The global network telemetry market reached a value of $300 million in 2020, and it is predicted to expand rapidly between 2021 and 2030 (forecast period). The major growth drivers of the market are the growing digitalization rate, surging incidence of network security attacks, soaring adoption of network telemetry technologies by several service providers and organizations, including many consultancy and telecom providers, and mushrooming requirement for the optimization of the network infrastructure.
With the rising penetration of the internet, the prevalence of cyberattacks is surging across the globe. The networks and servers of various organizations are getting penetrated regularly. Moreover, many enterprises are recording the loss of critical data due to cyberattacks, which is causing them huge financial losses. Hackers are stealing sensitive information from several sources in a workplace, such as the internet of things (IoT)-connected gadgets, that are incorporated within a centralized network.
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Besides, the growing need for the optimization of the network infrastructure, owing to rapid digitalization and the burgeoning demand for reduced downtime, is also propelling the growth rate of the network telemetry market. When real-time information is transmitted to multiple locations by network devices, the system becomes unavailable for a short period of time, which causes downtime. To address this problem, network telemetry solutions are adopted for optimizing the network infrastructure.
Based on end user, the network telemetry market is divided into cloud service providers, telecom service providers, and managed service providers. Amongst these, the telecom service providers contributed the highest revenue to the market in 2020, and they are expected to register the highest growth rate throughout the forecast period. This is ascribed to the soaring adoption of network telemetry solutions by telecom service providing firms, such as Telefonica UK Limited, for managing and optimizing the network infrastructure.
When component is taken into consideration, the market is categorized into services and solutions. Of these, the services category is predicted to register faster growth in the forthcoming years. This is ascribed to the rapid advancements in artificial intelligence (AI) and other technologies, burgeoning need for optimized network infrastructure, and growing use of network telemetry solutions by enterprises, which is consequently pushing up the requirement for consulting, training, and maintenance services.
Globally, North America dominated the network telemetry market in the past, and it is expected to register rapid progress during the forecast period as well. This is attributed to the existence of several industry players, such as Arista Networks Inc., Pluribus Networks Inc., and Juniper Networks Inc., in the region. Additionally, the fierce competition in every industry and rapid adoption of advanced technologies, such as the IoT and AI, are also driving the demand for network telemetry solutions in the region.
Hence, it can be safely said that the demand for network telemetry solutions will shoot up all over the globe in the coming years, mainly because of the rising need for reduced downtime and optimization of the network infrastructure, owing to the rapid digitization of various business operations.
