Network Traffic Analysis Market Size Worth $5.69 Billion By 2028: Grand View Research, Inc.

SAN FRANCISCO, Aug. 26, 2021 /PRNewswire/ -- The global network traffic analysis market size is anticipated to reach USD 5.69 billion by 2028, expanding at a CAGR of 9.7% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. Network Traffic Analysis (NTA) comprises general network operations and management; recording, reviewing, and analyzing the network traffic for performance and security; and identifying the anomalies. The growing internet penetration rate, the shifting consumer preference toward online platforms, the continued adoption of the Bring Your Own Device (BYOD) trend, and the subsequent upsurge in cybercrime have triggered the need to handle the network traffic and complexity efficiently, thereby driving the demand for advanced network management systems.

Key Insights & Findings:

• The software segment dominated the market in 2020 with a revenue share of more than 60% as enterprises continued to adopt various network traffic analysis software to handle the network traffic
• The cloud segment is expected to grow over the forecast period owing to the benefits, such as cost-saving, agility, and convenience in accessing the data, provided by cloud-based deployment and the continued adoption of Work From Home (WFH) policy by organizations
• The small and medium enterprise segment is anticipated to expand at the highest CAGR from 2021 to 2028 owing to the growing awareness about network traffic analysis and its benefits among small and medium enterprises
• North America dominated the market in 2020 owing to the early and aggressive adoption of the latest and advanced technologies, such as IoT and cloud computing, which has been driving the demand for network traffic analysis solutions in the regional market

Read 140 page market research report, "Network Traffic Analysis Market Size, Share & Trends Analysis Report By Component (Software, Service), By Deployment (On-premise, Cloud), By Organization, By Vertical, By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research

Cloud-based deployment is expected to gain traction over the forecast period as most organizations are aggressively adopting work-from-home and remote working practices in the wake of the outbreak of the COVID -19 pandemic. Cloud-based deployment provides adequate agility as organizational data can be stored over the cloud and accessed in real-time, irrespective of the location, for further comprehensive analysis. However, cloud-based deployments also increase the volumes of data being exchanged over the data networks, thereby driving the need for robust network traffic analysis solutions.

North America accounted for the largest revenue share of the global market in 2020. The U.S. and Canada, which are considered the most developed economies in the North America continent, are equally known for aggressive adoption of the latest and advanced technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing. A strong and well-developed IT infrastructure deployed in the region bodes well for aggressive adoption of network traffic analysis solutions.

Grand View Research has segmented the global network traffic analysis market based on component, deployment, organization, vertical, and region:

• Network Traffic Analysis Component Outlook (Revenue, USD Million, 2018 - 2028)
• Software
• Service
• Network Traffic Analysis Deployment Outlook (Revenue, USD Million, 2018 - 2028)
• On-premise
• Cloud
• Network Traffic Analysis Organization Outlook (Revenue, USD Million, 2018 - 2028)
• Small and Medium Enterprises
• Large Enterprises
• Network Traffic Analysis Vertical Outlook (Revenue, USD Million, 2018 - 2028)
• BFSI
• Healthcare
• Government
• Retail
• Education
• Others
• Network Traffic Analysis Regional Outlook (Revenue, USD Million, 2018 - 2028)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• China
• Japan
• India
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players of the Network Traffic Analysis Market

• Awake Security Inc.
• Broadcom Corporation
• Cloudflare, Inc.
• Core Security Technologies
• NEC Corporation
• NETSCOUT Systems, Inc.
• Netreo Incorporated
• SolarWinds

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About Grand View Research:

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.