October 10, 2024
Ict

Network Detection and Response (NDR) is Estimated to Witness High Growth Owing to Advanced Network Analytics

The network detection and response (NDR) market includes products and solutions that leverage advanced network analytics to detect threat activity within a network and automatically respond to incidents. NDR provides users with continuous monitoring, investigation, and response capabilities to identify unknown and known threats. It also helps enterprises detect anomalies in network traffic patterns and behaviors in order to gain visibility and mitigate cyber risks across endpoints, servers, and cloud workloads.

The Global network detection and response (NDR) 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 (NDR) Market are ABB, Xcel Energy Inc., EDF, National Grid Renewables, Acciona, Enel Spa, Innergex, The Tata Power Company Limited, General Electric, and Invenergy.

Key opportunities in the Network Detection and Response market include the increasing adoption of cloud-based NDR solutions by small and medium sized enterprises. Growing popularity of software-as-a-service based NDR systems allow vendors to upsell additional features and analytics. Technological advancements like machine learning and artificial intelligence are helping NDR solutions gain deeper network visibility and automate threat detection and response.

Market drivers

The major market driver for network detection and response (NDR) is the growing need for organizations to detect threats inside their networks in real-time. As remote and hybrid work models gain popularity worldwide, the typical security perimeter is disappearing, making internal networks more vulnerable to cyber attacks. NDR aids security teams detect threats immediately before they infiltrate deeper into the IT infrastructure. The increasing Complexity of networks plus a widening attack surface have accelerated the demand for advanced network monitoring with built-in threat detection capabilities.

Current Challenges in Network Detection and Response (NDR) Market
The increasing frequency and complexity of cyberattacks has put immense pressure on organizations to bolster their cybersecurity defenses. With remote and hybrid work becoming the new normal, the overall digital attack surface has widened tremendously. Traditional perimeter-based security tools are struggling to detect and mitigate advanced intrusions. Organizations lack visibility across their entire IT infrastructure comprising endpoints, network, applications and cloud environments. This has left many security teams overwhelmed with alerts and unable to determine actual threats from harmless anomalies. At the same time, the talent crunch in cybersecurity has worsened the situation with a shortage of skilled professionals.

SWOT Analysis
Strength: NDR solutions offer comprehensive visibility across IT assets for early detection of known and unknown threats. They leverage integrated network traffic analysis, endpoint telemetry and threat intelligence for more accurate detection of security incidents.
Weakness: Initial deployment and configuration of NDR platforms requires careful planning and professional services. The high total cost of ownershipincluding licenses, hardware and skilled resourcesmay be prohibitive for some small and medium enterprises.
Opportunity: Growing security spending on next-generation technologies like AI/ML, cloud and zero trust architectures is driving greater adoption of NDR systems. Expanded network perimeters due to remote work is amplifying demand for enhanced network security monitoring.
Threats: Increasing sophistication of attacks may outpace NDR vendors’ ability to develop countermeasures at the same pace. Open source and cheap intrusion detection alternatives threaten vendor lock-in for some customers.

North America and Europe currently account for over 65% of The Global NDR Market share in terms of value. This is attributed to rising threat sophistication, digital transformation initiatives and stringent data privacy regulations in countries across these regions driving cybersecurity investments. The Asia Pacific region is projected to witness the fastest CAGR during the forecast period owing to increasing focus on network security, critical infrastructure modernization and growing adoption of cloud-based services.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →