Extended Detection and Response Market worth USD 31.3 Billion, growing at a 39.20% CAGR by 2032 – Report by Market Research Future (MRFR)
Research Reports
Sep 29, 2023
Market Analysis:
According to a comprehensive research report by Market Research Future (MRFR), “Extended Detection and Response Market” Research Report: Information By Offering, By Deployment Mode, By Organization Size, By Vertical And By Region – Market Forecast Till 2032. The global extended detection & response market will touch USD 31.3 billion at 39.20% CAGR by 2032, as per the latest Market Research Future report.
Key Players:
Eminent industry players profiled in the extended detection & response market report include:
- Gen Bitdefender
- Broadcom
- Cybereason
- Cynet
- Fidelis Cybersecurity
- McAfee LLC
- Microsoft
- Palo Alto Networks
- Red Piranha Limited
- SentinelOne
- Sophos Ltd
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Market Segmentation:
The global extended detection & response market is bifurcated based on offering, deployment mode, organization size, and vertical.
By offering, solutions will lead the market over the forecast period with a 35.45% market share. Because XDR solutions offer all-inclusive security capabilities like endpoint protection, incident response, and threat detection, this segment grabs the utmost market share. With the incorporation of various security solutions in one platform, it successfully counters the rising sophistication of cyberattacks & streamline security operations as well.
By deployment mode, on-premises will dominate the market over the forecast period. Since these have absolute control of solutions and updates, enterprises with needed IT infrastructure choose to implement response systems and extended detection on their respective premises. The on-premises XDR system is preferred by numerous big organizations and businesses which handle sensitive corporate data as they offer the utmost data protection as well as physical access controls.
By organization size, large enterprises will spearhead the market over the forecast period for their extensive resources and funding. They make immense investments in cybersecurity along with setting aside a good amount for advanced technologies like XDR. Large enterprises can safeguard their sophisticated data and networks effectively when they possess the resources for hiring skilled experts and putting reliable infrastructure in place.
By vertical, BFSI will head the market over the forecast period. This sector is a target when it comes to cyberattacks for the volumes of sensitive customers and financial data they handle. Data breaches and financial fraud are serious concerns. The XDR technology aids to constantly monitor and defend threats to such priceless data.
Scope of the Report – Extended Detection and Response Market:
|
Report Metrics |
Details |
|
Market Size by 2032 |
USD 31.3 Billion |
|
CAGR during 2023-2032 |
39.20% |
|
Base Year |
2022 |
|
Forecast |
2023-2032 |
Market Drivers:
Growing Need for Real-Time Investigation and Monitoring to Boost Market Growth
The growing need for real-time investigation and monitoring of advanced threats are pushing enterprises in adopting security solutions which extend the capacities of detecting threats from endpoints to the multiple security control point like networks, the cloud, servers, and emails. This in turn is propelling the XDR tools’ adoption which enables telemetry and behavioral analysis across different security layers. This permits security analysts to visualize several threats. Thus, the growing need of XDR tools for real-time investigation and monitoring of advanced threats will boost market growth over the forecast period.
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Market Opportunities:
Increasing Adoption in Manufacturing Industry to offer Robust Opportunities
The increasing adoption of extended detection & response solutions in the manufacturing sector will offer robust opportunities for the market over the forecast period. This is owing to rising cyber threats in manufacturing systems along with subsequent requirement for cutting-edge cyber security solutions to protect intellectual property and sensitive data. Besides, the rapid technology adoption like cloud computing, industrial IoT, and automation across manufacturing spaces is also fuelling market growth.
Restraints and Challenges:
Lack of Awareness to act as Market Restraint
The lack of awareness about extended detection & response, deployment issues, and privacy & compliance issues may act as market restraints over the forecast period.
Browse In-depth Market Research Report (128 Pages, Charts, Tables, Figures) Extended Detection and Response Market– https://www.marketresearchfuture.com/reports/extended-detection-response-market-12210
COVID-19 Analysis:
The COVID-19 epidemic has impacted businesses drastically the world over. It has impacted the adoption of XDR positively for the increased cyber threats. Following the trend for work for home and remote working, the need for using XDR and managed security eventually increased. Companies today are laying emphasis on emerging technology like computing technology, automation, AI-powered solutions, & cloud-based endpoint detection & response across industries like government, healthcare and BFSI for performing contactless operation securely and safely. This factor fuels the need for XDR solutions, hence impacting market growth.
Regional Analysis:
North America to Command Extended Detection & Response Market
North America will command the extended detection & response market over the forecast period with a 45.80% market share. Cyber threat landscapes here, especially in the US are extremely advanced and dynamic. Several cyber-attacks, which also include those that are sponsored by financial fraud, ransomware campaigns, and states, frequently target the area. The need for advanced security solutions such as XDR is fuelled by the ongoing development of threats. The US market grabbed the utmost market share while that in Canada was the fastest growing.
APAC to Have Admirable Growth in Extended Detection & Response Market
The APAC region will have admirable growth in the market over the forecast period at a favorable CAGR. The use of mobile technologies, IoT, and cloud computing is on the rise and there is rapid digital transformation in the region. Such development in digital technology raises the attack surface, thus making XDR solutions crucial for protecting these changing environments. China grabbed the utmost market share for extended detection & response while India had been the fastest growing. This region is also abode to diverse economies & rapidly developing digital infrastructure as well as it experiences unique cyber-security challenges. Within this dynamic zone, the XDR solutions provide all-inclusive response, threat detection & remediation approach both across cloud environments, networks, and multiple endpoints. The countries in the APAC region are undergoing prompt digital transformation with surged adoption of IoT technologies, mobile devices, and cloud services. XDR solutions offer holistic visibility across such digital assets allowing enterprises in securing their growing attack surfaces.
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