Managed Detection and Response Market

BAE Systems and FireEye are the Leading Players in the Managed Detection and Response Market

The Managed Detection and Response (MDR) market is expected to gain traction, owing to the rising instances of web attacks, covering cyber thefts, espionage, vandalism, and fraudulent activities; government regulations and need for compliance; and the increasing penetration of Internet of Things (IoT) across various end-user applications. The technological proliferation and increasing adoption of enterprise mobility-like concepts are some of the other factors, which are likely to contribute to the growth of the MDR market. MarketsandMarkets forecasts the MDR market size to grow from USD 419.7 Million in 2017 to USD 1,658.0 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 31.6% during the forecast period.

There are several established players in the MDR market, such as Arctic Wolf Networks (US), BAE Systems (UK), CrowdStrike (US), eSentire (Canada), FireEye (US), F-Secure (Finland), IBM (US), Kudelski Security (Switzerland), mnemonic (Norway), NetWorks Group (US), Optiv Security (US), Paladion (India), Rapid7 (US), Raytheon (US), Redscan Cyber Security (UK), and WatchGuard (US). These leading players have adopted various strategies, such as partnerships, collaborations, agreements, mergers, acquisitions, and new product developments, to achieve growth in the MDR market.

BAE Systems is one of the leading players in the MDR market. The company adopts both organic and inorganic growth strategies to enhance its market presence. It has made various partnerships and strategic alliances with local as well as global players. In April 2017, BAE Systems collaborated with CA Technologies, a software and service provider for a research project, to uncover cyber threats that attack the IT Managed Service Providers (MSPs). In late 2016, BAE Systems partnered with NFU Mutual, a UK registered mutual insurance composite, to develop solutions that would help organizations to protect themselves from fraudulent activities. Moreover, in February 2016, BAE Systems partnered with Nanyang Technological University, Singapore, to develop next-generation cybersecurity solutions, leveraging advanced technologies such as machine learning, for advanced threat detection and response.

FireEye is another established vendor in the MDR market. The company has a strong geographic presence worldwide, including the regions of North America, Asia Pacific (APAC), Middle East and Africa (MEA), Europe, and Latin America. The company focuses more on inorganic growth strategies to tap the benefits of the MDR market. In March 2016, FireEye partnered with Interset, a machine learning platform and cybersecurity company, to integrate Interset Advanced Threat Detection Platform and FireEye’s Threat Analytics Platform (TAP). This integration would help FireEye deliver proactive insights on the stage that the enterprises have been attacked and would also provide ways to counter advanced cyber-attacks. In early 2016, FireEye acquired Invotas, a provider of security automation and orchestration technology, and iSIGHT Partners, a cyber threat intelligence provider. These acquisitions are helping FireEye to provide assistance in automation and orchestration of the cybersecurity processes and threat intelligence for enterprises, and create the most advanced and comprehensive private cyber threat intelligence operation.

Related Reports:

Managed Detection and Response Market by Security Type (Endpoint, Network, Application, Cloud), Deployment (On-Premises, Hosted), Organization Size (SMEs, and Large Enterprises), Industry Vertical, and Region - Global Forecast to 2022

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Report Code
TC 5752
Published ON
Nov, 2017
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