Network Analytics Market Projected to Gain $3.6 billion by 2024

According to a research report the Network Analytics Market by Component (Network Intelligence Solutions and Services), Application (Network Performance Management, Customer Analysis, and Quality Management), Deployment Type, Organization Size, End-User, and Region – Global Forecast to 2024″, published by MarketsandMarkets, the Network Analytics Market is expected to grow from USD 1.4 billion in 2019 to USD 3.6 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period. Major factors expected to drive the growth of the network analytics market include addressing of network complexity arising due to the advent of new technologies, such as 5G, IoT, and cloud; increase in data volume and changes in traffic patterns, and rise in SDN integration with existing network infrastructures.

Browse 111 market data Tables and 44 Figures spread through 164 Pages and in-depth TOC on “Network Analytics Market – Global Forecast to 2024”

The global Internet protocol (IP) traffic is considered to be increase double in the nearer future. The subscriber’s base is also expected to increase due to increase in population and rising per capita income in the developing countries. But, the revenue growth for the service providers is slow down due to mature markets where increasing mobile data revenues could hardly offset the revenues for voice services. As this growing demand with shrinking revenue growth and profit margin is not sustainable in term, service providers are seeking to simplify the operations to reduce cost. Nowadays service providers are more focused on analyzing the network traffic to anticipate the customer demands in advance. Most of the large enterprises, as well as SMEs, are requiring VoIP and video conferencing for business purposes. Thus, the telecom operators and internet & cloud service providers are reeling under the pressure of intelligently managing network complexities which are created by converged services, with the help of network analytics solutions and services.

Cisco (US) is one of the leading vendors of designing, manufacturing, and selling networking equipment. The company earns the highest share of its revenue from hardware products, although it is focusing on enhancing its software portfolio for the past few years. The company has been consistently spending approximately 12% of its annual revenue on R&D activities to improve its product and service portfolio. Cisco’s plethora of networking products and services provides automation, analytics, and intelligence to the networks, which helps in predicting, analyzing, and mitigating risks and threats in the enterprise’s networks. The company is seen adopting inorganic growth strategies, such as mergers and acquisitions. In February 2019, Cisco completed the acquisition of Singularity Networks, a network infrastructure analytics company. This acquisition will help Cisco provide improved network performance, cost efficiency, more visibility, and less downtime to its clients. Also in February 2019, Cisco completed the acquisition of Luxtera, a privately held semiconductor company. This acquisition will enable Cisco to improve its network performance while lowering costs.

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IBM (US) is one of the key players in the network analytics market and provides a comprehensive range of solutions. The company is focused on product innovations and assigns a high budget for R&D. The company’s R&D expenditure consistent during last 3 years, it invested approximately 7% of its annual revenue in R&D. In addition to this, the company has a vast partner ecosystem, consisting of resellers, Managed Service Providers (MSPs), alliance partners, embedded system partners, and distributors, who help the company deliver efficient and cost-effective solutions to its global customers. In July 2018, IBM partnered with NETSCOUT, a provider of application and network performance management products, to integrate network analytics tools into IBM’s telecommunications analytics suite, thus helping IBM to enhance the quality of customer insights. Also in July 2018, IBM partnered with Juniper, a provider of networking and cybersecurity solutions, to build a network with predictive analytics. This will help the organization to gain real-time customer behavior insights, which will be useful in providing improved mobile experiences and address increasing IoT application demands.

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