Network Probe Market is Expected to Reach $1.4 billion by 2031: Says AMR

Increase in demand for cloud services and development of new data center infrastructures across the globe is driving the growth of the global network probe market. By component, the solution segment held the major share in 2021. By region, LAMEA would cite the fastest CAGR by 2031.

Portland, OR , Feb. 01, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global network probe market was estimated at $508.7 million in 2021 and is expected to hit $1.4 billion by 2031, registering a CAGR of 10.6% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Forecast Period 2022–2031
Base Year 2021
Market Size in 2021 $508.7 Million
Market Size in 2031 $1,384.25 Million
CAGR 10.61%
No. of Pages in Report 202
Segments Covered Component, Deployment Model, Organization Size, End Use Vertical, and Region.
Drivers Growing adoption of cloud computing and the internet of things (IoT)
Rise in need of automated network visibility and preventing downtime and network performance failure
Increasing demand for continuous network probes due to the rise in network complexities and security concerns
Restraints Lack of awareness regarding the network probe market
Opportunities The rise in ICT spending
The surge in internet penetration

Covid-19 scenario-

  • The COVID-19 pandemic impacted the overall economy and network probe market. Companies are accelerating their digital transformation, and cyber security became a major concern. The reputational, operational, government, and compliance implications could be considerable if cyber security risks are neglected.
  • The information technology on which all the companies have long depended their data centers, cloud systems, departmental servers, and the digital devices their now-remote employees used to stay connected to each other and the company’s data becomes even more vital.
  • The demand for the network probe market had skyrocketed. Companies had to provide network probe services that included the process of visualizing, monitoring, optimizing, troubleshooting, and reporting on the health and availability of the network as experienced by users.

The global network probe market is analyzed across component, deployment model, organization size, end use vertical and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.

By component, the solution segment held the largest share in 2021, garnering more than three-fourth of the global network probe market revenue, and is projected to maintain its dominance by 2031. The same segment would also showcase the fastest CAGR of 11.19% during the forecast period.

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By deployment model, the cloud based segment contributed to nearly three-fifth of the global network probe market share in 2021, and is projected to rule the roost by 2031. The same segment would also display the fastest CAGR of 11.28% throughout the forecast period.

By organization size, the large enterprise segment accounted for the highest share in 2021, generating around three-fourth of the global network probe market revenue. The SMEs segment, simultaneously, would portray the fastest CAGR of 13.44% during the forecast period. The IT & telecom services, government, banking, financial services, and insurance (BFSI), and other segments are also analyzed through the report.

By region, North America held the major share in 2021, garnering more than two-fifth of the global network probe market revenue. The LAMEA region would showcase the fastest CAGR of 11.35% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.

The key market players analyzed in the global network probe market report include Broadcom Inc., Cisco Systems, Inc., Cubro Network Visibility, IBM Corporation, Microsoft Corporation, Nokia Corporation, NetScout, Plixer, LLC, Paessler AG, and SolarWinds Worldwide, LLC. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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