According to a new market research report " Network Telemetry Market byComponent (Solution and Services), Organization Size, End User (ServiceProviders (Telecom Service Providers, Cloud Service Providers, and ManagedService Providers), Verticals), and Region - Global Forecast to 2024",published by MarketsandMarkets, the global Network Telemetry Market size isexpected to grow from USD 140 million in 2019 to USD 704 million by 2024, at aCompound Annual Growth Rate (CAGR) of 38.1% during the forecast period.
Primary factors expected to drive the growth of the NetworkTelemetry Market are an increasing need for in-depth visibility into networksecurity and Quality of Service (QoS), and growing network infrastructure.Exponential growth in the global Internet Protocol (IP) traffic and cloudtraffic, and prominence of the Internet of Things (IoT) are further expected tooffer vast market opportunities for network telemetry vendors in the next 5years.
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Large enterprises to hold a larger market size during theforecast 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 andnetwork management problems in a better manner. In today’s Information Technology(IT) era, network management solutions and services should be customized andshould adhere to the policies of large enterprises. These solutions andservices should be self-adaptive and virtualized. Network telemetry solutionsand services enable large enterprises to manage their day-to-day network-basedbusiness operations.
CSPs to record the highest CAGR during the forecast period
In the Network Telemetry Market by service provider, CloudService Providers (CSPs) are expected to register the highest CAGR during theforecast period. Trends in cloud computing are reaching new heights, withgrowing data consumption and increasing mobility. Consumers and enterprises optfor cloud services for backup and storage, and various other businessprocesses, owing to increased security, mobility scalability, and elasticity,as well as cost efficiency. The cloud infrastructure plays a critical part inthe business processes of organizations.
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North America to hold the largest market size during theforecast period
North America is expected to hold the largest market size inthe global Network Telemetry Market during the forecast period. North Americais a frontrunner in terms of technology adoption and digitization of society.Enterprises and service providers in this region are continuously changingtheir network infrastructure to cope with advanced technologies. The rapidchanges in IT infrastructure, such as cloud and virtualization, havesignificantly increased the pressure on network administrators to manage thenetwork infrastructure. This is expected to increase the demand for networktelemetry solutions across verticals and service providers. Furthermore,technological advancements, such as 4G and 5G technologies, encourage telecomproviders to adopt network telemetry solutions at every layer of the network.
Key and emerging Network Telemetry Market players includeCisco Systems (US), Juniper Networks (US), Arista Networks (US), MellanoxTechnologies (US), Pluribus Networks (US), Barefoot Networks (US), SolarflareCommunications (US), and VOLANSYS Technologies (US).
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