Network Traffic Analytics Global Market Report 2024

The network traffic analytics market size has grown rapidly in recent years. It will grow from $2.92 billion in 2023 to $3.32 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth observed during the historic period can be attributed to several factors, including the rise in cyber threats and security breaches, an increase in remote work and telecommuting, a demand for network forensics capabilities, a rise in distributed denial-of-service (DDoS) attacks, and a demand for network traffic data retention and analysis.

The network traffic analytics market size is expected to see rapid growth in the next few years. It will grow to $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The anticipated growth in the forecast period can be attributed to several factors, including increased adoption of cloud-based solutions, the need for network performance optimization, an increased focus on user behavior analytics (UBA), growing demand for real-time monitoring, and the demand for predictive analytics capabilities. Major trends expected in the forecast period include the expansion of IoT devices and networks, the expansion of network segmentation strategies, the expansion of hybrid cloud environments, migration to software-defined networking (SDN), and the integration of network traffic analytics with endpoint security solutions.

The anticipated increase in cyber threats and security breaches is expected to drive the growth of the network traffic analytics market in the coming years. Cyber threats involve malicious activities aimed at digital systems, while security breaches entail unauthorized access or compromise of sensitive information, posing risks to individuals, organizations, or governments. Factors contributing to the rise in cyber threats and security breaches include the growing reliance on digital technologies, expansion of attack surfaces, evolving tactics of cybercriminals, and insufficient cybersecurity measures. Network traffic analytics plays a crucial role in cybersecurity by providing real-time insights into network behavior, detecting anomalies, and identifying potential security threats. These tools assist organizations in enhancing their cybersecurity defenses by enabling early threat detection, incident response capabilities, attribution evidence for attacks, and insights into weaknesses within the network infrastructure. For example, a report published by the Identity Theft Resource Center (ITRC) in January 2024 revealed that the number of data compromises in 2023 reached 3,205, marking a 78% increase compared to 2022 (1,801), and exceeding the previous high in 2021 by 1,345 cases. Thus, the surge in cyber threats and security breaches is fueling the expansion of the network traffic analytics market.

Key players in the network traffic analytics market are concentrating on developing advanced solutions, such as network detection and response platforms (NDR), to gain a competitive advantage. NDR platforms are cybersecurity solutions that continuously monitor network traffic to identify cyber threats and anomalous behaviors across an organization's network. These solutions analyze raw network traffic logs to accurately identify risks, providing early detection to prevent attacks before significant damage occurs. For instance, in January 2022, LiveAction, a US-based provider of IT network performance management, visualization, and analytics software, introduced ThreatEye NV, a network detection and response platform offering complete encrypted traffic analysis and visibility. This solution combines next-generation data gathering, advanced behavior analysis, and streaming machine learning to provide SecOps teams with unparalleled visibility into encrypted traffic, threats, and network anomalies. The platform utilizes Deep Packet Dynamics (DPD), eliminating the need for payload inspection, to assess over 150 packet attributes and behaviors across multi-vendor, multi-domain, and multi-cloud network environments.

In January 2022, SolarWinds Corporation, a US-based software company, acquired Monalytic Inc. to enhance its IT management products with Monalytic's expertise in secure environments. Monalytic Inc., a US-based IT service management company, specializes in network traffic analytics to provide insights into the performance of critical business systems.

Major companies operating in the network traffic analytics market are Microsoft Corporation, Dell Inc., Huawei Technologies Co. Ltd., Accenture Plc, International Business Machines Corporation, Cisco Systems Inc., Broadcom Inc., Nokia Corporation, Palo Alto Networks Inc., Juniper Networks Inc., Arista Networks Inc., Splunk Inc., Check Point Software Technologies Ltd., McAfee Corp., Trend Micro Incorporated, NEC Corporation, NetScout Systems Inc., FireEye Inc., SolarWinds Corporation, Rapid7 Inc., Qualys Inc., Darktrace, Allot Ltd., Ascom Timeplex, ExtraHop Networks Inc.

North America was the largest region in the network traffic analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network traffic analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the network traffic analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Network traffic analytics encompasses the process of evaluating, analyzing, and interpreting data traffic traversing a computer network to gain insight into network performance, security concerns, and user behavior. The objective of network traffic analytics is to enhance network visibility, identify and prevent security breaches, optimize network performance, and facilitate informed decision-making.

The primary components of network traffic analytics are solutions and services. A solution refers to a comprehensive approach or set of tools designed to address specific challenges or needs. It can be deployed on-premises and in the cloud across various organizational sizes, including small and medium-sized enterprises (SMEs) and large enterprises. These solutions are utilized by various end-users, including service providers, enterprises, and data centers.

The network traffic analytics market research report is one of a series of new reports that provides network traffic analytics market statistics, including network traffic analytics industry global market size, regional shares, competitors with a network traffic analytics market share, detailed network traffic analytics market segments, market trends and opportunities, and any further data you may need to thrive in the network traffic analytics industry. This network traffic analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The network traffic analytics market includes revenues earned by entities by providing services such as real-time monitoring, analysis, and reporting of network traffic data. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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