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“Growing need of organizations to protect business operations from Distributed Denial-Of-Service (DDOS) attacks, along with adherence to meet compliance and regulatory norms related to data protection laws across several verticals, is driving the overall growth of the deep packet inspection and processing market.”
The deep packet inspection and processing market size is expected to grow from USD 8.7 billion in 2019 USD 12.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.9% from 2019 to 2024. The rising adoption of advanced electronic devices, and changing business models and technological advancements are projected to stimulate the growth of the deep packet inspection and processing market during the forecast period. The need to comply with various governance standards and adhere to different policies and regulations is expected to surge the use of deep packet inspection and processing solutions across the globe.
By component, the services segment to grow at a higher CAGR during the forecast period
deep packet inspection and processing services have become a necessity for integrating and managing solutions across business operations. These services help enterprises by managing and ensuring the smooth functioning of deep packet inspection and processing solutions over a time period. The growing virtualization across industries and increasing adoption of cloud computing are promoting the demand for deep packet inspection and processing solutions in various countries. Moreover, deep packet inspection and processing installations help organizations to analyze dynamic network communication in real-time, assisting organizations in managing more number of suppliers, partners, and vendors.
By vertical, the IT and telecom vertical to hold the significant market size in 2019
The rapid transition of enterprises from on-premise solutions to cloud, storage of data on external data centers, and mobility are raising cyber threats in this vertical. The vertical also makes the intensive use of network performance management and optimization solutions to ensure improved Quality of Service (QoS) and Quality of Experience (QoE). To ensure the safety of critical infrastructure and technological innovation, IT service providers and telecom organizations are increasing cybersecurity budgets significantly, aligning business strategies with cybersecurity plans, and creating cyber awareness programs for employees and customers. APAC to register the highest growth rate during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period and is becoming a new hotspot for deep packet inspection-based application and service vendors as a revenue-generating region. Major trends influencing the growth of the market in this region are the increasing network traffic in the APAC region, continuing growth in the mobile network, increasing complexity of businesses, and rising adoption of Bring Your Own Device (BYOD). Countries such as China, Singapore, and Japan are expected to capture significantly large market size in the APAC deep packet inspection and processing market, due to rapid digitalization in the industry verticals present in these countries.
Companies operating in APAC would benefit from flexible economic conditions, industrialization--motivated policies of the governments, as well as the awareness of cybersecurity, which is expected to have a significant impact on the business community.
- By Company Type: Tier 1 – 25%, Tier 2 – 55%, and Tier 3 – 20%
- By Designation: C-level – 50%, Directors – 30%, and Others – 20%
- By Region: North America – 55%, Europe – 25%, APAC– 15%, and RoW – 5%
Major deep packet inspection and processing market vendors include IBM (US), Cisco Systems (US), Extreme Networks (US), Juniper Networks (US), Symantec (US), SolarWinds (US), Viavi Solutions (US), NetScout (US), LogRhythm (US), Qosmos (France), Cubro Network Visibility (Austria), Lionic Corporation (Taiwan), Trovicor (Taiwan), Netronome (US), Sandvine (Canada), Huawei (China), Bivio Networks (US), Ipoque (Germany), and ManageEngine (US). The deep packet inspection and processing market study includes an in-depth competitive analysis of these key market players, along with their profiles, recent developments, and key market strategies.
The market study covers the deep packet inspection and processing market size across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, types, deployment modes, organization size, verticals, and regions. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall deep packet inspection and processing market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. It would also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.