Deep Packet Inspection and Processing Market Growing at a CAGR 5.9% | Key Player IBM, Cisco, Extreme Networks, Symantec, SolarWinds

April 29 14:44 2020
Deep Packet Inspection and Processing Market Growing at a CAGR 5.9% | Key Player IBM, Cisco, Extreme Networks, Symantec, SolarWinds

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), ManageEngine (US), and WiseSpot (Hong Kong)
Deep Packet Inspection and Processing Market by Component (Solutions and Services), Solution Type (Hardware and Software), Installation Type (Integrated and Standalone), Deployment Mode, Organization Size, Vertical, and Region – Global Forecast to 2024

The global Deep Packet Inspection and Processing Market is expected to grow from USD 8.7 billion in 2019 to USD 12.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 5.9% from 2019 to 2024. The continuous evolution of cyberattacks and need for network performance management and optimization solutions to efficiently manage today’s complex networking environments are some of the major driving factors for the deep packet inspection and processing market.

By organization size, the large enterprises segment to hold a significant share in the global deep packet inspection and processing market in 2019

Large enterprises are organizations that have more than 1,000 employees. These organizations invest heavily in advanced technologies for increasing overall productivity and efficiency. To reduce Capital Expenditure (CAPEX) and Operational Expenditure (OPEX) of infrastructure, large enterprises are widely opting cloud-based deep packet inspection and processing solutions. Large enterprises are expected to invest significantly in implementing advanced deep packet inspection and processing solutions that are capable of anomaly-based detection to provide optimum security to their intense competitive environment.

Large enterprises have adopted cloud security solutions, as they use a large number of cloud and Internet of Things (IoT)-based applications susceptible to cyberattacks. Moreover, as they face threats from targeted attacks to disrupt their Information Technology (IT) services, these organizations adopt deep packet inspection and processing solutions to provide effective security.

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Based on verticals, the IT and telecom vertical to hold a significant share in the global deep packet inspection and processing market during the forecasted period

IT and telecom is one of the major adopters of deep packet inspection and processing solutions. It has been a highly regulated and competitive industry that always processes a majority of the private data of its customers. The increased integration of ICT with the daily activities of industries, governments, families, and consumers, along with the increasing sophistication of cyberattacks, has led the telecom and IT vertical to focus more on their cybersecurity activities. Telecom organizations typically store personal data such as names, addresses, and financial data, which is a compelling target for cybercriminals or insiders. Thus, factors such as the use of Voice over internet protocol (VoIP) calls, storage of data on cloud services, mobility and cloud computing, and extensive use of platform-as-a-service in enterprises are expected to fuel the demand for deep packet inspection and processing solutions in the IT and telecom vertical.

The vendors covered in the deep packet inspection and processing market report 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), ManageEngine (US), and WiseSpot (Hong Kong). These players have adopted various growth strategies, including new product launches and product enhancements, partnerships, and acquisitions, to expand their presence in the deep packet inspection and processing market.

Product enhancements and partnerships have been the most adopted strategies by the major players from 2017 to 2019 to innovate their offerings and increase their customer base. Some of the prominent key players are therefore known to offer deep packet inspection and processing solutions to SMEs and large enterprises across verticals, such as banking, financial services, and insurance; government and defense; healthcare; IT and telecom; manufacturing; and retail. Some of the use cases along with the details of relevant deep packet inspection and processing solutions and their benefits, coupled with regulatory implications impacting the deep packet inspection and processing market, are showcased in this market study.

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The key players in the market have mainly adopted the strategy of new product launches and product enhancements to grow in the market. The strategy of new product launches and product enhancements accounted for the highest share, with more than 50% of the total strategic developments, in the global deep packet inspection and processing market in the last three years. Many key vendors adopted this strategy to avail the benefits of technology upgradation. SolarWinds, Viavi Solutions, NetScout, and Qosmos are some of the key market players who have adopted this growth strategy.

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