PUBLISHER: Grand View Research | PRODUCT CODE: 1363491
PUBLISHER: Grand View Research | PRODUCT CODE: 1363491
The global network analytics market size is projected to reach USD 13.06 billion by 2030, growing at a CAGR of 19.0% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc.. The increasing adoption of cloud computing techniques with widespread applications across various sectors is expected to accelerate demand for the market. The adoption of network solutions can prevent potential deployment issues and infrastructure delays. The increasing demand for network optimization is expected to drive the market growth over the forecast period. This can be attributed to the upgradation of technologies, increasing network traffic, and low business risk factors. Cloud service and enterprise providers are in the initial stage of deploying network analytics solutions to track their networks, which is expected to influence the market worldwide positively.
Network analytics solutions are primarily deployed in sectors such as healthcare, cloud service providers, BFSI, and telecom. Prolific advancements in telecom service offerings over the years have extensively influenced the user experience. Telecom analytics provides technology solutions and large-scale analytical models to analyze the entire system scenario through network analytics for communication service providers (CSPs). Targeted marketing, increased network traffic, and quality of experience (QoE) maintenance are some of the factors expected to drive the market growth.
The increasing complexity of networks is a direct result of various technological advancements and shifts in the way organizations operate. This complexity is driven by the integration of cloud services, the proliferation of Internet of Things (IoT) devices, and the adoption of hybrid infrastructures. Therefore, managing and monitoring these intricate environments has become a significant challenge for businesses. In essence, as networks continue to evolve and become more intricate due to cloud services, IoT adoption, and hybrid infrastructures, the need for network analytics becomes paramount. These tools empower organizations to proactively manage their networks, optimize performance, enhance security, and ensure smooth operations in the face of complexity.