Managed Detection and Response Market Size Worth USD 21.93 Billion in 2030
Global Managed Detection and Response Market Forecast to 2030
The "Global Managed Detection and Response Market" research by Emergen Research is a thorough compilation of analytical data regarding the Managed Detection and Response sector. The research contains a market segmentation for Managed Detection and Response as well as a thorough evaluation of the market's size (both in terms of volume and value). The study analyzes the present Managed Detection and Response Market and provides a detailed prediction for the years 2022–2030.The global Managed Detection and Response (MDR) market size reached USD 4.9 Billion in 2021 and is expected to register a revenue CAGR of 18.1% during the forecast period, according to the latest analysis by Emergen Research. Increased rates of cyberattacks in the Banking, Financial services, and Insurance (BFSI) sector are the key factor driving revenue growth in the market.
Cyberattacks are increasing in both volume and sophistication, and any business, large or small, is considered vulnerable. While anti-virus software is regarded as a valuable investment, it is far from sufficient to prevent all (or even most) forms of attack. To secure its digital assets and resources, every company needs layers of security measures, which are occasionally insufficient. In reality, while preventative measures are necessary, detection and reaction skills are also required in today's computer world. There is no single solution for stopping all cyberattacks; therefore, companies must be prepared to notice the existence of an attacker on their systems and respond to the danger to reduce it.
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Competitive Terrain:
The global Managed Detection and Response industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Accenture plc, The International Business Machines Corporation (IBM), Cisco Systems, Inc., Arctic Wolf Networks Inc., CrowdStrike Holdings, Inc., eSentire, Inc, FireEye, Raytheon Technologies Corporation, Rapid7, and IronNet, Inc
Research Report on the Managed Detection and Response Market Addresses the Following Key Questions:
Who are the dominant players of the Managed Detection and Response market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Managed Detection and Response market?
What are the key growth drivers and restraining factors of the Managed Detection and Response market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Managed Detection and Response market and its key segments?
Market Overview:
The report bifurcates the Managed Detection and Response market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Security Type Outlook (Revenue, USD Billion; 2019-2030)
Network Security
Endpoint Security
Cloud Security
Application Security
Others
Deployment Outlook (Revenue, USD Billion; 2019-2030)
Cloud
On-premise
Application Outlook (Revenue, USD Billion; 2019-2030)
Banking, Financial Service, and Insurance (BFSI)
Education and Training
Aerospace and Defense
Automotive
Manufacturing
Healthcare
Government
Retail
IT & ITeS
Others
Regional Landscape section of the Managed Detection and Response report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
The network security segment accounted for a significant revenue share in 2021. Network security encompasses all of the measures necessary to protect the integrity of a computer network and the data contained inside it. To protect consumers and businesses from malware and cyber assaults such as distributed denial of service, good network security strategies include many security technologies. Network security is critical since it prevents hackers from gaining access to critical data and sensitive information. When hackers obtain such information, they can create a variety of problems, including identity theft, and asset theft.
The cloud segment accounted for a significant revenue share in 2021. In many information technologies architecture-based organizations, cloud technology is used by corporate network managers to protect devices. Cloud-based deployment has various advantages, including prevention of Distributed denial-of-Service (DDoS), hyperjacking, and hypercall attacks. In addition, it is scalable, simple to collaborate with, easy to implement, and has low operational costs.
The BFSI segment accounted for largest revenue share in 2021 owing to increase in cybersecurity assaults, spending on cybersecurity solutions, and financial data breaches. Data on users may be compromised by a banking industry with poor cybersecurity. The most common attack vectors employed by cybercriminals to target this business have been Trojans, Ransomware, Botnets, and Info Stealers. Rise in ransomware, malware and phishing assaults in banking, financial services, and insurance is driving revenue growth of the managed detection and response market.
Threat detection segment accounted for largest revenue share in 2021. MDR monitors identifies, and responds to threats found within the organization from a distant location. Endpoint Detection and Response (EDR) tools often give essential visibility into endpoint security events. Managed investigation services help enterprises analyze risks quicker by adding context to security warnings. Organizations may have a better understanding of what happened when it happened, who was affected, and how far the attacker proceeded. They may design an effective reaction using this information.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Managed Detection and Response market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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