Rising Network Complexities Worldwide Fuel Network Analytics Market Growth
The network analytics market is being driven by the rise in network complexities within various sectors such as BFSI, Telecom, and IT among others. With the growth of distributed computing and microservices architectures, individual components of an application may be spread across different servers, containers, or even geographic locations. This decentralization presents challenges for traditional network management, necessitating advanced analytics to track and optimize the flow of data between these dispersed elements.
Furthermore, the surge in data volumes poses a significant challenge. The sheer amount of data generated by devices, applications, and user interactions requires robust analytics capabilities to sift through and extract meaningful insights. This big data aspect demands scalable solutions capable of handling large datasets in real time, adding another layer of complexity.
Security considerations further contribute to the intricacy of network analytics. As cyber threats become more sophisticated, network analytics tools must not only monitor regular network activities but also detect anomalous behavior indicative of potential security breaches. This requires a comprehensive understanding of normal network behavior and the ability to adapt to emerging threats. Moreover, the need for compliance with regulatory requirements further complicates network analytics. Industries such as finance, healthcare, and government must adhere to specific data protection and privacy standards, requiring network analytics solutions to incorporate compliance monitoring and reporting features.
Network Analytics Market: Industry Overview
The global network analytics market is segmented on the basis of component, deployment type, end user, and geography. Based on component, the market is segmented into solutions and services. Based on deployment type, the market is segmented into on-premise and cloud. By end user, the market is segmented into telecom providers, cloud providers, managed service providers, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.
US Dominates Network Analytics Market Share in North America
The global network analytics market analysis is segmented into five major regions: North America, Europe, APAC, the Middle East & Africa, and South America. In 2022, North America led the global network analytics market with a substantial revenue share, followed by Europe and Asia Pacific. The network analytics market forecast in North America is segmented into the US, Canada, and Mexico. The rapid pace of technological advancements and digital transformation throughout the region is projected to stimulate the demand for network analytics. These solutions primarily enhance networks to accommodate advanced technologies and digital endeavors. Moreover, organizations in North America prioritize data-informed decision-making, and network analytics solutions enable them to gain insights into network performance, security, and user behavior. Such factors have also contributed to the growth of the region’s network analytics market share.
In October 2022, Oracle introduced the Oracle Network Analytics Suite, a cloud-native portfolio of analytics solutions designed to integrate network function data with machine learning and artificial intelligence. This offering aims to empower operators to make more informed, automated decisions regarding the overall stability and performance of their entire 5G network core. Specifically, the suite enables operators to swiftly identify anomalies that could potentially lead to critical network function failures, ultimately impacting customer service. Such initiatives are anticipated to propel the network analytics market growth.
Network Analytics Market Analysis: Competitive Landscape and Key Developments
The network analytics market report emphasizes the key factors driving the market and prominent players’ developments. IBM Corporation; Hewlett Packard Enterprise Development LP; Fortinet, Inc.; Huawei Technologies Co., Ltd.; Cisco Systems, Inc.; Broadcom, Inc.; Extreme Networks, Inc.; Juniper Networks, Inc.; Sandvine Corporation; Ciena Corporation; Allot Ltd.; and Nivid Technologies are among the prominent players profiled in the network analytics market report. The network analytics market players focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
- In May 2023, Juniper Networks, Inc. introduced the Mist Access Assurance service, marking a significant milestone as the first cloud-native service of its kind. This innovative offering leverages Mist AI and a contemporary microservices cloud to provide a comprehensive suite of network access control (NAC) and policy management capabilities. These capabilities encompass Juniper’s wired access, wireless access, indoor location, SD-WAN, and secure client-to-cloud portfolio, delivering unparalleled automation, insight, and assurance for superior access control and policy enforcement. The result is a solution that not only ensures exceptional operational savings but also offers businesses the flexibility and simplicity needed to navigate the complexities of modern network management.
- In June 2022, at RSAC 2022, IBM Corporation unveiled its intention to acquire Randori, a prominent attack surface management (ASM) and offensive cybersecurity enterprise based in the Boston area. Randori specializes in assisting customers in identifying external assets visible to potential attackers, whether located on-premises or in the cloud, and prioritizing the most critical ones for protection.
- In October 2022, Oracle introduced the Oracle Network Analytics Suite, a cloud-native portfolio of analytics solutions designed to integrate network function data with machine learning and artificial intelligence. This offering aims to empower operators to make more informed, automated decisions regarding the overall stability and performance of their entire 5G network core. Specifically, the suite enables operators to swiftly identify anomalies that could potentially lead to critical network function failures, ultimately impacting customer service. This new suite is strategically positioned to assist telecom operators in leveraging advanced technologies, such as machine learning and AI, to enhance their decision-making processes and ensure the optimal functioning of their 5G networks. By harnessing the power of data analytics and cutting-edge technologies, operators can proactively address potential network disruptions and maintain a high level of service reliability for their customers. The Oracle Network Analytics Suite represents a significant advancement in the realm of network analytics, offering operators the tools they need to navigate the complexities of 5G network management with greater precision and efficiency. As the telecommunications industry continues to evolve, solutions like the Oracle Network Analytics Suite are poised to play a pivotal role in driving operational excellence and delivering exceptional customer experiences.