Network Telemetry Market by Component (Solution and Services), Organization Size, End User (Service Providers (Telecom Service Providers, Cloud Service Providers, and Managed Service Providers), Verticals), and Region - Global Forecast to 2024
Increasing need for in-depth visibility into network security and Quality of Service (QoS), and growing network infrastructure to drive the market growth of network telemetry solutions
The global network telemetry market size is expected to grow from 140 million in 2019 to USD 704 million by 2024, at a Compound Annual Growth Rate (CAGR) of 38.1% during the forecast period. Primary factors expected to drive the growth of the network telemetry market are increasing need for in-depth visibility into network security and Quality of Service (QoS), and growing network infrastructure. Exponential growth in the global Internet Protocol (IP) traffic and cloud traffic, and prominence of the Internet of Things (IoT) are expected to offer vast market opportunities for network telemetry vendors in the next 5 years.
By service, training, support, and maintenance services segment to account for the highest market share during the forecast period
By service, the training, support, and maintenance services segment is expected to account for the highest market share during the forecast period. Training, support, and maintenance services keep the network running and operational with the utmost efficiency. Training services and support standards help make the most appropriate use of capabilities provided by solution providers. To increase operational efficiency with a lower cost, companies use support services. Support services help with software support, which can be offered from remote spots using web conferencing, phones, onsite help, and ticketing frameworks.
By end user, the verticals segment to grow at a higher rate during the forecast period
By end user, the verticals segment is expected to register the highest growth rate during the forecast period. Organizations in the healthcare and Banking, Financial Services, and Insurance (BFSI) verticals majorly rely on secure network environments to transfer Protected Health Information (PHI). These networks must be stable to provide clinicians with the required access to mission-critical applications and regulate the use of the network for personal content. Network telemetry solutions offer uninterrupted connectivity to BFSI and healthcare stakeholders, thus improving their service delivery efficiency.
By region, APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is estimated to grow at the highest CAGR during the forecast period. Major economies in the APAC region include China, India, Australia, and Japan. These economies project a rapid adoption of network telemetry solutions to gain visibility into their networks. The proliferation of smartphones, Distributed Denial of Service (DDoS) attacks on networks, and broadband connectivity augmented by the emergence of advanced technologies, such as IoT, mobility, and cloud in the region, are factors expected to drive the growth of the network telemetry market. Countries that constitute a major portion of the network telemetry market in APAC include China, Japan, South Korea, India, and Australia. Many organizations across countries, such as Australia, Sri Lanka, New Zealand, and South Korea, recognize the benefits of the network telemetry solutions. Overall, the region is witnessing steady growth in terms of the adoption of the network telemetry solutions and is expected to grow at the highest CAGR during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the network telemetry market.
The breakup of the profiles of the primary participants is given below:
By Company: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%
By Designation: C-Level – 45%, Directors -30%, Managers – 25%
By Region: North America – 30%, Europe – 35%, APAC – 25%, and RoW – 10%
The following key network telemetry vendors are profiled in the report:
Cisco Systems (US)
Juniper Networks (US)
Arista Networks (US)
Mellanox Technologies (US)
Pluribus Networks (US)
Barefoot Networks (US)
Solarflare Communications (US)
VOLANSYS Technologies (US)
Network telemetry market by component, organization size, end user, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the global network telemetry market.
Reasons to Buy the Report
The report would help the market leaders/new entrants in the following ways:
It comprehensively segments the network telemetry market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across regions.
It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook