Network Analytics Global Market Opportunities and Strategies to 2033

This report describes and explains the network analytics market and covers 2018-2023, termed the historic period and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global network analytics market reached a value of nearly $3.64 billion in 2023, having grown at a compound annual growth rate (CAGR) of 21.04% since 2018. The market is expected to grow from $3.64 billion in 2023 to $9.72 billion in 2028 at a rate of 21.69%. The market is then expected to grow at a CAGR of 20.14% from 2028 and reach $24.32 billion in 2033.

Growth in the historic period resulted from increasing sophistication of cyber threats, growing adoption of cloud computing technology, globalization of businesses, increase in data volume generation and growing adoption of IoT devices. Factor that negatively affected growth in the historic period was security and data protection challenges.

Going forward, expansion of the e-commerce industry, rising use of 5G technology, integration of artificial intelligence, rising urbanization, growing internet penetration and expansion of the telecommunications industry will drive the growth. Factor that could hinder the growth of the network analytics market in the future include shortage of skilled professionals.

The network analytics market is segmented by component into network intelligence solutions and services. The network intelligence solutions market was the largest segment of the network analytics market segmented by component, accounting for 67.70% or $2.46 billion of the total in 2023. Going forward, the services segment is expected to be the fastest growing segment in the network analytics market segmented by component, at a CAGR of 22.71% during 2023-2028.

The network analytics market is segmented by application into customer analysis, risk management, fault detection, network performance management, quality management and other applications. The network performance management market was the largest segment of the network analytics market segmented by application, accounting for 31.52% or $1.14 billion of the total in 2023. Going forward, the quality management segment is expected to be the fastest growing segment in the network analytics market segmented by application, at a CAGR of 23.46% during 2023-2028.

The network analytics market is segmented by end-user into cloud-service providers, managed service providers, telecom providers and other end users. The telecom providers market was the largest segment of the network analytics market segmented by end user, accounting for 35.97% or $1.31 billion of the total in 2023. Going forward, the cloud-service providers segment is expected to be the fastest growing segment in the network analytics market segmented by end user, at a CAGR of 24.94% during 2023-2028.

The network analytics market is segmented by deployment into cloud and on-premise. The on-premise market was the largest segment of the network analytics market segmented by deployment, accounting for 53.85% or $1.96 billion of the total in 2023. Going forward, the cloud segment is expected to be the fastest growing segment in the network analytics market segmented by deployment, at a CAGR of 23.20% during 2023-2028.

The network analytics market is segmented by enterprise size into large and small and medium-sized enterprises (SMEs). The large market was the largest segment of the network analytics market segmented by enterprise size, accounting for 63.50% or $2.31 billion of the total in 2023. Going forward, the small and medium-sized enterprises (SMEs) segment is expected to be the fastest growing segment in the network analytics market segmented by enterprise size, at a CAGR of 23.82% during 2023-2028.

North America was the largest region in the network analytics market, accounting for 34.02% or $1.23 billion of the total in 2023. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the network analytics market will be Asia Pacific and Middle East where growth will be at CAGRs of 25.95% and 21.94% respectively. These will be followed by Africa and Western Europe where the markets are expected to grow at CAGRs of 21.73% and 20.60% respectively.

The global network analytics market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 39.60% of the total market in 2023. Telefonaktiebolaget LM Ericsson was the largest competitor with a 9.22% share of the market, followed by Cisco Systems, Inc. with 7.99%, Nokia Corporation with 5.27%, Hewlett Packard Enterprise Company with 4.28%, Huawei Technologies Co., Ltd. with 3.51%, Nvidia Corporation with 2.93%, Juniper Networks, Inc. with 2.86%, International Business Machines Corporation with 1.44%, Broadcom Inc. with 1.31% and Accenture PLC with 0.79%.

The top opportunities in the network analytics market segmented by component will arise in the network intelligence solutions segment, which will gain $3.98 billion of global annual sales by 2028. The top opportunities in the network analytics market segmented by application will arise in the network performance management segment, which will gain $2.09 billion of global annual sales by 2028. The top opportunities in the network analytics market segmented by end user will arise in the telecom providers segment, which will gain $2.24 billion of global annual sales by 2028. The top opportunities in the network analytics market segmented by deployment will arise in the cloud segment, which will gain $3.09 billion of global annual sales by 2028. The top opportunities in the network analytics market segmented by enterprise size will arise in the large segment, which will gain $3.53 billion of global annual sales by 2028. The network analytics market size will gain the most in the USA at $1.42 billion.

Market-trend-based strategies for the network analytics market include focus on advancements in technologies and methodologies, focus on strategic partnerships and collaborations to enhance their offerings, improve the customer experience, access exclusive inventory, expand into new markets and achieve cost savings, focus on the deployment of advanced analytics tools in 5G telecommunications to improve proactive network management and focus on developing and launching cutting-edge network analytics solutions specifically designed for the financial markets community.

Player-adopted strategies in the network analytics market include focus on enhancing operational capabilities through the launch of new solutions and on strategic partnerships activities to expand geographical reach.

To take advantage of the opportunities, the analyst recommends the network analytics companies to focus on leveraging advanced analytics to enhance network efficiency, focus on deploying advanced analytics in 5g telecommunications, focus on enhancing network analytics solutions for financial markets, focus on the fastest-growing services segment, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships for expanding distribution channels, focus on competitive pricing strategies, focus on enhancing digital marketing efforts, continue to use B2B promotions and focus on cloud service providers.