Pune, India, Nov 2021, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Network Probe Market.
The overall network probe market is expected to register USD 455.97 Million in 2020 at a CAGR of ~13.8% during the forecast period. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the network probe market to offer a better glimpse into the coming years.
The major factors driving the growth of the network probe market are the growing adoption of cloud and IoT and the increasing demand for continuous network probes due to the rise in network complexities and security concerns. However, the lack of technical granularity is expected to hinder market growth to a certain extent. Nevertheless, growth in the demand for network monitoring tools among SMEs is expected to present lucrative growth opportunities for the market players.
The global network probe market has been segmented based on component, organization size, deployment mode, vertical, and region.
Based on the component, the network probe market has been segmented into solution and service. The solution segment is likely to have a higher growth rate during the forecast period. The solution segment offers telecommunication firms real-time information on device connections across the service area. The service segment consists of consulting, integration and deployment, and training and support. These services are crucial to the operation of network probe solutions, ensuring faster and easier deployment and maximizing the value of corporate investments. The increasing use of network probe software is projected to increase the need for consulting, integration, and deployment services.
By deployment mode, the network probe market has been segmented into cloud and on-premises. On-premises segment help user monitor network devices, SNMP servers, application servers, database servers, intranet portals. It monitors the resources behind the firewall. Cloud network probe service is used to monitor the quality of VPC network connections, including latency, packet loss rate, and other key metrics. Cloud-based network probe software provides a comprehensive range of agile and cost-effective software and services for the accurate, real-time delivery from worldwide inventory channels in order to accomplish on-time order fulfillment.
By organization size, the network probe market has been segmented into small and medium-sized enterprises (SMEs) and large enterprises. The adoption of network probe solutions is much higher in large enterprises than in SMEs as these organizations have a large web of networks and these firms typically consider purchasing network probe solutions that are integrated into network monitoring suites. Network probe helps companies of all sizes solve their business problems. Large enterprises are those that have 1,000 employees and/or over USD 1 billion annual revenue. These enterprises have many moving pieces that must be attended to. Small enterprises are organizations that have up to USD 50 million annual turnovers with up to 100 employees. On the other hand, mid-size enterprises are those organizations that have between USD 50 million and USD 1 billion in annual revenues. Mid-sized enterprises also have 100 to 1000 employees. SMEs in the region are implementing new technologies such as cloud, artificial intelligence (AI), software-defined networking (SDN), and the Internet of Things (IoT) to increase overall productivity.
By end users, the network probe market has been segmented into service providers and enterprises. The enterprises segment is further classified into BFSI, IT and ITeS, government, and others. The adoption of network probe solutions is much higher in the enterprises segment as the growing usage of a range of technologies in the BFSI, IT and ITeS, and government sectors are creating the need for vast amounts of sensitive data to be integrated, processed, and stored. A breach of such sensitive information might result in significant financial losses for a company. The expansion of technology in various industries, as well as developments in technology and system updates, has increased the complexity in monitoring and managing threats for in-house IT experts. Several businesses are facing a hurdle as a result of technological advancements combined with dynamic regulatory compliance in real time. Cybercrime occurs as a result of interconnected platforms and endpoints that rely on improved technologies, exposing security flaws.
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The global network probe market is characterized by the presence of several regional and local providers. Some of the key players in the market are SolarWinds Worldwide, LLC (US), NETSCOUT (US), Broadcom (US), IBM Corporation (US), Cisco (US), Nokia (Finland), NEC Corporation (Japan), AppNeta (US), Catchpoint (US), Accedian (Canada), Paessler AG (Germany), ManageEngine (US), Progress Software Corporation (US), Nagios Enterprises, LLC (US), Dynatrace LLC. (US), HelpSystems (US), Riverbed Technology (US), ExtraHop Networks (US), Micro Focus (UK), Cubro Network Visibility (Austria), Plixer, LLC (US), Kentik (US), ObjectPlanet, Inc. (Norway), Flowmon Networks a.s. (Czech Republic), and Enea Qosmos (France).
The regional analysis for the global network probe market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America accounted for the largest market share in 2020, and it is expected to register strong growth during the forecast period. The region is expected to have the largest market share in the network probe market as it is a mature and well-established market with a healthy risk appetite and a propensity for technological innovations, presenting a range of lucrative opportunities for network probe vendors and service providers. However, APAC is experiencing tremendous growth due to several factors, including the expansion of local businesses and government programs aimed towards AI developments.