The network forensic market is progressing extensively. The enterprise network is becoming more complicated due to the growing congestion of network traffic associated with the adoption of BYOD and connected devices. This, as a result, leads to increasing cyberattacks vulnerabilities, such as malware, ransomware, and distributed denial of Service (DDoS). Growing cyberattacks that affect businesses drastically by breaching confidential data that turn out as financial loss to the organizations escalates the market growth.
According to Market Research Future (MRFR), the global network forensic market is poised to touch the valuation of USD 3.12 BN by 2023, growing at 17.4% CAGR throughout the assessment period (2017–2023). Besides, the increasing network-related attacks and cybersecurity breaches, alongside the rising optimization of network infrastructure and increasing numbers of businesses, drive the growth of the market. Moreover, the growing need to protect network layers from advanced cyber threats accelerates the market demand.
Additionally, the increasing adoption of real-time forensic tools to monitor network traffic and protect the network from cyberattacks influences the growth of the market. Rising demand for network forensic solutions from leading service providers, such as cloud service providers, telecom service providers, managed service providers, and key enterprises, substantiates market growth.
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Network Forensic Market – Segmentation
The report is segmented into six dynamics;
By Component : Solutions (intrusion detection system, security information, event management (SIEM), threat intelligence, packet capture analysis, log management, firewall management, others) and Services (professional and managed services).
By Deployment : On-Cloud and On-Premise.
By Application : Data Center Security, Endpoint Security, Network Security, Application Security, Email Security, Cloud Security, and others.
By Organization Size: Small and Medium Sized Enterprises and Large Enterprises.
By Vertical : Automotive, Banking & Finance, Education, Energy & Utilities, Government, Healthcare, Retail, Hospitality, Manufacturing, Industrial, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Network Forensic Market – Regional Analysis
North America dominates the global network forensic market. The region witnesses massive adoption of network forensic tools. The key market share attributes to the presence of several notable players and early adoption of advanced cybersecurity solutions. Besides, continuous investment and demand for optimized network infrastructure drive the growth of the network forensic industry.
Moreover, rising cyberattacks and huge R&D investments in developing & improving security intelligence technologies, influence market growth. The US accounts for the major network forensic market share due to the rising technological upgrades. The North American network forensic tools market is projected to retain its dominance throughout the estimated period.
Europe stands second in the global network forensic market. The market growth is driven by the growing need to resolve cybersecurity issues. Additionally, the increasing adoption of on- cloud services in the region creates substantial market demand. The UK holds a larger market share, followed by Germany and France. The European network Forensic market is predicted to show immense growth over the assessment period.
The Asia Pacific network forensic market is emerging as a promising market globally. Factors such as the extensive implementation of cloud-based technologies across various verticals and increased adoption of digital technologies influence market growth. Moreover, burgeoning industries, such as IT & telecom, especially in the economically and technologically developing countries such as China, Japan, and India, foster the market share of the region.
Moreover, increasing numbers of enterprises and massive demand for advanced solutions that comprehensively increase real-time data access push the market growth. The APAC network forensic market is projected to create a substantial revenue pocket during the review period, offering significant growth opportunities.
Network Forensic Market – Competitive Analysis
The well-established network forensic market appears fragmented due to the presence of several key players. To gain a competitive advantage, players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product launch. These players focus on innovations and the development of new solutions, fueling the already intensified market competition.
Players leading the network forensic market include Cisco System Inc (US), IBM Corporation (US), FireEye Inc (US), LogRhythm (US), Corero Network Security (US), Dell Technologies (RSA Security LLC), Viavi Solutions (US), Symantec Corporation (US), Trustwave Holdings Inc (US), AT & T (Alien Vault Inc.), and Packet Forensics LLC (US), among others.
Industry/ Innovation/ Related News
September 17, 2020 — Palo Alto Networks, Inc. (the US), a leading global cybersecurity company, announced the completion of the acquisition of The Crypsis Group, a leading IT service management company. Crypsis Group offers incident response, risk management, and digital forensics consulting services. The acquisition would further strengthen Palo Alto Networks Cortex™ platform with expert services for incident response and proactive assurance.
The integration of Crypsis Group’s security consulting and forensics capabilities would strengthen Cortex XDR’s ability to collect rich security telemetry, manage breaches, and initiate rapid response actions, enabling Alto Networks to provide incident response and forensic consulting capabilities at scale.
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