The global Extended Detection And Response Market size is expected to reach USD 2.06 billion by 2028, expanding at a CAGR of 19.9% from 2021 to 2028, according to a study conducted by Grand View Research, Inc. The market benefits from the growing adoption of BYOD and enterprise mobility trends across organizations, the need to mitigate IT security risks, and the increasing number of enterprise-targeted cyber-attacks across the globe. Extended detection and response (XDR) solutions help security professionals to visualize cyber threat patterns holistically. Additionally, XDR tools help centralize and normalize data in a central repository to analyze data security incidents faster, giving organizations greater control over security to defend vulnerabilities.
Cyber threat risks and the challenges faced in securing critical data are intensifying with the increasing adoption of technologies such as IoT and cloud. Detecting, responding, and mitigating such threats across several control points is complex as organizations deploy numerous solutions that collectively generate a large number of alerts. This has increased the demand for a comprehensive solution that extends the capabilities of endpoint detection to the detection of incidents across several security control points. Unlike EDR solutions that remove only endpoint threats, XDR solutions offer a 360-degree view of the security environment.
The COVID-19 pandemic has led to the heightened need for XDR tools as organizations were required to implement remote working models. The abrupt transition allowed several cyber threat actors to target vulnerable endpoints and a spike in phishing, ransomware, and spam was observed across organizations. Recently, a joint alert was issued by the U.K. and the U.S. Federal cyber agencies declaring that the COVID-19 crisis is being exploited by cyber-attackers to compromise the endpoints used for remote work by employees. The National Cyber Security Centre (NCSC), Cybersecurity and Infrastructure Security Agency (CISA), and Department of Homeland Security (DHS) shared the observations concentrating on some of the latest incidents. The need to effectively detect and mitigate incidents across a dynamic security framework has led to the increased demand for unified detection and response solutions.
Related Press Release@ Extended Detection And Response Market Report
Extended Detection And Response Market Report Highlights
- In terms of component, the solutions segment dominated the market in 2020 and is expected to register significant growth over the forecast period. This can be attributed to the rising demand for comprehensive detection solutions across organizations of all sizes
- In terms of deployment type, the on-premises segment is expected to dominate the market over the forecast period. This can be attributed to the need for an optimum level of data security with security protocols and physical access controls across organizations
- The large enterprises segment dominated the market owing to the increased spending on security infrastructures and cloud technologies
- The North America regional market accounted for the largest market share in 2020. This can be attributed to the high investment of organizations in the region in security solutions
- The prominent participants in the market include McAfee, LLC; Trend Micro Incorporated; Microsoft; Palo Alto Network, Inc.; Cybereason; Broadcom; Cynet; and SentinelOne
