(EMAILWIRE.COM, March 28, 2023 ) According to a research report published by MarketsandMarkets, the global Network Forensics Market size is expected to grow from USD 1.3 billion in 2022 to USD 2.2 billion by 2027 at a CAGR of 11.2% during the forecast period.
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Increasing data thefts and cyberattacks across enterprises, increasing traffic on network systems, and increasing demand for cloud-based network forensics solutions are some of the factors that are driving the market growth. However, lack of skilled expertise, lack of infrastructure to store all the data packets are some of the factors that are expected to hinder the market growth.
Major vendors in the global Network Forensics Market are Fireeye ([now Trellix], US), Cisco Systems (US), IBM Corporation (US), Broadcom Inc. (US), NETSCOUT Systems, Inc. (US), RSA Security, LLC (US), VIAVI Solutions (US), Novetta Solutions, LLC (US), SolarWinds Corporation (US), Palo Alto Networks, Inc.(US), SonicWall (US), OpenText Corporation (Canada), ManageEngine (US), LogRhythm, Inc. (US), NIKSUN (US), Corelight, Inc. (US), Securonix (US), and VectraAI, Inc. (US). Some emerging startups, such as LiveAction (US), Vehere, Inc. (US), Cysight.ai ([IdeaData], Israel), CorCystems (US), GrayLog, Inc. (US), and Endace Ltd. (New Zealand), are also included in the study.
By component, solution segment to hold the largest market size during the forecast period
Network forensics monitors network traffic to see if anomalies exist and whether they indicate an attack or could lead to one. The objective is to determine the attacks nature and then capture, store it in a forensically sound manner, analyze, and, finally, present some visual form of it.
Solutions that are used to assist network forensics come in a variety of forms: some are merely packet sniffers, whereas others might focus on fingerprinting, mapping, location identification, email traffic, URLs, traceback services, and honeypots. During the covid-19 pandemic, the rapid shift to the cloud places organizations in a precarious security position, which is why cyberattacks have increased. Cybercriminals are attacking the computer networks and systems of individuals, businesses, and even global organizations at a time when cyber defenses might be lowered due to the shift of focus to the health crisis. These attacks require network forensics solutions to understand the attack method and process to reduce the network vulnerability.
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By deployment mode, cloud deployment to grow at a higher CAGR during the forecast period
SMEs, in particular, have adopted cloud mode to deploy network forensics solutions, as it enables them to focus on their core competencies rather than to invest their capital in security infrastructure. Organizations can avoid costs related to hardware, software, storage, and technical staff by using cloud-based network forensics solutions. The cloud-based platform offers a unified way in the form of SaaS-based security services to secure the business applications, which is beneficial for organizations that have strict budgets for security investments.
North America to hold the largest market size during the forecast period
Major network forensics vendors, such as IBM (US), Cisco (US), FireEye (US), Broadcom (US), Palo Alto Networks (US), NETSCOUT Systems (US), and Viavi Solutions (US), are headquartered in North America. Due to the high adoption of IoT, BYOD, and cloud-based applications in North America, the attacks are increasing dramatically and becoming more sophisticated. The market has been steadily showing positive trends in the region regarding network security, as several companies and industries are adopting network forensics solutions to sustain in the market and increase their productivity. The key countries taken for analysis from North America are the US and Canada. The presence of key Network Forensics Market players in this region is a major factor responsible for the growth of this market.
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