The Managed Detection and Response Market is expected to value USD 1,415.4 million in 2021 and is estimated to grow at a CAGR of 29.39% during the forecast period. Managed detection and response is a modern approach for detecting cyber-attacks and threats and respond them which helps organizations to protect their organization from cyber threats. With the increasing cases of cyber-attacks and requirement for compliance with different government regulations, upcoming government rules are expected to drive market growth. Furthermore, technological advancements and increasing adoption of technologies like the internet of things (IoT) and enterprise mobility across various industry verticals, has increased the usage of mobile devices, which has resulted in an increasing number of cyberattacks and gain a substantial competitive edge in the market. Apart from this the current use of managed detection and response has reduced the risk of cybersecurity which can gain visibility and a clear view of threats which is growing individual’s business to improve the defenses.
Machine learning services offer in-depth detection of cybersecurity breaches than the traditionally managed security service provider (MSSP) which depends on the signature and rules. Additionally, MDR (managed detection and response) uses artificial intelligence and machine learning for investigating and respond to security threats. Various companies have started investing in advancements in AI-powered MDR services. Enterprises are increasingly outsourcing the security management tasks to professional service providers, which is expected to contribute to market growth.
With changes in the business process needs, IT infrastructure is becoming agile. The enterprises are facing severe challenges to mitigate risks and monitoring and troubleshooting their IT infrastructure. The change in the threat landscape poses a challenge for the companies in managing the rising complexities in the IT landscape. Additionally, the interoperable IT infrastructure is being challenged by different various cyber threats like malware, antivirus, and zero-day vulnerability.
TABLE 1: GLOBAL MANAGED DETECTION AND RESPONSE MARKET OVERALL SNAPSHOT
The global managed detection and response market is segmented into security type, deployment, organization size, industry vertical, and region.
FIGURE 2: GLOBAL MANAGED DETECTION AND RESPONSE MARKET SEGMENTATION
Global Managed Detection and Response Market, by Security Type
Based on security type, the global managed and response market is segmented into endpoint security, network security, application security, cloud security, and others. Among these, the endpoint security segment is expected to be the fastest-growing segment during the forecast period. Endpoint security is the security offered in the network devices like desktops, servers, smartphones, laptops, barcode readers, tablets, and point of sale linked to a client-server. These solutions offer continuous real-time threat detection to network devices. The rising number of mobile phones across the world is the main driving factor as the increasing number of mobile devices networks are getting more vulnerable to cyber-attacks which are boosting the market growth.
Global Managed Detection and Response Market, by Deployment
Based on deployment, the global managed detection and response market is segmented into cloud and on-premise. Among these, the on-premise segment holds the largest market share. With the help of on-premise deployment, the organization’s IT team can manage the applications in accordance with strict governance and auditing requirements. The on-premise endpoint protection is developed to find and analyze the advanced cyber-attacks by both known and unknown threats.
Global Managed Detection and Response Market, by Organization
Based on the organization, the global managed detection and response market is segmented into small and medium-sized enterprises and large enterprises. Among these, the large enterprise segment holds the largest market share owing to the increasing cases of cyberattacks and the deployment of advanced cybersecurity technology after the elimination of the traditional ones. The MDR services assist large-scale organizations to protect their business-critical application and networks. Additionally, the MDR services assist large-scale enterprises empowers large organizations to safeguard their valuable information and ensure robust security across the entire business environment. These advancements in managed detection and response services for large organizations are analyzed to drive the segment during the forecast period.
Global Managed Detection and Response Market, by Industry Vertical
Based on industry vertical, the global managed detection and response market is segmented into banking, financial services, and insurance, IT and telecommunications, government and defense, energy and utilities, manufacturing, healthcare, retail, and others. Among these, the manufacturing segment is expected to be the fastest-growing segment during the forecast period owing to the increasing adoption of the IoT and digital technologies which, is expected to increase the ransomware attacks. This will eventually increase the market growth.
Global Managed Detection and Response Market, by Region
Based on the region, the global managed detection and response market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America is expected to dominate the global managed detection and response market during the forecast period owing to increasing awareness related to the need to protect the enterprise cyberinfrastructure. Rising concern for ensuring the protection of financial and sensitive data has increased government intervention in recent years. In addition, certain factors like the presence of cybersecurity service providers and strict cybersecurity regulation in the region are expected to augment the regional market growth during the forecast period.
Recent Developments in the Global Managed Detection and Response Market
- October 2020- Atos has acquired Paladion which is a US-based global MDR service provider for strengthening its global cybersecurity services
- June 2019- Trend Micros has introduced AI featured managed detection and response service solution for allowing organizations to triage threat alerts by extracting more actionable intelligence
- February 2017- CrowdStrike has launched Enhanced Endpoint Machine Learning Capabilities and Advanced Endpoint Protection Modules to provide customers prevention against malware attacks.
TABLE 2: GLOBAL MANAGED DETECTION AND RESPONSE MARKET OVERVIEW
FIGURE 3: GLOBAL MANAGED DETECTION AND RESPONSE MARKET (USD MILLION), 2021-2030
What Does This Report Provide?
This report provides a detailed understanding of the global managed detection and response market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the market. The major market drivers, challenges, and opportunities for the global managed detection and response market have been covered in the report. This report further includes the market shares of the leading companies operating in the global market, along with their production capacities and the growth strategies adopted by them.
By Security Type:
- Endpoint security
- Network Security
- Application Security
- Cloud Security
By Organization Size
- Small and Medium-Sized Enterprises
- Large enterprises
By Industry Vertical
- Banking, Financial Services, and Insurance
- IT And Telecommunications
- Government and Defense
- Energy and Utilities
- North America, by Country
- North America, by Security Type
- North America, by Deployment
- North America, by Organization Size
- North America, by Industry Vertical
- Europe, by Country
- Rest of Europe
- Europe, by Security Type
- Europe, by Deployment
- Europe, by Organization Size
- Europe, by Organization Industry Vertical
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Security Type
- Asia Pacific, by Deployment
- Asia Pacific, by Organization Size
- Asia Pacific, by Industry Vertical
Middle East and Africa
- Middle East and Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
- Middle East and Africa, by Security Type
- Middle East and Africa, by Deployment
- Middle East and Africa, by Organization Size
- Middle East and Africa, by Industry Vertical
- South America, by Country
- Rest of South America
- South America, by Security Type
- South America, by Deployment
- South America, by Organization Size
- South America, by Industry Vertical
Major Companies: In this report, the major companies studied are Esentire, Bae System, Fireeye, IBM, Optiv Security, Kudelski Security, Paladion, Arctic Wolf Network, Watchguard, Rapid7, Raytheon, Redscan, F-secure, Crowdstrike, Networks Group, and Mnemonic.
Objectives of this Report:
- To estimate the market size for the managed detection and response market on a regional and global basis
- To identify major segments in the managed detection and response market and evaluate their market shares and demand
- To provide a competitive scenario for the market with major developments observed by the key companies in the historic years
- To evaluate the key factors governing the dynamics of the managed detection and response market with their potential gravity during the forecast period
- To evaluate the leading company-wise pricing analysis for the mentioned applications
Key Questioned Answered in the Study:
- What are major growth drivers and market trends that are impacting the global managed detection and response market?
- What is the market size both in terms of value and volume for the global managed detection and response market?
- Who are the leading market players and who are the new market players that operate in the global market with an estimated market share?
- What are the future investment pockets and opportunities in the global managed detection and response market?
- Major list of customers and potential futuristic customer list along with an estimated buying volume
- Impact of COVID-19 on the global managed detection and response market
This study is customized to meet your specific requirements:
- By sub-segment
- By client-specific country, type, and application market analysis
- Pricing analysis along with the potential list of customers
- Product-specific competitive analysis
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