Extended Detection and Response Market by Component, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Extended Detection and Response Market by Component (Solutions and Services), Deployment Mode (Cloud and On-premises), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, Government, Retail and eCommerce) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The XDR market size is projected to grow from USD 985 Million in 2022 to USD 2,358 Million by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period.

The growing scale of cyberattacks has heightened the need for XDR solutions as they offer better visibility into the cyber threat landscape. Some of the key trends and opportunities that drive the market growth are evolving cyber threat landscape; the need for real time monitoring, visibility, analysis, and response across security stacks; shift from the usage of EDR to XDR solutions; growing use of AI/ ML powered XDR solutions; and heightened adoption of manager XDR.

By organization size, the SMEs segment to register the highest growth rate during the forecast period

SMEs are moving toward the adoption of XDR solutions and services, as it is one of the best approaches to protect business operations from advanced threats. The XDR market for the SMEs segment is expected to grow at a higher CAGR - as compared to large enterprises - due to the increasing sophistication of cyber attacks. XDR is the best fit for SMEs as cost-effectiveness is the biggest advantage.

Based on deployment mode, the cloud segment to grow at the highest growth rate during the forecast period

The cloud deployment offers is inexpensive, scalable, and offers 24/7 support services. End-users are migrating from the use of traditional on-premises XDR solutions to hosted XDR solutions. XDR uses the cloud deployment model to scale to meet the data analysis needs - this helps in the identification of advanced persistent threats or other cyber attacks. For example, Google Cloud and Cybereason's cloud-native XDR solution enhances the speed and efficacy to defend against cyber threats. Some of the key vendors offering on-premises and cloud XDR deployment modes are Secureworks, IBM, Trellix, Cisco, and eSentire.

Based on vertical, the BFSI segment to hold the largest market size during the forecast period

The BFSI industry is a lucrative target for frauds and external threat actors. Its customer base uses facilities such as mobile banking, internet banking, and online banking. XDR solutions help in delivering holistic visibility into the entire BFSI security ecosystem. Financial organizations particularly use XDR solutions to protect critical customer and employee data. Financial services are looking forward to deploy XDR as it extends protection beyond endpoints to provide detection and response across networks or cloud.

Asia Pacific to register the highest growth rate during the forecast period

According to a survey by Palo Alto Networks, enterprises across four countries in Asia Pacific: Australia, China, India, and Singapore, revealed that insecure interfaces and APIs, data breaches, data losses, and misconfigurations are the top cybersecurity risks in the region.

Market Dynamics

Drivers

• Evolving Cyber Threat Landscape
• Need for Real-Time Monitoring, Visibility, Analysis, and Response Across Security Stacks
• Shift from Edr to Xdr

Restraints

• Lack of Trust Among Enterprises to Allow Full Control of System Architecture to Xdr Providers
• Xdr Deployment Issues

Opportunities

• Growing Use of Ml/Ai-Powered Xdr Services
• Increasing Adoption of Managed Xdr

Challenges

• Lack of Awareness About Xdr and Vendor-Lock in Period

Companies Mentioned

• At&T
• Bitdefender
• Blueshift
• Broadcom
• Cisco
• Confluera
• Crowdstrike
• Cybereason
• Cynet
• Elastic
• Esentire
• Exabeam
• Fortinet
• Hunters
• Ibm
• Lmntrix
• Microsoft
• Palo Alto Networks
• Qualys
• Rapid7
• Secureworks
• Sentinelone
• Sophos
• Trellix
• Trend Micro

For more information about this report visit https://www.researchandmarkets.com/r/pu6mln