Ocean View, DE -- (SBWire) -- 04/24/2020 --In this age of technology, increased accessibility to the internet has dictated the augmentation of the network traffic analytics market for monitoring and managing traffic, across different platforms in several consumer driven industry verticals. Traffic analysis is crucial in gaining detailed insights into the type of data that is flowing through a network, so as to have a better understanding of a business' network utilization, connection speeds and the type of data packets. Providing the origin and destination of a transaction enables an enterprise's IT system to identify any suspicious data packet, promoting the utility of the network traffic analytics industry. With the growing frequency of cyberattacks threatening to disrupt operations and data security in major organizations, the network traffic analytics market will experience a tremendous uplift through enhanced network monitoring solutions.
Key Companies: - Accenture, Allot,Ascom Holding AG, Cisco, Huawei Technologies, IBM, Juniper Networks, Microsoft, Nokia, Palo Alto Networks, SolarWinds, Symantec
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SaaS-based solutions are being vigorously adopted by consumers due to various desirable credentials such as enhanced scalability & administration, improved security, convenience of data storage, and improved productivity. Moreover, timely upgradations without additional capital expenditure, help enterprises safeguard themselves from cyberattacks, which is a key factor impacting network traffic analytics market outlook.
In 2017, the on-premise model accounted for the largest global share with a valuation of USD 670.1 Mn. The on-premise deployment model is highly preferred among end users as they provide high degree of data protection and ensure regulatory compliance. Additionally, the model allows reduction in latency and maintenance of peak performance due to which they are being progressively implemented by enterprises.
Network security solutions in network traffic analytics market is witnessing a widespread demand and is anticipated to expand at the fastest CAGR of 24.1% over 2018-2024. Enactment of various cybersecurity regulations in numerous countries along with growing severity of cyberattacks is boosting the network traffic analytics market outlook.
Consulting services are also gaining major traction in network traffic analytics services market. Consulting services perform an array of diversified functions throughout a product's lifecycle, which comprises finding network vulnerabilities, managing cybersecurity, identifying & evaluating threats, and others.
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The AI network analysis solution identifies the initial point of infection, movement within system, along with every system that has been compromised by an attack, internal communication or external outflow of data. Lastline's product can be expected to reinvigorate the network traffic analytics market competition, as it is more accurate and efficient in making threats visible than manual monitoring, which can be affected by lack of experience and the load of a large IT network. All in all, the global network traffic analytics market, estimated to register a 20% CAGR from 2018-2024, will witness enormous growth from advanced traffic monitoring solutions.
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Network Traffic Analytics Market 2020 Growth Projection by Key Companies: Accenture, Allot, Ascom Holding AG, IBM, Juniper Networks, Nokia, Palo Alto Networks, Symantec
Network security solutions in network traffic analytics market is witnessing a widespread demand and is anticipated to expand at the fastest CAGR of 24.1% over 2018-2024