Global Network Forensics Market Size to Reach USD 8.83 Billion in 2032 | Emergen Research
Rising demand for organizations to protect their networks and systems from cyber-attacks and breaches and need for improved incident response are factors driving market revenue growth
Vancouver, Aug. 29, 2023 (GLOBE NEWSWIRE) — The 2022 figures reveal that the global network forensics market achieved a substantial size of USD 2.75 Billion. The anticipated trajectory foresees a noteworthy compound annual growth rate (CAGR) of 12.3% throughout the forecast period. This analysis, sourced from Emergen Research, underscores the market’s robust expansion. A prominent catalyst behind this growth is the heightened demand for instantaneous monitoring and analysis. This surge is notably propelled by the mounting frequency and complexity of cyber-attacks. In light of the escalating threat landscape, organizations are proactively seeking avenues to promptly detect and counter security breaches. The avenue of real-time monitoring and analysis emerges as a linchpin in this pursuit. By adopting these practices, organizations can promptly discern security incidents, enabling swift responses that effectively curtail potential damage and associated repercussions.
Real-time surveillance and analysis stand as pivotal assets for a range of industries, spanning finance, healthcare, retail, and government sectors. This capability equips these sectors with the agility to promptly identify and address security incidents, effectively curtailing potential harm and ramifications. Furthermore, this proactive approach facilitates the identification and mitigation of Advanced Persistent Threats (APTs), a growing concern in the cybersecurity landscape. APTs, being prolonged and targeted assaults, pose a challenge due to their inconspicuous nature, often geared towards pilfering sensitive data or disrupting operations. The expedited monitoring and analysis functionality empowers organizations to intercept APTs before substantial damage is incurred.
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The upswing in adopting cloud-based services and embracing the Internet of Things (IoT) bolsters the need for real-time vigilance and scrutiny. These technological facets introduce new avenues for cyber-attacks to unfold. Consequently, the demand for real-time monitoring and analysis experiences a boost, reinforcing the network forensics market’s revenue. It’s noteworthy that substantial expenses related to deployment and maintenance could potentially temper the market’s growth trajectory. The implementation and sustenance of a network forensics solution necessitate considerable investments encompassing hardware, software, and skilled personnel. Organizations are tasked with acquiring and setting up specialized hardware and software, in addition to training personnel to proficiently operate and maintain the system. This financial outlay could be particularly challenging for small and medium-sized enterprises. Moreover, maintaining the efficiency of a network forensics solution carries a notable cost, encompassing routine system updates to align with emerging threats and vulnerabilities. Additionally, expenses linked to maintenance and support services are incurred to ensure optimal system functioning.
The intricacy associated with this technology poses an obstacle for small and medium-sized businesses, hindering their ability to effectively deploy and uphold network forensic solutions, thereby amplifying the overall cost. Furthermore, some entities might find it difficult to rationalize the expenditure on network forensic solutions when compared to alternative cybersecurity measures. In light of these financial considerations, certain organizations might opt against deploying network forensics solutions, potentially curbing the market’s revenue growth.
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Scope of Research
|Market size in 2022||USD 2.75 Billion|
|Revenue forecast to 2032||USD 8.83 Billion|
|Base year for estimation||2022|
|Quantitative units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Component, application, deployment mode, organization size, vertical, and region|
|Regional scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country scope||U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, U.A.E., South Africa, Turkey, and Rest of MEA|
|Key companies profiled||IBM Corporation, Cisco Systems, Inc., NetScout Systems, Inc., RSA Security LLC, VIAVI Solutions Inc., Novetta Solutions, LLC, SolarWinds Worldwide, LLC., SonicWall, LogRhythm, Inc., and Corelight, Inc|
|Customization scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global network forensics market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major companies are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, and developing, testing, and introducing more effective network forensics solutions. Some major players included in the global network forensics market report are:
- IBM Corporation
- Cisco Systems, Inc.
- NetScout Systems, Inc.
- RSA Security LLC
- VIAVI Solutions Inc.
- Novetta Solutions, LLC
- SolarWinds Worldwide, LLC
- LogRhythm, Inc.
- Corelight, Inc.
- On 17 January 2023, VIPRE Security Group, which is an award-winning worldwide cybersecurity, privacy, data, and user protection firm, announced the introduction of its latest cybersecurity product, VIPRE Endpoint Detection & Response (EDR). VIPRE EDR is intended to assist small and medium-sized businesses and their IT partners in navigating the intricacies of EDR administration from a single, simple console.
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Some Key Highlights From the Report
- The solutions segment is expected to account for largest revenue share over the forecast period. Network forensics solutions are software and hardware tools that are used to monitor, capture, and analyze network traffic in order to detect and investigate cyber-attacks and other security incidents. They are designed to help organizations protect their networks and systems from cyber attacks and breaches, and minimize the impact of any incidents that do occur. Network forensics solutions can provide visibility into network activity, identify suspicious patterns and anomalies, and respond quickly to potential threats. Security Information and Event Management (SIEM) systems are key components of network forensics.
- The endpoint security segment accounted for largest revenue share in 2022. Network forensics can be used to identify and investigate security breaches that originate from endpoint devices, such as laptops, smartphones, and other connected devices. This can include analyzing network traffic to identify suspicious activities, such as malware communication or unauthorized access to sensitive data, as well as collecting and analyzing endpoint device logs to identify the source of the security incident. By using network forensics in conjunction with other security measures, such as antivirus software and intrusion detection systems, organizations can more effectively detect, respond to, and prevent security incidents on their endpoint devices.
- On-premises segment accounted for largest revenue share in 2022. Demand for on-premise deployment of network forensics solutions has been rising in recent years as organizations become more concerned about data privacy and security. On-premise deployment allows organizations to keep their network data and logs on their own servers and storage devices, rather than relying on cloud-based solutions. This can provide organizations with more control over their network data and logs and can help ensure that sensitive data is not shared with third-party providers. One of the main factors driving demand for on-premise deployment of network forensics solutions is the concern about data privacy and compliance.
- The market in North America is expected to account for largest revenue share over the forecast period. Demand for network forensics in North America is rising as the number of cyber-attacks and data breaches in the region continues to increase. Network forensics is an important tool in identifying and investigating cybercrime, as well as in protecting against future attacks. As a result, companies and organizations in North America are investing in network forensics tools and services to help them detect and respond to cyber threats. In addition, government agencies in North America are also increasing their use of network forensics to combat cybercrime and protect national security.
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Emergen Research has segmented the global network forensics market on the basis of component, application, deployment mode, organization size, vertical, and region:
- Component Outlook (Revenue, USD Billion; 2019-2032)
- Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
- Security Information and Event Management (SIEM)
- Threat Intelligence
- Packet Capture Analysis
- Log Management
- Professional Services
- Training and Education
- Design and Integration
- Support and Maintenance
- Managed Services
- Professional Services
- Application Outlook (Revenue, USD Billion; 2019-2032)
- Data Center Security
- Endpoint Security
- Network Security
- Application Security
- Deployment Mode Outlook (Revenue, USD Billion; 2019-2032)
- Organization Size Outlook (Revenue, USD Billion; 2019-2032)
- Large Enterprises
- Vertical Outlook (Revenue, USD Billion; 2019-2032)
- Banking, Financial Services, and Insurance
- Energy and Utilities
- IT and Telecom
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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