The global network telemetry market revenue stood at $200 million in 2020 and it is predicted to rise significantly during 2021–2030 (forecast period). The factors driving the expansion of the market are the surging digitalization rate, soaring prevalence of network security attacks, increasing adoption of network telemetry solutions by many service providers and organizations such as consultancy providers and telecom firms, and the burgeoning requirement for the optimization of network infrastructure.
 |
| Network Telemetry Market Analysis and Demand Forecast Report |
In recent years, the incidence of cyberattacks has increased massively, primarily because of the surging penetration of the internet across the world. During these attacks, the servers and networks of organizations are penetrated and confidential data is stolen, thereby causing huge losses. Moreover, many programmers are hacking into computers and stealing data from various sources such as from the internet of things (IoT) gadgets that are commonly used in a centralized network.
Browse detailed report - Network Telemetry Market Analysis and Demand Forecast Report
Thus, in order to protect confidential data and prevent cyberattacks, many businesses and organizations are rapidly adopting network telemetry solutions and services, thereby causing the expansion of the network telemetry market. Besides this, the growing requirement for the optimization of the network infrastructure, on account of the mushrooming need for solving downtime issues and increasing internet traffic, is also fueling the growth of the market. For example, when network devices send real-time data to multiple locations, the system becomes overloaded and unavailable for a certain period of time, which causes downtime.
Depending on end user, the market is categorized into cloud service providers, telecom service providers, and managed service providers. Out of these, the telecom service providers category dominated the market in 2020, and this category is expected to demonstrate rapid expansion during the forecast period as well. This is ascribed to the increasing adoption of network telemetry solutions by many telecom service providers such as Telefonica UK Limited for optimizing and managing the network infrastructure.
When component is taken into consideration, the network telemetry market is classified into services and solutions. Of these, the services category is predicted to exhibit the faster growth in the forthcoming years. This will be because of the rapid advancements being made in technologies such as artificial intelligence (AI), surging requirement for optimized network infrastructure, and growing adoption of network telemetry solutions by enterprises. This is subsequently propelling the demand for training, consulting, and maintenance services.
Geographically, North America dominated the network telemetry market from 2015 to 2020 and the market will expand massively in this region in the upcoming years as well, as per the forecast of the market research firm, P&S Intelligence. This will be because of the existence of several market players in the region such as Arista Networks Inc., Pluribus Networks Inc., and Juniper Networks Inc. Additionally, the strong competition in the North America industry and the growing adoption of various advanced technologies such as the IoT and AI by enterprises are also contributing to the market expansion in the region.
Hence, it can be said without any hesitation that the demand for network telemetry solutions will surge in the coming years, mainly because of the increasing incidence of network security attacks and rising need for an optimized network infrastructure across the world.
