Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) -- The "Global 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 - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Managed Detection and Response (MDR) is estimated to be worth USD 4.1 billion in 2024 and is projected to reach USD 11.8 billion by 2029, at a CAGR of 23.5%
The research encompasses the size of the managed 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.
Businesses are facing an ever-evolving threat landscape characterized by advanced malware, ransomware, and targeted attacks that can bypass traditional security measures. Organizations increasingly turn to MDR services to augment their cybersecurity capabilities in response to these challenges.
MDR solutions offer continuous monitoring, threat detection, and rapid response capabilities, providing businesses with the agility and resilience needed to effectively combat cyber threats in real-time. The shortage of skilled cybersecurity professionals and the complexity of managing security infrastructure further drive the adoption of MDR services as businesses seek outsourced expertise to bolster their defenses against evolving threats. This convergence of factors underscores MDR's critical role in helping organizations stay ahead of cyber adversaries and protect their digital assets.
The forecasted dominance of the North American region underscores the region's strong focus on cybersecurity and technological innovation. North America is home to many leading cybersecurity firms and technology hubs, driving advancements in Managed Detection and Response (MDR) solutions.
The region's robust regulatory framework, including regulations like GDPR and HIPAA, mandates stringent data protection measures, further fueling the demand for comprehensive security services. The prevalence of high-profile cyber-attacks and data breaches in North America has heightened awareness among organizations about the importance of proactive threat detection and response. As businesses prioritize cybersecurity investments to protect their digital assets and customer data, North America is poised to maintain its leadership position in the MDR market during the forecast period.
By deployment mode, the cloud segment is expected to achieve a larger market share during the forecast period.
Businesses recognize cloud deployment's numerous benefits, including scalability, flexibility, and cost-effectiveness. Managed Detection and Response (MDR) solutions delivered via the cloud provide organizations with the agility and accessibility needed to protect their digital assets effectively. Cloud-based MDR services offer rapid deployment, seamless updates, and centralized management, enabling businesses to quickly adapt to changing threat landscapes and scale their security infrastructure as needed.
The cloud's inherent resilience and redundancy enhance the reliability and availability of MDR services, ensuring continuous protection against evolving cyber threats. As organizations continue to embrace cloud technologies to drive innovation and efficiency, the cloud segment is poised to maintain its leadership position in the MDR market during the forecast period.
By vertical, the BFSI segment is expected to achieve a larger market share during the forecast period.
The anticipated larger market share for the BFSI segment underscores the heightened cybersecurity concerns within this industry vertical. BFSI organizations handle vast amounts of sensitive financial data and are prime targets for cyber attacks such as data breaches, fraud, and ransomware. As monetary transactions increasingly migrate to digital platforms, the risk landscape becomes more complex, necessitating robust security measures.
Managed Detection and Response (MDR) solutions offer BFSI institutions advanced threat detection, continuous monitoring, and rapid incident response capabilities to protect against sophisticated cyber threats. Stringent regulatory requirements, such as PCI DSS and GDPR, compel BFSI organizations to implement comprehensive cybersecurity measures to ensure compliance and safeguard customer data. As cybersecurity remains a top priority for BFSI firms to maintain trust and integrity, the demand for MDR solutions tailored to the unique challenges of this sector is expected to drive significant market growth during the forecast period.
The report provides insights on the following pointers:
- The report offers insights into various aspects: As businesses increasingly recognize the critical importance of managed detection and response, there is a growing demand for comprehensive solutions and services. These encompass a range of tools that enable organizations to achieve secure and authentic connectivity. While challenges such as the need for alignment and technology integration are acknowledged, the report emphasizes the dynamic nature of managed detection and response technologies and evolving market trends. Additionally, it provides valuable insights into the future direction of the managed detection and response market.
- Product Development/Innovation: The report provides detailed insights into emerging technologies, research and development activities, and product and solution launches within the managed detection and response market.
- Market Development: The report offers extensive details regarding profitable markets, analyzing the managed detection and response market across diverse regions.
- Market Diversification: The report provides thorough information on newly developed products and solutions, unexplored geographical areas, recent advancements, and investments in the managed detection and response market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 287 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.1 Billion |
| Forecasted Market Value (USD) by 2029 | $11.8 Billion |
| Compound Annual Growth Rate | 23.5% |
| Regions Covered | Global |
Companies Featured
- Crowdstrike
- Rapid7
- Red Canary
- Arctic Wolf
- Kudelski Security
- Sentinelone
- Proficio
- Expel
- Secureworks
- Alert Logic
- Trustwave
- Mandiant
- Binary Defense
- Sophos
- Esentire
- Deepwatch
- Netsurion
- Gosecure
- Lmntrix
- Underdefense
- Ackcent
- Cybereason
- Critical Start
- Cysiv
- Critical Insight
For more information about this report visit https://www.researchandmarkets.com/r/dbrfv2
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