Dublin, Sept. 15, 2023 (GLOBE NEWSWIRE) -- The "Global Extended Detection and Response (XDR) Market by Offering (Solutions, Services), Deployment Mode (Cloud, On-premises), Organization Size (SMEs, Large Enterprises), Vertical (BFSI, Government, Retail & eCommerce) and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global Extended Detection and Response (XDR) market is poised for substantial growth, projected to surge from USD 1.7 billion in 2023 to an impressive USD 8.8 billion by 2028, reflecting a remarkable Compound Annual Growth Rate (CAGR) of 38.4%
This comprehensive report equips new market entrants and industry leaders with critical insights, providing precise revenue approximations for various segments and subsegments within the XDR market. By comprehending the competitive landscape, key buyers can strategically position their businesses and formulate effective go-to-market strategies.
Moreover, stakeholders gain a deep understanding of market trends, accompanied by insights into drivers, opportunities, restraints, and challenges. XDR represents the next evolutionary step beyond Endpoint Detection and Response (EDR), offering extended visibility, analysis, and response capabilities across a broad spectrum of security domains, including networks, clouds, endpoints, and applications.
While EDR focuses on endpoint threat removal, XDR expands its scope to detect and address threats across various security points, encompassing emails, networks, servers, and the cloud. This transformative technology offers advantages such as accelerated threat detection and enhanced investigation and response times.
Notable vendors in the XDR market include Palo Alto Networks, Secureworks, Trend Micro, CrowdStrike, and SentinelOne. The market's growth is propelled by dynamic cyber threats, the industry's shift from EDR to XDR, the increasing complexity of IT environments, and the growing demand for real-time monitoring and analysis.
By vertical, retail and eCommerce hold the highest CAGR during the forecasted period
The retail and eCommerce vertical exhibits the highest CAGR in the XDR market due to factors such as the sector's digital transformation, high transaction volumes, regulatory compliance requirements, the need for online fraud prevention, and the significance of maintaining customer trust and brand reputation.
XDR solutions provide comprehensive security measures to protect sensitive customer data, detect and respond to cyber threats, meet compliance standards, prevent online fraud, and enhance customer trust, making them essential for the retail and eCommerce industry's growth. Thus, making it a promising and lucrative vertical segment in the XDR market.
By deployment mode, the cloud segment holds a higher growth rate during the forecast period
The cloud deployment mode is expected to grow at a higher CAGR in the XDR market during the forecast period due to its scalability, flexibility, cost efficiency, rapid deployment, global accessibility, and integration with cloud services.
Cloud-based XDR solutions offer organizations the ability to easily scale their security infrastructure, reduce costs, deploy quickly, access security operations from anywhere, and integrate with other cloud services, making them a popular choice in the market.
By organization size, SMEs hold a higher CAGR during the forecasted period
SMEs hold the highest CAGR in the XDR market due to several factors. XDR solutions offer cost-effectiveness, simplified management, comprehensive threat detection and response, scalability, and flexibility. SMEs benefit from these advantages as they have limited budgets and resources and face increasing cyber threats.
While larger enterprises still have a significant market share, the growth rate of SMEs in XDR adoption during the forecasted period is driven by their specific needs and the benefits offered by XDR solutions. Thus, SMEs are expected to experience significant growth in XDR adoption during the forecasted period.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 270 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.7 Billion |
| Forecasted Market Value (USD) by 2028 | $8.8 Billion |
| Compound Annual Growth Rate | 38.4% |
| Regions Covered | Global |
Premium Insights
- Evolving Cyber Threat Landscape and Growing Use of ML/AI-Powered XDR Solutions to Drive XDR Market Growth
- Solutions Segment to Account for Larger Market Share in 2023
- On-Premises Segment to Account for Larger Market Share in 2023
- Large Enterprises Segment to Account for Larger Market Share in 2023
- Banking, Financial Services, and Insurance Segment to Account for Largest Market Share in 2023
- Asia-Pacific to Emerge as Best Market for Investments in Next Five Years
Market Dynamics
Drivers
- Evolving Cyber Threat Landscape/Increasing Cyber Attacks
- Need for Real-Time Monitoring, Visibility, Analysis, and Response Across Security Stacks
- Increase in Complexity of IT Environments
- Integration of Security Technologies into Unified Platform
- Need for Shift from EDR to XDR
Restraints
- Lack of Trust Among Enterprises to Provide Complete Control of System Architecture to XDR Providers
- XDR Deployment Issues
- Privacy and Compliance Concerns with XDR
Opportunities
- Growing Use of ML/AI-Powered XDR Services
- Rising Deployment of MXDR Solutions Across SMEs
- Adoption of XDR in SecOps
- Increasing Adoption of Managed XDR
Challenges
- Lack of Awareness About XDR and Vendor Lock-In Period
- Value Chain Analysis
Technology Analysis
- Artificial Intelligence (AI) and Machine Learning (ML)
- IoT Security
- Network Traffic Analysis (NTA) Tools
- User and Entity Behavior Analytics (UEBA)
- Endpoint Detection and Response (EDR) Tools
Use Cases
- ENPI Group Reduced Risk with Better Endpoint Visibility
- ING Used Microsoft 365 Defender Solution to Improve Security Posture
- Think Whole Person Healthcare Chose Palo Alto Networks Cortex XDR for Endpoint Protection
- Carbery Group Deployed Trend Micro's Managed XDR Services
- GKN Wheels & Structures Chose Securework's Managed XDR Solutions for All-Time Proactive Monitoring
Tariff and Regulatory Landscape
- Payment Card Industry Data Security Standard (PCI DSS)
- Health Insurance Portability and Accountability Act (HIPAA)
- Federal Information Security Management Act (FISMA)
- Gramm-Leach-Bliley Act (GLBA)
- Sarbanes-Oxley Act (SOX)
- International Organization for Standardization (ISO) Standard 27001
- European Union General Data Protection Regulation (EU GDPR)
- FFIEC Cybersecurity Assessment Tool
- NIST Cybersecurity Framework
- Defense Federal Acquisition Regulation Supplement (DFARS)
- CSA Star
Business Model of XDR
- Managed Security Service (MSS)
- Subscription Service
- Integration and Consulting Service
Company Profiles
Key Players
- Trend Micro
- Microsoft
- Bitdefender
- Palo Alto Networks
- Crowdstrike
- SentinelOne
- IBM
- Trellix
- Secureworks
- Cisco
Other Players
- Sophos
- Broadcom
- Cybereason
- Elastic
- Fortinet
- Barracuda Networks
- eSentire
- Qualys
- Blueshift
- Rapid7
- Exabeam
- VMware
- Startups
- Cynet
- LMNTRIX
- Stellar Cyber
- Confluera
For more information about this report visit https://www.researchandmarkets.com/r/d5xe19
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