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Network Probe Market Size is USD 1393.01 Million by 2031 driven by the increasing complexity of networks

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The SNS Insider report indicates that The Network Probe Market was valued at USD 608.8 Million in 2023. It is estimated to reach USD 1393.01 Million by 2031 and grow at a healthy Compound Annual Growth Rate of 10.9% over the forecast period 2024-2031.

Growing Demand and Market Opportunities

The network probe market is flourishing due to several key factors. Firstly, the rising demand for network management solutions across small and medium-sized enterprises (SMEs) is a significant driver. Network probes empower SMEs to streamline their network infrastructures, improve business functions, and address security concerns. Network complexity is increasing, and SMEs often lack the budget for robust network security solutions. Network probes offer a cost-effective way to protect against digital threats and gain real-time network visibility for improved performance, security, and privacy.

The network probes offer comprehensive Layer 2 to Layer 7 flow classification and metadata extraction. This allows network administrators to effectively regulate traffic, identify bottlenecks and slowdowns, and troubleshoot network and application issues. Additionally, network probe solutions provide complete, real-time visibility into organizational network traffic, including encrypted and evasive traffic, which is crucial for securing hybrid IT networks that include Internet of Things (IoT) and Supervisory Control and Data Acquisition (SCADA) systems.

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 Major The Key Players of Network Probe Market

SolarWinds, NETSCOUT, Broadcom, IBM, Cisco, Nokia, Catchpoint, Cubro, Kentik, NEC, and other players

Segmentation Analysis

The network probe market can be segmented by organization size, component, deployment mode, vertical, and region. By organization size, SMEs are expected to dominate the market due to the growing network security concerns and the cost-effectiveness of network probe solutions. In terms of components, the solution segment is projected to hold the largest share due to the increasing demand for real-time information on device connections by telecommunication firms. Cloud-based deployment is anticipated to witness significant growth as businesses shift towards cloud computing solutions.

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Key Market Segments

By Component  

  • Solution
  • Service

By Deployment  

  • On-Premise
  • Cloud-based

By Organization Size  

  • Large Enterprise
  • Small and Medium Size Enterprise

By End-Use Vertical

  • IT
  • Telecom Services
  • Government
  • BFSI
  • Others

Impact of Russia-Ukraine War & Economic Slowdown

The ongoing conflict between Russia and Ukraine has disrupted the network probe market. Supply chain disruptions have led to price hikes and shortages, while the heightened focus on network security has increased demand for these solutions. Gartner estimates that the war will cause a 2% decrease in the market’s growth in 2023. Network testing solution providers like Ixia and Riverbed Technology have reported challenges in serving customers, potential cost increases, and extended lead times. The war has also created market uncertainty, leading to a potential dip in demand, particularly in Eastern Europe, the European Union, Eastern & Central Asia, and the United States. However, the long-term growth trajectory of the market is still positive.

An economic slowdown can potentially impact the network probe market by hindering investments in IT infrastructure. Businesses might prioritize essential spending and delay investments in network monitoring solutions. However, the long-term benefits of network probes, such as improved network performance, security, and cost savings, are likely to outweigh these short-term concerns.

Key Regional Developments

North America is expected to hold the largest market share due to the high adoption rate of network probe technologies in the United States and Canada. These regions boast strong economies that empower investments in R&D activities, leading to the development of new technologies. Additionally, network operators in North America are actively expanding and upgrading their telecom networks, transitioning towards 5G infrastructure. This push necessitates technologies like cloud edge computing and network slicing, further driving the adoption of network probe solutions and services.

Future Growth

The network probe market is anticipated to witness consistent growth driven by the increasing adoption of cloud computing, the proliferation of connected devices, and the growing need for proactive network management. Advancements in network probe technology, such as integration with artificial intelligence (AI) and machine learning (ML), will further enhance its capabilities and appeal to a wider customer base.

Recent Developments

In February 2023: Kentik, a leading network probe software provider, released a new version with support for Kubernetes and improved performance metrics. This signifies the ongoing innovation in the network probe market, catering to the evolving needs of businesses.

Network Probe Market
Network Probe Market

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Key Takeaways

The network probe market is expected to witness robust growth fueled by the rising demand for network management solutions across organizations.

Network probes offer cost-effective solutions for SMEs to improve network performance, security, and visibility.

The Russia-Ukraine war has caused short-term disruptions but the long-term growth trajectory of the market remains positive.

North America is expected to dominate the market due to high technology adoption and network infrastructure advancements.

The future holds promise for the network probe market with advancements in technology and increasing demand for proactive network management.

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