Network Traffic Analytics Market Trends
Growth Drivers
- Rising Demand for Real-Time Network Data Analytics- Every day, a vast amount of new content is added to the internet. This data contains company information as well as images and videos streaming on comparable websites like Instagram and YouTube. The global popularity of social media platforms like Facebook, Instagram, Twitter, and Snapchat is driving up demand for real-time network data analytics. This sector is being driven by the widespread use of the Internet.
- Increasing Use of Cutting-Edge Technology- Network bandwidth utilization and network performance have been controlled and optimized by several IT professionals and businesses using network traffic analytics tools. However, as more companies use IoT, AI, cloud computing, and more internet access, data traffic is surging. Enterprise infrastructure is also becoming digital as a result of the widespread use of these cutting-edge technologies, which in turn leads to a surge in cybercrimes and makes it feasible for hackers to steal important data.
- The Arrival Of 5G Technologies- With the implementation of next generation wireless network 5G, it is projected that the bandwidth produced by the Internet of Things would increase dramatically. Users of mobile devices like smartphones will be able to explore online services considerably faster due to a projected increase in the speed at which data can be delivered, according to another forecast based on assumptions about the future. Additionally, it will substantially lower overall latency, allowing for uninterrupted streaming of video and other content. This is because the total latency will be reduced.
Challenges
- Issues Dealing with Large Amounts of Data – There is a requirement for petabytes or terabytes of storage while dealing with complex, and large amounts of data
- Impending Lack of Sufficient Understanding
- Expensive Prices of Solutions for Network Traffic Analytics
Network Traffic Analytics Market: Key Insights
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
10.90% |
|
Base Year Market Size (2024) |
USD 3.44 billion |
|
Forecast Year Market Size (2037) |
USD 13.2 billion |
|
Regional Scope |
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