The network analytics market was valued at USD 1803.52 million in 2020, and it is expected to reach USD 5456.35 million in 2026, registering a CAGR of 20.12% over the forecast period (2021 - 2026). The network analytics market is set to witness a significant growth rate in the near future, owing to the increasing need for autonomous and self-managing networks.
- The global IP traffic is expected to increase exponentially in the upcoming years, as network communications are becoming an essential component of multiple business models for present dayâ€™s communication companies.
- Hence, it is necessary to improve the network reliability and eliminate disruptions. Increasing adoption of network analytics by cloud service providers (who are facing challenges in maintaining service level agreement (SLA) standards and coping with the top-class quality service and quality of experience (QuE) parameters) is expected to boost the adoption rate of network analytics.
- With the growing adoption for IoT and emergence of Industry 4.0, the number of interconnected entities is expected to grow steeply, leading to the generation of extensive amounts of network data.
- Additionally, network analytics may become more important and broadly deployed, as network security has become more critical on priority basis across any organization.
Key Market Trends
Communication Service Providers Segment is Expected to Witness a Significant Growth
- The telecom industry is leading the market, in terms of the adoption rate of network analytics. Growth in the mobile industry has been dramatic by virtually any measure, and despite some reports of a slowdown, it is still expected to rise.
- The advent of 5G network, coupled with increasing penetration of smartphones, promises to lead to an enormous wave of data traffic. The signs of 5G that demand more speed, greater efficiency, and less latency may be essential to support the connected things in future.
- Telecom organizations are depending on terabytes of data that are being generated and stored in silos and scattered across the business ecosystem. However, for simpler and faster processing of only relevant data, telecom companies need an advanced analytics-driven data solution, which may help them to achieve timely and accurate insights.
- Telecom operators that want to be innovative and maximize their revenue potential must have the right solution at the right place and right time, so that they can control the volume, variety, and velocity of data coming into their organization and leverage on actionable insights obtained from that data.
North America is Expected to Lead the Market
- The region is expected to occupy the largest market share, but is expected to show a moderate growth rate, due to the early adoption of network analytics by the leading players in the region.
- Availability of technology and infrastructure, increased cyber-malware attack on the networks in the region, and higher technology adoption rate are expected to contribute to the growth of the market in the region. Additionally, the region has the worldâ€™s leading telecom companies, like AT&T and Verizon, who are employing network analytics, extensively.
- Furthermore, the region, especially the United States, is seeing a rise in the number of cloud-based analytics startups focused on network analytics. This is expected to help maintain the regionâ€™s dominance in the upcoming years.
The network analytics market is neither a highly competitive market nor has limited number of players present in the market.
Sep 2017 - IBM and VMware announced that more than 1,400 enterprises are incorporating their cloud-based analytics services, IBM Cloud. To take their partnership further, IBM is launching network control and visibility solutions from F5 Networks and Fortinet.
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