Network Forensics Market Growing at a CAGR 11.2% | Key Player Fireeye [now Trellix], Cisco Systems, IBM Corporation, Broadcom Inc., NETSCOUT Systems, Inc.

Network Forensics Market Growing at a CAGR 11.2% | Key Player Fireeye [now Trellix], Cisco Systems, IBM Corporation, Broadcom Inc., NETSCOUT Systems, Inc.

“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).”
Network Forensics Market with Covid-19 Impact Analysis by Component (Solutions & Professional Services), Application (Endpoint Security & Data Center Security), Vertical, Deployment Mode, Organization Size, and Region – Global Forecast to 2027

MarketsandMarkets forecasts the network forensics market size to grow from USD 1.3 billion in 2022 to USD 2.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 11.2% from 2022 to 2027. 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.

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 attack’s nature and then capture, store it in a forensically sound manner, analyze, and, finally, present some visual form of it.

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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.

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.

According to MnM’s market evaluation framework, most companies opt for inorganic growth strategies to maintain their position in the market. The number of deals increased by around 60-70% relatively in 2020. These deals collectively include partnerships, acquisitions, collaborations, and alliances. Due to the COVID-19 outbreak, there was a sudden decline in product launches and business expansion activities. However, from 2021 onward, companies are expected to follow organic growth strategies to provide network forensics solutions and services to end users, which, on the other hand, would help companies in increasing their market revenue.

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What is Network Forensics?

Considering the sources and associations’ views on network forensics, MarketsandMarkets defined “Network forensics is the process of collecting and analyzing network data, traffic, and packets that flows between single and multiple channels in order to investigate cyber incidents.”

Competitive overview:

The network forensics market is led by some of the globally established players such as Cisco (US), Broadcom (US), Fireeye (US), Palo Alto Networks (US), NETSCOUT Systems (US), and Viavi Solutions (US). These players have adopted various growth strategies such as partnerships, agreements, collaboration, acquisitions and product developments to increase their market presence.

NETSCOUT, with more than 30 years of experience in network operations, has achieved a leading position in terms of application and network performance management products and solutions. The companys solutions enable real-time capturing, ordering, and analyzing the network traffic, enabling network administrators to have complete visibility and control over their network. The company provides its enterprise solutions in the segment, such as cloud application performance and security, performance management, cybersecurity, DDoS protection, 5G transformation. In the network forensics market, it has the solution named Omnis Cyber Intelligence, which is a cyber threat investigation and digital forensics platform. NETSCOUT Systems provides its solutions and services to diverse industry verticals, such as communication service providers, education, public sector, financial services, healthcare, capital markets, manufacturing, transportation, retail, and utilities & energy. The company has a strong presence in the regions of the Americas, Europe, and the Asia Pacific.

Apart from large and SME players, start-ups such as LiveAction (US), Vehere, Inc. (US), Cysight.ai ([IdeaData], Israel), CorCystems (US), GrayLog, Inc. (US), and Endace Ltd. (New Zealand) are also evolving in network forensics market space.

Founded in 2001, Endace works with world-leading organizations to provide 100% accurate network recording while simultaneously investigating network security and performance events and reaching unambiguous conclusions with definitive packet-level network history integrated into all their tools. The company helps its clients integrate the analytics tools they want and where and when they want, without requiring a hardware truck roll. The EndaceProbe Analytics Platform records a 100% accurate history of Network Activity that enables organizations to be sure of the breachs impact upon the IT infrastructure. With accurate network history integration, investigation and resolution of security threats enables teams to proactively hunt for threats. The company caters to the industries, such as the BFSI sector, telecom, media, healthcare, retailers, and government.

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