Data analytics (DA) is the procedure of exploring various data sets so as to carry out detailed analysis of the available information, with the help of specialized software and systems. Data analytics techniques and technologies are widely used in the commercial sector to enable enterprises to make more-informed business decisions and guide the researchers and scientists to disprove or verify scientific theories, hypothesis, and models. Networks are a core part of functionality of any enterprise and hence it becomes important for an organization to understand its network functioning so as to improve the process efficiency, enabling them to make data-driven and smarter decisions about their businesses. Network data analytics therefore involves the analysis of network data and analyze the statistics to identify the ongoing patterns and trends.
The market for network data analytics is estimated to grow, majorly due to the extensive requirement for solutions that can improve operational data resiliency, efficiencies, and timely information related to infrastructure. However, high cost of these solutions is preventing its adoption amongst small & medium enterprises, thus acting as a restraint for the market.
The global network data analytics market is segmented based on end user, deployment type, industry vertical, analytic model, and region. Based on end user, the market can be segmented into large size enterprises and small and middle size enterprises (SME’s). Large size enterprises are expected to have a major share in the network data analytics market due to their rising awareness with respect to quality of processes and cost cutting. On the basis of deployment type, the market is segmented into cloud and on-premise. The cloud based deployment segment is anticipated to grow at a substantial rate. This is mainly due to the increasing adoption of cloud-based solutions along with increasing scalability offered by network data analytic solutions. Based on industry vertical, the market can be bifurcated into IT & telecommunication, healthcare, government, hospitality, BFSI, retail, and others. Based on analytic model, the global network data analytics market can be segmented into predictive analytics, descriptive, and prescriptive model.
Region wise, the global network data analytics market is segmented into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). North America is estimated to have maximum share in the global network data analytics market followed by Europe. Growth in North America is majorly supported by Canada and the U.S., attributed to the presence of leading players in these countries. The U.S and Canada are projected to drive the growth of the market also due to rising investments in R&D of companies and technological advancements in the data analytics industry. However, among all the regions, Asia Pacific is expected to create significant market opportunity for key players operating in the global network data analytics market due to the significant growth in industrialization in this region. In APAC, countries such as Japan, South Korea, India, China, Singapore, etc. are contributing to the growth of the network data analytics market. This is mainly due to the initiatives taken by the governments in these countries to support the growth of small and medium scale enterprises.
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The players in the global network data analytics market are investing a great deal in research and development operations to come up with advanced and innovative technologies. Several companies are still working on developing explicit customized solutions for end users. Key players in the global network data analytics market include LiveAction, Cisco Systems, and Hewlett Packard Enterprise Development LP. Explosive growth in the number of network data analytics solution providers coupled with extensive developments in data analytics are expected to take place in the coming few years due to the enormous potential offered by the market. Key players in the network data analytics market are prominently focusing on introduction of advanced services and solutions in order to strengthen their position and improve their customer base in the market.