Managed Detection and Response (MDR) Market is expected to reach $2.2 billion by 2025 at a CAGR of 16.7% during the forecast period 2020-2025
Managed Detection and Response (MDR) Market is expected to reach $2.2 billion by 2025 at a CAGR of 16.7% during the forecast period 2020-2025. Increasing instances of cyber-attacks, shortage of cybersecurity practitioners, and need for compliance to various government regulations is driving the market. Moreover, technological advancement and increasing adoption of technologies such as Internet of Things (IoT) and enterprise mobility, across various industry verticals have increased the use of mobile devices to boost employee productivity and gain a substantial competitive edge in the industry. Moreover, the current usage of managed detection and response reduces the cyber security risks which gain visibility and a clear view of the threats which is growing individuals business in order to improve defenses. Several companies have been investing heavily for innovation in MDR services in the form of acquisition, partnership and so on. In 2020 Atos, has acquired Paladion, a US-based global provider of Managed Security Services, to strengthen its global cybersecurity services. Hence this kind of development is analyzed to drive the market in the forecast period 2020-2025.
Managed Detection and Response Market Report Coverage
The report: “Managed Detection and Response Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Managed Detection and Response market
By Security Type: Endpoint Security, Network Security, Application Security, Cloud Security, Others
By Deployment Model: On-Premises, Cloud
By Organization Size: Small & Medium-Sized Enterprises, Large Enterprises
By Industry Vertical: Banking, Financial Services, and Insurance, IT and Telecommunications, Government and Defense, Energy and Utilities, Manufacturing, Healthcare, Retail, Others
By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa)
Key Takeaways
- North America dominated the market by a market share of more than 34% in 2019, owing to increasing awareness regarding the need to protect the enterprise cyber infrastructure is being identified as the most critical factor driving the growth in the region.
- Cloud deployment is growing at a highest CAGR of 19.2% in the forecast period owing to its operational flexibility and real-time deployment ease to companies than on-premises deployment.
- SMEs in Managed Detection and Response Market is growing at a CAGR of 18.3% in the forecast period. Owing to the increasing instances of cyber-attacks and the deployment of advanced cybersecurity technologies after elimination of the traditional ones.
- Managed Detection and Response top 10 companies include Arctic Wolf Networks, Bae Systems, Crowdstrike, Esentire, Fireeye, F-Secure, IBM, Kudelski Security, Mnemonic, Networks Group, Optiv Security among others.
Managed Detection and Response Market Segment Analysis - By Deployment
Cloud deployment is growing at a highest CAGR of 19.2% in the forecast period owing to its operational flexibility and real-time deployment ease to companies than on-premises deployment. It also offers numerous benefits, including reduced operational costs, simple deployment process, and higher scalability in terms of connected resources. Additionally, the cost-effective cloud-based solutions ease installation when compared to the on-premises solutions. The highest level of data security and reliability offered by the cloud deployment are increasing the share of this deployment in the forecast period. Several companies are providing solutions related to this deployment. For instance, phoenixNAP implemented multiple security layers, including MDR, to design the world's safest Cloud computing platform. Hence these benefits are analyzed to drive the market growth in the forecast period 2020-2025.
