The Network Detection and Response (NDR) Market is estimated to be valued at US$ 3.15 Bn in 2023 and is expected to exhibit a CAGR of 12.6% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Network detection and response (NDR) systems help detect anomalies or known threats within an organization's networked environment and automate the response to mitigate them. NDR technologies analyze network traffic in real-time using machine learning and behavior analytics in order to identify potential incidents. They provide visibility into network communications to uncover hidden threats through comprehensive traffic analysis on devices, applications and users. With the help of automated investigation and response capabilities, NDR systems enable faster detection and remediation of cybersecurity incidents.
Market Dynamics:
Rising adoption of AI and machine learning - Implementation of artificial intelligence and machine learning capabilities in NDR systems has enabled automatic mapping of network behaviors to accurately detect anomalies and zero-day threats in real-time. AI algorithms power continuous learning and improve detection accuracy over time without much human intervention. This self-learning ability of AI-driven NDR solutions is a major factor propelling their adoption across industries.
Growing need for comprehensive network visibility - As cybercriminals adopt sophisticated techniques to carry out attacks, organizations require advanced network monitoring beyond just IPS/IDS for improved threat detection. NDR platforms provide visibility into every packet, user, device and application interacting with the network. Their ability to analyze volumes of network metadata and traffic helps gain a holistic view of potential threats. This has increased the need for comprehensive network monitoring through NDR systems.
Segment Analysis
The Network Detection And Response (NDR) Market Size is dominated by the cloud-based segment. This segment holds around 60% of the overall NDR market share due to growing adoption of cloud-based security solutions across large enterprises and SMEs. Cloud-based NDR solutions offer various advantages like cost-effectiveness, scalability, automated threat detection & response, and ease of deployment which has accelerated their adoption rate among organizations.
PEST Analysis
Political: Data privacy laws are getting stringent across regions which is positively impacting the adoption of advanced network security solutions like NDR to ensure compliance.
Economic: Organizations' security budgets are rising with the increasing risk of cybercrimes, prioritizing network monitoring and protection using NDR.
Social: Growing reliance on digital platforms and remote work culture is enhancing the attractiveness of cloud-based security solutions for real-time network visibility and threat management.
Technological: Emerging technologies like AI/ML, analytics, and automation are allowing NDR vendors to offer enhanced network visibility, faster threat detection, and response capabilities.
Key Takeaways
The global Network Detection and Response (NDR) market is expected to witness high growth, exhibiting a CAGR of 12.6% over the forecast period, due to increasing investments in security infrastructure by organizations against ever-evolving cyber threats. The North American region dominates the NDR market currently due to rapid adoption of advanced cybersecurity solutions by enterprises in the US and Canada. The cloud-based segment continues to expand at a faster pace against the on-premise segment owing to scalability and cost advantages. Key players operating in the Network Detection and Response (NDR) market are Cisco, Juniper Networks, RSA Security, Awake Security, Vectra AI, ExtraHop, Darktrace, Fortinet, FireEye, Trend Micro, Niara, Securonix, Hillstone Networks, Countertack, Corelight, ProtectWise, Flowmon Networks, BluVector, Armor, and Palo Alto Networks. Cisco leads the NDR market currently due to its proven portfolio of network security solutions including Stealthwatch and Cisco Secure Firewall.
Read More: https://www.rapidwebwire.com/network-detection-and-response-market-trends/
