Transparency Market Research states that the competitive landscape in the global network traffic analysis solutions market highly fragmented due presence of several players. However, several vendors are try to develop foolproof cloud solutions to remain on top of their game. The key players in the global market are Netmon Inc., Genie Networks, Flowmon Networks, NetScouts, and ManageEngine. Focus on catering to BFSI and healthcare segment is expected to be the winning strategy of these players in the near future.
According to the research report, the global network traffic analysis solutions market is expected to reach a valuation of US$4,985.2 mn by the end of 2025. During the forecast years of 2017 and 2025, the global market is expected to surge at a remarkable CAGR of 16.1%. Out of all the industrial verticals, the banking, financial services, and insurance (BFSI) sector is expected to do well in the coming years. The need for better security and swift transactions is expected to propel this segment. In terms of geography, Asia Pacific is expected to dominate the global market as emerging economies will create multitude of opportunities for the uptake of network traffic analysis solutions. This regional market is estimated to rise at a CAGR of about 18% during the forecast years.
Need for Smoother and Safer Operations Increases Demand for Network Traffic Analysis Solutions
Network traffic analysis solutions plays an important role in gaining insights about availability of bandwidth and its distribution. This allows end users to identify threats, which can be thwarted using denial of service (DoS) and zero-day attacks to ensure smoother operations. This in turn leads to prioritizing of traffic and eliminating the chances of overload. Deployment of network traffic analysis also helps in improving performance by highlighting congestion sources, network congestion points, and optimization of packet routes. Better performance in turn leads to a reduced or an optimized operational cost and effective management of resources. In light of all of these reasons, various industrial verticals across the globe are making investments in network traffic analysis solutions.
Growth in the number of connected smart devices and increasing IT security budget are expected to be major drivers of the market’s growth. The market is also expected to receive push from the advancement in the cyber security field and also the growing number of smart city projects. Migration towards cloud is also expected to boost the market’s growth. The accelerated usage of cloud computing, big data, and mobility services are collectively expected to have a generous contribution to the rise of the global network traffic analysis solutions market. The ability to allow real-time traffic monitoring in addition to identifying security breaches will continue to be the unique selling point for several vendors.
Rising Popularity of BYOD to Restraint Global Market
However, the market growth is expected to be hindered by the concerns over data security due to vulnerable networks with infrequent security updates. Careful scrutiny of packets on networks allows intruders to retrieve sensitive information that could harm organization. Moreover, the market is expected to face restraint due to the BYOD (Bring Your Own Device) movement gaining momentum. These factors are likely to act as restraints to the global network traffic analysis solutions market in the coming years.
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