Network Probe Market Analysis of Size and Economic Growth By 2028
Network Probe Industry Overview
The global network probe market size was valued at USD 0.50 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.3% from 2021 to 2028.
The market growth can be attributed to the increasing security concerns and network complexity. At the same time, the need to resolve network downtime issues and stress that occurs due to the exponential rise in IP traffic is accentuating the market growth. An increasing number of companies shifting toward the latest cloud-based technologies is also creating a need for established network frameworks. Network probe is a network traffic protocol and monitor analyzer that provides users with real-time data of network traffic status. It provides information on volume and type of network traffic and assists them in identifying potential bottlenecks and issues in the computer network. The increasing demand for managing networks among small businesses and IT departments is driving the market growth. Network monitoring tools enable users to monitor real-time as well as past network statistics by selecting a suitable time interval.
Gather more insights about the market drivers, restrains and growth of the Global Network Probe Market
The increasing incidence of cyber-attacks is contributing to the growing need for network probes. Network probes play a vital role in detecting cyber-attacks as it provides granular and context-rich network traffic visibility to users. This data enables businesses to improve their accuracy of threat detection. According to the statistics provided by Retarus, a corporate blog provider, in 2020, malware cyber threats increased by 358%, followed by ransomware, which accounted for 435%.
Increasing number of network-connected devices worldwide is also one of the major factors driving the market growth. Network probe is used for monitoring issues or connection failures that bottleneck the data flow in connected devices. According to the statistics provided by Cisco, network devices are expected to reach 29.3 billion by 2021 from 18.4 billion in 2018. Moreover, half of the network-connected devices across the globe, i.e.14.7 billion devices, would support the internet of things applications by 2023.
Network probes are gaining traction among small businesses as they enable them to prevent network outages, speed up troubleshooting, and optimize their IT infrastructure performance. Additionally, small businesses demand network probes for preventing cyber-attacks and, in turn, financial losses. According to the statistics provided by the U.S. Small Business Administration, 30.2 million small businesses in America are witnessing the risk of digital disruption and are expected to adopt a strategy for combating cyber-attacks.
Browse through Grand View Research’s Communications Infrastructure Industry Research Reports.
- Telecom Power Systems Market: The global telecom power systems market size was valued at USD 3.28 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.8% from 2021 to 2028.
- Data Center Substation Market: The global data center substation market size was valued at USD 9.02 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2021 to 2030.
Market Share Insights
- March 2021: Catchpoint, a provider of Digital Experience Monitoring, announced its integration with Google Cloud. Through this integration, the IT team of Google will be able to gain user-centric visibility of performance and infrastructure running on Google Cloud.
- March 2020: Cubro, a technology provider for network infrastructure, announced its partnership with SilverEngine, a software company. Through this partnership, the data extracted from the network probe of Cubrowould be used by SilverEngine to provide actionable insights on how to improve mobile network performance and subscriber’s experience.
Key Companies profiled:
Some of the prominent players in the global network probe market include:
- SolarWinds
- NETSCOUT
- Broadcom
- IBM
- Cisco
- Nokia
- Catchpoint
- Cubro
- Kentik
- NEC
Order a free sample PDF of the Network Probe Market Intelligence Study, published by Grand View Research.