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| Network Detection And Response (NDR) Market Size |
The global 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:
The Network Detection and Response (NDR) market provides network detection and
response solutions that enable enterprises to gain visibility into the complete
network traffic, detect anomalies and threats in real-time, and respond
immediately. NDR solutions analyze network traffic metadata to detect known and
unknown threats using machine learning and behavioral analytics techniques.
They also prioritize alerts to help security teams focus their investigation.
NDR solutions have gained adoption as they provide better network security than
legacy network firewalls and intrusion detection/protection systems. NDR
solutions also facilitate compliance with regulatory standards.
Market key trends:
One of the major trends in the NDR market is the rising adoption of cloud-based
NDR solutions. As businesses are increasingly adopting cloud-based applications
and infrastructure, there is a growing need for cloud-native network security
solutions. Cloud-based NDR solutions provide advantages such as scalability,
optimization of IT resources, and lower upfront costs compared to on-premises
solutions. They also enable organizations to gain visibility into cloud
workloads alongside their physical and virtual networks. Enterprises can now
opt for cloud-managed NDR services which offer the functionality of dedicated
appliances without the costs and resource constraints associated with managing
hardware on-premises. This is expected to drive increased demand for
cloud-based NDR solutions over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the NDR
market requires large R&D investments and existing prominent vendors have
strong brand recognition and economies of scale.
Bargaining power of buyers: The bargaining power of buyers is high as the NDR
solutions market is fragmented with many vendors providing similar products.
Buyers can negotiate on price easily.
Bargaining power of suppliers: The bargaining power of suppliers is low as
there are many component manufacturers and vendors can switch between suppliers
based on price and quality.
Threat of new substitutes: The threat of substitutes is low as there are
limited direct substitutes for Network Detection and Response solutions.
Competitive rivalry: The competitive rivalry is high among leading vendors due
to their intense focus on product innovation and portfolio expansion.
Key Takeaways
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 security breaches and sophistication of
cyber threats. The market was valued at US$
3.15 Bn in 2023.
North America is expected to dominate the NDR market during the forecast
period. This is attributed to significant technology adoption, stringent data
protection regulations, and high threat prevalence in the region. Asia Pacific
is anticipated to grow at the fastest pace owing to rapid digitalization,
growth of SMEs, and increasing cybercrimes.
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. The companies are focusing on product
innovations and partnerships to consolidate their market presence.
Read More: https://www.trendingwebwire.com/network-detection-and-response-ndr-market-analysis-and-size/