According to a research report "Network Telemetry Market demand is growing due to An increase in network attacks and security breaches and the growing need to quickly resolve downtime issues are major factors expected to drive the growth of the network telemetry market. Need to handle massive network performance data and emerging technologies, such as Internet of Things (IoT), Artificial Intelligence (AI), and Software-defined Networking (SDN) are expected to offer vast market opportunities for network telemetry vendors in the next 5 years. - Global Forecast to 2024" published by MarketsandMarkets. The network telemetry market size is expected to grow from USD 140 million in 2019 to USD 704 million by 2024, at a Compound Annual Growth Rate (CAGR) of 38.1% during the forecast period.
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Large enterprises to hold a larger market
size during the forecast period
By organization size,
Small and Medium-sized Enterprises (SMEs) are expected to grow at a higher
growth rate during the forecast period. Network management in large enterprises
enables them to solve their data and network management problems in a better
manner. In today’s Information Technology (IT) era, network management
solutions and services should be customized and should adhere to the policies
of large enterprises. These solutions and services should be self-adaptive and
virtualized. Network telemetry solutions and services enable large enterprises
to manage their day-to-day network-based business operations.
CSPs to record the highest CAGR during the
forecast period
In the network telemetry market by
service provider, Cloud Service Providers (CSPs) are expected to register the
highest CAGR during the forecast period. Trends in cloud computing are reaching
new heights, with growing data consumption and increasing mobility. Consumers
and enterprises opt for cloud services for backup and storage, and various
other business processes, owing to increased security, mobility scalability,
and elasticity, as well as cost efficiency. The cloud infrastructure plays a
critical part in the business processes of organizations.
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North
America to hold the largest market size during the forecast period
North
America is expected to hold the largest market size in the global network
telemetry market during the forecast period. North America is a frontrunner in
terms of technology adoption and digitization of society. Enterprises and
service providers in this region are continuously changing their network
infrastructure to cope with advanced technologies. The rapid changes in IT
infrastructure, such as cloud and virtualization, have significantly increased
the pressure on network administrators to manage the network infrastructure.
This is expected to increase the demand for network telemetry solutions across
verticals and service providers. Furthermore, technological advancements, such
as 4G and 5G technologies, encourage telecom providers to adopt network
telemetry solutions at every layer of the network.
Key
and emerging market players include Cisco Systems (US), Juniper Networks (US),
Arista Networks (US), Mellanox Technologies (US), Pluribus Networks (US),
Barefoot Networks (US), Solarflare Communications (US), and VOLANSYS
Technologies (US).
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