Network Forensics, Market Trends, Opportunities, Report 2024

The Business Research Company recently released a comprehensive report on the Global Network Forensics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The network forensics market size has grown rapidly in recent years. It will grow from $3.05 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to increased sophistication of cyber attacks, need for incident investigation and response, compliance and regulatory requirements, proliferation of network security threats, growth in digital data traffic.

The network forensics market size is expected to see rapid growth in the next few years. It will grow to $5.96 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The growth in the forecast period can be attributed to expansion of 5g networks, integration of artificial intelligence in network forensics, rise of iot and connected device threats, emphasis on threat hunting and proactive defense, increased focus on insider threat detection. Major trends in the forecast period include encrypted traffic analysis, cloud-based network forensics solutions, automation and orchestration in forensic investigations, integration with endpoint detection and response (edr), real-time network forensics for rapid response.

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Market Drivers and Trends:

The increasing incidence of cyberattacks and advanced threats is expected to propel the growth of the network forensics market going forward. Cyber-attacks refer to attempts to gain unauthorized access to a computer or a system, whereas an advanced persistent threat (APT) refers to a prolonged and targeted cyberattack in which an intruder gains access to a network and remains undetected for an ample period. Network forensics prevents cyber-attacks by capturing, recording, and analyzing network traffic and audit files. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, up from 13% from the previous year. Also, according to ESET Threat Report T2 2021, researchers found a 7.3% increase in email-based attacks between May and August 2021, the majority of which were part of phishing campaigns, a sca*m created by cybercriminals to steal financial resources. Therefore, the increasing incidence of cyberattacks and advanced threats is driving the network forensics market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Cisco Systems Inc., FireEye Inc., International Business Machines Corporation, LogRhythm Inc., NIKSUN Incorporated, RSA Security LLC, NetScout Systems Inc., Broadcom Inc., Blue Coat Systems, McAfee LLC, Viavi Solutions Inc., SolarWinds Inc., Gigamon Inc., Fidelis Cybersecurity Solutions LLC, Darktrace Limited, ExtraHop Networks Inc., Vectra AI Inc., Riverbed Technology Inc., Plixer International Inc., Cynet Ltd., Awake Security Inc., PacketSled Inc., Corelight Inc., Lastline Inc., Endace Limited, Xena Networks ApS, Garland Technology LLC, Greycortex s. r. o., Flowmon Networks a. s.

Network Forensics Market 2024 Key Insights:

• The network forensics market size is expected to see rapid growth in the next few years. It will grow to $5.96 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%.
• Rising Cybersecurity Concerns Propel Network Forensics Market Growth
• Enhancing Network Forensics Through IOT Integration For Advanced Cyber Threat Detection
• Asia-Pacific was the largest region in the network forensics market in 2023

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