Network Forensics Market worth $2.2 billion by 2027, growing at a CAGR of 11.2%: Report by MarketsandMarkets™
Chicago, Dec. 22, 2023 (GLOBE NEWSWIRE) -- *The global **Network Forensics Market size is expected to grow from $1.3 billion in 2022 to $2.2 billion by 2027 at a CAGR of 11.2% during the forecast period, according to a new report by MarketsandMarkets™.*
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*393-Tables
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304 - Pages
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.
*Network Forensics Market Dynamics:*
*Drivers:*
· Increasing data thefts and cyberattacks to promote network security transformation across enterprises
· Increased network traffic and network systems complexity to demand advanced network forensics solutions
· Increased demand for cloud-based network forensics solutions across verticals
*Opportunities:*
· Rise in demand for integrated and next-generation network forensics solutions
· Rapid evolution in mobile, IoT and web applications
· Increase in use of AI/ML and analytics to provide better network visibility into IT infrastructure
*Restraints:*
· Lack of skilled network forensics investigators
· Lack of data infrastructure to support advanced technologies to drive advanced network forensics tools’ adoption
*List of key players in* *Network Forensics Market:*
· 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)
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*Trend: Impact of increasing growth of IoT devices on Network forensics market*:
According to the “2016 Symantec Internet Threat Report,” there are 25 connected devices per 100 people, and billions of IoT devices are expected to be connected in the upcoming years. This survey shows the increased usage of IoT applications in organizations. These applications are integrated into various devices and platforms to let users interact with each other as well as outside the organization. Therefore, cybercriminals attack these applications to get sensitive business information. Vulnerabilities in these applications lead to data breaches and network intrusions. Billions of devices are getting connected together, creating complexities in the networks. This leads to an increasing number of organizations turning toward network forensics to implement and remediate security threats as efficiently as possible. Today’s network forensics investigators are capable of recovering the information that have been deleted or encrypted. They also help enterprises analyze the network traffic to detect security breaches.
*Trend: Awareness in regional market about Network forensics*:
Several countries in North America, Europe and Asia Pacific are increasingly adopting advanced security solutions and services to combat network attacks. In January 2021, law enforcement authorities from multiple countries, including the US, the Netherlands, the UK, and Germany, took down the Emotet botnet infrastructure in a coordinated operation that was designed to disrupt arguably for one of the most prolific malware operations in the recent history. Growing exploitation by hackers asking for ransom is a major cause for the growing demand for network forensics solutions in the European region so that agencies can track down these attacks to prevent the organizations from these attacks. In Asia Pacific, Singapore is one of the prominent network forensics market. With the expansion in the usage of public cloud technologies, many enterprises in Singapore are looking to switch their core applications to the cloud. NTT’s Global Threat Intelligence Center (GTIC) stated that web application and application-specific attacks were the most common type of attacks in Singapore during COVID-19. Such instances could prove to be an attractive market for network forensics vendors in the country. Therefore, organizations are aware of network forensics solutions to protect their networks. The adoption rate for network forensics solutions is expected to rise in upcoming years in this region.
*Opportunity: Technological advancement in Network forensics by integrating AI/ML into solutions*:
Network forensics investigators are incorporating AI, ML, and analytics concepts into their solutions for addressing critical vulnerabilities with faster threat detection, mitigation, and response capabilities. The advancements in technologies, such as AI and ML, are turning the tides against vulnerabilities. AI and ML-based network security platforms help organizations provide comprehensive security features to their network infrastructure. AI methods are extremely capable of learning and solving complex computational problems due to their uses for learning and reasoning. With ML being the core technology, AI systems have made remarkable achievements in solving increasingly complex computational tasks, and network forensics investigators can take forward ANN in pattern recognition.
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