Richmond, Jan. 08, 2024 (GLOBE NEWSWIRE) -- According to a research report "Extended Detection and Response Market”, by Offering (Solutions, Services), Deployment Mode (On-premises, Cloud), Organization Size (Large Enterprises, SMEs), Vertical (BFSI, Government, Manufacturing, Energy and Utilities, Healthcare, Retail and eCommerce, IT and ITeS, Other) and Region - Global Forecast to 2030.
Global Extended Detection and Response Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 1.5 Billion |
| Market size value in 2030 | USD 9.3 Billion |
| CAGR (2023-2030) | 25.6% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Offering, Deployment Mode, Organization Size, Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Extended Detection and Response Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Global Extended Detection and Response (XDR) market is a critical component in the cybersecurity ecosystem, playing a vital role in safeguarding organizations against increasingly sophisticated cyber threats. XDR solutions provide a holistic approach to threat detection and response by integrating and correlating data from various security tools across an enterprise. This comprehensive view enables security teams to identify and mitigate potential threats more efficiently, reducing response times and minimizing the impact of cyber incidents. As cyber threats continue to evolve and diversify, the need for a unified and proactive defense strategy becomes paramount, making XDR solutions a cornerstone for organizations seeking to enhance their cybersecurity posture.
The XDR market benefits the industry by offering a centralized and streamlined approach to cybersecurity, simplifying the management of security operations. By consolidating multiple security technologies into a cohesive platform, XDR not only improves the overall efficiency of threat detection and response but also optimizes resource utilization within organizations. This results in cost savings and a more effective allocation of cybersecurity resources, allowing businesses to stay ahead of emerging threats and better protect their sensitive data and digital assets. In essence, the Global XDR market is instrumental in fortifying the resilience of organizations against the ever-evolving landscape of cyber threats.
Major Vendors in the Global Extended Detection and Response Market:
- Trend Micro
- Microsoft
- Bitdefender
- Palo Alto Networks
- CrowdStrike
- SentinelOne
- IBM
- Trellix
- Cybereason
- Elastic
- Fortinet
- Secureworks
- Cisco
- Sophos
- Broadcom
- Barracuda Networks
- eSentire
- Qualys
- Blueshift
- Rapid7
- Exabeam
- VMware
- Cynet
- LMNTRIX
- Stella Cyber
- Confluera
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Increasing Sophistication of Cyber Threats
The evolving landscape of cyber threats poses a significant driver for the global Extended Detection and Response market. As technology advances, cybercriminals continuously refine their tactics, techniques, and procedures (TTPs), resulting in more sophisticated and targeted attacks. Traditional security solutions often struggle to keep pace with these dynamic threats. XDR solutions, with their integrated and advanced threat detection capabilities, address this challenge by providing a holistic view of the entire IT environment. This includes endpoints, networks, cloud infrastructure, and applications, enabling organizations to detect and respond to complex threats in real-time. The demand for XDR is further fueled by the rise of advanced persistent threats (APTs), ransomware, and other stealthy attack vectors that require a comprehensive and adaptive security approach.
Market Dynamics
Drivers:
- Increasing sophistication of cyber threats
- Growing adoption of remote work and cloud services
- Stringent regulatory requirements for cybersecurity
- Rising awareness of the importance of proactive threat detection and response
Opportunities:
- Integration of artificial intelligence and machine learning in threat detection
- Expansion of EDR solutions in emerging markets
- Collaboration and partnerships among cybersecurity vendors
- Demand for cloud-based EDR solutions
Regulatory Compliance and Data Privacy Concerns
The growing emphasis on regulatory compliance and data privacy regulations is another key driver for the XDR market. Organizations worldwide face an increasing number of regulatory requirements designed to safeguard sensitive data and ensure proper cybersecurity measures. Compliance standards such as GDPR, HIPAA, and others mandate organizations to implement robust security measures and demonstrate proactive threat detection and response capabilities. XDR solutions play a crucial role in helping businesses meet these compliance requirements by offering centralized monitoring, incident response automation, and detailed forensic analysis. As non-compliance can result in severe financial penalties and reputational damage, the adoption of XDR becomes essential for organizations aiming to stay ahead of regulatory changes and ensure the integrity and confidentiality of their data.
North America dominates the market for Extended Detection and Response.
The dominating region in the global XDR market is North America, with the United States at the forefront. The region's dominance can be attributed to its large and technologically advanced business landscape, coupled with a high frequency of cyber threats. The U.S. has witnessed a surge in cyberattacks across various industries, prompting organizations to invest significantly in advanced cybersecurity solutions like XDR. According to industry reports, North America accounted for a substantial share of the global XDR market in recent years, with a notable increase in adoption across sectors such as finance, healthcare, and government.
However, emerging economies in the Asia-Pacific region, particularly China and India, showcase high growth potential in the XDR market. The increasing digitization, rapid economic growth, and a surge in cyber threats make these countries ripe for XDR adoption. The Asia-Pacific region is witnessing a rising awareness of cybersecurity importance, and governments are implementing stringent regulations, further propelling the demand for advanced threat detection and response solutions. As businesses in these countries continue to embrace digital transformation, the XDR market is expected to experience robust growth, presenting lucrative opportunities for market players.
The Solution Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Extended Detection and Response (XDR) market, the Offering segment comprises Solutions and Services. Solutions typically include software products designed to detect, investigate, and respond to cybersecurity threats across various endpoints, networks, and cloud environments. On the other hand, Services encompass the professional assistance, consulting, and support provided to organizations implementing and optimizing XDR solutions. The dominance of the Solutions segment can be attributed to the increasing demand for comprehensive and advanced threat detection technologies, driven by the rising sophistication of cyber threats. As organizations prioritize robust cybersecurity measures, XDR solutions, with their integrated approach and advanced capabilities, often take precedence in the market. This dominance is reinforced by the need for proactive threat management, rapid incident response, and the overall enhancement of cybersecurity postures, making XDR solutions a pivotal component in safeguarding against evolving cyber threats.
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