Global Network Traffic Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Deployment(On-premise, Cloud) - Industry Forecast 2024-2031

The Global Network Traffic Analytics Market size was valued at USD 2.99 billion in 2022 and is poised to grow from USD 3.28 billion in 2023 to USD 6.88 billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).

Modern network management and cybersecurity heavily rely on the quickly developing industry for network traffic analytics. It entails the observation, evaluation, and interpretation of network data in order to learn more about user behavior, security risks, and network performance. The proliferation of connected devices, the growing complexity of networks, and the rise in cyberthreats are driving this market's growth.

The increasing demand for efficient network security and monitoring solutions is one of the main factors propelling the market for network traffic analytics. Due to the rapid increase in data traffic and the usage of cloud services, businesses are looking for cutting-edge tools to guarantee peak network performance and to identify and stop security breaches. Organizations can detect and lessen possible dangers with the use of network traffic analytics, which offers real-time visibility into network operations.

The development of machine learning (ML) and artificial intelligence (AI) technology in network traffic analytics is another motivating driver. These technologies make it possible to foresee future network problems or security breaches, identify anomalies quickly, and automate analytic operations. The growing number of Internet of Things (IoT) devices, which produce enormous volumes of data and need for advanced traffic analysis tools to manage and secure these many endpoints, is also helping the industry.

Additionally, regulatory compliance requirements in a number of industries, including telecommunications, healthcare, and finance, have an impact on the market for network traffic analytics. Strong security measures and continuous monitoring are required by these requirements in order to guarantee data privacy and defend against online dangers. Because of this, companies are spending money on sophisticated network traffic monitoring tools in order to comply with regulations and protect confidential data.

The market for network traffic analytics is expected to develop significantly overall because of the growing need for effective network management, cybersecurity, and adherence to data protection laws. Complex networks and ongoing technological advancements will increase demand for advanced traffic analytics systems.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Network Traffic Analytics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Network Traffic Analytics Market Segmental Analysis

There are five distinct segments in the global network traffic analytics market: component, deployment, organization, end-user, and region. The market is divided into software and services segments based on the component. The market is divided into On-premise and Cloud segments based on deployment. The market is divided into three categories: large enterprises, small enterprises, and medium-sized enterprises. The market is divided into three segments based on end-users: data centers, enterprises, and service providers. The market is divided into four regions: North America, Europe, Asia Pacific, and LAMEA.

Drivers of the Global Network Traffic Analytics Market

Network traffic analytics solutions are being adopted by enterprises in order to detect and prevent potential breaches as a result of the increasing sophistication and frequency of cyberattacks.

Restraints in the Global Network Traffic Analytics Market

Network traffic analytics system implementation can be difficult and resource-intensive, requiring large time and financial commitments.

Market Trends of the Global Network Traffic Analytics Market

Growing Need for Cybersecurity Solutions: As cyberattacks become more frequent and sophisticated, businesses are putting more effort into strengthening their defenses against them. Through the monitoring of network activity, the detection of anomalies, and the provision of real-time insights into potential breaches, network traffic analytics systems are essential in the identification and mitigation of potential risks.