Research Nester’s recent market research analysis on “Network Telemetry Solutions Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global network telemetry solutions market in terms of market segmentation by type, components, deployment type, end-use, organizational size, application, and by region.
Growing Research & Development to Carve Way for Innovation to Promote Global Market Share of Network Telemetry Solutions
An increase in network attacks and security failures, as well as the need to deal swiftly with issues of interrupted service, is predicted to lead to increased demand for network telemetry solutions. Cybersecurity statistics say that every day 2 200 cyberattacks occur, with an average attack happening at a rate of 39 seconds. In the United States, it costs 9.44 million dollars per data breach; and cybercrime is expected to be worth $8 trillion by 2023.
In addition, significant market opportunities for network telemetry vendors are expected to emerge over the next five years due to a need to address massive network performance data and emerging technologies such as the Internet of Things or software-defined networking (SDN). By 2025, there will be 97 million people working in the field of artificial intelligence across the globe. The size of the artificial intelligence market is estimated to increase by a minimum of 120% per year.
Some of the major growth factors and challenges that are associated with the growth of the global network telemetry solutions market are:
Growth Drivers:
· Surge in R&D investment to Carve the Way for Innovation
· Rising complexity associated with procurement, presenting many opportunities for small businesses
Challenges:
The market will be hard to grow because of its lack of technological know-how. It is not known if this technology exists for some sectors that will restrict market expansion. Furthermore, it will become harder to do so as a consequence of the absence of business activity resulting from the coronavirus epidemic. Complexities related to the development of cloud deployment models, lack of awareness in emerging regions and compatibility issues caused by the proliferation of legacy network systems are some of the major factors anticipated to hamper the global market size of network telemetry solutions.
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By components, the global network telemetry solutions market is segmented into service and solutions. The service segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. There has been an increasing number of companies and service providers that are now adopting network telemetry solutions which leads to demand for advisory services, integration, and equipment installation as well as training support and maintenance throughout the world. The services offered by the network monitoring company are to assist its customers in ensuring that they have optimal use and maintenance of network telemetry solutions. The mission of the services shall be to train and develop technical expertise so as to upgrade software or platforms at a rapid pace, while assisting customers in integrating them with other IT solutions. Over the next 20 years, worldwide IT spending is expected to rise by about USD 4.66 trillion.
By region, the Europe network telemetry solutions market is to generate the highest revenue by the end of 2036. The market is expected to grow due to the increasing adoption of telemetry solutions for cloud network analysis and security management in the region. Moreover, it has been further stimulated by an increasing use of telemetry technologies for the purpose of facilitating data center virtualization in the United Kingdom and Germany. In order to efficiently manage the networks and reduce breaches of security regulations, European cloud dwellers are increasingly adopting telemetry technologies that have an impact on market growth.
This report also provides the existing competitive scenario of some of the key players of the global network telemetry solutions market which includes company profiling of Juniper Networks, Arista Networks, Mellanox Technologies, Pluribus Networks, Barefoot Networks, Solarflare Communications, VOLANSYS Technologies, Nokia Corporation, IBM Corporation, and others.
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