Market Size of Network Analytics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 20.12 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Network Analytics Market Analysis
Over the next few years, the market for network analytics is expected to register a CAGR of 20.12%.It is mainly due to the increasing need for autonomous and self-managing networks.
- Global IP traffic is expected to increase exponentially in the coming years as network communications become an essential component of multiple business models for present-day communication companies. Hence, it is necessary to improve network reliability and eliminate disruptions, facilitating the overall growth of the market's growth opportunities throughout the forecast period.
- Also, as the Internet of Things (IoT) and Industry 4.0 become more popular, the number of connected things is expected to grow quickly, which will cause a lot of network data to be made.Also, the increasing adoption of network analytics by cloud service providers facing challenges in maintaining service level agreements (SLAs) and coping with top-class quality service and quality of experience (QoE) parameters is expected to boost the adoption rate of network analytics. Additionally, network analytics is expected to become more important and broadly deployed as network security has become more critical on a priority basis across any organization.
- Furthermore, the market is witnessing various strategic mergers, partnerships, acquisitions, etc. For instance, in December 2022, Nokia expanded its partnership with BT in a five-year deal to provide its AVA Analytics software for fixed networks, which would further help the British telecom operator strengthen its overall network monitoring through machine learning (ML) and artificial intelligence (AI). The new deal would enhance Nokia's dashboard solution, 'Homeview," for BT, providing its call center agents a real-time, complete view of the operator's network, from subscribers to devices, to quickly correct the various access and in-home issues.
- However, factors like the involvement of high initial costs and low ROI, as well as the rise in the complexities involved in designing and upgrading platforms, might restrain the overall market's growth throughout the forecast period.
- The COVID-19 pandemic caused a big social and economic problem, which caused thousands of businesses around the world to temporarily fail and close. Businesses were forced to make big changes to how they ran, such as laying off workers and offering a wider range of products and services. To deal with these changes quickly, companies used agile risk management, AI systems, and data analytics as part of their business intelligence strategies to help them make better decisions and improve business operations.
