April 13, 2024

Network Detection and Response (NDR) Market is Estimated to Witness High Growth Owing to Increasing Demand for Advanced Threat Detection

Network Detection and Response (NDR) is an innovative network security solution that offers real-time breach prevention and visibility across hybrid environments through continuous monitoring and detection. It leverages advanced threat detection techniques such as machine learning and behavioural analysis to gain comprehensive visibility and prevent emerging cyber threats. The growing need for effective cybersecurity among organizations against evolving attacks is driving increased adoption of NDR solutions globally.

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, Invenergy.

The key opportunities in the market include growing demand for cloud-based NDR solutions and increasing investments by organizations towards advanced network monitoring. Several major players are focusing on acquisitions and partnerships to expand their product portfolio and global footprint.

Globally, the North America region currently dominates the NDR market due to stringent data privacy regulations and early adoption of advanced security technologies by organizations in the US and Canada. However, Asia Pacific is expected to offer lucrative growth opportunities over the forecast period supported by rising spending on cybersecurity in countries like China, India and Japan.

Market drivers
The major driver for the growth of the NDR market is the increasing need among enterprises to detect sophisticated cyber threats in real-time. Advanced threats like zero-day exploits and ransomware are becoming more complex which has heightened the need for continuous network monitoring with threat detection capabilities. Other factors like growing adoption of cloud and remote working models have also expanded the attack surface for hackers, thereby propelling demand for effective network security solutions. The rapid digitization of critical infrastructure also calls for implementation of proactive security measures to prevent critical breaches using technologies like NDR.

PEST Analysis
Political: Network security continues to be a top priority for both government and commercial organizations due to growing security threats and vulnerabilities. Governments across the world aim to strengthen cyber defenses through regulations and policies promoting network security products and services.

Economic: Growing digital transformation across industries has increased network traffic and complexities, necessitating advanced security measures for threat detection and response. Organizations spend significantly on security infrastructure to minimize financial losses from network breaches.

Social: Increased online activities and connectivity along with rising sophistication of attacks has improved awareness about strengthening network defenses. Users demand network security assurances from service providers and businesses to protect their data and digital assets.

Technological: The advancement of networking and digital technologies has enabled new forms of attacks that existing security tools fail to detect. NDR solutions leverage technologies like machine learning, analytics and automation to improve threat visibility, detection speed and response capabilities of organizations. Continuous innovation makes these solutions more effective, scalable and easy to use.

North America holds the largest share of The Global NDR Market, followed by Europe and Asia Pacific. This can be attributed to the early adoption of advanced network security practices in North America driven by stringent compliance regulations, the digital maturity of organizations, extensive internet connectivity and a higher threat landscape. Organizations across the U.S. and Canada invest substantially in threat detection and response infrastructure to strengthen cyber defenses.

The Asia Pacific region is emerging as the fastest growing market for NDR solutions globally. This growth can be attributed to increasing spending on network security by both public and private sectors across developing countries like China, India and South Korea driven by strong economic growth, digitalization initiatives and a rapidly expanding online user base. Growing connectivity and changing threat dynamics in the region have encouraged greater network surveillance and response capabilities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it