The global Identity Threat
Detection and Response Market size is
projected to grow from USD 12.8 billion in 2024 to USD 35.6 billion by 2029 at
a Compound Annual Growth Rate (CAGR) of 22.6% during the forecast period, at a
Compound Annual Growth Rate (CAGR) of 25.9% during the forecast period,
according to a new report by MarketsandMarkets™. The
expansion of identity threat detection and response (ITDR) is propelled by the
continuously evolving global threat landscape and combating threat-targeting
identities and identity systems. ITDR provides response strategies ensuring the
protection of sensitive and confidential data.
Download PDF Brochure and Unleash Full Potential @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=259116012
Identity Threat Detection and Response Market Dynamics:
Drivers:
1.
Rise in user identity targeted cyber crimes
2.
Evolving remote work landscape.
3.
Growing regulatory environment
Restraints:
1.
Navigating complexities of solutions for small businesses.
2.
Privacy concerns due to collection of extensive user activity data
3.
Difficulty in distinguishing between genuine threats and false
alarms
Opportunities:
1.
Inclusion of AI/ML.
2.
Growing trend toward cloud-based services
3.
Improving communication and data exchange through integration of
systems
List of Key Players in Identity Threat Detection and Response
Market:
- Microsoft (US)
- IBM (US)
- CrowdStrike (US)
- Zscaler (US)
- Tenable (US)
- Veronis (US)
- BeyondTrust (US)
- CyberArk (US)
- Proofpoint (US)
- Quest (US)
Get Our Proven Strategies for Predictive Maintenance Market and
Get Ahead of the Curve @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=259116012
Governments
worldwide increasingly emphasize the importance of robust identity threat
detection and response (ITDR) solutions to counter growing cyber threats and
safeguard critical infrastructure. Key initiatives include funding research and
development grants, supporting startups through grants and incubator programs,
and enforcing data privacy regulations like GDPR and CCPA. They also promote
cybersecurity frameworks, critical infrastructure protection standards, and
public awareness campaigns. Collaboration with the private sector, through
partnerships and procurement policies, further drives ITDR market growth. These
efforts underscore a global recognition of ITDR's significance in enhancing
digital security and compliance with industry regulations.
"By deployment mode, the cloud segment is expected to
demonstrate the highest growth rate in the identity threat detection and
response market during the forecast period."
The
Identity Threat Detection and Response (ITDR) market is experiencing a notable
shift towards cloud-based deployments, which are projected to dominate in the
coming years. Cloud solutions offer various advantages, including scalability,
reduced infrastructure costs, faster deployment, improved accessibility, and
automatic updates. With businesses increasingly adopting cloud technologies and
prioritizing agility and innovation, cloud-based ITDR solutions align well with
this evolving landscape. The cybersecurity skills shortage further drives the
preference for cloud solutions, given their built-in automation and ease of
management. While on-premise ITDR solutions may still be favored in scenarios
with stringent data security requirements, the overall trend favors cloud-based
deployments due to their scalability, agility, and cost-effectiveness. Cloud
providers continue to innovate and enhance their offerings, making them
increasingly attractive to businesses of all sizes, ultimately shaping the
dominance of cloud-based ITDR in the foreseeable future.
“Based on organization size, the SMEs segment is projected to
exhibit the highest growth rate at the highest CAGR during the forecast
period.”
The
Identity Threat Detection and Response (ITDR) market is set for significant
growth, particularly among Small and Medium-Sized Enterprises, driven by
several key factors. SMEs face increased vulnerability due to limited security
resources, a growing reliance on digital tools, and evolving cyber threats.
Heightened awareness of cyber risks and emerging data privacy regulations are
pressuring SMEs to invest in ITDR solutions. The affordability and scalability
of cloud-based ITDR solutions further contribute to SME adoption. These
solutions offer improved threat detection, enhanced user access control, and
simplified compliance management, positioning SMEs as pivotal drivers of growth
in the ITDR market.
Buy Now and Stay Ahead of the Competition @ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=259116012
“Asia Pacific is anticipated to experience substantial growth with
the highest CAGR in the identity threat detection and response market
during the forecast period. “
The
Identity Threat Detection and Response (ITDR) market is experiencing remarkable
growth globally, particularly in the Asia-Pacific region, where it is projected
to witness the highest Compound Annual Growth Rate. This surge is fueled by
several factors specific to the area. APAC's rapid digital transformation,
propelled by adopting cloud computing, mobile technologies, and e-commerce
platforms, creates an expanded attack surface for cyber threats. Heightened
regulatory focus on data privacy regulations in countries like China, India,
and Australia drives the demand for robust ITDR solutions to ensure compliance.
The emergence of domestic cybersecurity vendors in APAC and the increasing
adoption of cloud-based ITDR solutions contribute to market growth. Government
initiatives, such as heavy investments in cybersecurity infrastructure and
public-private partnerships, create a supportive environment for the ITDR
market's expansion. Despite facing challenges like a shortage of skilled
cybersecurity professionals, the APAC region's unique dynamics position it as a
key driver of ITDR market growth. It is crucial in protecting critical
infrastructure and businesses against cyber threats in the digital age.
Market Players
The
major players in the identity threat detection and response market are
Microsoft (US), IBM (US), CrowdStrike (US), Zscaler (US), Tenable (US), Veronis
(US), BeyondTrust (US), CyberArk (US), Proofpoint (US), Quest (US), Oort(US),
Vectra (US), Proficio (US), Qomplx (US), Adaptive Shield ( Israel), Acalvio
(US), Authomize (Israel), Illusive (US), Mindfire (UAE), Rezonate (US),
Semperis (US), Sentinelone (US), Silverfort (Israel), Netwrix (US), Vericlouds
(US), Microminder (UK), Quorum Cyber (UK) and Mixmode (US).
About MarketsandMarkets™
MarketsandMarkets™
has been recognized as one of America’s best management
consulting firms by Forbes, as per their recent report.
MarketsandMarkets™
is a blue ocean alternative in growth consulting and program management,
leveraging a man-machine offering to drive supernormal growth for progressive
organizations in the B2B space. We have the widest lens on emerging
technologies, making us proficient in co-creating supernormal growth for
clients.
Earlier
this year, we made a formal transformation into one of America's best
management consulting firms as per a survey conducted by Forbes.
The
B2B economy is witnessing the emergence of $25 trillion of new revenue streams
that are substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this $25 trillion
opportunity through our service lines - TAM Expansion, Go-to-Market (GTM)
Strategy to Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built
on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B
companies - helping them stay relevant in a disruptive ecosystem. Our insights
and strategies are molded by our industry experts, cutting-edge AI-powered
Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our
Market Intelligence Cloud) integrates our research, facilitates an analysis of
interconnections through a set of applications, helping clients look at the
entire ecosystem and understand the revenue shifts happening in their industry.
To
find out more, visit www.MarketsandMarkets™.com or
follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630
Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
+1-888-600-6441
Email: sales@marketsandmarkets.com
No comments:
Post a Comment