The global network forensics market was valued at US$ 1,324.8 Mn in 2016 and is expected to expand at a CAGR of 14.1% from 2017 to 2025, reaching US$ 4,232.0 Mn by the end of the forecast period. North America will continue to be at the forefront of global demand, with the market growing at a CAGR above 12%. The growing network traffic and stringent adoption of government regulations, and rise of connected devices have a significant impact on the growth of network forensics market.
Growing security concerns, lack of security infrastructure among enterprises and increasing organization focus on network troubleshooting to prevent revenue losses is playing an important role in the growth of this market. As enterprise are doing more with network and it tends to become more and more complex, the visibility into network traffic has decreased. Also, IT engineers are finding it difficult to troubleshoot network outages leading to loss of company’s productivity and revenue. So, organizations are using network forensics solution for monitoring and troubleshooting networks.
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Network forensics market is divided into four segments, namely deployment type, component, end use industry and geographical regions. As per the report, the cloud based deployment model tends to be more sought-after among users. The growth of cloud based network forensics solutions is mainly due to its cost-effectiveness and increase in demand for network forensic solution within small and medium businesses. The cloud based segment is expected to grow at a CAGR of above 18% during the forecast period.
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The services segment is expected to grow at the highest CAGR among the component segment during the forecast period. Also, among the services segment, the consulting segment continues to hold the largest market share during the forecast period. Additionally, many end use industry verticals especially government and BFSI are looking for network forensics solutions to protect their critical infrastructure from cyberattacks. Also huge amount of public data is in play among government institutions, this data needs to be protected from being misused by cybercriminals. However, if data is damaged or stolen, network forensics helps in reconstructing its occurrence and prevent further damage.