by 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) solutions help enterprises detect network-based threats with increased visibility into network traffic, anomalous behavior detection capabilities, and comprehensive threat analysis. NDR solutions leverage machine learning and advanced analytics to continuously monitor traffic across campus, branch, and cloud networks to identify indicators of compromise or anomalies that could represent threats. With the growing reliance of enterprises on digital infrastructure and remote working setup, the need for comprehensive network security has increased significantly.
Market Dynamics:
Increased adoption of cloud-based applications and services across industries has resulted in growing network complexity and expanding attack surface for cybercriminals. Traditional network security tools lack the capabilities to detect sophisticated threats on modern networks. NDR solutions provide 150+ out-of-the-box detection capabilities and continuous monitoring of network traffic to detect even very stealthy attacks and zero-day threats. Additionally, growing demand for managed security services has also boosted the deployment of cloud-based NDR solutions by MSSPs and cybersecurity vendors. This has propelled the network detection and response market growth over the forecast period.
SWOT Analysis
Strength: The Network Detection and Response (NDR) market offers comprehensive network visibility and threat detection capabilities. NDR solutions help organizations detect known and unknown threats faster. They provide continuous monitoring of network traffic to identify anomalies and vulnerabilities.
Weakness: NDR solutions require extensive network infrastructure changes and IT resources for setup and management. The complex implementation and configuration of these solutions increases costs for organizations.
Opportunity: The growing adoption of cloud computing and mobility services has increased the attack surface for organizations. NDR solutions provide enhanced network security across hybrid cloud environments. The COVID-19 pandemic has further accelerated the digital transformation of enterprises, driving the need for advanced network security.
Threats: Open-source and free threat intelligence tools offer basic network monitoring capabilities. This increases competition for established NDR vendors. Strict data privacy regulations pose challenges for cloud-based NDR solutions that involve sharing of network traffic data.
Key Takeaways (This is heading keep it unchanged)
Content for Key Takeaways cover three paragraph (400 words):
The global Network Detection And Response (NDR) Market Size is expected to witness high growth, exhibiting CAGR of 12.6% over the forecast period, due to increasing cyber attacks on enterprise networks. NDR technologies provide continuous monitoring, detection and response capabilities to protect networks from both known and unknown threats.
Regional analysis: The North American region dominates the global NDR market currently, accounting for over 35% of the total share. Early adoption of advanced networking solutions along with stringent data protection regulations drive greater investments in network security technologies across organizations in the US and Canada. Asia Pacific is expected to be the fastest growing regional market for NDR solutions, expanding at a CAGR of over 15% during the forecast period. This can be attributed to rapid digitization of enterprises and growing cyber security spending in major economies like China, India and Australia.
Key players operating in the Network Detection and Response (NDR) 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, Palo Alto Networks. Companies are focusing on introducing artificial intelligence and machine learning driven NDR platforms to gain a competitive edge in the market. Strategic partnerships are also shaping the competitive landscape with growing vendor consolidation.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
