DUBLIN, June 21, 2019 /PRNewswire/ -- The "Network Traffic Analysis Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Global Network Traffic Analysis Market is estimated to have a CAGR of 13.87 % over the forecast period (2019-2024)
Network administrators are facing with a dynamic environment, owing to the rising number of system applications and an increasing amount of mobile end devices that are often employee-owned (BYOD), amount of transferred data in corporate and WAN networks, with data rates of up to ten gigabits, distributed infrastructure, virtualizations, and cloud services. These trends have created a huge demand for stability and improved administration of networks.
- There is a rapid growth in the cyber threat in the recent past. For instance, according to IBM, small and mid-sized businesses are hit by 62% of all cyber-attacks, about 4,000 per day, according to IBM.
- Further, the US National Cyber Security Alliance has stated that 60% of small companies are unable to sustain their businesses over six months after a cyber attack. Such high risks with networks and increasing awareness are expected to increase the share of the network security market and bolster the adoption of network traffic analysis solutions.
- Increasing cloud traffic has resulted in increased concerns about network security across businesses, which is driving the need for managing distributed denial-of-service (DDoS) attacks and maintaining the quality of experience (QoE).
Scope of the Report
Network traffic analysis is the process of recording, reviewing and analyzing network traffic for the purpose of performance, security and/or general network operations and management. With the evolving nature of the attacks, many technology experts estimate that in 2019, network-based micro-breaches may be small enough to evade even the most advanced detection systems ever built. It is also known that deploying network traffic analysis solutions reaps a rapid ROI when compared to endpoint and sandbox solutions.
Key Market Trends
BFSI Sector is expected to Hold a Significant Market Share
- Data breaches lead to an exponential rise in costs and loss of valuable customer information. For instance, in the recent past, Taiwan's Far Eastern International Bank incurred a loss of around USD 60 million due to malware.
- With the aim to secure their IT processes and systems, secure customer critical data and comply with government regulations, both private and public banking institutes are focused on implementing the latest technology to prevent these network attacks.
- Owing to the presence of large networking framework, coupled with critical data, the BFSI sector in the region is faced with a number of data breaches and cyber attacks due to the large customer base that the industry serves.
North America is Expected to Witness Significant Growth Rate
- North America is the home to the largest companies, data center operators, and service providers. With all these sectors witnessing a greater investment in deploying advanced network capabilities and operating critical communication networks, the demand for network monitoring and traffic analysis has been on the rise.
- The government has also been instrumental in aiding market growth. For instance, in the Utilities Industry, the US government mandated the adoption of version 5 of the North American Electric Reliability Corporation Critical Infrastructure Protection (NERC CIP) as the cybersecurity standard, whereas the healthcare industry abides by HIPPA requirements for securing data.
The network traffic analysis markets moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, with the growth of the advanced security system, many of the companies are increasing their market presence by securing new contracts by tapping into new markets.
- November 2018 - The Cyber Security Agency of Singapore (CSA) and Cisco Systems, Inc. have signed a Memorandum of Collaboration (MOC) to formalise a mutual framework for cooperation in the cybersecurity domain, which will see closer partnerships in the areas of information sharing and capability development. The MOC builds upon CSA's past collaborations with Cisco, which include training initiatives under Singapore's ASEAN Cyber Capacity Programme.
November 2018 - Dynatrace announced the extension of the platform's cloud visibility and contextual data ingestion from Amazon Web Services (AWS) with Amazon CloudWatch (CloudWatch) and AWS CloudTrail (CloudTrail). The addition of AWS metrics and events from the two services enriches the high-fidelity data that Dynatrace processes, further enhancing contextual problem identification and root cause analysis.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Emergence Of Network Traffic Analysis As The Key To Cyber Security
4.3.2 Increasing Demand for Higher Access Internet Speed
4.4 Market Restraints
4.4.1 Rapidly Evolving Nature of Cyber Threats
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Deployment
5.2 By End-user Vertical
5.2.2 IT and Telecom
5.2.4 Energy and Power
5.2.6 Others End-user Verticals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Netreo Inc.
6.1.2 Dynatrace LLC
6.1.3 Cisco Systems Inc.
6.1.4 Palo Alto Networks Inc.
6.1.5 IpswITCh Inc.
6.1.6 Netmon Inc.
6.1.7 ManageEngine (Zoho Corp. PVT. LTD.)
6.1.8 Flowmon Networks A.S.
6.1.9 GreyCortex S.R.O.
6.1.10 Genie Networks Ltd.
6.1.11 Netscout Systems Inc.
6.1.12 CA Technologies Inc.
6.1.13 SolarWinds Corporation
6.1.14 Kentik Technologies Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/wvx5d0
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets