Challenges and Forecast for Network Traffic Analytics Market Expansion

 

The network traffic analytics global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Network Traffic Analytics Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -
The network traffic analytics market size has grown rapidly in recent years. It will grow from $2.92 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth in the historic period can be attributed to rise in cyber threats and security breaches, rise in remote work and telecommuting, demand for network forensics capabilities, rise in distributed denial-of-service (DDoS) attacks, demand for network traffic data retention and analysis.

The network traffic analytics market size is expected to see rapid growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to increased adoption of cloud-based solutions, need for network performance optimization, increased focus on user behavior analytics (UBA), growing demand for real-time monitoring, demand for predictive analytics capabilities. Major trends in the forecast period include expansion of IoT devices and networks, expansion of network segmentation strategies, expansion of hybrid cloud environments, migration to software-defined networking (SDN), integration of network traffic analytics with endpoint security solutions.

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Scope Of Network Traffic Analytics Market
The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Network Traffic Analytics Market Overview

Market Drivers -
The rise in cyber threats and security breaches is expected to propel the growth of the network traffic analytics market going forward. Cyber threats refer to malicious activities targeting digital systems, while security breaches involve unauthorized access or compromise of sensitive information, posing risks to individuals, organizations, or governments. Cyber threats and security breaches increase due to the growing reliance on digital technologies, expanding attack surfaces, evolving tactics of cybercriminals, and inadequate cybersecurity measures. Network traffic analytics is essential in cybersecurity as it offers real-time insights into network behavior, detects anomalies, and identifies potential security threats. These tools help organizations improve their cybersecurity defenses by providing early threat detection, incident response capabilities, attack attribution evidence, and insights into weaknesses inside the network infrastructure. For instance, in January 2024, according to a report published by the Identity Theft Resource Center (ITRC), a US-based non-profit organization, the number of data compromises in 2023 reached the figure of 3,205, increased by 78% compared to 2022 (1,801), and was 1,345 more than the previous high in 2021. Therefore, the rise in cyber threats and security breaches is driving the growth of the network traffic analytics market.

Market Trends -
Major companies operating in the network traffic analytics market are focusing on developing technologically advanced solutions, such as network detection and response platforms (NDR), to gain a competitive edge in the market. A network detection and response platform is a cybersecurity solution that continuously monitors network traffic to identify cyber threats and anomalous behaviors across an organization's network. NDR solutions analyze raw network traffic logs to properly identify risks, providing early detection to prevent attacks before they cause major damage. For instance, in January 2022, LiveAction, a US-based provider of IT network performance management, visualization, and analytics software, launched ThreatEye NV, a network detection and response platform that delivers complete encrypted traffic analysis and visibility. This solution combines next-generation data gathering, advanced behavior analysis, and streaming machine learning to provide SecOps teams with unparalleled visibility into encrypted traffic, threats, and network anomalies. The platform uses Deep Packet Dynamics (DPD), which eliminates the need for payload inspection, to evaluate over 150 packet attributes and behaviors across multi-vendor, multi-domain, and multi-cloud network environments.

The network traffic analytics market covered in this report is segmented –

1) By Component: Solution, Services
2) By Deployment Type: On-premise, Cloud
3) By Organization Size: Small And Medium-sized Enterprises, Large Enterprise
4) By End User: Service Providers, Enterprises, Data Center

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Regional Insights -
North America was the largest region in the network traffic analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network traffic analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -
Major companies operating in the network traffic analytics market are Microsoft Corporation, Dell Inc., Huawei Technologies Co. Ltd., Accenture Plc, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Nokia Corporation, Palo Alto Networks Inc., Juniper Networks Inc., Arista Networks Inc., Splunk Inc., Check Point Software Technologies Ltd., McAfee Corp., Trend Micro Incorporated, NEC Corporation, NetScout Systems Inc., FireEye Inc., SolarWinds Corporation, Rapid7 Inc., Qualys Inc., Darktrace, Allot Ltd., Ascom Timeplex, ExtraHop Networks Inc.

Table of Contents
1. Executive Summary
2. Network Traffic Analytics Market Report Structure
3. Network Traffic Analytics Market Trends And Strategies
4. Network Traffic Analytics Market – Macro Economic Scenario
5. Network Traffic Analytics Market Size And Growth
…..
27. Network Traffic Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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