Managed Detection and Response (MDR) Market

Managed Detection and Response (MDR) Market Size, Share, Growth Analysis, By Security Type:(Endpoint Security, Network Security), By Deployment Mode:(On-Premises, Cloud), By Organization Size:(SMEs, Large Enterprise), By Vertical(BFSI, IT and ITeS), By Region:(North America, Europe) - Industry Forecast 2024-2031

Report ID: UCMIG45B2079 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Managed Detection and Response (MDR) Market Insights

Market Overview:

The size of the global MDR market is anticipated to increase by USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% throughout the forecast period, from USD 3.3 billion in 2023. The market for MDR is driven by important variables that are determining its growth trajectory. These include the rise of ransomware, crypto-jacking, and business email compromise threats, all of which call for reliable MDR solutions for effective security.

Managed Detection and Response (MDR) Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
ForecastGrowthRate
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the IT Consulting & Other Services by segment aggregation, the contribution of the IT Consulting & Other Services in Software & Services and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

Segmentation Analysis:

The Managed Detection and Response (MDR) Market is segmented by Security Type:, Deployment Mode:, Organization Size:, Vertical, Region:. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.

Managed Detection and Response (MDR) Market Basis Point Share Analysis, 2021 Vs. 2028
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  • Based on Security Type: the market is segmented as, Endpoint Security, Network Security, Cloud Security, Other Security Types (Application security and Database security)
  • Based on Deployment Mode: the market is segmented as, On-Premises, Cloud
  • Based on Organization Size: the market is segmented as, SMEs, Large Enterprise
  • Based on Vertical the market is segmented as, BFSI, IT and ITeS, Government and Defense, Energy and Utilities, Manufacturing, Healthcare, Retail and eCommerce, Other Verticals (Media and Entertainment, Transport and Logistics, and Education)
  • Based on Region: the market is segmented as, North America, Europe, Asia Pacific, Middle East & Africa, Latin America, KEY MARKET PLAYERS, CrowdStrike, Rapid7, Red Canary, Arctic Wolf, Kudelski Security, SentinelOne, Proficio, Expel, Secureworks, Alert Logic, Trustwave, Mandiant, Binary Defense, Sophos, eSentire, Deepwatch, Netsurion, GoSecure, LMNTRIX, UnderDefense, Ackcent, Cybereason, Critical Start, Cysiv

Regional Analysis:

Managed Detection and Response (MDR) Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.

Managed Detection and Response (MDR) Market Attractiveness Analysis, By Region 2020-2028
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Managed Detection and Response (MDR) Market : Risk Analysis

SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Managed Detection and Response (MDR) Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Managed Detection and Response (MDR) Market's supply chain, distribution, and total revenue growth.

Competitive landscaping:

To understand the competitive landscape, we are analyzing key Managed Detection and Response (MDR) Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Managed Detection and Response (MDR) Market.

To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.

Key Players Covered in the Report:

  • MDR market size is projected to grow from USD 3.3 billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. The expansion of the MDR market can be attributed to a range of influential factors including the rise in business email compromise, ransomware, and crypto-jacking incidents, as well as the urgent need to bridge the gap in cybersecurity skills and manage the overwhelming volume of security alerts. Additionally, government regulations and compliance requirements have played a crucial role in driving the adoption of MDR services. Furthermore, the widespread proliferation of technology and the increasing penetration of IoT devices have further contributed to the growth of the MDR market.
  • Moreover, the MDR market is experiencing growth due to the introduction of AI/ML-powered services, increasing adoption by SMEs, and scalability benefits. These factors contribute to the market's promising growth potential, providing enhanced threat detection and response capabilities and proactive security measures for organizations. Thus, driving the demand for MDR products in the near future.
  • COVID-19 Impact
  • The COVID-19 pandemic has had a significant impact on the MDR market. With the sudden shift to remote work and increased reliance on digital infrastructure, the threat landscape has expanded, leading to a surge in cyberattacks. With the surge in attacks, organizations have become more vulnerable to phishing attempts, ransomware attacks, and other sophisticated threats. As a result, the demand for MDR services has increased as businesses seek to enhance their security posture and protect their sensitive data. Additionally, the MDR providers have been instrumental in helping organizations detect, respond to, and mitigate these evolving threats in real-time. Also, the pandemic has highlighted the critical importance of robust cybersecurity measures, driving the adoption of MDR services across industries.
  • Managed Detection and Response
  • Driver: Addressing a gap in cybersecurity skills and overwhelming alert volumes
  • MDR addresses the problem of the cybersecurity skills gap within organizations, offering a solution to the shortage of skilled personnel in the field. Additionally, it helps organizations cope with the overwhelming volume of security alerts and the need to correlate and identify potential threats. MDR services provide access to advanced threat detection and response capabilities at a cost lower than building an in-house specialized security team. This cost-effective approach allows organizations to focus on their core business functions while leaving their cybersecurity needs in the hands of experienced MDR service providers.
  • Restraint: False positives hinder the effectiveness of MDR services
  • MDR services can be hindered by the presence of false positives, which can create limitations for businesses. False positives occur when an event is flagged as a security threat by the MDR service provider, but it turns out to be a false alarm. Factors such as improper configuration of detection algorithms, outdated threat intelligence, or lack of context for specific events can contribute to this issue. False positives can have negative implications for organizations, including wasted time and resources spent investigating non-existent threats, alert fatigue, and a decrease in confidence in the reliability and accuracy of the MDR service provider.
  • Opportunity: Introduction of ML/AI-powered MDR services
  • In the current dynamic enterprise IT environment, the frequency and complexity of cyberattacks continue to escalate. Traditional MSSPs are facing challenges in adapting to these evolving conditions and effectively countering new and intricate attacks. To address this, advanced next-generation cybersecurity services have emerged, integrating cutting-edge technologies such as ML and behavioral analytics. These services provide proactive threat protection by leveraging real-time contextual awareness, intelligent automation, and swift response capabilities. By deploying AI, ML, and pattern recognition, vendors can automatically update security rules, safeguarding an organization's critical information across networks, endpoints, and applications from advanced threats and vulnerabilities.
  • Challenge: Potential cyberattacks on MDR service provider's infrastructure
  • Large enterprises face distinct challenges that set them apart from smaller businesses, such as diverse customer bases, extensive product offerings, and complex internal structures. Safeguarding and managing data to deliver robust security services becomes a critical undertaking for key players in the MDR market. Recognizing these unique demands, MDR and security service providers dedicate resources to ensure information security, swift incident response, and efficient recovery. Adopting a unified approach to security management, these vendors offer comprehensive solutions that cater to the evolving needs of growth-oriented enterprises, safeguarding their IT infrastructure from cyber threats like viruses and malware.
  • By vertical, the IT and ITeS segment is to grow at the highest CAGR during the forecast period
  • The industry's continuous growth and reliance on technology contribute to an increased vulnerability to cyber threats, necessitating robust cybersecurity measures like MDR. With the growing adoption of cloud computing, IoT, and digital transformation, IT and ITeS organizations face evolving and sophisticated attacks, prompting them to invest in comprehensive MDR services. Furthermore, the need to comply with stringent data protection regulations and safeguard sensitive customer information further drives the demand for MDR solutions in the IT and ITeS segment. As a result, the IT and ITeS industry experiences significant growth in the MDR market, emphasizing the importance of effective cybersecurity practices in protecting valuable assets and ensuring business continuity.
  • By region, North America accounts for the highest market size during the forecast period
  • North America accounts for the highest market size due to several key factors. The region has witnessed a surge in cyberattacks, particularly in the US and Canada, which has heightened the demand for robust security solutions like MDR. Additionally, the issuance of security patches by companies like Apple in response to zero-day vulnerabilities has emphasized the need for proactive threat detection and response. Furthermore, the warning from the US Federal Trade Commission about sextortion schemes targeting the LGBTQ+ community on online dating apps has raised awareness about online threats and increased the importance of cybersecurity. Also, the Biden administration's announcement of sanctions on crypto exchanges involved in ransomware activities has underscored the need for effective detection and response capabilities, further driving the adoption of MDR services in North America.
  • Recent Developments
  • In April 2023, CrowdStrike (US) launched Falcon Insight for IoT solution that provides endpoint detection and response (EDR) and extended detection and response (XDR) capabilities for XIoT assets, IT endpoints, cloud workloads, identities, and data on a single platform. Organizations can use it to identify ransomware, malware, and other threats across their devices and systems, leverage AI-based threat prevention, and receive custom security policy recommendations for their XIoT assets.
  • In March 2023, Rapid7 (US) acquired Minerva Labs, Ltd., a leading anti-evasion and ransomware prevention technology provider to further extend Rapid7's MDR capabilities with the ability to orchestrate advanced ransomware prevention.
  • In January 2022, Red Canary (US) collaborated with Microsoft (US). The company integrated with Microsoft Sentinel and Microsoft Defender for Cloud, enabling it to detect attacks early and stop them more quickly for Microsoft clients. This increased integration will effectively defend against identity-based attacks, enhance cloud security coverage, and operationalize Microsoft's security capabilities.
  • In December 2022, Kudelski Security (Switzerland) unveiled a new tool named Threat Navigator, a part of its MDR services. This tool enables clients to visualize and understand their current security coverage, receive automated recommendations to improve detection capabilities and gain a deeper understanding of what data and security tooling is required to mitigate risks
  • In May 2022, Arctic Wolf (US) launched Arctic Wolf Labs, a new research-focused division focused on advancing innovation in the field of security operations. The mission of Arctic Wolf Labs is to develop cutting-edge technology and tools that are designed to enhance the company’s core mission to end cyber risk, while also bringing comprehensive security intelligence to Arctic Wolf’s customer base and the security community at large.
  • KEY MARKET SEGMENTS
  • By Security Type:
  • Endpoint Security
  • Network Security
  • Cloud Security
  • Other Security Types (Application security and Database security)
  • By Deployment Mode:
  • On-Premises
  • Cloud
  • By Organization Size:
  • SMEs
  • Large Enterprise
  • By Vertical
  • BFSI
  • IT and ITeS
  • Government and Defense
  • Energy and Utilities
  • Manufacturing
  • Healthcare
  • Retail and eCommerce
  • Other Verticals (Media and Entertainment, Transport and Logistics, and Education)
  • By Region:
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America
  • KEY MARKET PLAYERS
  • CrowdStrike
  • Rapid7
  • Red Canary
  • Arctic Wolf
  • Kudelski Security
  • SentinelOne
  • Proficio
  • Expel
  • Secureworks
  • Alert Logic
  • Trustwave
  • Mandiant
  • Binary Defense
  • Sophos
  • eSentire
  • Deepwatch
  • Netsurion
  • GoSecure
  • LMNTRIX
  • UnderDefense
  • Ackcent
  • Cybereason
  • Critical Start
  • Cysiv
  • Critical Insight

SkyQuest's Expertise:

The Managed Detection and Response (MDR) Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.

Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.

Scope Of Report

Report Attribute Details
The base year for estimation 2021
Historical data 2016 – 2022
Forecast period 2022 – 2028
Report coverage Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis
Segments covered
  • By Security Type: - Endpoint Security, Network Security, Cloud Security, Other Security Types (Application security and Database security)
  • By Deployment Mode: - On-Premises, Cloud
  • By Organization Size: - SMEs, Large Enterprise
  • By Vertical - BFSI, IT and ITeS, Government and Defense, Energy and Utilities, Manufacturing, Healthcare, Retail and eCommerce, Other Verticals (Media and Entertainment, Transport and Logistics, and Education)
  • By Region: - North America, Europe, Asia Pacific, Middle East & Africa, Latin America, KEY MARKET PLAYERS, CrowdStrike, Rapid7, Red Canary, Arctic Wolf, Kudelski Security, SentinelOne, Proficio, Expel, Secureworks, Alert Logic, Trustwave, Mandiant, Binary Defense, Sophos, eSentire, Deepwatch, Netsurion, GoSecure, LMNTRIX, UnderDefense, Ackcent, Cybereason, Critical Start, Cysiv
Regional scope North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
Country scope U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa
Key companies profiled
  • MDR market size is projected to grow from USD 3.3 billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. The expansion of the MDR market can be attributed to a range of influential factors including the rise in business email compromise, ransomware, and crypto-jacking incidents, as well as the urgent need to bridge the gap in cybersecurity skills and manage the overwhelming volume of security alerts. Additionally, government regulations and compliance requirements have played a crucial role in driving the adoption of MDR services. Furthermore, the widespread proliferation of technology and the increasing penetration of IoT devices have further contributed to the growth of the MDR market.
  • Moreover, the MDR market is experiencing growth due to the introduction of AI/ML-powered services, increasing adoption by SMEs, and scalability benefits. These factors contribute to the market's promising growth potential, providing enhanced threat detection and response capabilities and proactive security measures for organizations. Thus, driving the demand for MDR products in the near future.
  • COVID-19 Impact
  • The COVID-19 pandemic has had a significant impact on the MDR market. With the sudden shift to remote work and increased reliance on digital infrastructure, the threat landscape has expanded, leading to a surge in cyberattacks. With the surge in attacks, organizations have become more vulnerable to phishing attempts, ransomware attacks, and other sophisticated threats. As a result, the demand for MDR services has increased as businesses seek to enhance their security posture and protect their sensitive data. Additionally, the MDR providers have been instrumental in helping organizations detect, respond to, and mitigate these evolving threats in real-time. Also, the pandemic has highlighted the critical importance of robust cybersecurity measures, driving the adoption of MDR services across industries.
  • Managed Detection and Response
  • Driver: Addressing a gap in cybersecurity skills and overwhelming alert volumes
  • MDR addresses the problem of the cybersecurity skills gap within organizations, offering a solution to the shortage of skilled personnel in the field. Additionally, it helps organizations cope with the overwhelming volume of security alerts and the need to correlate and identify potential threats. MDR services provide access to advanced threat detection and response capabilities at a cost lower than building an in-house specialized security team. This cost-effective approach allows organizations to focus on their core business functions while leaving their cybersecurity needs in the hands of experienced MDR service providers.
  • Restraint: False positives hinder the effectiveness of MDR services
  • MDR services can be hindered by the presence of false positives, which can create limitations for businesses. False positives occur when an event is flagged as a security threat by the MDR service provider, but it turns out to be a false alarm. Factors such as improper configuration of detection algorithms, outdated threat intelligence, or lack of context for specific events can contribute to this issue. False positives can have negative implications for organizations, including wasted time and resources spent investigating non-existent threats, alert fatigue, and a decrease in confidence in the reliability and accuracy of the MDR service provider.
  • Opportunity: Introduction of ML/AI-powered MDR services
  • In the current dynamic enterprise IT environment, the frequency and complexity of cyberattacks continue to escalate. Traditional MSSPs are facing challenges in adapting to these evolving conditions and effectively countering new and intricate attacks. To address this, advanced next-generation cybersecurity services have emerged, integrating cutting-edge technologies such as ML and behavioral analytics. These services provide proactive threat protection by leveraging real-time contextual awareness, intelligent automation, and swift response capabilities. By deploying AI, ML, and pattern recognition, vendors can automatically update security rules, safeguarding an organization's critical information across networks, endpoints, and applications from advanced threats and vulnerabilities.
  • Challenge: Potential cyberattacks on MDR service provider's infrastructure
  • Large enterprises face distinct challenges that set them apart from smaller businesses, such as diverse customer bases, extensive product offerings, and complex internal structures. Safeguarding and managing data to deliver robust security services becomes a critical undertaking for key players in the MDR market. Recognizing these unique demands, MDR and security service providers dedicate resources to ensure information security, swift incident response, and efficient recovery. Adopting a unified approach to security management, these vendors offer comprehensive solutions that cater to the evolving needs of growth-oriented enterprises, safeguarding their IT infrastructure from cyber threats like viruses and malware.
  • By vertical, the IT and ITeS segment is to grow at the highest CAGR during the forecast period
  • The industry's continuous growth and reliance on technology contribute to an increased vulnerability to cyber threats, necessitating robust cybersecurity measures like MDR. With the growing adoption of cloud computing, IoT, and digital transformation, IT and ITeS organizations face evolving and sophisticated attacks, prompting them to invest in comprehensive MDR services. Furthermore, the need to comply with stringent data protection regulations and safeguard sensitive customer information further drives the demand for MDR solutions in the IT and ITeS segment. As a result, the IT and ITeS industry experiences significant growth in the MDR market, emphasizing the importance of effective cybersecurity practices in protecting valuable assets and ensuring business continuity.
  • By region, North America accounts for the highest market size during the forecast period
  • North America accounts for the highest market size due to several key factors. The region has witnessed a surge in cyberattacks, particularly in the US and Canada, which has heightened the demand for robust security solutions like MDR. Additionally, the issuance of security patches by companies like Apple in response to zero-day vulnerabilities has emphasized the need for proactive threat detection and response. Furthermore, the warning from the US Federal Trade Commission about sextortion schemes targeting the LGBTQ+ community on online dating apps has raised awareness about online threats and increased the importance of cybersecurity. Also, the Biden administration's announcement of sanctions on crypto exchanges involved in ransomware activities has underscored the need for effective detection and response capabilities, further driving the adoption of MDR services in North America.
  • Recent Developments
  • In April 2023, CrowdStrike (US) launched Falcon Insight for IoT solution that provides endpoint detection and response (EDR) and extended detection and response (XDR) capabilities for XIoT assets, IT endpoints, cloud workloads, identities, and data on a single platform. Organizations can use it to identify ransomware, malware, and other threats across their devices and systems, leverage AI-based threat prevention, and receive custom security policy recommendations for their XIoT assets.
  • In March 2023, Rapid7 (US) acquired Minerva Labs, Ltd., a leading anti-evasion and ransomware prevention technology provider to further extend Rapid7's MDR capabilities with the ability to orchestrate advanced ransomware prevention.
  • In January 2022, Red Canary (US) collaborated with Microsoft (US). The company integrated with Microsoft Sentinel and Microsoft Defender for Cloud, enabling it to detect attacks early and stop them more quickly for Microsoft clients. This increased integration will effectively defend against identity-based attacks, enhance cloud security coverage, and operationalize Microsoft's security capabilities.
  • In December 2022, Kudelski Security (Switzerland) unveiled a new tool named Threat Navigator, a part of its MDR services. This tool enables clients to visualize and understand their current security coverage, receive automated recommendations to improve detection capabilities and gain a deeper understanding of what data and security tooling is required to mitigate risks
  • In May 2022, Arctic Wolf (US) launched Arctic Wolf Labs, a new research-focused division focused on advancing innovation in the field of security operations. The mission of Arctic Wolf Labs is to develop cutting-edge technology and tools that are designed to enhance the company’s core mission to end cyber risk, while also bringing comprehensive security intelligence to Arctic Wolf’s customer base and the security community at large.
  • KEY MARKET SEGMENTS
  • By Security Type:
  • Endpoint Security
  • Network Security
  • Cloud Security
  • Other Security Types (Application security and Database security)
  • By Deployment Mode:
  • On-Premises
  • Cloud
  • By Organization Size:
  • SMEs
  • Large Enterprise
  • By Vertical
  • BFSI
  • IT and ITeS
  • Government and Defense
  • Energy and Utilities
  • Manufacturing
  • Healthcare
  • Retail and eCommerce
  • Other Verticals (Media and Entertainment, Transport and Logistics, and Education)
  • By Region:
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America
  • KEY MARKET PLAYERS
  • CrowdStrike
  • Rapid7
  • Red Canary
  • Arctic Wolf
  • Kudelski Security
  • SentinelOne
  • Proficio
  • Expel
  • Secureworks
  • Alert Logic
  • Trustwave
  • Mandiant
  • Binary Defense
  • Sophos
  • eSentire
  • Deepwatch
  • Netsurion
  • GoSecure
  • LMNTRIX
  • UnderDefense
  • Ackcent
  • Cybereason
  • Critical Start
  • Cysiv
  • Critical Insight
Customization scope Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options Reap the benefits of customized purchase options to fit your specific research requirements.

Objectives of the Study

  • To forecast the market size, in terms of value, for various segments with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA)
  • To provide detailed information regarding the major factors influencing the growth of the Market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the micro markets with respect to the individual growth trends, future prospects, and contribution to the total market
  • To provide a detailed overview of the value chain and analyze market trends with the Porter's five forces analysis
  • To analyze the opportunities in the market for various stakeholders by identifying the high-growth Segments
  • To identify the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders
  • To analyze competitive development such as joint ventures, mergers and acquisitions, new product launches and development, and research and development in the market

What does this Report Deliver?

  • Market Estimation for 20+ Countries
  • Historical data coverage: 2016 to 2022
  • Growth projections: 2022 to 2028
  • SkyQuest's premium market insights: Innovation matrix, IP analysis, Production Analysis, Value chain analysis, Technological trends, and Trade analysis
  • Customization on Segments, Regions, and Company Profiles
  • 100+ tables, 150+ Figures, 10+ matrix
  • Global and Country Market Trends
  • Comprehensive Mapping of Industry Parameters
  • Attractive Investment Proposition
  • Competitive Strategies Adopted by Leading Market Participants
  • Market drivers, restraints, opportunities, and its impact on the market
  • Regulatory scenario, regional dynamics, and insights of leading countries in each region
  • Segment trends analysis, opportunity, and growth
  • Opportunity analysis by region and country
  • Porter's five force analysis to know the market's condition
  • Pricing analysis
  • Parent market analysis
  • Product portfolio benchmarking

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Managed Detection and Response (MDR) Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Managed Detection and Response (MDR) Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)
  • MDR market size is projected to grow from USD 3.3 billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. The expansion of the MDR market can be attributed to a range of influential factors including the rise in business email compromise, ransomware, and crypto-jacking incidents, as well as the urgent need to bridge the gap in cybersecurity skills and manage the overwhelming volume of security alerts. Additionally, government regulations and compliance requirements have played a crucial role in driving the adoption of MDR services. Furthermore, the widespread proliferation of technology and the increasing penetration of IoT devices have further contributed to the growth of the MDR market.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Moreover, the MDR market is experiencing growth due to the introduction of AI/ML-powered services, increasing adoption by SMEs, and scalability benefits. These factors contribute to the market's promising growth potential, providing enhanced threat detection and response capabilities and proactive security measures for organizations. Thus, driving the demand for MDR products in the near future.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • COVID-19 Impact
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The COVID-19 pandemic has had a significant impact on the MDR market. With the sudden shift to remote work and increased reliance on digital infrastructure, the threat landscape has expanded, leading to a surge in cyberattacks. With the surge in attacks, organizations have become more vulnerable to phishing attempts, ransomware attacks, and other sophisticated threats. As a result, the demand for MDR services has increased as businesses seek to enhance their security posture and protect their sensitive data. Additionally, the MDR providers have been instrumental in helping organizations detect, respond to, and mitigate these evolving threats in real-time. Also, the pandemic has highlighted the critical importance of robust cybersecurity measures, driving the adoption of MDR services across industries.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Managed Detection and Response
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Driver: Addressing a gap in cybersecurity skills and overwhelming alert volumes
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • MDR addresses the problem of the cybersecurity skills gap within organizations, offering a solution to the shortage of skilled personnel in the field. Additionally, it helps organizations cope with the overwhelming volume of security alerts and the need to correlate and identify potential threats. MDR services provide access to advanced threat detection and response capabilities at a cost lower than building an in-house specialized security team. This cost-effective approach allows organizations to focus on their core business functions while leaving their cybersecurity needs in the hands of experienced MDR service providers.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Restraint: False positives hinder the effectiveness of MDR services
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • MDR services can be hindered by the presence of false positives, which can create limitations for businesses. False positives occur when an event is flagged as a security threat by the MDR service provider, but it turns out to be a false alarm. Factors such as improper configuration of detection algorithms, outdated threat intelligence, or lack of context for specific events can contribute to this issue. False positives can have negative implications for organizations, including wasted time and resources spent investigating non-existent threats, alert fatigue, and a decrease in confidence in the reliability and accuracy of the MDR service provider.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Opportunity: Introduction of ML/AI-powered MDR services
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In the current dynamic enterprise IT environment, the frequency and complexity of cyberattacks continue to escalate. Traditional MSSPs are facing challenges in adapting to these evolving conditions and effectively countering new and intricate attacks. To address this, advanced next-generation cybersecurity services have emerged, integrating cutting-edge technologies such as ML and behavioral analytics. These services provide proactive threat protection by leveraging real-time contextual awareness, intelligent automation, and swift response capabilities. By deploying AI, ML, and pattern recognition, vendors can automatically update security rules, safeguarding an organization's critical information across networks, endpoints, and applications from advanced threats and vulnerabilities.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Challenge: Potential cyberattacks on MDR service provider's infrastructure
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Large enterprises face distinct challenges that set them apart from smaller businesses, such as diverse customer bases, extensive product offerings, and complex internal structures. Safeguarding and managing data to deliver robust security services becomes a critical undertaking for key players in the MDR market. Recognizing these unique demands, MDR and security service providers dedicate resources to ensure information security, swift incident response, and efficient recovery. Adopting a unified approach to security management, these vendors offer comprehensive solutions that cater to the evolving needs of growth-oriented enterprises, safeguarding their IT infrastructure from cyber threats like viruses and malware.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By vertical, the IT and ITeS segment is to grow at the highest CAGR during the forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • The industry's continuous growth and reliance on technology contribute to an increased vulnerability to cyber threats, necessitating robust cybersecurity measures like MDR. With the growing adoption of cloud computing, IoT, and digital transformation, IT and ITeS organizations face evolving and sophisticated attacks, prompting them to invest in comprehensive MDR services. Furthermore, the need to comply with stringent data protection regulations and safeguard sensitive customer information further drives the demand for MDR solutions in the IT and ITeS segment. As a result, the IT and ITeS industry experiences significant growth in the MDR market, emphasizing the importance of effective cybersecurity practices in protecting valuable assets and ensuring business continuity.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By region, North America accounts for the highest market size during the forecast period
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America accounts for the highest market size due to several key factors. The region has witnessed a surge in cyberattacks, particularly in the US and Canada, which has heightened the demand for robust security solutions like MDR. Additionally, the issuance of security patches by companies like Apple in response to zero-day vulnerabilities has emphasized the need for proactive threat detection and response. Furthermore, the warning from the US Federal Trade Commission about sextortion schemes targeting the LGBTQ+ community on online dating apps has raised awareness about online threats and increased the importance of cybersecurity. Also, the Biden administration's announcement of sanctions on crypto exchanges involved in ransomware activities has underscored the need for effective detection and response capabilities, further driving the adoption of MDR services in North America.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Recent Developments
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In April 2023, CrowdStrike (US) launched Falcon Insight for IoT solution that provides endpoint detection and response (EDR) and extended detection and response (XDR) capabilities for XIoT assets, IT endpoints, cloud workloads, identities, and data on a single platform. Organizations can use it to identify ransomware, malware, and other threats across their devices and systems, leverage AI-based threat prevention, and receive custom security policy recommendations for their XIoT assets.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In March 2023, Rapid7 (US) acquired Minerva Labs, Ltd., a leading anti-evasion and ransomware prevention technology provider to further extend Rapid7's MDR capabilities with the ability to orchestrate advanced ransomware prevention.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In January 2022, Red Canary (US) collaborated with Microsoft (US). The company integrated with Microsoft Sentinel and Microsoft Defender for Cloud, enabling it to detect attacks early and stop them more quickly for Microsoft clients. This increased integration will effectively defend against identity-based attacks, enhance cloud security coverage, and operationalize Microsoft's security capabilities.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In December 2022, Kudelski Security (Switzerland) unveiled a new tool named Threat Navigator, a part of its MDR services. This tool enables clients to visualize and understand their current security coverage, receive automated recommendations to improve detection capabilities and gain a deeper understanding of what data and security tooling is required to mitigate risks
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • In May 2022, Arctic Wolf (US) launched Arctic Wolf Labs, a new research-focused division focused on advancing innovation in the field of security operations. The mission of Arctic Wolf Labs is to develop cutting-edge technology and tools that are designed to enhance the company’s core mission to end cyber risk, while also bringing comprehensive security intelligence to Arctic Wolf’s customer base and the security community at large.
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET SEGMENTS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Security Type:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Endpoint Security
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Network Security
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Cloud Security
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Other Security Types (Application security and Database security)
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Deployment Mode:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • On-Premises
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Cloud
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Organization Size:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • SMEs
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Large Enterprise
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Vertical
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • BFSI
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • IT and ITeS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Government and Defense
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Energy and Utilities
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Manufacturing
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Healthcare
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Retail and eCommerce
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Other Verticals (Media and Entertainment, Transport and Logistics, and Education)
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • By Region:
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • North America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Europe
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Asia Pacific
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Middle East & Africa
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Latin America
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • KEY MARKET PLAYERS
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • CrowdStrike
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Rapid7
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Red Canary
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Arctic Wolf
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Kudelski Security
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • SentinelOne
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Proficio
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Expel
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Secureworks
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Alert Logic
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Trustwave
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Mandiant
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Binary Defense
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Sophos
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • eSentire
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Deepwatch
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Netsurion
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • GoSecure
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • LMNTRIX
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • UnderDefense
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Ackcent
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Cybereason
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Critical Start
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Cysiv
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments
  • Critical Insight
    • Exhibit Company Overview
    • Exhibit Business Segment Overview
    • Exhibit Financial Updates
    • Exhibit Key Developments

Methodology

For the Managed Detection and Response (MDR) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Managed Detection and Response (MDR) Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Managed Detection and Response (MDR) Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Managed Detection and Response (MDR) Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

The global market for Managed Detection and Response (MDR) was estimated to be valued at US$ XX Mn in 2021.

The global Managed Detection and Response (MDR) Market is estimated to grow at a CAGR of XX% by 2028.

The global Managed Detection and Response (MDR) Market is segmented on the basis of Security Type:, Deployment Mode:, Organization Size:, Vertical, Region:.

Based on region, the global Managed Detection and Response (MDR) Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the global Managed Detection and Response (MDR) Market are MDR market size is projected to grow from USD 3.3 billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. The expansion of the MDR market can be attributed to a range of influential factors including the rise in business email compromise, ransomware, and crypto-jacking incidents, as well as the urgent need to bridge the gap in cybersecurity skills and manage the overwhelming volume of security alerts. Additionally, government regulations and compliance requirements have played a crucial role in driving the adoption of MDR services. Furthermore, the widespread proliferation of technology and the increasing penetration of IoT devices have further contributed to the growth of the MDR market. , Moreover, the MDR market is experiencing growth due to the introduction of AI/ML-powered services, increasing adoption by SMEs, and scalability benefits. These factors contribute to the market's promising growth potential, providing enhanced threat detection and response capabilities and proactive security measures for organizations. Thus, driving the demand for MDR products in the near future. , COVID-19 Impact , The COVID-19 pandemic has had a significant impact on the MDR market. With the sudden shift to remote work and increased reliance on digital infrastructure, the threat landscape has expanded, leading to a surge in cyberattacks. With the surge in attacks, organizations have become more vulnerable to phishing attempts, ransomware attacks, and other sophisticated threats. As a result, the demand for MDR services has increased as businesses seek to enhance their security posture and protect their sensitive data. Additionally, the MDR providers have been instrumental in helping organizations detect, respond to, and mitigate these evolving threats in real-time. Also, the pandemic has highlighted the critical importance of robust cybersecurity measures, driving the adoption of MDR services across industries. , Managed Detection and Response , Driver: Addressing a gap in cybersecurity skills and overwhelming alert volumes , MDR addresses the problem of the cybersecurity skills gap within organizations, offering a solution to the shortage of skilled personnel in the field. Additionally, it helps organizations cope with the overwhelming volume of security alerts and the need to correlate and identify potential threats. MDR services provide access to advanced threat detection and response capabilities at a cost lower than building an in-house specialized security team. This cost-effective approach allows organizations to focus on their core business functions while leaving their cybersecurity needs in the hands of experienced MDR service providers. , Restraint: False positives hinder the effectiveness of MDR services , MDR services can be hindered by the presence of false positives, which can create limitations for businesses. False positives occur when an event is flagged as a security threat by the MDR service provider, but it turns out to be a false alarm. Factors such as improper configuration of detection algorithms, outdated threat intelligence, or lack of context for specific events can contribute to this issue. False positives can have negative implications for organizations, including wasted time and resources spent investigating non-existent threats, alert fatigue, and a decrease in confidence in the reliability and accuracy of the MDR service provider. , Opportunity: Introduction of ML/AI-powered MDR services , In the current dynamic enterprise IT environment, the frequency and complexity of cyberattacks continue to escalate. Traditional MSSPs are facing challenges in adapting to these evolving conditions and effectively countering new and intricate attacks. To address this, advanced next-generation cybersecurity services have emerged, integrating cutting-edge technologies such as ML and behavioral analytics. These services provide proactive threat protection by leveraging real-time contextual awareness, intelligent automation, and swift response capabilities. By deploying AI, ML, and pattern recognition, vendors can automatically update security rules, safeguarding an organization's critical information across networks, endpoints, and applications from advanced threats and vulnerabilities. , Challenge: Potential cyberattacks on MDR service provider's infrastructure , Large enterprises face distinct challenges that set them apart from smaller businesses, such as diverse customer bases, extensive product offerings, and complex internal structures. Safeguarding and managing data to deliver robust security services becomes a critical undertaking for key players in the MDR market. Recognizing these unique demands, MDR and security service providers dedicate resources to ensure information security, swift incident response, and efficient recovery. Adopting a unified approach to security management, these vendors offer comprehensive solutions that cater to the evolving needs of growth-oriented enterprises, safeguarding their IT infrastructure from cyber threats like viruses and malware. , By vertical, the IT and ITeS segment is to grow at the highest CAGR during the forecast period , The industry's continuous growth and reliance on technology contribute to an increased vulnerability to cyber threats, necessitating robust cybersecurity measures like MDR. With the growing adoption of cloud computing, IoT, and digital transformation, IT and ITeS organizations face evolving and sophisticated attacks, prompting them to invest in comprehensive MDR services. Furthermore, the need to comply with stringent data protection regulations and safeguard sensitive customer information further drives the demand for MDR solutions in the IT and ITeS segment. As a result, the IT and ITeS industry experiences significant growth in the MDR market, emphasizing the importance of effective cybersecurity practices in protecting valuable assets and ensuring business continuity. , By region, North America accounts for the highest market size during the forecast period , North America accounts for the highest market size due to several key factors. The region has witnessed a surge in cyberattacks, particularly in the US and Canada, which has heightened the demand for robust security solutions like MDR. Additionally, the issuance of security patches by companies like Apple in response to zero-day vulnerabilities has emphasized the need for proactive threat detection and response. Furthermore, the warning from the US Federal Trade Commission about sextortion schemes targeting the LGBTQ+ community on online dating apps has raised awareness about online threats and increased the importance of cybersecurity. Also, the Biden administration's announcement of sanctions on crypto exchanges involved in ransomware activities has underscored the need for effective detection and response capabilities, further driving the adoption of MDR services in North America. , Recent Developments , In April 2023, CrowdStrike (US) launched Falcon Insight for IoT solution that provides endpoint detection and response (EDR) and extended detection and response (XDR) capabilities for XIoT assets, IT endpoints, cloud workloads, identities, and data on a single platform. Organizations can use it to identify ransomware, malware, and other threats across their devices and systems, leverage AI-based threat prevention, and receive custom security policy recommendations for their XIoT assets. , In March 2023, Rapid7 (US) acquired Minerva Labs, Ltd., a leading anti-evasion and ransomware prevention technology provider to further extend Rapid7's MDR capabilities with the ability to orchestrate advanced ransomware prevention. , In January 2022, Red Canary (US) collaborated with Microsoft (US). The company integrated with Microsoft Sentinel and Microsoft Defender for Cloud, enabling it to detect attacks early and stop them more quickly for Microsoft clients. This increased integration will effectively defend against identity-based attacks, enhance cloud security coverage, and operationalize Microsoft's security capabilities. , In December 2022, Kudelski Security (Switzerland) unveiled a new tool named Threat Navigator, a part of its MDR services. This tool enables clients to visualize and understand their current security coverage, receive automated recommendations to improve detection capabilities and gain a deeper understanding of what data and security tooling is required to mitigate risks , In May 2022, Arctic Wolf (US) launched Arctic Wolf Labs, a new research-focused division focused on advancing innovation in the field of security operations. The mission of Arctic Wolf Labs is to develop cutting-edge technology and tools that are designed to enhance the company’s core mission to end cyber risk, while also bringing comprehensive security intelligence to Arctic Wolf’s customer base and the security community at large. , KEY MARKET SEGMENTS, By Security Type: , Endpoint Security , Network Security , Cloud Security , Other Security Types (Application security and Database security) , By Deployment Mode: , On-Premises , Cloud , By Organization Size: , SMEs , Large Enterprise , By Vertical , BFSI , IT and ITeS , Government and Defense , Energy and Utilities , Manufacturing , Healthcare , Retail and eCommerce , Other Verticals (Media and Entertainment, Transport and Logistics, and Education) , By Region: , North America , Europe , Asia Pacific , Middle East & Africa , Latin America , KEY MARKET PLAYERS , CrowdStrike , Rapid7 , Red Canary , Arctic Wolf , Kudelski Security , SentinelOne , Proficio , Expel , Secureworks , Alert Logic , Trustwave , Mandiant , Binary Defense , Sophos , eSentire , Deepwatch , Netsurion , GoSecure , LMNTRIX , UnderDefense , Ackcent , Cybereason , Critical Start , Cysiv , Critical Insight.

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