Network probe market projected to reach $1642.78 million by 2032, driven by cybersecurity demand.
From GlobeNewswire: 2025-01-22 09:00:00
The Network Probe Market was valued at USD 625.12 Million in 2023 and is projected to reach USD 1642.78 Million by 2032 with a CAGR of 11.4%. Factors driving growth include complex IT infrastructures, rising network traffic, and increased cybersecurity awareness. The U.S. alone recorded over 32,000 cyberattacks in 2023, highlighting the need for advanced network probe solutions.
Major players in the market include SolarWinds, NETSCOUT, Broadcom, IBM, Cisco, Nokia, NEC, AppNeta, Catchpoint, Accedian, Paessler, ManageEngine, Progress, Nagios, Dynatrace, HelpSystems, Riverbed, ExtraHop, Micro Focus, and Cubro. The solutions segment accounted for 64% of revenue in 2023, while the service segment is expected to grow at a CAGR of 12.17% due to increased demand for managed services and consulting solutions.
In terms of end-use verticals, the IT and telecom services sector dominated the market in 2023, accounting for 32% of revenue. The BFSI sector is expected to experience the highest growth rate with a projected CAGR of 13.02% during the forecast period. North America led the market in 2023 with a 37% market share, while the Asia Pacific region is the fastest-growing with a projected CAGR of 12.82% from 2024-2032. The Asia Pacific region’s increasing complexity with hybrid cloud models and remote work environments will fuel growth in the network probe market. Recent developments include Broadcom facing an EU complaint and IBM enhancing hybrid cloud capabilities with HashiCorp tools. The market analysis covers key points like segmentation, competitive landscape, and regional analysis. SNS Insider offers consulting services like Go To Market Assessment and Competitive Benchmarking to help clients navigate changing market dynamics. SNS Insider is a leading market research and consulting agency providing clients with current, accurate market data to make confident decisions.
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