"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. 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 service 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$ 1.41 Bn in 2021 and expected to reach US$ 3.8 Bn by 2030, growing at a CAGR of 9.5% from 2023 to 2030.
"BFSI segment accounted for the fastest growth rate"
Banking, Financial Services, and Insurance companies are dealing with the end customers who contribute to the revenue of the enterprises. However, BFSIs are the 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 the 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 the 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 launch 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 America 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 is 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 of the market are strategically performing merger & acquisition, and increasingly investing in R&D to provide cost-effective solutions to the 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:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Network Traffic Analyzer market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Billion |
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Region Segment (2022-2032; US$ Billion)
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Key questions answered in this report
