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Network Packet Broker Market estimated to be worth $849.4 million by 2023

 



(IT-NEWSWIRE.COM, November 25, 2021 ) According to the new market research report "Network Packet Broker Market by Bandwidth (1 and 10 Gbps, 40 Gbps, 100 Gbps), End User (Enterprises (Large, Small and Medium–Sized), Service Providers, Government Organizations), and Geography - Global Forecast to 2023", The network packet broker market is expected to reach USD 849.4 million by 2023 from USD 585.4 million in 2018, at a CAGR of 7.73% between 2018 and 2023. The growth of the network packet broker market is attributed to the need for simplified data center management and automation, high demand for cloud services, and surge in internet multimedia content and web applications. The rising trend of bare-metal switches and growing bandwidth requirements in data centers are the key growth opportunities for the players in the network packet broker market. However, the presence of self-reliant enhanced servers inhibits the growth of the network packet broker market.

Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=229957221

1 and 10 Gbps bandwidth NPBs to hold largest share of market in 2018

During the current times, the adoption of 1Gbps bandwidth NPBs are declining, relegated to low-bandwidth applications and legacy devices. The most common type of NPBs now is 10Gbps. 10Gbps network packet brokers capture traffic from access switch uplinks and aggregation/core switches, which usually run at a speed of 10Gbps and higher. 1 and 10Gbps bandwidth network packet brokers are widely adopted across various sectors such as enterprises, telecoms, government organizations, and other service providers. Currently, network packet brokers with high bandwidth are gaining a lot of traction in the market. As a result, the prices for 1 and 10 Gbps NPBs have been declining, which drives the adoption of these NPBs for the optimum network development. It is owing to these factors, the market for 1- and 10-Gbps network packet brokers is expected to hold the largest market share in 2018.

“Enterprises to grow at the highest CAGR during the forecast period.”

Enterprises mostly rely on network traffic analyzer solutions to optimize their network infrastructure on a daily basis. Enterprises spend huge amounts of money on network resources to keep their network up and running all the time. This takes up a major portion of their time, leaving them with no time to form new strategies for the efficient use of network resource. Network packet brokers provide an effective way to manage and analyze the entire network, centralize, virtualize, and provide real-time applications and bandwidth management of the network to deliver critical business applications at a high speed. It is owing to these factors that the enterprises segment is expected to grow at the highest CAGR during the forecast period.

North America to hold largest size of network packet broker market by 2023

North America holds the largest market share, and the similar trend is likely to continue in the near future owing to the increasing IT capacity requirements and rising adoption of new data center technologies. The market in the US is expected to experience a high traction as a significant number of organizations are likely to opt for cloud services to save their upfront cost of building new data centers for business continuity. Also, the US is the home for global cloud service providers, as well as for the companies, such as Amazon Web Services (AWS) and Microsoft (US), that provide data center infrastructure. Moreover, key companies in the network packet broker market that account for more than half of the revenue are based in the US.

Gigamon (US), NetScout Systems, Inc. (NetScout) (US), Ixia (US), VIAVI Solutions, Inc. (Viavi Solutions) (US), APCON, Inc. (APCON) (US), Garland Technology (US), Cisco Systems, Inc. (Cisco) (US), Broadcom Inc. (Broadcom) (US), Juniper Networks, Inc. (Juniper Networks) (US), Big Switch Networks, Inc. (Big Switch Networks) (US), Zenoss Inc. (Zenoss) (US) are the major players in the network packet broker market. Other key companies, including innovators and start-ups in the network packet broker market, are Network Critical (UK), Corvil (Ireland), CALIENT Technologies, Inc. (CALIENT) (US), Netgear Inc. (Netgear) (US), and Motadata (US).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Source: EmailWire.Com



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