Network Data Analytics Market – Lucrative Opportunuty Across Globe

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.

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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.

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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.

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Pragati Pathrotkar

Pragati’s longstanding experience in the field of market research is reflected in her insightful news articles on business, science, and technology as presented on Edition Truth. Her interest lies in understanding the ramifications of cultural diversity, green behavior, ecommerce, economic progress, and technical consciousness on these increasingly consumer-oriented industries. Her understanding of digital marketing techniques gives her news stories an engaging twist.

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