Pune, India, Aug. 09, 2021 (GLOBE NEWSWIRE) -- The Global Managed Detection and Response Market Size 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 an advanced way to proactively detect cyber-attacks and threats and respond to them accordingly thereby helping the organization to protect their cyber data from attacks. Managed detection and response market is able to detect the malicious activities of the cyber infrastructure of the organization and helps to respond proactively to remove and minimize the cybercrimes.
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Machine learning or AI-powered managed detection and response solutions offers deeper detection of cybersecurity breaches rather than traditional MSSP (managed security service provider) which depends on the rules as well as signature. Apart from this, the MDR make use of AI and ML to find out the security threats as fast as possible. In fact, there are various companies that have been investing heavily in the advancements in AI-powered and ML managed detection and response services. In addition, the increasing instances of organization targeted by cyberattacks, government rules and requirements for compliance are expected to drive the demand for the MDR services during the forecast period. As the market has witnessed the increasing penetration of enterprise mobility and IoT, businesses from various domains have increased the use of mobile devices which resulted in increasing cases of cyberattacks and gain a competitive edge in the industry.
With the shift the operations of the business, enterprises IT infrastructure is also becoming challenges. In fact, many companies are facing difficulty to mitigate the risks and continuous analysis and troubleshooting of their IT infrastructure. This is a major restraining factor of the managed detection and response market.
Some Significant Developments Considered in the Report:
- 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.
COVID-19 Impact on the Global Managed Detection and Response Market
The QMI team is closely monitoring the impact of COVID-19 on the global managed detection and response industry, and it has been observed that the demand for managed detection and response is moderate during the pandemic time. It is anticipated to grow sharply during the analysis period. To control the spread of the pandemic, many countries across the globe have enforced strict lockdown norms and also imposed travel bans which reduced the company operations. This way it is hampering the overall market growth.
Global Managed Detection and Response Market, by Security Type
Based on the security type, the global managed detection 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 owing to the increasing number of cyberattacks in mobile devices which is boosting the managed detection and response market.
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Global Managed Detection and Response Market, by Deployment
Based on the 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 services, organization’s IT team can operate and monitor the applications by maintaining strict regulations. It also has the potential to monitor cyberattacks by known as well as 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 enterprises segment holds the largest market share owing to increasing incidents of cyberattacks. Most of the large organizations are opting for MDR services for protecting their business application from cyber threats.
Global Managed Detection and Response Market, by Industry Vertical
Based on the 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.
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 the rising awareness of the need for protecting the enterprise cyberinfrastructure.
Some Major Findings of the Corporate Wellness Market Report Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global managed detection and response market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global managed detection and response market, which include Esentire, Bae System, Fireeye, IBM, Optiv Security, Kudelski Security, Paladion, Arctic Wolf Network, Watchguard, Rapid7, Raytheon, Redscan, F-secure, Crowdstrike, Networks Group, and Mnemonic
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global managed detection and response market
- Impact of COVID-19 on the global managed detection and response market
Browse key industry insights spread across 165 pages with 135 market data tables and 91 figures & charts from the report, “Global Managed Detection and Response Market, by Security Type (Endpoint Security, Network Security, Application Security, Cloud Security, Others), Deployment (Cloud, On-Premise), Organization Size (Small and Medium-Sized Enterprises, Large enterprises), Industry Vertical (Banking, Financial Services, and Insurance, IT and Telecommunications, Government and Defense, Energy and Utilities, Manufacturing, Healthcare, Retail, Others), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — Market Size and Forecasting (2021–2030)” in-depth analysis along with the table of contents (ToC).
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