CHICAGO, Nov. 24, 2022 /PRNewswire/ -- The global
Network Probe Market size is expected to grow
from USD 549 million in 2022 to
USD 908 million by 2027, at a CAGR of
10.6% during the forecast period, according to a new report
by MarketsandMarkets™. Enterprises are interested in network
probe solutions and services as they provide wide range of
benefits, including reduced CAPEX and OPEX, improved workforce
productivity, and enhanced security.
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By end users, enterprises are expected to register the
fastest growth rate during the forecast period.
The Enterprises use network probes for bandwidth monitoring,
application monitoring, IP traffic management, and real-time
visibility to make decisions that add value to their businesses.
Enterprises are increasingly investing in new and latest
technologies, such as AI, ML, analytics, edge computing, and hybrid
and multi-cloud technology. The demand for subscription-based
SD-WAN and WLAN services has increased over the last few years as
the subscription-based model manages the entire IT network
infrastructure, thereby enabling enterprises to focus on core
business objectives.
By end users, BFSI is estimated to account for the largest
market share in 2022
BFSI is a highly regulated industry vulnerable to malicious
attacks and fraudulent activities. These companies face distinctive
challenges, including economic risks such as loss of financial data
and customer information for internal and external transactions in
case of network failure. These networks are exposed to threats
because of network tampering or cyber-attacks, which may lead to
network failure or financial instability. To overcome the
distinctive challenges, 24×7 network connectivity and flawless
network availability are crucial, which can be done by continually
monitoring and analyzing the required network. Therefore,
discrepancies in the BFSI sector can be controlled by real-time
network visibility, which can be enabled by employing network probe
solutions.
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Asia Pacific is likely to
emerge as fastest-growing market during the forecast period
Asia Pacific is projected to be
the fastest-growing market for network probe solutions due to the
adoption of new technologies, rising investments in digital
transformation, and growing GDP in the Asia Pacific countries. Developed economies,
such as China, Japan, India,
and South Korea, which are the
most technologically advanced, are the highest contributors to the
Network Probe Market in the region. The region also constitutes
major economies, such as Singapore, and Australia. The growing security attacks such
as malware, virus, and DoS on enterprise networks contribute to
market growth. This has led to enterprise customers' rapid adoption
of network monitoring solutions in fast-growing countries such as
China, Japan, and Australia. Japan and China are technologically advanced countries
in the region and undisputed leaders in the Network Probe Market.
However, the growth of the APAC market is fragmented, and several
local players have been making contributions to this market,
thereby resulting in the highly competitive ecosystem of the APAC
Network Probe Market.
Market Players
The major vendors covered in the Network Probe Market
include SolarWinds (US), NETSCOUT (US), Broadcom (US), IBM (US),
Cisco (US), Nokia (Finland), NEC
(Japan), AppNeta (US), Catchpoint
(US), Accedian (Canada), Paessler
(Germany), ManageEngine (US),
Progress (US), Nagios (US), Dynatrace (US), HelpSystems (US),
Riverbed (US), ExtraHop (US), Micro Focus (UK), Cubro (Austria), Plixer (US), Kentik (US),
ObjectPlanet (Norway), Flowmon
(Czech Republic), Qosmos
(France), Radcom (Israel), Firstwave (Australia), and 3Columns (Australia).
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