The market for Network Traffic Analyzer Market is expected to reach US$ 3.0 Bn By 2027.
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.
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.
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.
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.
ATTRIBUTE DETAILS
Research Period 2017-2027
The base Year 2018
Forecast Period 2019-2027
Historical Year 2017
Unit USD Billion
Segmentation Component Segment (2017-2027; US$ Bn)
Deployment Model Segment (2017-2027; US$ Bn)
End-user Segment (2017-2027; US$ Bn)
Geography Segment (2017–2027; US$ Bn)
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.
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.