Global Managed Detection and Response Market Forecast to 2030

The global Managed Detection and Response (MDR) market size reached USD 4.9 billion in 2021 and is expected to register a revenue CAGR of 18.1% during the forecast period, according to the latest analysis by Emergen Research. Increased rates of cyberattacks in the banking, financial services, and insurance (BFSI) sector are the key factor driving revenue growth in the market.

With the reader's comprehension in mind, the team of analysts at Emergen Research painstakingly put up the new study named "Global Managed Detection and Response Market." A sizable database on industry distribution is also included. The study takes into account both historical and current market conditions in order to forecast the worldwide Managed Detection and Response market outlook during the forecast period (2022–2030). Researchers who thoroughly examined the global market were able to identify the factors affecting the industry's overall growth. Strong analytical techniques, such as SWOT analysis and Porter's Five Forces, are used in the research to assess the strengths, weaknesses, opportunities, and threats connected to the growth of different market segments.

Cyberattacks are increasing in both volume and sophistication, and any business, large or small, is considered vulnerable. While anti-virus software is regarded as a valuable investment, it is far from sufficient to prevent all (or even most) forms of attack. To secure its digital assets and resources, every company needs layers of security measures, which are occasionally insufficient. In reality, while preventative measures are necessary, detection and reaction skills are also required in today's computer world. There is no single solution for stopping all cyberattacks; therefore, companies must be prepared to notice the existence of an attacker on their systems and respond to the danger to reduce it.

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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 Segmentations of the Managed Detection and Response Market

This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2022 and 2030. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Managed Detection and Response market on the basis of product, application, and region:

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)

Key reasons to buy the Global Managed Detection and Response Market report:

  1. The latest report comprehensively studies the global Managed Detection and Response market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
  2. The report offers an insightful analysis of the regional outlook of the market.
  3. It offers a detailed account of the end-use applications of the products services offered by this industry.
  4. The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.

In conclusion, the Managed Detection and Response Market report is an exhaustive database that will help readers formulate lucrative strategies. The Managed Detection and Response Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.

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