According to a research report "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" published by MarketsandMarkets, the global MDR market size is expected to grow from an estimated value of USD 2.6 billion in 2022 to USD 5.6 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 16.0% from 2022 to 2027. Growing incidents of business email compromises, ransomware, crypto jacking technological advancements, stringent government regulations and compliances, and increasing instances of internal and external security breaches and attacks are some of the factors that are driving the market growth.
Browse 330 market data Tables and 39 Figures spread through 276 Pages and in-depth TOC on "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"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/managed-detection-and-response-market-168039027.html
By deployment mode, cloud segment is to hold a larger market size during the forecast period
Based on deployment mode, the MDR market is segmented into two categories such as on-premises and cloud. The increase in the need to reduce the cost associated with the management of solutions is projected to drive the adoption of cloud based MDR solutions. The need for decentralized cloud storage enables remote maintenance, management, and backup of data with benefits, such as accessibility, cost savings, and data security, for businesses encouraging IT specialists to move their data in the cloud. The increase in the need among companies to ensure their cloud storage is secure and aligns with regulations to protect company and its data from possible cyberattacks with the ongoing remote work culture. All these factors are projected to drive the growth of the cloud segment in the MDR market.
By verticals, BFSI segment to hold a larger market size during the forecast period
The BFSI vertical is expanding due to the strong growth of the existing financial services organizations and the entry of new players in the market. With the advancement of technologies, new and advanced products and services are introduced to enhance business operations. The large customer base of this vertical use facilities such as mobile banking, internet banking, and online banking. This makes this industry a lucrative target for frauds. MDR services are majorly adopted by the BFSI vertical to protect employees, customers, assets, offices, branches, and operations. The rise in the adoption of the BYOD and work from home trends, cloud storage data leaks, and fragile data center security have increased the attacks on the BFSI infrastructure. Various government mandates, such as Personal Information Protection and Electronic Documents Act (PIPEDA), along with standards, including PCI-DSS and SOX, make it mandatory for financial institutions to adopt MDR services.
By region, Asia Pacific to grow at the highest CAGR during the forecast period
In Asia Pacific, organizations comply with different regulations such as GDPR, PCI, SOX, CCPA, HIPAA, and Monetary Authority of Singapore (MAS) to establish security standards and audit controls to ensure that business and customer data is always protected. MDR services play a crucial role in compliance enablement and risk management by continuously monitoring customer data. According to the Global Cyber Security Index, Australia and Malaysia are best prepared to tackle the cybersecurity issues in Asia Pacific. In response to these modern threats, Singtel and FireEye collaborated to set up and jointly operate Advanced Security Operation Centers (ASOCs) in Singapore and Sydney. Such initiatives by market players are expected to drive the market growth in the region.
Major vendors in the global MDR market include CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US), Kudelski Security (Switzerland), SentinelOne (US), Proficio (US), Expel (US), Secureworks (US), Alert Logic (US), Trustwave (US), Mandiant (US), Binary Defense (US), Sophos (UK), Esentire (Canada), Deepwatch (US), Netsurion (US), Gosecure (US), LMNTRIX (US), Underdefense (US), Ackcent (Spain), Cybereason (US), Critical Start (US), Cysiv (US), and Critical Insight (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441