Chicago, July 29, 2022 (GLOBE NEWSWIRE) -- Extended Detection and Response (XDR) Market size is projected to grow from USD 985 million in 2022 to USD 2,358 million by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period according to a new report by MarketsandMarkets™. The growing scale of cyberattacks has heightened the need for XDR solutions. Organizations are increasingly transitioning for point solutions to XDR solution as XDR provides visibility across many important data sources including endpoint, network, cloud, email, identity, IoT/OT, and others to find and respond to threats often missed by individual point solutions.
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Browse in-depth TOC on “Extended Detection and Response Market”
279 - Tables
45 - Figures
235 - Pages
Scope of the Report
| Report Metrics | Details |
| Market size available for years | 2018–2027 |
| Base year considered | 2021 |
| Forecast period | 2022–2027 |
| Forecast units | Value (USD Millon) |
| Segments covered | Component, Deployment Mode, Organization Size, Vertical, and Region |
| Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America |
| Major companies covered | Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (US), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US), LMNTRIX (US), Hunters (Israel), Confluera (US) |
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The COVID-19 pandemic has positive impacts on the XDR market. The adoption of XDR has increased due to the rising cyber threats and incidents and the increasing trend of BYOD and WFH globally; the use of managed security and XDR has increased. Given to the pandemic, the cyberattacks have increased by 151% in 2021, an average of 270 cyberattacks per organizations. Due to this, local firms have turned to global hyper-scalers for assistance with XDR solutions and services implementation to make their operations more efficient, scalable, and secure.
The services segment by component is projected to grow with a highest CAGR in the forecast period. The services segment has witnessed tremendous growth in recent years. Both SMEs and large enterprises are increasingly relying on XDR providers to better respond to cybersecurity incidents. Financial services, healthcare, and eCommerce verticals have witnessed huge data losses due to security breaches. Enterprises are still flourishing in the development of skilled cybersecurity professionals. Hence, they are highly dependent on XDR for strengthening their cybersecurity capabilities.
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The cloud deployment mode in the XDR market is projected to have the larger market size. Cloud hosted deployment is also known as the SaaS model. Such deployment modes significantly reduce the cost of purchase and maintenance of hardware, as it is handled and managed by hosted providers. Additionally, organizations can scale up and down, depending on their use of services. Cloud hosted services offer pay-as-you-use pricing models to end users. Organizations are adopting hosted services, as they are easy to install and scalable.
The growing scale of cyberattacks has heightened the need for XDR solutions. Organizations are seeking out for solutions that offer better visibility into the cyber threat landscape. Organizations are considering XDR solutions as they aren’t satisfied with security outcomes from SIEM, or legacy EDR, or even MSSPs. XDR growth rate is primarily attributed to the detection of security threats not just on endpoints but also in the cloud, on mobile devices, and across user identities. Capabilities offered by XDR such as advanced analytics (AI and ML) to detect and identify complex attacks hold huge potential for the market to grow in future.
Key Players
Key and innovative vendors in extended detection and response market include Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US), LMNTRIX (US), Hunters (Israel), and Confluera (US).
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Managed Detection and Response (MDR) Market by Security Type (Network, Endpoint, Cloud), Deployment Mode (On-Premises and Cloud), Organization Size (SMEs and Large Enterprises), Vertical and Region - Global Forecast to 2027
