The new report by Expert Market Research titled, ‘Global Network Forensics Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global network forensics market, assessing the market based on its segments like solutions, services, application area, deployment modes, organization sizes, industry verticals, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 2.68 billion
• Forecast CAGR (2023-2028): 16.50%
• Forecast Market Size (2027): USD 6.71 billion
The rising application of network forensics in law enforcement agencies to curb the cases of cyber-attack, to put halt to criminal activities, and to reduce the chances of manipulating evidence, is driving the market growth. Meanwhile, the rising need for network forensics in the banking, financial services, and insurance sector, owing to the risk of frauds associated with the increasing adoption of high-tech computing devices and smartphones to carry out banking operations is anticipated to spearhead the market growth in the forecast period. Geographically, North America accounts for a significant share of the market owing to the strong foothold of major providers of network forensic software and services in the United States and Canada.
Industry Definition and Major Segments
Network forensics refers to the type of network technology which aims at the prevention and detection of network attacks. It is a sub-branch of digital forensics which investigates outside and inside network attacks. Moreover, network forensics also includes the monitoring and analysis of computing systems and network traffic to gather legal information, evidence, and detection of intrusion.
On the basis of solution, the market can be segmented into:
• Intrusion Detection System (IDS)/Intrusion Prevention System (IPS)
• Security Information and Event Management (SIEM)
• Threat Intelligence
• Packet Capture Analysis
• Log Management
Based on service, the market has been bifurcated into:
• Professional Service
• Training and Education
• Design and Integration
• Support and Maintenance
• Incident Response Service
• Managed Service
The market can be segmented based on applications area into:
• Data Centre Security
• Endpoint Security
• Network Security
• Application Security
Based on deployment mode, the market can be bifurcated into:
On the basis of organization size, the market can be categorized into:
• Small and Medium Enterprises
• Large Enterprises
The significant industry verticals included in the market are as follows:
• Banking, Financial Services, and Insurance
• Energy and Utilities
• IT and Telecom
The regional markets for network forensics include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The key trends in the network forensics market include the increasing adoption of cloud-based network forensics software in medium and large enterprises. Meanwhile, the technological advancements in the manufacturing, and IT and telecom industry are anticipated to propel the market growth in the forecast period.
Moreover, the growing R&D activities by the firms to provide enhanced network forensic solutions are anticipated to propel the market growth in the coming years. In October 2019, Counterflow AI announced the introduction of Threat Eye, an open and scalable network forensic solution. Such developments are likely to boost the market growth in the forecast period.
Key Market Players
The major players in the market are IBM Corporation, Cisco Systems, Inc., Fireeye, Inc., Symantec Corporation, and Netscout Systems, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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