According to a research report "Deep Packet Inspection and Processing Market by Component (Solutions and Services), Solution Type (Hardware and Software), Installation Type (Integrated and Standalone), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets, the global deep packet inspection and processing market size is expected to grow from USD 8.7 billion in 2019 to USD 12.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.9% from 2019 to 2024. The major factors driving the deep packet inspection and processing market include the continuous evolution of cyberattacks and their corresponding security solutions, need for modern network performance management and optimization solutions. The growing need to meet compliance requirements, increasing advancements in the communication technology, and soaring need to counter fraudulent activities in several verticals are fueling the demand for installing deep packet inspection and processing solutions in various organizations across the globe.
Browse 164 market data Tables and 34 Figures spread through 181 Pages and in-depth TOC on "Deep Packet Inspection and Processing Market- Global Forecast to 2024"
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North America to hold the largest market share during the forecast period
North America dominates the global deep packet inspection and processing market, as the growth in the region is being driven by the rising internet penetration and increasing adoption of cloud-based and IoT applications across verticals. Moreover, North America tops the world in terms of security breach incidents. Therefore, the global market is dominated by North America that is considered to be the most advanced region with regard to cyber technology adoption and infrastructure.
Other factors pushing the deep packet inspection and processing market in this region are enormous usage of smart handheld devices, rapidly growing eCommerce, and friction among the competing countries in different regions. The strict announcement by the US government that no funding would be allocated to business projects unless cybersecurity is properly addressed in the mission is also arousing a sense of cyber awareness among the businesses in North America.
Market Players
The major vendors covered in the Deep Packet Inspection And Processing Market include IBM (US), Cisco Systems (US), Extreme Networks (US), Juniper Networks (US), Symantec (US), SolarWinds (US), Viavi Solutions (US), NetScout (US), LogRhythm (US), Qosmos (France), Cubro Network Visibility (Austria), Lionic Corporation (Taiwan), Trovicor (Taiwan), Netronome (US), Sandvine (Canada), Huawei (China), Bivio Networks (US), Ipoque (Germany), ManageEngine (US), and WiseSpot (Hong Kong).
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Product enhancements and partnerships have been the most adopted strategies by the major players from 2017 to 2019 to innovate their offerings and increase their customer base. Some of the prominent key players are therefore known to offer deep packet inspection and processing solutions to SMEs and large enterprises across verticals, such as banking, financial services, and insurance; government and defense; healthcare; IT and telecom; manufacturing; and retail. Some of the use cases along with the details of relevant deep packet inspection and processing solutions and their benefits, coupled with regulatory implications impacting the deep packet inspection and processing market, are showcased in this market study.
The key players in the market have mainly adopted the strategy of new product launches and product enhancements to grow in the market. The strategy of new product launches and product enhancements accounted for the highest share, with more than 50% of the total strategic developments, in the global deep packet inspection and processing market in the last three years. Many key vendors adopted this strategy to avail the benefits of technology upgradation. SolarWinds, Viavi Solutions, NetScout, and Qosmos are some of the key market players who have adopted this growth strategy.
• In September 2019, Enea launched Qosmos Probe 2.1, a Deep Packet Inspection (DPI) sensor that enables advanced cyber threat detection and forensics. It can also be integrated with open-source and commercial cybersecurity solutions.
• In May 2019, Extreme Networks launched the ExtremeAI Security application, which leverages artificial intelligence and machine learning to identify and remediate advanced threats against IoT devices.
• In February 2019, Cisco completed the acquisition of Singularity Networks, a network infrastructure analytics company. This acquisition will help Cisco provide improved network performance, cost- efficiency, more visibility, and less downtime to its clients.
• In January 2019, IBM partnered with Juniper Networks to manage Juniper Network’s existing infrastructures, which include data centers, help desks, and data and voice networks. As per this partnership, IBM would combine its services platform with Watson to manage Juniper Network’s IT infrastructure.
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