MOUNTAIN VIEW, Calif., May 12, 2016 /PRNewswire/ -- Steady deployment of cloud computing and Big Data solutions by companies is highlighting the need to secure data as well as create centralized management systems that provide full visibility into the networks of branch offices. These factors, coupled with the boom in remote devices and regulatory requirements to store information for a certain amount of time, are boosting demand for network recording systems.
Recent analysis from Frost & Sullivan, Global Network Recording Market, (http://www.frost.com/k027) finds that the market was worth $659.8 million in 2015. This is expected to grow at a strong compound annual growth rate of 24.2 percent to reach $3,012.6 million by 2022. The market is segmented into standalone and integrated systems that record at speeds of 1 Gigabit per second (Gbps) and 10 Gbps and above.
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"Collecting and analyzing the right data and sharing the results across different locations are critical for companies," said Frost & Sullivan Measurement & Instrumentation Industry Manager Sujan Sami. "This growing focus on centralized monitoring will fuel uptake of sophisticated network recording systems."
However, capital expenditure is an issue with tier 2 and tier 3 companies, hindering investment in recording systems. Further, many companies do not see cyber security as being completely foolproof. Gaining customer confidence is thus critical for success in this market. Vendors must constantly develop and deploy security updates and minimize zero day attacks. Other competitive factors include storage capacity, quality of service (QoS), and one-stop-shop solutions.
"In addition to expanding the customer base to newer geographic regions, growth opportunities exist in 100 Gb deployments," noted Sami. "10 Gb deployments are already at full potential and there is a steady intake for 40 Gb tools in the market along with several new 100 Gb deployments, which are particularly cost-effective for large data transaction."
Global Network Recording Market is part of the Test & Measurement (http://ww2.frost.com/research/industry/measurement-instrumentation/test-measurement) Growth Partnership Service program. Frost & Sullivan's related studies include: Global Centralized Radio Access Network (C-RAN) Testing and Monitoring Market, Global Mass Spectrometry Market, 2025 Vision for the Global Test and Measurement Industry, Big Data: Implications for T&M, Analysis of the NDT Inspection Services and NDT Equipment Market in the Transportation Industry, Analysis of the SON Testing and Monitoring Market, Global LTE Test Equipment Market, Strategic Analysis of the Computed Tomography Technology in the Dimensional Metrology Market, The Big Data and Cloud Analytics Test Service Market and Monitoring Equipment Market, Analysis of the Global HetNet Test Equipment Market, among others. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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SOURCE Frost & Sullivan