The global managed detection and response (MDR) market size is expected to reach USD 11,209.59 million by 2032, according to a new study by Polaris Market Research. The report “Managed Detection and Response (MDR) Market Share, Size, Trends, Industry Analysis Report, By Security (Endpoint Security, Network Security, Cloud Security); By Deployment; By Organization Size; By Industry Vertical; By Region, And Segment Forecasts, 2023-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising demand for threat detection and response services among organizations is expected to drive significant growth in the Managed Detection and Response (MDR) market in the coming years. MDR solutions offer real-time threat detection, investigation, and remediation capabilities, enabling organizations to respond promptly to potential security incidents and reduce the impact of cyber-attacks.
The MDR market is experiencing growth owing to the surge in cyber threats like ransomware, malware, and phishing attacks. The market is further driven by the shortage of skilled cybersecurity professionals, resulting in the need for MDR services' advanced threat detection and response capabilities.
The Managed Detection and Response (MDR) market is driven by factors such as the shortage of skilled cybersecurity professionals, budget constraints, government regulations, and the need for compliance across various segments. However, the market growth may be hindered by factors such as a lack of trust in third-party applications and outdated IT infrastructure.
The COVID-19 pandemic in 2020 has increased demand for MDR solutions to combat various cyber threats and attacks among enterprises. Additionally, the pandemic has significantly increased digital modification across Financial Services, Banking, and Insurance (BFSI) sectors, government, healthcare, and IT. Adopting remote work trends has increased web and cloud traffic, further contributing to the booming market for MDR solutions and services across these sectors.
In 2021, the number of data compromises in the U.S. increased by 68% over 2020, according to The Insurance Information Institute (III). As the rate of cyber threats continues to rise, enterprises can benefit from managed detection and response solutions, which provide cyber security threat detection and response without the need for deploying cybersecurity architects or professionals. Managed detection and response services use a combination of Artificial Intelligence (AI) systems and sophisticated algorithms to run pattern recognition, detect malware, and identify the tiniest signs of ransomware or malware attacks before they can infiltrate the system.
The adoption of managed detection and response by numerous enterprises has enabled them to maintain a 24/7 operational advantage by effectively monitoring, detecting, and responding to potential threats. Managed detection and response solutions allow organizations to proactively identify and address threats, making it a suitable technology to mitigate current, emerging, and relevant threats. These factors are anticipated to propel revenue growth of the market.
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The rising demand for threat detection and response services among organizations is expected to drive significant growth in the Managed Detection and Response (MDR) market in the coming years. MDR solutions offer real-time threat detection, investigation, and remediation capabilities, enabling organizations to respond promptly to potential security incidents and reduce the impact of cyber-attacks.
The MDR market is experiencing growth owing to the surge in cyber threats like ransomware, malware, and phishing attacks. The market is further driven by the shortage of skilled cybersecurity professionals, resulting in the need for MDR services' advanced threat detection and response capabilities.
The Managed Detection and Response (MDR) market is driven by factors such as the shortage of skilled cybersecurity professionals, budget constraints, government regulations, and the need for compliance across various segments. However, the market growth may be hindered by factors such as a lack of trust in third-party applications and outdated IT infrastructure.
The COVID-19 pandemic in 2020 has increased demand for MDR solutions to combat various cyber threats and attacks among enterprises. Additionally, the pandemic has significantly increased digital modification across Financial Services, Banking, and Insurance (BFSI) sectors, government, healthcare, and IT. Adopting remote work trends has increased web and cloud traffic, further contributing to the booming market for MDR solutions and services across these sectors.
In 2021, the number of data compromises in the U.S. increased by 68% over 2020, according to The Insurance Information Institute (III). As the rate of cyber threats continues to rise, enterprises can benefit from managed detection and response solutions, which provide cyber security threat detection and response without the need for deploying cybersecurity architects or professionals. Managed detection and response services use a combination of Artificial Intelligence (AI) systems and sophisticated algorithms to run pattern recognition, detect malware, and identify the tiniest signs of ransomware or malware attacks before they can infiltrate the system.
The adoption of managed detection and response by numerous enterprises has enabled them to maintain a 24/7 operational advantage by effectively monitoring, detecting, and responding to potential threats. Managed detection and response solutions allow organizations to proactively identify and address threats, making it a suitable technology to mitigate current, emerging, and relevant threats. These factors are anticipated to propel revenue growth of the market.
Managed Detection and Response (MDR) Market Report Highlights
- In 2022, the small and medium enterprises (SMEs) segment held the highest CAGR in adopting Managed Detection and Response (MDR). SMEs' adoption and acceptance of MDR help expand their customer base and enhance business efficiency.
- In 2022, the cloud segment held the largest Managed Detection and Response (MDR) market share due to its advantages for businesses. It eliminates the need for on-premises hardware and reduces maintenance and customization expenses.
- North America held the largest MDR market share in 2022 due to being a major hub for adopting advanced and latest technologies, including endpoint solutions, and it was driven by favorable government policies.
- The Asia-Pacific Managed Detection and Response (MDR) market is expected to exhibit a moderate revenue growth rate during the forecast period due to several factors, such as rapid digitalization, lower technology adoption rates, and slower economic growth in some countries.
Polaris Market Research has segmented managed detection and response (MDR) market report based on security, deployment, organization size, industry vertical, and region:
Managed Detection and Response (MDR), Security Outlook (Revenue - USD Million, 2019-2032)
- Endpoint Security
- Network Security
- Cloud Security
Managed Detection and Response (MDR), Deployment Outlook (Revenue - USD Million, 2019-2032)
- Cloud
- On-Premises
Managed Detection and Response (MDR), Organization Size Outlook (Revenue - USD Million, 2019-2032)
- Small & Medium Enterprises
- Large Enterprises
Managed Detection and Response (MDR), Industry Vertical Outlook (Revenue - USD Million, 2019-2032)
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Government
- Others
Managed Detection and Response (MDR), Regional Outlook (Revenue - USD Million, 2019-2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
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