Network Forensics Market to Reach US$4,232.0 Million by the end of 2025; Increasing Cyber Security Threats to Make North America a Leading Region - TMR

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Jul 25, 2019, 12:30 ET

ALBANY, New York, July 25, 2019 /PRNewswire/ -- Network forensics deals with capturing, recording, and analyzing the network related events, to figure out the cause behind security attacks or similar situations related to them. Network forensics can be explained as particular analysis of the network, carried out after a security attack. Various methods are applied in network forensics. The two main methods implemented in network forensics are stop-look-listen and catch-it-as-you-can.

According to a recent report by Transparency Market Research, the global network forensics market is prognosticated to expand at a steady CAGR of 14.1% within the forecast period from 2017 to 2025. In 2016, the global network forensics market was valued around US$1,324.8 mn. This figure is likely to reach around worth of US$4,232.0 mn by the end of 2025.

Urgent Need for Tools to Stop Data Breaches to Fuel Growth in Global Market

Increasing security concerns and absence of security framework in the companies is one of the major aspects fueling the market. As indicated by Cost of Cyber Crime Study 2017 by Accenture, the number of breaches in a company per year has surged over 27% from normal 102 cyber-attacks to 130. Likewise, IT firms need relevant tools to satisfactorily explore and stop information breach. Subsequently, companies are searching for network forensics solutions to control increasing data breaches as well as improve application and network performance. In addition, players concentrate on network troubleshooting to reduce losses is additionally holding an important part in the development of network forensics market. But, absence of skilled employees is influencing the development of network forensics market, negatively across the world. Development in wireless technologies, increasing popularity of connected device, and deeper internet penetration, along with emergence of Internet of Things are providing new scope for network forensics solutions players, contributing in the development of global network forensics market.

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Geographically, North America is anticipated to lead the global network forensics market with share of over 30% by the end of forecast period. Asia Pacific trails the region. The development of network forensics in North America is inferable from rising cyber-security threats, particularly among banking and industries. Moreover, Asia Pacific is foreseen to have the highest CAGR over 15% within the forecast period, trailed by South America. The development of cloud based network forensics solutions is primarily because of rising demand regarding network forensics solutions in SMEs. China, Japan, and India are among the significant nations in the network forensics market in Asia Pacific. Likewise, growth in connected devices and increasing digitization has huge impact on the network forensics market in Brazil.

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The global network forensics market is at a budding level and is probably going to attain a strong foothold in the following couple of years. At present, the market is foreseen to be fragmented with the emergence of various players working over the globe. The market is estimated to encounter a considerable rise in competitive scene in the following couple of years. Innovative technologies and the advancement of new items are anticipated to make potential development scope for the players in future. Likewise, the release of new products is probably going to help the market growth in forthcoming years. Major players operating in global forensics market are VIAVI Solutions Inc., RSA Security, NIKSUN Incorporated, FireEye, Inc., IBM Corporation, LogRhythm, Inc., Symantec Corporation, Savvius, Inc., and Cisco Systems, Inc.

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This review is based on the findings of a TMR report titled "Network Forensics Market (Deployment Type - on premise, cloud based; Component - hardware, software, services; End use - BFSI, Telecom and IT, Government, Education, Healthcare, Retail) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025."

Market Segmentation:

Deployment Type

On premise
Cloud based

Component

Hardware
Software
Services

End-Use Industry

BFSI
Telecom and IT
Government
Education
Healthcare
Retail
Others

Geography:

North America

The U.S.
Canada
Rest of North America

Europe

The U.K.
Germany
France
Rest of Europe

Asia-Pacific

Japan
China
India
Rest of Asia Pacific

Middle East and Africa (MEA)

GCC Countries
South Africa
Rest of the Middle East & Africa

South America

Brazil
Rest of South America

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SOURCE Transparency Market Research