DUBLIN--(BUSINESS WIRE)--The "Global Managed Detection and Response (MDR) Market by Security Type (Network, Endpoint, Cloud), Deployment Mode (On-Premises, Cloud), Organization Size (SMEs, Large Enterprises), Vertical, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global MDR market 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% from 2022 to 2027.
Some of the factors that are driving the market growth includes addressing of shortage of skilled cybersecurity professionals and budget constraints, government regulations, and strict compliance for adoption of MDR services across the segments. However, lack of trust in third-party applications and lack of modern IT infrastructure are expected to hinder the market growth.
Endpoint Security segment to hold a larger market size during the forecast period
Based on security type, the MDR market is segmented into endpoint security, network security, cloud security, and other security types. Endpoint security solutions include antivirus, antispyware/malware, encryption personal firewall, IDS/IPS, patch and configuration management, behavioral blocking software, and virtualization security. These solutions provide continuous real-time threat detection, prevention, and response to the network devices (endpoints). The rapid growth in the number of mobile devices across the globe is one of the driving factors for this market. Due to the increasing number of mobile devices, networks are getting more vulnerable to cyberattacks.
SMEs to grow at a highest CAGR during the forecast period
Based on organization size, the MDR market is segmented into two categories such as large enterprises and SMEs. SMEs are more susceptible to such cyberattacks as robust and comprehensive security solutions are not implemented in SMEs due to financial constraints. SMEs are moving toward the adoption of MDR services as MDR services are one of the best approaches to protect business operations from advanced threats. The MDR market for the SMEs segment is expected to grow at a higher CAGR due to the increasing instances of cyberattacks and the inability of the traditional security services to prevent such attacks.
Asia Pacific to grow at the highest CAGR during the forecast period
Tremendous growth opportunities in Asia Pacific region has been witnessed by MDR market. The region is highly concerned with the increase in security spending due to the ever-growing threat landscape. The region has a large number of established SMEs. The majority of SMEs have a traditional defense mechanism. This has led to the increase in the adoption of MDR services to protect against advanced and sophisticated threats that are hard to be detected. Moreover, increasing operational complexities and organizations lacking cybersecurity talent has paved the way for MDR market in Asia Pacific.
Market Dynamics
Drivers
- Growing Incidents of Business Email Compromise, Ransomware, and Cryptojacking Threats
- MDR Addresses a Shortage of Skilled Cybersecurity Professionals and Budget Constraints
- Government Regulations and the Need for Compliance Drive the Adoption of MDR Services
- Technological Proliferation and Increasing Penetration of IoT
Restraints
- Lack of Trust in Third-Party Applications
Opportunities
- Introduction of ML/AI-Powered MDR Services
- Increasing Adoption of MDR Across SMEs
Challenges
- Lack of Modern IT Infrastructure
- Potential Cyberattacks on MDR Service Provider's Infrastructure
Companies Mentioned
- Ackcent
- Alert Logic
- Arctic Wolf
- Binary Defense
- Critical Insight
- Critical Start
- CrowdStrike
- Cybereason
- Cysiv
- Deepwatch
- eSentire
- Expel
- GKN
- GoSecure
- Kudelski Security
- LMNTRIX
- Mandiant
- Netsurion
- Proficio
- Rapid7
- Red Canary
- Secureworks
- SentinelOne
- Sophos
- Trustwave
- UnderDefense
For more information about this report visit https://www.researchandmarkets.com/r/68gu98
