Network Packet Broker Market Trends

Growth Drivers

• Artificial intelligence's effects on the market for packet brokers- In the upcoming years, artificial intelligence (AI) is expected to drive the network packet broker business. By utilizing next-generation network packet brokers, businesses can become nimblers and match their IT strategy with their objectives. Furthermore, AI can assist IT teams in quickly identifying the network-based underlying cause of an application disruption. It is simple to identify the issues and quicker to put remedies into practice. It is anticipated that the application of AI technology will alter network configuration, optimization, and management. It makes it possible to automate monotonous and repetitive operations alike. As a result, market participants are embracing new growth opportunities and can soar to greater heights with the integration of AI. Big businesses were twice as likely to utilize AI in 2022 as small businesses. 53% of international IT businesses in 2022 said that AI use has increased during the preceding two years. AI is present in 77% of the gadgets that are in use today.
• Increasing technological advancements and research & development- Significant R&D initiatives and technology developments for the creation of cutting-edge wireless networking systems are anticipated to generate enormous market expansion prospects. Businesses are putting more and more effort into introducing sophisticated network packet brokers that function with the newest devices and innovations, like 5G and 4G LTE. More generally, it is anticipated that the rollout of 5G will coincide with a rise in global data consumption; estimates indicate that by 2028, mobile data traffic will reach about 330 exabytes per month, more than tripling the amount used in 2022.
• Positive impact of the COVID-19 pandemic- The network packet broker industry was driven by the COVID-19 outbreak. To maintain regular business operations throughout the critical phase of the pandemic, companies were compelled to modernize their digital platforms to design an appropriate system for employee communication and to offer a crisis management mechanism. With a focus on digital components and solutions, a strong networking infrastructure is necessary to guarantee high connection, which has led to the network packet broker market explosive growth.

Challenges

• Hefty upfront costs- The upfront costs associated with deploying and purchasing network packet brokers, together with the associated training costs for optimal utilization, may deter cost-conscious organizations. Two main barriers to adoption are the high cost of SaaS-based network monitoring systems and the dearth of professionals managing these solutions.
• It can be a little challenging to implement and integrate network packet brokers with the present network architecture. Ensuring seamless integration and operation poses a challenge for numerous firms.
• It is expected that the existence of independent servers will impede the network packet broker market growth.