The global Managed Detection and Response (MDR) market size reached USD 4.9 Billion in 2021 and is expected to register a revenue CAGR of 18.1% during the forecast period, according to latest analysis by Emergen Research. Increased rates of cyber attacks in the Banking, Financial Service and Insurance (BFSI) sector is the key factor driving revenue growth of the market.
With the reader's comprehension in mind, the team of analysts at Emergen Research painstakingly put up the new study named "Global Managed Detection and Response Market." A sizable database on industry distribution is also included. The study takes into account both historical and current market conditions in order to forecast the worldwide Managed Detection and Response Market outlook during the forecast period (2022-2030). Researchers that thoroughly examined the global market were able to identify the factors affecting the industry's overall growth. Strong analytical techniques, such as SWOT analysis and Porter's Five Forces, are used in the research to assess the strengths, weaknesses, opportunities, and threats connected to the growth of different market segments.
Cyber attacks are increasing in both volume and sophistication, and any business, large or small, is considered vulnerable. While anti-virus software is regarded as a valuable investment, it is far from sufficient to prevent all (or even most) forms of attacks. To secure its digital assets and resources, every company needs layers of security measures, which are occasionally insufficient. In reality, while preventative measures are necessary, detection and reaction skills are also required in today's computer world. There is no single solution for stopping all cyberattacks, therefore companies must be prepared to notice the existence of an attacker on their systems and respond to the danger to reduce it.
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The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
The leading market contenders listed in the report are:
Accenture plc, The International Business Machines Corporation (IBM), Cisco Systems, Inc., Arctic Wolf Networks Inc., CrowdStrike Holdings, Inc., eSentire, Inc, FireEye, Raytheon Technologies Corporation, Rapid7, and IronNet, Inc
Target Audience of the Global Managed Detection and Response Market Report:
- Key Market Players
- Investors
- Venture capitalists
- Small- and medium-sized and large enterprises
- Third-party knowledge providers
- Value-Added Resellers (VARs)
- Global market producers, distributors, traders, and suppliers
- Research organizations, consulting companies, and various alliances interested in this sector
- Government bodies, independent regulatory authorities, and policymakers
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Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Managed Detection and Response Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Managed Detection and Response market on the basis of product, application, and region:
Segments Covered in this report are:
- Security Type Outlook (Revenue, USD Billion; 2019-2030)
- Network Security
- Endpoint Security
- Cloud Security
- Application Security
- Others
- Deployment Outlook (Revenue, USD Billion; 2019-2030)
- Cloud
- On-premise
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Banking, Financial Service, and Insurance (BFSI)
- Education and Training
- Aerospace and Defense
- Automotive
- Manufacturing
- Healthcare
- Government
- Retail
- IT & ITeS
- Others
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Some Key Highlights From the Report
- The network security segment accounted for a significant revenue share in 2021. Network security encompasses all of the measures necessary to protect the integrity of a computer network and the data contained inside it. To protect consumers and businesses from malware and cyber assaults such as distributed denial of service, good network security strategies include many security technologies. Network security is critical since it prevents hackers from gaining access to critical data and sensitive information. When hackers obtain such information, they can create a variety of problems, including identity theft, and asset theft.
- The cloud segment accounted for a significant revenue share in 2021. In many information technologies architecture-based organizations, cloud technology is used by corporate network managers to protect devices. Cloud-based deployment has various advantages, including prevention of Distributed denial-of-Service (DDoS), hyperjacking, and hypercall attacks. In addition, it is scalable, simple to collaborate with, easy to implement, and has low operational costs.
- The BFSI segment accounted for largest revenue share in 2021 owing to increase in cybersecurity assaults, spending on cybersecurity solutions, and financial data breaches. Data on users may be compromised by a banking industry with poor cybersecurity. The most common attack vectors employed by cybercriminals to target this business have been Trojans, Ransomware, Botnets, and Info Stealers. Rise in ransomware, malware and phishing assaults in banking, financial services, and insurance is driving revenue growth of the managed detection and response market.
- Threat detection segment accounted for largest revenue share in 2021. MDR monitors identifies, and responds to threats found within the organization from a distant location. Endpoint Detection and Response (EDR) tools often give essential visibility into endpoint security events. Managed investigation services help enterprises analyze risks quicker by adding context to security warnings. Organizations may have a better understanding of what happened when it happened, who was affected, and how far the attacker proceeded. They may design an effective reaction using this information.
- The market in Europe is expected to register rapid revenue CAGR over the forecast period. A key factor driving revenue growth of the market in this region the General Data Protection Law (GDPR) regulation of the European Union (EU). The GDPR has aided the market for managed detection and response services by adding a key component to the acquisition of personal data from companies used for commercial purposes and protecting that data from potential cyber security breaches. AXA, which is a big European insurer, was also a target of ransomware in 2021. It was assumed that the Avaddon ransomware organization, which made a statement claiming to have stolen three terabytes of data from AXA in the attack, including personal data and medical record data, was responsible for the ransomware attack. These factors are expected to considerably contribute to revenue growth of the market in the region.
Additional information offered by the report:
- Along with a complete overview of the global Managed Detection and Response market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Managed Detection and Response market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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