyzer market?
Which segment will grow at a faster pace? Why?
Which region will drive the market growth? Why?
Which players are leading the network traffic analyzer market?
What are the key strategies adopted by the leading players operating in the market?
Frequently Asked Questions:
The market for Network Traffic Analyzer Market is expected to reach US$ 3.0 Bn By 2027.
The Network Traffic Analyzer Market is expected to see significant CAGR growth over the coming years, at 11.1%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Colasoft, Kentik, SolarWinds Worldwide, LLC, Cisco Systems, Inc., and Dynatrace LLC are some of the major players in the global market.
