As per findings of a new market research report by Persistence Market Research, worldwide sales of the network forensics market closed in on US$ 2 Bn in 2019, and are anticipated to exhibit a noteworthy CAGR of 12% during the forecast period of 2020 to 2030. Due to ever-increasing security breaches and cyber threats, organizations are adopting various security tools to secure their network data from cyber-attacks such as DDoS and zero-day. The adoption of security management services within organizations helps in event monitoring, content security, email encryption, and data security, which is propelling the growth of the network forensics market.
Impact of COVID- 19 Outbreak
The COVID-19 pandemic has impacted many organizations, and forced them to adopt new practices such as remote working and social distancing. The world is focused on the economic and health threats posed by COVID-19, and cyber criminals across the world are undoubtedly profiting from this crisis. As the coronavirus is spreading everywhere, most companies adopted work-from-home policies. As such, organizations need to ensure that their VPN services are reliable and safe, as the risk of attacks is more now than ever before. According to the PMR study, the demand for network forensics will increase by 8%-10% from organizations in 2020.
Key Takeaways from Network Forensics Market Study
- Among the applications, the network security segment is expected to witness high growth, due to the increasing adoption of information security measures that are influenced by organizations.
- PMR reports that, demand for network forensic tools within the healthcare industry is expected to exhibit a CAGR of more than 12% during the forecast period.
- Among the regions, the South Asia & Pacific region is exhibiting a high growth rate, owing to the high adoption of security solutions in small & medium enterprises across the region.
“The adoption of cloud network forensics can gain significant profits by offering multiple benefits with an on-demand access from remote locations. Organizations, including small- and medium-level enterprises, are turning towards the adoption of cloud storage security software, which is creating lucrative opportunities for the global network forensics market,” says a PMR analyst.
Find More Valuable Insights on Network Forensics Market
Persistence Market Research, puts forward an unbiased analysis of the global market for network forensics market, providing historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. To understand the opportunities in the network forensics market, the market is segmented on the basis of solution (intrusion detection systems (IDS) / intrusion prevention systems (IPS), security information and event management (SIEM), threat intelligence, packet capture analysis, log management, analytics, and firewall), service (professional services (consulting services, training and education, design and integration, and incident response), and managed services), application area (data center security, endpoint security, network security, application security, and others), deployment mode (cloud-based and on-premise), industry (banking, financial services, and insurance (BFSI), government, healthcare, energy and utilities, it and telecom, manufacturing, retail, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
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About PMR – Electronics, Semiconductor, and ICT Division
Expert analysis, actionable insights, and strategic recommendations – the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.