Growing adoption of cloud computing techniques with widespread applications across various sectors is expected to boost the network analytics market. Exponential growth in the digitization of various organizations, businesses and enterprises has resulted in increased demand for network analytics over the last few years. Increase in network traffic, improved focus on core businesses and quality of maintenance (QOE) are some of the factors that are expected to positively impact market growth. The technology is poised for high growth owing to its ability to prevent potential infrastructural delays and deployment issues. However, infrequent platform upgradation and lack of prominent vendors may challenge network analytics market growth throughout the forecast period. Growing demand for network optimization is expected to serve as a considerable opportunity for companies operating in the market.
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Substantial advancements in the telecom service offerings have extensively influenced user experience. Network analytics are primarily deployed in Banking, Financial Services and Insurance (BFSI), healthcare, and telecom sectors. Telecom analytics provide large-scale analytical models and technology solutions to examine the system scenario through network analytics for the communication service providers. The market can be categorized on the basis of deployment into, on-premise and on-demand.
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North America is expected to generate high revenue over the forecast period due to high technological development, particularly in the U.S. The Asia Pacific regional market is expected to witness significant growth, which can be attributed to increased smartphone adoption in the region, increasing economy growth rate, and growing population.
Key market players include Cisco, Allot Communication, Juniper Network, Ascom Holdings AG, IBM, Accenture, Hewlett-Packard, and Bradford Networks.
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