Network Traffic Analysis Market size is anticipated to reach USD 5.69 billion by 2028

 Network Traffic Analysis Industry Overview

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.

 

Network Traffic Analysis Market Segmentation

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

Based on the Component Insights, the market is segmented into Software and Service.

  • The software segment dominated the market in 2020 and accounted for a market share of over 60%. The growing need for advanced network management systems to handle network traffic complexities and growing cybercrime is driving the demand for network traffic analysis software. 
  • The continued adoption of the latest technologies by the incumbents of various industries and industry verticals, such as BFSI, healthcare, and retail, to address network security challenges bodes well for the growth of the market. Network traffic analysis aids in ensuring network security, identifying anomalies, monitoring the network capacity consumption, and resolving network issues.
  • The software segment is anticipated to expand at the highest CAGR over the forecast period. The growth can be attributed to the growing smartphone proliferation and internet penetration rate in remote areas. The Work from Home (WFH) policy being pursued aggressively by various enterprises is driving the need for secure data transmission. 

 

Based on the Deployment Insights, the market is segmented into On-premise and Cloud

  • The on-premise segment dominated the market in 2020 with a revenue share of more than 60%. On-premise deployment envisages installing software directly on the end users' computers so that all the organizational data is maintained within the premises of the organization.
  • The cloud segment is expected to register the highest CAGR over the forecast period. Cloud deployment allows data to be accessed remotely using different connected devices, including smartphones and tablets.

 

Based on the Organization Insights, the market is segmented into Small and Medium Enterprises and Large Enterprises

  • The large enterprise segment accounted for a global revenue share of around 60% in 2020. Several large enterprises have witnessed cyberattacks during the past few years. Moreover, the growing preference for remote working in the wake of the outbreak of the COVID-19 pandemic has increased the risks of cyber threats and data breaches.
  • The small and medium enterprises segment is estimated to expand at the highest CAGR of 10.3% from 2021 to 2028. The convenience associated with cloud-based deployment is expected to encourage small and medium enterprises to opt for cloud-based network traffic analysis solutions over the forecast period.

 

Based on the Vertical Insights, the market is segmented into BFSI, Healthcare, Government, Retail, Education and Others

  • The government segment held the largest revenue share of more than 23% in 2020. Government agencies worldwide continue to emphasize ensuring adequate data security in the wake of the confidential and sensitive governmental and citizens' data they hold. 
  • The BFSI segment held a significant revenue share of the market in 2020. The number of cyberattacks targeting the incumbents of the BFSI industry has been significant. 
  • The healthcare segment is expected to expand at the highest CAGR over the forecast period. Healthcare records contain sensitive data, including personal health information, bank details, and social security numbers of patients.

 

Network Traffic Analysis Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa


Key Companies Profile & Market Share Insights

The market can be described as highly fragmented owing to the presence of both established and local market players. Moreover, all these market players are catering to a limited number of clients, thereby intensifying the competition in the market. 

Some of the prominent players operating in the global network traffic analysis market are:

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

 

Order a free sample PDF of the Network Traffic Analysis Market Intelligence Study, published by Grand View Research. 

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