In 2023, the global telemetry market was estimated to be worth US$ 135,354.5 million. Over the course of the projection period, it is anticipated to expand at an extraordinary Compound Annual Growth Rate (CAGR) of 11.2%, reaching an amazing US$ 392,452.1 million by 2033.
The sudden increase is a result of market expansion and demand returning to pre-pandemic levels with opportunities for profit. Because of the unprecedented and massive worldwide effect of COVID-19, demand has remained low everywhere despite the outbreak.
Telemetry is the wireless transfer and automatic data measurement from remote endpoints. In short, sensors at the source measure electrical or physical data, such voltage or current, or physical data, like pressure or temperature.
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The conversion of measurements to specific electrical voltages. A multiplexer combines these voltages with timing information to create a single data stream that is sent to a distant receiver. After being supplied, the data stream is divided into its basic components, and the data is displayed and handled in accordance with the user’s requirements. The rising need for telemetry is due to such advantageous elements.
The expansion of the network telemetry market has also been aided by the increasing strain on networking infrastructure brought on by work-from-home rules in response to the COVID-19 epidemic. For instance, with the implementation of worldwide quarantine measures in March 2020, Cloudflare recorded an increase in stress of over 25% on global fixed and wireless networks.
The rise of network telemetry applications is one significant development that has boosted expectations among rivals in the network telemetry market. To stay relevant and visible in the competition, this is why many businesses are eager to release new products.
As new applications materialize, it is projected that the network telemetry market will experience rising product demand. Businesses have spent money on recruiting personnel that will enable them to create high-quality, demand-specific products. The challenge is meeting demand in advance by manufacturing things earlier than planned.
If businesses reach the goal, they may maintain an advantage over their rivals. Businesses are continually searching for patterns that could help determine future consumer demand.
The need for a global network telemetry market is unnecessary if the use of digital devices is modest. Global network telemetry market items are increasingly likely to be used as the prevalence of digital devices increases. This significant trend has the potential to increase the market for network telemetry sales.
Key Takeaways:
- In the component sector, the solution from the network telemetry market is anticipated to flourish at the quickest CAGR of 14.6% through 2032.
- With a CAGR of 15%, service providers are predicted to grow significantly in the end-user sector of the network telemetry market.
- The market size for the network telemetry market in the United States is expected to reach US$ 525.3 Million by 2032, growing at a CAGR of 15% during the forecast period.
- United Kingdom is anticipated to reach a market size of US$ 70.9 Million in Network telemetry by 2032, with a CAGR of 14.3% during the forecast period.
- China’s Network telemetry market is anticipated to be worth US$ 87 Million by 2032, with a CAGR of 14.7% over the forecast period.
- Japan is expected to have a market size for Network telemetry of US$ 80.6 Million by 2032, with a CAGR of 14.2% during the forecast period.
- By 2032, South Korea is expected to reach a market size of US$ 52.9 Million in network telemetry, with a CAGR of 13.7% during the forecast period.
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COMPETITIVE LANDSCAPE:
Cisco Systems (US), Juniper Networks (US), Arista Networks (US), Mellanox Technologies (US), Pluribus Networks (US), Barefoot Networks (US), Solarflare Communications (US), and VOLANSYS Technologies are among the companies represented in the network telemetry market.
Cisco is one of the market leaders in the network telemetry market. Cisco’s Approach-Driven Telemetry in network telemetry allows data to stream constantly using a push model, allowing real-time access to operational analytics.
Model-Driven Telemetry may ensure that large amounts of data are genuinely accessible by modeling the data with YANG.
RECENT DEVELOPMENT:
- Arista Networks announced the introduction of CloudVision 2019, its management software, in September 2019. It allows for monitoring, automation, and management. Furthermore, it assists enterprises in lowering operating expenses, increasing network agility, and reducing hazards.
- Juniper Networks teamed with Telefonica, UK, in October 2019 to construct the Fusion Network, a secure and automated cloud-enabled network architecture. According to the agreement, Juniper Networks is Telefonica’s network Internet Protocol (IP) strategic partner.
- Mellanox Technologies teamed with VMware in August 2019 to deliver its Remote Direct Memory Access (RDMA) networking solutions to VMware for enabling its virtualized Machine Learning (ML) solutions to boost GPU efficiency and usage.
- Pluribus Networks collaborated with Vapor IO in May 2019 to implement Netvisor ONE OS 5.0 and Adaptive Cloud Fabric at numerous Vapor IO Kinetic Edge locations in Chicago, US. According to the terms of the agreement, Vapor IO is expected to seamlessly connect its many edge data center sites with complete telemetry, sophisticated network services, and deep slicing across multiple data centers regardless of their geographic locations.
- Tofino 2, the second iteration of Barefoot Networks’ P4-programmable Tofino Ethernet switch of the Application-Specific Integrated Circuit (ASIC) family, was released in December 2018. Tofino 2 is compatible with Barefoot SPRINT and Barefoot Networks’ upgraded version of the industry-standard In-band Network Telemetry (INT), which provides fine-grained and intelligent real-time visibility of network traffic per packet.
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Key segments
By Components:
- Service
- Solutions
By End Use:
- Verticals
- Service Providers
By Organizational Size:
- Small & Medium Sized Enterprise
- Large Enterprise
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East & Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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