According to Cost Of Cyber Crime Study 2017 by Accenture, successful breaches per company every year has risen more than 27% from average 102 attacks to 130. Also, IT organizations lack necessary tools to adequately investigate and stop data breaches.
There has been an increasing demand for network forensics in various organizations. It is the skill to scrutinize, at a network level, events happening or that have already occurred across an IT system.
Presently, growing security concerns and lack of security infrastructure among enterprises is one of the key factors driving the market for network forensics. Market Research Hub (MRH) has freshly publicized a study titled “Network Forensics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” to its massive archive, which offers major insights, analysis, and valuable guidance on the prospects of global network forensics market.
The report further also integrates imperative factors propelling the market expansion, available opportunities for key market participants, and trends & developments molding the market dynamics.
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Key Takeaways from the Network Forensics Market
Network forensics solution involves the collection, storage and analysis of network traffic. In this study, the analyst of the report has found that increasing organization focus on network troubleshooting to avoid revenue losses is playing an important role in the growth of this market.
As per the active research evaluations, the global network forensics market was worth US$ 1,324.8 Mn in 2016 and is anticipated to reach US$ 4,232.0 Mn by 2025, escalating at a remarkable CAGR of 14.1% from 2017 to 2025.
Moving further, the research highlights opportunities present in the market on the basis of a regional analysis which includes Latin America, North America, Europe, Asia Pacific and MEA. It has been analyzed that in 2016, North America was holding the largest market share for network forensics because of the growing cybersecurity threats among government and banking sectors.
In the coming years, Asia Pacific is expected to have the highest CAGR value of more than 15%, followed by South America.
For a deeper understanding, network forensics market is divided into key segments, namely deployment type, component, end-use industry. On the basis of the deployment type, the network forensics market has been further segmented into on-premise and cloud-based.
As per the report, the cloud-based deployment model inclines to be more preferred among users. On the basis of the component segment, the network forensics market has been divided into hardware, software and services.
Amongst, the software segment is expected to have the uppermost market revenue share by 2025. Major end-users are BFSI, Telecom & IT, Government, Education, Healthcare, Retail, and Others.
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At last, a vital section covering competitive landscape has been featured in the research study which covers profiles of key companies, along with a strategic overview of their M&A and expansion plans across geographies. Key players profiled in this study include IBM Corporation, LogRhythm, Inc., Symantec Corporation, RSA Security, FireEye, Inc., NIKSUN Incorporated, Savvius, Inc.
NETSCOUT Systems Inc., VIAVI Solutions Inc., and Cisco Systems, Inc.
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