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Managed Detection and Response Market to Surpass USD 14.6 Billion by 2030 | Empowering Businesses in the Digital Age

Managed Detection and Response market

Managed Detection and Response market

The Managed Detection and Response market size was USD 2.7 billion in 2022 and is expected to Reach USD 14.6 billion by 2030 and grow at a CAGR of 23.5%

The Managed Detection and Response market size was USD 2.7 billion in 2022 and is expected to Reach USD 14.6 billion by 2030 and grow at a CAGR of 23.5% over the forecast period of 2023-2030.”
— SNS Insider
AUSTIN, TEXAS, UNITED STATES, January 23, 2024 /EINPresswire.com/ -- Revolutionizing Cybersecurity Landscape with Advanced Threat Detection, surge in business email compromise, ransomware, and crypto-jacking incidents.

The SNS Insider report indicates that the Managed Detection and Response (MDR) Market, valued at USD 2.7 billion in 2022, is poised to grow exponentially, reaching USD 14.6 billion by 2030, at a remarkable CAGR of 23.5% over the forecast period of 2023-2030.

Managed Detection and Response (MDR) is a comprehensive cybersecurity approach combining human expertise, deep threat analytics, endpoints, cloud-based environments, and network detection technologies. This innovative solution aims to mitigate the risk and costs associated with cyberattacks and data breaches, offering 24/7, year-round coverage for threat identification, forensic investigation, and incident response. It complements traditional managed security services by enhancing the emphasis on breach detection and response through additional technologies and services, including response orchestration, threat intelligence, and security analytics.

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Prominent Players:

• Esentire
• Bae System
• Fireeye
• IBM
• SentinelOne
• Optiv Security
• Kudelski Security
• Paladion
• Arctic Wolf Network
• Watchguard

Market Analysis

The expansion of the MDR market is driven by various factors, including the surge in business email compromise, ransomware, and crypto-jacking incidents. The urgent need to bridge the cybersecurity skills gap and manage the overwhelming volume of security alerts also contributes significantly. Government regulations and compliance requirements play a crucial role in driving MDR adoption, along with the proliferation of technology and the increasing penetration of IoT devices. The introduction of AI/ML-powered services, the increasing adoption by SMEs, and scalability benefits further fuel the market's growth potential.

Segment Analysis

By Deployment Mode: The market is divided into cloud-based MDR and on-premises MDR. Cloud-based MDR is expected to dominate the market, given its advantages such as resource flexibility, accessibility to remote teams, and rapid updates in a dynamic cyber threat landscape.

By Enterprise Size: Large enterprises are anticipated to account for the largest market share, driven by higher cybersecurity spending, the value of their data and assets, and stricter compliance requirements. Small and medium-sized enterprises (SMEs) are expected to experience rapid growth, fueled by the accelerated shift to remote and hybrid working.

KEY MARKET SEGMENTS

By Security Type

• Network Security
• Application Security
• Endpoint Security
• Cloud Security

By Deployment Mode

• On-Premise
• Cloud Based

By Organization Size

• Large
• Small and Medium

Key Regional Development

The North America market is expected to hold the largest share, driven by a stringent regulatory landscape, increased cloud computing adoption, robust cybersecurity spending, and technological developments. The Asia Pacific market is poised for the highest growth rate, owing to the presence of rapidly growing economies, increasing cloud adoption, and rising cyber threats.

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Managed Detection and Response (MDR) Market: Challenges and Opportunities

Challenges:

• Complex Threat Landscape: Managing the evolving and sophisticated nature of cyber threats poses challenges for MDR providers to stay ahead of emerging attack vectors and techniques.
• Shortage of Skilled Cybersecurity Professionals: The industry-wide shortage of skilled cybersecurity professionals creates challenges in building and maintaining expert teams within MDR services.
• Integration with Existing Security Infrastructure: Ensuring seamless integration with diverse security tools and existing IT infrastructure can be complex, requiring interoperability for effective threat detection and response.
• Rapidly Evolving Technologies: The rapid evolution of technologies, such as cloud computing and IoT, introduces challenges in adapting MDR services to new environments and addressing associated security concerns.

Opportunities:

• Automation and AI for Threat Detection: Opportunities arise from leveraging automation and artificial intelligence in MDR services to enhance threat detection capabilities, improve response times, and reduce false positives.
• Cloud Security Management: The increasing adoption of cloud services provides opportunities for MDR providers to offer specialized solutions for securing cloud environments and addressing the unique challenges of cloud-based threats.
• Threat Intelligence Sharing: Opportunities exist in establishing collaborative threat intelligence sharing platforms, enabling MDR providers to benefit from collective insights and strengthen their ability to detect and respond to emerging threats.
• Managed Endpoint Detection and Response (EDR): Focusing on managed EDR services offers opportunities for MDR providers to enhance protection at the endpoint level, addressing the growing importance of endpoint security in modern threat landscapes.

Successfully navigating these challenges and capitalizing on opportunities in the Managed Detection and Response market requires a proactive approach, investment in advanced technologies, collaboration with industry partners, and a commitment to ongoing skill development.

Key Takeaways

• Rising Cyber Threats: The MDR market is propelled by the escalating cybersecurity threats globally, necessitating advanced detection and response capabilities.
• Regulatory Compliance: Strict data protection regulations drive organizations towards MDR services to meet compliance mandates, ensuring real-time threat detection and response.
• Increasing Adoption: AI/ML-powered services, scalability benefits, and SMEs' accelerated adoption contribute to the market's promising growth potential.
• Regional Dominance: North America leads due to its stringent regulatory landscape, while the Asia Pacific exhibits the highest growth rate driven by expanding economies and rising cyber threats.

Recent Developments

• In July 2023, Sophos Ltd. unveiled MDR for Microsoft Defender, providing 24/7 security across the Microsoft security suite.
• In March 2023, NTT Limited launched an analytics-driven MDR security service for effective risk management.
• In January 2023, CRITICALSTART announced its MDR service offering for Trend Micro Vision One customers, providing 24x7 monitoring, investigation, and response services.

Table of Contents :
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis

13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion

About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company 's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety.

Akash Anand
SNS Insider | Strategy and Stats
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