Kenneth Research, in its repository of market research reports, has recently added a report on Network Analytics Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Network Analytics Marketis anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Network Analytics Market products.
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Global Network Analytics Market
By End User (Communication Service Providers, Cloud Service Providers), Organization Size (Large Enterprises, Small and Medium Organizations), Component (Solution, Services), Deployment Model (Cloud, On-premise), and Regional Market Size, Status and Forecast to 2025
The Global Network Analytics Market was valued at USD 976.90 million in 2016 and is projected to reach USD 7,133.90 million by 2025, growing at a CAGR of 24.85% from 2017 to 2025.
Network analytics provides operators and enterprises with a deep understanding of the network, enabling smarter, data-driven decisions. With Network Analytics, business analysts gain access to information and data. With this actionable insight in-hand, network operators can define and implement network policies to make data-driven decisions that achieve business and operational objectives to increase revenue and decrease costs. Network analytics is used by organizations to monitor their networks for packet inspection and analysis, security intrusion and attack detection, intelligence gathering, application performance management, and more.
1. Market Drivers
1.1 Need of real-time network analytics
1.2 Increasing number of mobile users across emerging economies
1.3 Increasing demand for quality of experience maintenance
1.4 Rising need for automation and virtualization
1.5 Need for customer data enrichment
2. Market Restraints
2.1 Concerns for data security and privacy
2.2 Lack of technical expertise
2.3 Requirement of design and up gradation platform
2.4 High initial costs and lower return on investment
The Global Network Analytics Market is segmented on the end user, organization size, component, deployment model, and region.
1. End User:
1.1 Communication Service Providers
1.1.1 Satellite Services
1.1.2 Telecom Services
1.1.3 Internet Services
1.2 Cloud Service Providers
2. Organization Size:
2.1 Large Enterprises
2.2 Small and Medium Organizations
3. By Component:
3.1.1 Network Intelligence Solution
3.2.1 Managed services
3.2.2 Professional services
4. By Deployment Mode:
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. Accenture PLC
3. Cisco Systems, Inc.
4. Brocade Communications Systems, Inc.
5. Bradford Networks
6. Juniper Networks
8. Tibco Software
9. SAS Institute, Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Network Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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