Dublin, May 23, 2024 (GLOBE NEWSWIRE) -- The "Global Identity Threat Detection and Response (ITDR) Market by Offering (Solutions and Services), Organization Size, Deployment Mode (Cloud and On-premises), Vertical (BFSI, Healthcare & Life Sciences, Government & Defense), & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global identity threat detection and response (ITDR) market is projected to grow from USD 12.8 billion in 2024 to USD 35.6 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 22.6% during the forecast period. The ITDR market growth is primarily driven by the global threat landscape and combating threat-targeting identities and identity systems. The Identity Threat Detection and Response (ITDR) market is crucial. ITDR solutions offer a comprehensive suite of tools and methodologies to detect, investigate, and counter identity-based threats. These solutions go beyond traditional security measures, focusing on user identities and access attempts. Encouraged across various industries, ITDR solutions provide significant benefits, such as protecting sensitive data, ensuring regulatory compliance, mitigating fraudulent activities, securing intellectual property, and safeguarding critical infrastructure. 
By offering, the solutions segment is expected to achieve a larger market share during the forecast period
The solutions offer real-time threat visibility and automated incident response capabilities, addressing the evolving needs of organizations. Customization options enable businesses to tailor ITDR solutions to their specific requirements, ensuring scalability and flexibility. Amidst a shifting market landscape focusing on proactive security measures, ITDR solutions mitigate the challenge of the cybersecurity skills gap through automation and user-friendly interfaces. Cloud-based delivery models further enhance accessibility and affordability. While integration complexity and evolving regulations pose challenges, solution providers are adapting with pre-built integrations and continuous development efforts. With a focus on comprehensive, integrated solutions, the solutions segment is poised to dominate the ITDR market, effectively meeting the evolving security needs of businesses.
By vertical, the BFSI segment is expected to achieve a larger market share during the forecast period
The BFSI sector is projected to dominate the Identity Threat Detection and Response (ITDR) market, driven by various factors. This includes the sector's handling of sensitive data and stringent data privacy regulations like GDPR and PCI DSS, necessitating robust ITDR solutions for compliance. BFSI institutions face evolving cyber threats such as targeted attacks and insider risks, further highlighting the need for advanced security measures. ITDR solutions offer benefits like improved fraud detection, enhanced regulatory compliance, and more robust account protection, addressing critical challenges faced by the BFSI sector. The sector also encounters challenges like legacy systems and the cybersecurity skills gap. Despite these hurdles, as the BFSI sector embraces digital transformation and open banking initiatives, ITDR solutions will remain vital for safeguarding data, managing access, ensuring regulatory adherence, and positioning the industry as a leader in the ITDR market.
North America will dominate the identity threat detection and response market during the forecast period
North America is a formidable stronghold in the global Identity Threat Detection and Response (ITDR) market, with several factors bolstering its dominant position. The region's early embrace of cutting-edge security technologies, fueled by the presence of leading cybersecurity vendors, cultivates a culture of innovation and awareness around advanced solutions like ITDR.
Stringent regulatory frameworks such as HIPAA and PCI DSS mandate robust identity security measures, propelling significant investments in ITDR solutions for compliance. North America's concentration of critical sectors like finance and healthcare underscores the imperative for fortified ITDR defenses to safeguard valuable data assets. Increased cybersecurity spending reflects heightened awareness of the evolving threat landscape, with a notable portion allocated to ITDR solutions for proactive threat mitigation. With a rich ecosystem of ITDR vendors and managed security service providers, North America is well-equipped to sustain its leadership in the ITDR market, backed by ongoing advancements and a steadfast commitment to cybersecurity resilience.
Research Coverage
The research encompasses the size of the identity threat detection and response market across various segments. It seeks to gauge its market size and growth potential within different categories by offering sub-types, organization sizes, deployment modes, verticals, and regions. Additionally, the study provides a comprehensive competitive analysis of major market players, delving into their company profiles, significant observations regarding product and business offerings, recent advancements, and key market strategies.
The major players in the identity threat detection and response market are Microsoft (US), IBM (US), CrowdStrike (US), Zscaler (US), Tenable (US), Veronis (US), BeyondTrust (US), CyberArk (US), Proofpoint (US), Quest (US), Oort(US), Vectra (US), Proficio (US), Qomplx (US), Adaptive Shield (Israel), Acalvio (US), Authomize (Israel), Illusive (US), Mindfire (UAE), Rezonate (US), Semperis (US), Sentinelone (US), Silverfort (Israel), Netwrix (US), Vericlouds (US), Microminder (UK), Quorum Cyber (UK) and Mixmode (US).
Key Attributes
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $12.8 Billion |
| Forecasted Market Value (USD) by 2029 | $35.6 Billion |
| Compound Annual Growth Rate | 22.6% |
| Regions Covered | Global |
Premium Insights
- Rising Need for Secure Web and Mobile Applications to Drive Market Growth
- Solutions Segment to Account for Larger Market During Forecast Period
- BFSI Vertical to Lead Market During Forecast Period
- Cloud Mode to Dominate Market During Forecast Period
- Large Enterprises Segment to Exhibit Larger Market Size During Forecast Period
- Asia-Pacific to Emerge as Best Market for Investments in Next Five Years
Market Dynamics
- Drivers
- Rise in User Identity Targeted Cyber Crimes
- Evolving Remote Work Landscape
- Growing Regulatory Environment
- Restraints
- Navigating Complexities of Solutions for Small Businesses
- Privacy Concerns due to Collection of Extensive User Activity Data
- Difficulty in Distinguishing Between Genuine Threats and False Alarms
- Opportunities
- Inclusion of AI/ML
- Growing Trend Toward Cloud-based Services
- Improving Communication and Data Exchange Through Integration of Systems
- Challenges
- Lack of Universal Standards for Data Exchange in Security Industry
- Privacy and Data Breach Challenges
Case Study Analysis
- Rezonate Provided Insurance Company Unprecedented View of Environment and Mitigated Cloud Risks
- Acalvio Shadowplex Safeguarded Healthcare Provider's Critical Infrastructure with Deception Technology
- QOMPLX Secured MDR Dental Healthcare's Active Directory with Centralized Management and Threat Detection
- Varonis' Comprehensive Data Security Platform Helped Law Firm Enhance Visibility and Improve Data Security Compliance
Value Chain Analysis
- Component Providers
- Planning and Designing
- Infrastructure Deployment
- System Integration
- End-user Verticals
Pricing Analysis
- Average Selling Price Trend of Key Players, by Component
- Indicative Pricing Analysis
Technology Analysis
- Key Technologies
- Machine Learning & AI
- Complementary Technologies
- Big Data Analytics
- Biometric Authentication
- Adjacent Technologies
- Endpoint Security
- Cloud Security
Patent Analysis
- List of Major Patents
Trade Analysis
- Import Scenario of Data Processing & Encryption Hardware
- Export Scenario of Data Processing & Encryption Hardware
Business Model Analysis
- Perpetual Licensing Model
- Subscription-based Model
- Cloud-Delivered (SaaS) Model
- Managed Security Service Provider (MSSP) Model
- Freemium Model
- Open-Source Identity Threat Detection and Response Model
- Usage-based Billing Model
- Professional Services
Companies Featured
- Microsoft
- IBM
- CrowdStrike
- Zscaler
- Tenable
- Varonis
- BeyondTrust
- Cyberark
- Proofpoint
- Quest
- Oort (Cisco)
- Sentinelone
- Vectra
- Proficio
- Qomplx
- Adaptive Shield
- Acalvio
- Authomize
- Illusive
- Mindfire
- Rezonate
- Semperis
- Silverfort
- Stealthbits
- Vericlouds
- Microminder
- Quorum Cyber
- Mixmode
For more information about this report visit https://www.researchandmarkets.com/r/5gd2c7
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