Network Probe Market Registering A CAGR Of 12.3% By 2028

Posted by rahul nikade on November 29th, 2022

Network Probe Industry Overview

The global network probe market size is expected to reach USD 1.24 billion by 2028, registering a CAGR of 12.3% from 2021 to 2028 according to a new report by Grand View Research, Inc. Network probes help businesses to understand the protocols being used in the network that hosts the sending and receiving of data, the location of network traffic, and others. Thus, companies are widely adopting network probes for getting in-depth visibility of their network, which is driving the growth of the market.

Network Probe Market Segmentation

Grand View Research has segmented the global network probe market based on component, deployment, enterprise size, end use, and region:

Based on the Component Insights, the market is segmented into Solution, Services.

• The solution segment led the network probe market and accounted for over 56.0% share of the global revenue in 2020. Network probe solutions enable businesses to monitor network traffic, which includes evasive and encrypted traffic.
• The services segment is anticipated to register the highest growth over the forecast period. Network probe consulting services help businesses in addressing the challenges and opportunities of networking infrastructure. They also help businesses in strategically interlinking and prioritizing the operation, networking, and business requirements.

Based on the Deployment Insights, the market is segmented into Cloud, On-premise.

• The on-premise segment dominated the market and accounted for over 61.0% share of the global revenue in 2020. On-premise network monitoring provides a higher level of control on the network compared to cloud-based solutions.
• The cloud segment is expected to register the highest growth over the forecast period. The segment growth can be attributed to the businesses' growing adoption of cloud-based software to eliminate the hassle and expense of managing a system.

Based on the Enterprise Size Insights, the market is segmented into Large Enterprises, Small & Medium Enterprises.

• The large enterprises segment dominated the market and accounted for over 53.0% share of the global revenue in 2020. Large enterprises operating in environments such as geographically distributed locations, cloud as a services infrastructure, and others are prone to challenges such as cyber-attacks, thus creating a need for network monitoring solutions. 
• The small and medium enterprises segment is expected to register the highest growth over the forecast period. Many small and medium businesses are adopting the bring your own device and internet of things trends to stay competitive in the market.

Based on the End-use Insights, the market is segmented into Service Providers, Enterprises.

• The enterprises segment dominated the market and accounted for over 59.0% share of the global revenue in 2020. The demand for network probes is high in BFSI as the sector lays great emphasis on efficiently meeting customer needs and providing consistent and reliable services.
• The service providers segment is anticipated to register the highest growth over the forecast period. Service providers are experiencing an increase in demand for enhanced network technology due to the rise in adoption of 5G and internet of things, which has further created an increasing demand for network probes.

Network Probe Regional Outlook 

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly fragmented in nature. The players operating in the market are focused on strategies such as partnerships, mergers, and acquisitions. For instance, in March 2020, Cubro, a technology provider for network infrastructure, announced its partnership with SilverEngine, a software company.

Some prominent players in the global network probe market include

• SolarWinds
• NETSCOUT
• Broadcom
• IBM
• Cisco
• Nokia
• Catchpoint
• Cubro
• Kentik
• NEC

Order a free sample PDF of the Network Probe Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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