The growth of the Managed Detection and
Response Market is driven by factors
such as increasing cyber threats like business email compromise, ransomware,
and crypto-jacking, the shortage of cybersecurity skills and overwhelming alert
volumes, government regulations and compliance requirements, and the
proliferation of IoT devices which fuel the demand for MDR to address the associated
security risks.
The global Managed Detection and Response Market size is projected to grow from USD 3.3
billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate
(CAGR) of 23.3% during the forecast period, according to report published
by MarketsandMarkets.
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Based on the deployment type, the cloud segment is to grow at the
highest CAGR during the forecasted period
The MDR market is divided into on-premises and cloud deployment
modes. Amongst them, the cloud deployment mode has the highest CAGR due to its
scalability, cost-effectiveness, rapid deployment, remote monitoring
capabilities, advanced analytics, and integration opportunities. Additionally,
it allows organizations to easily adjust resources, reduce upfront investments,
quickly implement services, monitor incidents remotely, leverage advanced
technologies, and integrate with other security tools, driving its growth in
the market. Thus, the cloud deployment mode accounts for the highest CAGR
during the forecasted period.
By organization size, SMEs to hold a larger market size during the
forecast period
The organization size in the MDR market is segmented into large
enterprises and SMEs. Amongst them, SMEs contribute to a larger market size due
to increasing cyber threats targeting them, they have limited internal
resources for cybersecurity, and they are increasingly subjected to compliance
regulations and standards. Also, MDR services offer a cost-effective approach
for SMEs compared to building and maintaining an in-house security operations
center, focusing on core competencies, and scalability to accommodate business
growth. Additionally, MDR provides SMEs with access to expert security
services, advanced tools, and compliance support, allowing them to enhance
their cybersecurity posture effectively. Thus, the SMEs segment holds a larger
market size during the forecast period.
By region, Asia Pacific is to grow at the highest CAGR during the
forecast period
The Asia Pacific region accounts for growth in MDR due to factors
such as stringent regulatory compliance, strong cybersecurity preparedness,
collaborative initiatives by market players, increasing cyber threats, and
economic and technological advancements. These factors drive the adoption of
MDR services in the region to protect business and customer data and enhance
overall cybersecurity. As a result, the Asia Pacific region is anticipated to
grow at the highest CAGR during the forecasted period.
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Market Players
CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US),
Kudelski Security (Switzerland), SentinelOne (US), Proficio (US), Expel (US),
Secureworks (US), Alert Logic (US), Trustwave (US), Mandiant (US), Binary
Defense (US), Sophos (UK), eSentire (Canada), Deepwatch (US), Netsurion (US),
GoSecure (US), LMNTRIX (US), UnderDefense (US), Ackcent (Spain), Cybereason
(US), Critical Start (US), Cysiv (US), and Critical Insight (US) are the key
players and other players in the MDR market.
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