Network Packet Broker Market Size, By Bandwidth (1 Gbps& 10 Gbps, 40 Gbps, 100 Gbps), End-user (Enterprises [Large Enterprises, SMEs], Service Providers, Government), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share &

Network Packet Broker Market Size, By Bandwidth (1 Gbps& 10 Gbps, 40 Gbps, 100 Gbps), End-user (Enterprises [Large Enterprises, SMEs], Service Providers, Government), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The network packet broker market is set to exhibit robust growth through 2028 on account of prevalent product adoption in key regions across the globe.

A network packet broker refers to a technology that includes a range of monitoring tools, also known as network packets, for accessing and analyzing traffic across a network. The packet broker gathers traffic from multiple network links and filters and distributes every individual packet to the proper network monitoring tool. Through this, these brokers ensure enhanced efficacy from network monitoring & security tools by providing better data from the network.

With growing cybersecurity demands, companies are aiming to incorporate virtual traffic, and higher traffic speeds as well as greater complexity of networks have prompted them to identify effective solutions to optimize performance. The integration of network packet brokers to collect, load balance, and optimize the traffic has been found to relieve any additional processing burden on tools, which enables firms to leverage those lower speed tools longer while facilitating peak performance. Increasing prominence of network packet brokers in augmenting cybersecurity measures of organizations has been favorable for market growth in recent years.

Notably, industry players have been implementing lucrative strategies to gain a competitive edge in the sector, thereby promoting the growth of the network packet broker market. For instance, in February 2022, Garland Technology, a major provider of packet broker solutions, inked a partnership agreement with Iris Networks, a leading specialist in network monitoring and visibility based in the UK, to extend its offerings to companies in the region.

To cite another instance, in June 2021, cPacket Networks Inc., a key company in the network packet broker industry, introduced two novel products viz., the cVu 32100E and the cVu 32100 network packet brokers. These products have been designed to offer high-performance, ultra-low-latency, high-density 100Gbps network visibility for the latest enterprise automation, high-performance computing requirements, and data center consolidation.

The network packet broker market has been bifurcated on the basis of bandwidth, end-user, and region. In the regional landscape, the Latin America network packet broker industry is slated to attain a market share of over 10% by 2028, expanding at a steady CAGR over the study timeframe. The growing cloud data center network across the LATAM region is likely to support market growth in the coming years.

Meanwhile, the Middle East & Africa network packet broker market is speculated to grow at approximately 5% CAGR through the forecast timeline to garner a sizable revenue by the end of 2028. Proliferation of IoT devices across MEA is projected to fuel regional market progress in the future.