New York, June 02, 2022 (GLOBE NEWSWIRE) — According to research conducted by Persistence Market Research, the global network traffic analyzer market Sales is estimated to reach US$2.6 billion in 2022, while it was valued at US$2.3 billion in 2021. Due to the rapid digitalization of the technology sector, the network traffic analyzer market is expected to flourish significantly, securing US$6.6 billion. while registering a CAGR of 9.7% during the forecast period of 2022-2032.
The growing need for good network administration is in line with the increasing complexity of the network which is contributing to the growth of the market. Rising internet penetration rate and subsequent rise in cyber crime is expected to drive the market growth over the forecast period.
Digitization has brought lucrative opportunities in the technology sector by improving mobility, connectivity monitoring, real-time decision support and storage technologies. This is assumed to be the main cause which has driven the industry considerably over the forecast period. The digitization and connectivity of smart devices offers several remunerative opportunities for the IT and telecommunications industries to increase productivity and reduce expenses.
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Key insights from market research
- Global Network Traffic Analyzers Market to be Valued at US$6.6 Billion in 2032
- By component, the solutions segment will register 9.1% during the forecast period
- The cloud segment is expected to grow to 8.8% over the assessment period.
- The UK market is worth $276.6 million while showing a growth rate of 8.7% over the assessment period.
- The market in China is expected to reach USD 467.4 million, expanding at a CAGR of 9.0% during the forecast period
- The Japanese market is expected to procure USD 377.2 million while growing at a CAGR of 8.0% from 2022 to 2032
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The major players in the global network traffic analyzer market are taking several initiatives to expand their reach in the global market. Players focus on industry collaborations, mergers and acquisitions, and partnerships. Prominent players in the region include SolarWinds, Netscout, Broadcom, Nokia, and Opmantek, among others. Recent key developments in the Network Traffic Analyzer market industry include:
- April 2021 — Broadcom Inc. and Google Cloud announced a strategic collaboration to accelerate innovation and strengthen the integration of cloud services across major Broadcom software franchises. Under the partnership, Broadcom will deliver its suite of enterprise security and operations software on Google Cloud, enabling enterprises to deploy Broadcom solutions for security, DevOps and more on the global infrastructure of trust from Google Cloud.
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- In February 2022, Netscout Systems, Inc., a leading provider of cybersecurity, service assurance, and business analytics solutions, announced the availability of nGeniusEDGE Server, a complete, plug-and-play solution that gives customers the visibility and information they need. to ensure a high-quality end-user experience, wherever employees work.
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