New York, June 02, 2022 (GLOBE NEWSWIRE) -- As per a study conducted by Persistence Market Research, the global network traffic analyzer market sales is anticipated to secure US$ 2.6 Billion in 2022, whereas, it was valued US$ 2.3 Billion in 2021. Owing to the rapid digitalization in the technological sector, the market for network traffic analyzer is likely to flourish significantly, securing US$ 6.6 Billion while recording a CAGR of 9.7% during the forecast period from 2022-2032.
The rising need for proper network administration is in line with the growing network complexities contributing to the growth of the market. The growing internet penetration rate and the subsequent rise in cybercrimes are expected to drive the market growth in the forecasting period.
Digitalization has offered lucrative opportunities in the technological sector by enhancing mobility, connectivity surveillance, supporting real-time decision-making, and storage technologies. This is speculated to be the key cause driving the industry significantly during the forecast period. Digitalization and connectivity of smart devices carve out several remunerative chances for IT and Telecommunication industries to augment productivity and reduce expenses.
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Key Takeaways from the Market Study
- Global network traffic analyzer market to be valued at US$ 6.6 Billion in 2032
- By component, the solution segment to record 9.1% during the forecast period
- The cloud segment is projected to witness 8.8% during the assessment period.
- The UK market to value USD276.6 Million while exhibiting an 8.7% growth rate in the assessment period.
- Market in China is projected to secure USD 467.4Million, expanding at a 9.0% CAGR in the forecast period
- Market in Japan is expected to procure USD 377.2Million while exhibiting an 8.0% CAGR from 2022-2032
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Competitive Landscape
Key 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 & acquisitions, and partnerships. Some of the eminent players in the region include SolarWinds, Netscout , Broadcom , Nokia and Opmantek, among others. Recent key developments in the Network traffic analyzer market industry include:
- In April 2021 -- Broadcom Inc. and Google Cloud announced a strategic collaboration to accelerate innovation and strengthen cloud services integration within the core software franchises of Broadcom. Under this partnership, Broadcom will deliver its suite of security and enterprise operations software on Google Cloud, enabling businesses to deploy Broadcom solutions in security, DevOps and more on Google Cloud’s trusted, global infrastructure.
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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 comprehensive, plug-and-play solution that provides customers with the visibility and insights they need to ensure a high-quality end-user experience regardless of where employees work.
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