Key Trends and Growth Factors in the Network Traffic Analytics Market Size, Share, and Growth Prospects

Overview and Scope
Network traffic analytics refers to the process of evaluating, analyzing, and interpreting data traffic going across a computer network to acquire insight into network performance, security concerns, and user behavior. The goal of network traffic analytics is to improve network visibility, identify and prevent security breaches, optimize network performance, and enable informed decision-making.

Sizing and Forecast
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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Segmentation & Regional Insights
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

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.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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.

The network traffic analytics market report table of contents includes:

1. Executive Summary
2. Network Traffic Analytic Market Characteristics
3. Network Traffic Analytic Market Trends And Strategies
4. Network Traffic Analytic Market – Macro Economic Scenario
5. Global Network Traffic Analytic Market Size and Growth
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32. Global Network Traffic Analytic Market Competitive Benchmarking
33. Global Network Traffic Analytic Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Network Traffic Analytic Market
35. Network Traffic Analytic Market Future Outlook and Potential Analysis
36. Appendix

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