Network analytics: Key market research findings
- Rise in adoption of BYOD policy drives market growth
- Increase in adoption of SaaS-based network analytics solutions
- Key vendors – Accenture, Cisco, HP, IBM, Juniper Networks, and SAS Institute
Technavio’s market research analysts predict the global network analytics market to surpass $2 billion between 2016 and 2020. The market growth is driven primarily by the increasing adoption of bring your own device (BYOD) policy. The need for employee mobility in businesses is resulting in the widespread adoption of BYOD policy across various organizations. In order prevent unscrupulous activities and the misuse of critical business data, enterprises are adopting network analytics solutions to ensure access to confidential information. During 2015, the Americas dominated the global network analytics market by occupying almost 50% of the market space. The availability of scalable IT infrastructure, increased use of technology among enterprises, and rising occurrences of cyber attacks and malware in the region are some of the factors that are likely to boost growth in the network analytics market in Americas over the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the network analytics segments based on end-user.
“The emergence of software as a service (SaaS)-based network analytics solutions is the latest trend in the global network analytics market. SaaS-based network analytics solutions automatically update products, enabling organizations to respond to the up-to-the-minute security threats. The growing requirements of organizations, small and large, is augmenting the demand for SaaS solutions. Hence, the increased adoption and demand for cloud computing solutions is causing a transition from conventional network analytics software to SaaS-based network analytics solutions,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
Currently, the telecommunications sector accounted for almost 25% of the overall market share to become the dominant shareholder in the global network analytics market. The demand for network analysis in the telecommunications sector stems from mobile network operators, network equipment manufacturers, mobile virtual network operators, and wholesale access providers. For several network operators, the growing adoption of mobile internet use is boosting the revenue generation and expanding their market share.
The key players in the market include Accenture, Cisco, HP, IBM, Juniper Networks, and SAS Institute. The global network analytics market is in its growth phase. Competition is expected to intensify along with an increase in product and service extensions, innovations and M&As. Vendors have to develop new technologies and stay abreast of market developments to remain competitive.
A more detailed analysis is available in the Technavio report, Global Network Analytics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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