Data analytics (DA) is the procedure of exploring various data sets so as to carry out a detailed analysis of the available information, with the help of specialized software and systems. Data analytics techniques and technologies are widely used in the commercial sector to enable enterprises to make more-informed business decisions and guide the researchers and scientists to disprove or verify scientific theories, hypotheses, and models. Networks are a core part of the functionality of any enterprise and hence it becomes important for an organization to understand its network functioning so as to improve the process efficiency, enabling them to make data-driven and smarter decisions about their businesses. Network data analytics, therefore, involves the analysis of network data and analyze the statistics to identify the ongoing patterns and trends.
The market for network data analytics is estimated to grow, majorly due to the extensive requirement for solutions that can improve operational data resiliency, efficiencies, and timely information related to infrastructure. However, the high cost of these solutions is preventing its adoption amongst small & medium enterprises, thus acting as a restraint for the market. Region-wise, the global network data analytics market is segmented into North America, South America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA). Growth in North America is majorly supported by Canada and the U.S., attributed to the presence of leading players in these countries. The U.S and Canada are projected to drive the growth of the market also due to rising investments in R&D of companies and technological advancements in the data analytics industry. The Asia Pacific is expected to create significant market opportunities for key players operating in the global network data analytics market due to the significant growth in industrialization in this region.
Tags : Network Data Analytics, scientific theories, hypotheses,