Global Managed Detection and Response Market Forecast to 2030
The most current market research report from Emergen Research, which focuses on the global Managed Detection and Response Market, provides in-depth analysis of each of the market's major segments. The research on the global Managed Detection and Response Market include information on market size, revenue growth rate, industry data, revenue splits by regional markets, gross margins, production costs, and product portfolios. The report also highlights a number of other micro- and macroeconomic factors, including the most important drivers, opportunities, trends, difficulties, supply and demand ratios, production and consumption patterns, stringent regulatory frameworks, and a wide range of other factors.
According to the most recent report by Emergen Research, the global Managed Detection and Response (MDR) market size reached USD 4.9 billion in 2021 and is anticipated to experience a revenue CAGR of 18.1% during the projected period. The primary driver of the market's revenue growth is an increase in the frequency of cyberattacks against the Banking, Financial Services, and Insurance (BFSI) industry.
Each organisation, no matter how big or little, is vulnerable to the rising volume and sophistication of cyberattacks. Antivirus software is thought to be a worthwhile investment, yet it is insufficient to stop all (or perhaps most) threats. Every firm needs multiple layers of security safeguards, some of which are periodically insufficient, to protect its digital assets and resources. In actuality, in today's digital environment, detection and reaction abilities are also vital in addition to preventative measures. As there is no one way to eliminate all cyberattacks, businesses must be ready to identify attackers on their systems and take action to lessen the threat.
Few companies have the in-house resources to conduct their own threat-hunting and incident response. Managed Detection and Response (MDR) is a service that evolved from the requirement for companies to be proactive in looking for and responding to security threats and vulnerabilities in their environment. MDR providers, who are frequently connected with Managed Security Service Providers (MSSPs), manage both proactive and reactive cybersecurity operations using proprietary detection and incident response technologies and platforms. MDR security service providers tools and platforms are also monitored and maintained by their qualified security experts and engineers that monitor a customer's network for suspicious behavior, assess incidents when they are identified, and respond in a way that mitigates the danger.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Managed Detection and Response market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled 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
Research Report on the Managed Detection and Response Market Addresses the Following Key Questions:
- Who are the dominant players of the Managed Detection and Response market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Managed Detection and Response market?
- What are the key growth drivers and restraining factors of the Managed Detection and Response market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Managed Detection and Response market and its key segments?
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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.
Market Overview:
The report bifurcates the Managed Detection and Response market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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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Regional Landscape section of the Managed Detection and Response report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- 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)
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Managed Detection and Response market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Managed Detection and Response with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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