Network Traffic Analyzer Market Growing at a CAGR 10.6% | Key Player Solarwinds, Netscout, Broadcom, Nokia, NEC

Network Traffic Analyzer Market Growing at a CAGR 10.6% | Key Player Solarwinds, Netscout, Broadcom, Nokia, NEC

“SolarWinds (US), Netscout (US), Broadcom (US), Nokia (Finland), Opmantek (US), Progress (US), Kentik (US), Colasoft (China), ManageEngine (US), NEC (Japan), NetVizura (Serbia), Plixer (US), MixMode (US), Opsview (UK), Inmon (US), Nagios (US), Corelight (US), Awake (US), Ideadata (Germany)…”
Network Traffic Analyzer Market by Component (Solutions and Professional Services), Deployment Mode (Physical, Virtual, and Cloud), End users (Service Providers and Enterprises), Enterprise Size, and Region – Global Forecast to 2024

The global Network Traffic Analyzer Market size is projected to grow from USD 1.9 billion in 2019 to USD 3.2 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. The major factors driving the growth of the market include the demand for network virtualization and automation, increased emergence of cloud services and server virtualization, and the need for advanced network management systems.

By service provider, the managed service providers segment to grow at the highest CAGR during the forecast period

Managed Service Providers (MSPs) offer various types of Information Technology (IT) services that include managed security services, managed network services, managed communication and collaboration services, managed data center services, managed mobility services, managed IT infrastructure services, and managed information services. Managed services reduce the load on the IT staff within an organization by remotely managing the IT needs, thus enabling organizations to focus more on business enhancement.

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By service, the training and support segment to grow at the highest CAGR during the forecast period

Training and support services keep the network running and operational with the utmost efficiency. Training services and support standards help take the full advantage of the capabilities provided by solution providers. To increase operational efficiency with a lower cost, companies use support services. These services help with software support, which can be offered from remote spots using web conferencing, phones, onsite help, and ticketing frameworks, in order to comply with the company’s network policy.

The key players profiled in the network traffic analyzer market include SolarWinds (US), Netscout (US), Broadcom (US), Nokia (Finland), Opmantek (US), Progress (US), Kentik (US), Colasoft (China), ManageEngine (US), NEC (Japan), NetVizura (Serbia), Plixer (US), MixMode (US), Opsview (UK), Inmon (US), Nagios (US), Corelight (US), Awake (US), Ideadata (Germany), Qosmos (France), Dynatrace (US), Sandvine (Canada), Extrahop (US), LiveAction (US) and LogRhythm (US). These market players have adopted various growth strategies, including partnerships, agreements, collaborations, and new product launches, to expand their presence in the market. Partnerships, collaborations, and agreements have been the most adopted strategies by major players from 2017 to 2019, which helped companies innovate their offerings and increase their customer base.

Solarwinds (US) is one of the global leaders in the network traffic analyzer market. The company offers solutions and services across the globe. Huge spending in Research and Development (R&D) has helped the company develop a robust portfolio of network-specific solutions and services. The company has been continuously upgrading its portfolio to keep up with the pace of the market with regular innovations in terms of products and solutions. It is focused on both organic and inorganic growth strategies to maintain its position in the market. In line with inorganic growth strategies, the company is more focused on collaborations and partnerships. Recently, Solarwinds introduced Flow Tool Bundle to its product portfolio. The company offers its customers with products and solutions to manage the performance of their Information Technology (IT) environments either on-premises, on the cloud, or through the hybrid deployment mode. The product Flow Tool Bundle enables the distribution, testing, and configuration of the net flow analyzer. It can be installed on Windows7, 8, and 10, Windows Server 2012 R2, 2016, and 2019. The company has its presence in its presence in Americas, Europe, Middle East and Africa (EMEA), Austria, Germany, and Switzerland (DACH), and Asia Pacific (APAC).

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Netscout (US) established itself as a global leader in the network traffic analyzer market by providing a comprehensive solutions portfolio to all its customers and pushing global network traffic analyzer adoption. The company provides real-time operational intelligence and performance analytics via network service assurance, cybersecurity assurance, network monitoring and analytics solutions, and Business Intelligence (BI) insights with smart data from the network traffic flow. The company has patented Adaptive Service Intelligence (ASI) technology through which it converts high value data into metadata or smart data. The company operates in infrastructure monitoring, SDx and cloud monitoring, Voice over Internet Protocol (VOIP) and video monitoring along with Distributed Denial of Service (DDoS) and threat prevention. To remain competitive in the market, the company focuses on introducing new products and solutions or product enhancements in the upcoming years. It also invests heavily in R&D to increase its existing market share. Recently the company upgraded its product portfolio, where the company enabled the nGeniusPULSE with new product enhancements. nGeniusPULSE’s new product capabilities enable network and application availability and performance over Wireless Fidelity (Wi-Fi) connections and Business Transaction Testing (BTT) that test performance within an application.

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