Network Detection and Response Market is Expected to Witness High...

Network Detection and Response Market is Expected to Witness High Growth Due to Rise in sophisticated Cyberthreats

نشر بتاريخ 2024-03-22 12:44:52

1كيلو بايت

The network detection and response market consists of network monitoring tools used to detect known and unknown threats in real-time. These solutions help detect advanced threats like zero-day attacks, fileless malware, and lateral movement through continuous monitoring of network traffic. NDR solutions integrate with existing security infrastructure like next-generation firewalls, endpoint security solutions, and threat intelligence platforms to correlate events, alerts, and threat intelligence to identify true positives. The global adoption of digital transformation initiatives across industries has resulted in expanding attack surfaces, further driving the need for advanced network monitoring.

The Global Network Detection and Response Market is estimated to be valued at US$ 34.6 MN in 2024 and is expected to exhibit a CAGR of 16.% over the forecast period 2024 to 2031.

Key Takeaways
Key players operating in The Network Detection And Response Market are ABB, Xcel Energy Inc., EDF, National Grid Renewables, Acciona, Enel Spa, Innergex, The Tata Power Company Limited, General Electric, Invenergy. NDR solutions from these players integrate network, endpoint, and threat intelligence capabilities to detect both known and unknown cyberthreats in real-time.

The growing spend on cybersecurity by enterprises and increased focus on zero-trust strategies present significant opportunities for NDR vendors. Furthermore, remote work culture accelerated by the COVID-19 pandemic has increased the attack surface for most organizations, demanding advanced network threat detection.

NDR vendors are also expanding their geographic footprints to benefit from the growing demand. For instance, in 2023, Invenergy planned to enter the Australian market by partnering with Sinclair Technology Group to offer its managed detection and response capabilities. Similarly, General Electric partnered with Cybervanta to enhance its NDR solution for the Asia Pacific region.

Market drivers
The rapid digital transformation across industries has increased the reliance on networked systems and internet-facing applications. Moreover, sophisticated threat actors are constantly evolving their attack methods to exploit new vulnerabilities. This has contributed to a rise in complex cyberattacks like ransomware targeting essential services and industrial control systems. The need to detect both known and unknown threats in real-time throughout the expanding IT infrastructure is a key factor driving the demand for advanced network detection and response solutions.

Market restraints
The implementation of NDR tools involves integration with existing security infrastructure and IT systems, requiring significant upfront costs. Moreover, skilled cybersecurity resources are required to continuously monitor networks, correlate alerts, and respond to incidents detected by these solutions. The high total cost of ownership can act as a restraint for small and medium enterprises to adopt comprehensive network detection and response. Additionally, privacy and data governance regulations in some regions may restrict the extent of network monitoring for compliance reasons.

Segment Analysis
The network traffic analysis segment dominates the network detection and response market currently as it analyses network traffic patterns to detect potential threats. This segment analyses all inbound and outbound traffic passing through perimeter security to detect anomalies and threat indicators. Rising volume of cyberattacks and malware threats has increased adoption of network traffic analysis solutions across industry verticals for comprehensive network visibility and threat detection.

The threat detection segment is growing at a fast pace as NDR solutions with threat detection capabilities can identify known and unknown threats in the network by analysing packets, files, and malicious behaviours to detect intrusions and data exfiltration activities in real-time. Growing demand for targeted attack detection and advanced persistent threat protection among enterprises is stimulating growth of this segment.

Global Analysis
The North America region dominates the global network detection and response market currently owing to strong demand for network security solutions among enterprises across industries. Rising number of cyberattacks and stringent data privacy regulations have increased adoption of NDR solutions for threat detection and response in the region. Growing focus of organizations on implementing zero trust network security and security posture management initiatives is also driving the NDR market in North America.

The Asia Pacific region is emerging as the fastest growing regional market and offers lucrative opportunities. This is due to rapid digital transformation across industries, growing BYOD and remote work adoption, and increasing investments by enterprises in cybersecurity technologies. Rising awareness of evolving cyber threats and their financial and legal impact is further stimulating growth of NDR solutions across APAC countries.

Get More Insights On Network Detection And Response (NDR) Market