The network probe market valued at USD 557.4 million in 2023, and it will reach USD 1,139.1 million by 2030, at a rate of 10.9% between 2024 and 2030.
This has a lot to do with the increasing count of network connected devices globally, the fast-growing acceptance of software solutions and monitoring tools to decrease complexities in the IT infra, and the increasing requirement for centralized monitoring systems.
The solutions category, has the larger share, due to the rising demand for these tools from numerous industries, such as BFSI, ICT & media, aerospace & defense, public services, and telecom.
These solutions provide a numerous services allowing network administrators and engineers for gathering important info pertaining to the network performance, for detection of security threats and guarantee the smooth operations of the telecom infra.
Small & medium Enterprises will grow faster at a rate of over 11.5% by the end of this decade. This is because of the increasing use of advanced technologies, for example cloud computing, SDN, AI, and IoT, by them to advance their operational efficacy.
Furthermore, SMEs are making the use of these solutions and services to competently manage and enhance their intercommunication infra, simplify management, and be ahead of all the competitors, powered by network probes’ advantages for example scalability, affordability, and flexibility.
The BFSI category has a considerable share in the network probe market, as a result of the increasing emphasis on cybersecurity. With the increase in the requirement for the real-time traffic monitoring, along with its apt analysis and apt management, for the sensitive nature of monetary transactions and data, these probes are used for attaining the best performance, transparency, safety, and compliance.
The requirement for these solutions is further encouraged by the industry's continuing digital revolution and growing investments in infra that allows the disposition of cutting-edge technologies.
Furthermore, as the industry is accepting pioneering technologies, such as mobile banking, cloud computing, and IoT, these solutions have a crucial role to play in delivering comprehensive network visibility and management.
North America dominated the industry, with a share of about 55%, in 2023, chiefly because of the region's fast expansion of internet connectivity and widening uses for network performance metrics.
This is because of the existence of numerous top companies across industries that have a robust commitment to monetary stability and a need for precise and reliable performance monitoring solutions, for protecting, monitoring, and enhancing performance.
It is because of the increasing number of network-connected devices all over the world, the demand for network probe solutions is on the rise.
