Managed Detection and Response Market Size to Surpass USD 6.29 billion by 2030, exhibiting a CAGR of 22.0%

As per the report by Fortune Business Insights, the Managed Detection and Response Market size is projected to reach USD 6.29 billion in 2030, at a CAGR of 22.0% during the forecast period, 2023-2030

Managed Detection and Response Market

Pune, India, Nov. 28, 2023 (GLOBE NEWSWIRE) — The global Managed Detection and Response Market size was valued at USD 1.29 billion in 2022 and is projected to reach USD 6.29 billion by 2030, exhibiting a CAGR of 22.0% during the forecast period. Fortune Business Insights presents this information in their report titled “Global Managed Detection and Response Market Forecast, 2023-2030.”

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Managed Detection and Response (MDR) refers to the amalgamation of deep threat analytics, network detection technologies, cloud environments, human expertise, and different endpoints to aid businesses in reducing the costs and risks related to data breaches and cyberattacks. The market growth can be ascribed to the surge in the adoption of cloud computing and the lack of cybersecurity talent.

Notable Industry Development:

March 2023- Adarma, an independent specialist in detection and response, unveiled a new service within its MDR solutions based on Microsoft XDR technology. It is suitable for companies that do not have in-house cybersecurity capabilities and need 24×7 threat detection and response.

Key Takeaways

• Managed Detection and Response Market size in North America was USD 0.55 billion in 2022
• Surge in Cyberattacks Globally Positively Impacted Market Growth
• Real-time Threat Detection Offered by Managed Endpoint Detection to Fuel Segment Growth
• Tighter Compliance Needs to Augment Large Enterprises Segment Growth

Discover the Leading Players Featured in the Report:

“Companies leading the global Managed Detection and Response Market are CrowdStrike (U.S.), Secureworks, Inc. (U.S.), Arctic Wolf Networks Inc. (U.S.), Palo Alto Networks (U.S.) , Rapid7 (U.S.), WithSecure (Finland), Atos SE (France), Accenture (Ireland), TATA Consultancy Services Limited (India), Sophos Ltd. (U.K.)”

Report Scope & Segmentation

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Drivers and Restraints:

Unification of Artificial Intelligence (AI) and Machine Learning (ML) to Foster Market Growth

One of the major factors propelling the managed detection and response market growth is the amalgamation of Machine Learning (ML) and Artificial Intelligence (AI). Vast amounts of data can be analyzed in real-time using AI and ML algorithms, which would aid in process automation, predictions, and pattern recognition.

However, concerns related to data security and steep costs may impede market growth.

Segmentation

By Type

• Managed Endpoint Detection and Response (MEDR)
• Managed Network Detection and Response (MNDR)
• Cloud Detection and Response (CDR)
• Others (Application Security and others)

By Deployment Mode

• Cloud-based MDR
• On-premises MDR

By Industry

• BFSI
• Healthcare & Life Sciences
• IT & Telecom
• Manufacturing
• Retail & E-commerce
• Government
• Others (Education, Media & Entertainment, and others)

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

Regional Insights:

North America to Dominate Owing to Growing Cloud Computing Adoption

North America market for managed detection and response is expected to dominate during the forecast period on account of the surging adoption of cloud computing.

Asia Pacific market for managed detection and response is poised to witness the highest growth rate during the forecast period due to growing cyber threats.

Quick Buy – Managed Detection and Response Market Research Report:

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Competitive Landscape:

Companies Focus on Product Innovations to Deliver Enhanced Solutions

Collaborations and mergers and acquisition strategies are being adopted by leading market players to expand their operations. Several companies are also focusing on launching enhanced capabilities of managed detection and response solutions for their customers.

FAQs

How big is the Managed Detection and Response Market?

The Managed Detection and Response Market size was USD 1.29 billion in 2022. It is expected to reach USD 6.29 billion by 2030.

How fast is the Managed Detection and Response Market growing?

The Managed Detection and Response Market will exhibit a CAGR of 22.0% during the forecast period, 2023-2030.

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