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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