The global network probe market was valued at USD 557.4 million in 2023, which is expected to reach USD 1,139.1 million by 2030, progressing with a CAGR of 10.9% during 2024–2030. This can be due to the increasing number of network-connected devices, the COVID-19 pandemic's positive impact on internet traffic, the surging need for centralized monitoring solutions, and the rising importance of cybersecurity.
Enterprises are expanding their network infrastructure and facing challenges in managing the additional network layer. As a result, there is a shift toward centralized approaches using visualized dashboards. These dashboards provide a comprehensive view of the infrastructure, enabling monitoring of various aspects such as bandwidth, application traffic, network traffic analysis, and performance analysis. This has led to increased adoption of network monitoring tools and software solutions by enterprises and service providers.
The COVID-19 pandemic has boosted the market for network probes, due to the increased internet traffic and a higher reliance on them for monitoring network performance and security in the work-from-home environment. The rising occurrence of cyberattacks has also driven the demand for network probe solutions. Small businesses, IT departments, and enterprises adopting cloud-based technologies are seeking these solutions to protect their data, prevent network disruptions, resolve issues quickly, and enhance IT infrastructure performance.
The services category is expected to experience the higher CAGR over the forecast period. This can be because consultation services associated with network probes help businesses address challenges and capitalize on opportunities related to their networking infrastructure. These services assist in aligning and prioritizing operational, networking, and business needs strategically. Moreover, companies in this industry offer comprehensive services, including assessment, strategic planning, deployment, and design, as well as ongoing management and monitoring.
Large enterprises are the faster-growing category in the segment of organization size, driven by the increased investments by these companies in addressing cyberattack concerns. These enterprises face challenges in geographically dispersed and cloud-based environments, making them vulnerable to cyber threats. Consequently, there is a growing need for network monitoring solutions to mitigate these risks.
Cloud is the faster-growing deployment mode category, due to the growing emphasis on the benefits such as scalability, cost efficiency, flexibility centralized management, integration with cloud services, rapid deployment, and geographic redundancy provided by cloud-based solutions. These have made cloud computing a more promptly available option and widely adopted by various enterprises.
Service providers category is the larger market, based on the end user segment. This is due to the rising demand for advanced network technology, fueled by the increasing adoption of 5G and the Internet of Things (IoT). Also, service providers require network probes to effectively monitor and analyze network performance, security, and quality.
Moreover, the growing amount of data flowing through data centers has also created a need for enhanced network monitoring tools. Thus, service providers are focusing on building robust network infrastructures to deliver superior performance, security, and visibility, ultimately aiming to provide an enhanced subscriber experience and gain a competitive advantage.
APAC is the fastest-growing market for network probes, advancing at a CAGR of over 11.3% in the coming years. This can be due to significant investments in network infrastructure, the presence of prominent IT and telecommunications companies, the increasing IP traffic, the growing network complexities, and the rising popularity of SaaS-based network monitoring solutions in the region. Moreover, APAC's businesses, particularly SMEs, are adopting network probe solutions to address the growing volume of data and cyber threats, especially in countries like China, India, Japan, and South Korea.
Some of the key network probe service & solution providers are Accedian Networks Inc., Broadcom Inc., Catchpoint Systems Inc., Cisco Systems Inc., Dynatrace LLC, ExtraHop Networks Inc., FirstWave Cloud Technology Limited, IBM Corporation, Nagios Enterprises LLC, NEC Corporation, NetScout Systems Inc., Nokia Corporation, Paessler AG, Riverbed Technology LLC, and SolarWinds Worldwide LLC.