Network Traffic Analytics Market Segmentation:
Component
The software segment in the network traffic analytics market is predicted to dominate with a revenue share of 60 % in the upcoming future. The need for network traffic analytics software is being driven by the rising requirement for improved network management systems to address network traffic complexity and escalating cybercrime. The segment in the market is expanding due to the urgent requirement to guarantee communication is transparent at both the device and system levels.
End-User
The BFSI segment is expected to hold 38% share of the global network traffic analytics market. There is a significant client base for the BFSI sector services, which is backed by the existence of a substantial networking framework and crucial data. Therefore, this sector frequently experiences data breaches and cyber-attacks. The likelihood of these cyberattacks and data breaches has increased due to people's increasing preference for online and mobile banking, which has prompted banks and other financial institutions to adopt network traffic monitoring techniques. According to research, the average annualized cost of data breaches for businesses providing financial services has climbed to USD 18.5 million around the world. Financial institutions prioritize employing network traffic monitoring tools in their operations, which drives the BFSI sector market since it has a substantial influence on a company's reputation.
Our in-depth analytics of the global market includes the following segments:
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