Endpoint detection and response (EDR) is a method used by organizations to detect and respond to security events on endpoints such as laptops, desktops and servers. EDR solutions provide visibility into endpoint activities, deliver real-time detection of threats and improve incident response capabilities for organizations. EDR solutions enable real-time application control, behavioral analysis and centralized management at the endpoint level.
The global Endpoint Detection And Response Market is estimated to be valued at Us$ 3430.46 Mn In 2023 and is expected to exhibit a CAGR Of 7.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising cybercrimes: Cybercrimes have increased manifolds in the recent years leading to data theft and monetary loss for organizations. According to Cybersecurity Ventures, cybercrime costs are predicted to hit US$ 10.5 trillion annually by 2025. EDR solutions provide enhanced visibility into endpoints and help organizations detect threats at the earliest. This is fueling the adoption of EDR among enterprises to strengthen cybersecurity posture and curb cybercrimes.
Focus on preventing lateral movement: Modern cyberattacks involve lateral movement within the network to steal sensitive data. EDR solutions offer capabilities like application control and lateral movement detection to minimize lateral movement impact. This allows organizations to focus more on preventing the spread of threats across endpoints rather than just detecting them. The ability of EDR solutions to curb lateral movement is augmenting their demand.
SWOT Analysis
Strength: EDR solutions provide visibility into the entire IT infrastructure, enabling centralized protection across endpoints and networks. EDR solutions detect advanced threats using behavioral analytics and machine learning techniques. They generate few false positives and allow automated investigation and response.
Weakness: EDR solutions require extensive deployment and configuration efforts. They need to integrate with various existing security tools. Due to the complex nature of EDR technology and resources required for maintenance, it may not be suitable for small organizations with limited security budgets and staffing.
Opportunity: Increasing instances of unauthorized access, data breaches, and sophisticated cyber-attacks are driving organizations to adopt proactive security measures like EDR. The rising demand for threat detection and response capabilities is prompting vendors to innovate EDR tools with additional features. Rapid digital transformation across industries is also expanding the market scope.
Threats: Open-source and free threat intelligence tools offer basic detection capabilities, reducing the appeal of commercial EDR solutions. Stringent compliance regulations in some regions may limit the types of EDR functions that can be deployed. Skilled security talent shortage also poses a challenge for effective utilization of EDR tools.
Key Takeaways
The Global Endpoint Detection And Response (EDR) Market Demand is expected to witness high growth in the forecast period of 2023 to 2030.
Regional analysis-
North America currently dominates the market and is expected to maintain its leading position over the forecast years. This can be attributed to growing security spending by large enterprises in sectors like banking, healthcare and government in the US and Canada. Asia Pacific is projected to be the fastest growing region owing to rapid adoption of advanced security solutions by organizations in countries like China, India and Japan amid the growing cyber threat landscape.
Key players operating in the Endpoint Detection and Response (EDR) market are Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd€TMs Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding Services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., SCA Pharma, and Vertisis Custom Pharmacy. The market is highly competitive with major players focusing on product innovation and acquisition strategies to strengthen their presence.
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