Managed Detection and Response (MDR) Market is expected to Reach USD 7,256.4 Million By 2028
The increasing penetration of IoT in the operation of different industries and the elevating number of cyber-attacks are some of the factors boosting the Managed Detection and Response (MDR) market.
Managed Detection and Response (MDR) Market Size – USD 974.9 Million in 2020, Market Growth – CAGR of 28.00%, Market Trends –The rising incorporation of MDR in SMEs.
The Global Managed Detection and Response (MDR) market is forecast to reach USD 7,256.4 Million by 2028, according to a new report by Reports and Data. MDR can be considered as an outsourced service that provides threat responding and identifying services to organizations, once any threat is discovered. Various factors are supporting the growth of the market. The fact that, in 2016, 2 million cybersecurity positions were unfilled, which is expected to increase to elevate to 3.5 million by 2021, clearly establishes the need for the right cybersecurity personnel in a large number of organizations. The fact mentioned above holds a major scope for expansion of the market. MDR addresses significant issues that adversely impact modern businesses. As an instance, cybersecurity is a major concern of every organization that can be tackled with the help of dedicated security teams. However, recruiting and retaining such a large workforce is feasible and affordable for large organizations that are difficult for small and medium enterprises due to the limitation of resources. It can be resolved with MDR as it is an outsourced service. In regards to region, Europe occupies a dominant market position.
Get a Free sample of the report- https://www.reportsanddata.com/sample-enquiry-form/2555
Key participants include – IBM, Bae Systems, Fireeye, Kudelski Security, Optiv Security, Arctic Wolf Networks, Paladion, Rapid7, Watchguard, and Redscan
Further key findings from the report suggest
- The MDR market held a market share of USD 974.9 Million in the year 2020 and forecasted to grow at a rate of 28.00% during the forecast period.
- In regards to Security Type, the Endpoint Security segment generated the highest revenue of USD 213.3 Million in 2020, with a growth rate of 30.7% during the forecast period. Network devices are endpoints that are connected remotely, forms the entry point for probable cyber threats. The revenue generated by the Endpoint Security segment is attributed to the fact that, with the help of this type of security continuous real-time threat prevention, detection can be provided that helps in resolving the issue of cyber threat.
- In the context of the Service Type, the Threat Detection segment held the largest market share of 38.0% in 2020, with a growth rate of 30.7% during the forecast period. The market dominance of the segment is resultant of rising emphasis on preventing data theft among various end-users and effectiveness of this service in analyzing collected forensic data to identify, monitor, and manage security threats.
- In regards to the End-user, the Banking, Financial Services, and Insurance segment held the largest market share of 26.0% in 2020, with a growth rate of 30.8% during the forecast period. The sector being highly vulnerable to data breaches, security threats, and high cost of every stolen record in data breaches, propels the incorporation of the service.
- In context to region, Asia Pacific is projected to witness the fastest growth rate of 31.6% during the forecast period, which is expected to occupy 26.9% of the market by 2028. The growth rate experienced by the region is attributed to its digital transformation, well-developed cloud infrastructure, and government initiatives like Digital India.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/managed-detection-and-response-mdr-market
For the purpose of this report, Reports and Data have segmented the global managed detection and response market based on Security Type, Organization Size, Service Type, Deployment, End-user, and region:
Security Type Outlook (Revenue, USD Million; 2020-2028)
- Network Security
- Endpoint Security
- Cloud Security
- Application Security
Organization Size Type Outlook (Revenue, USD Million; 2020-2028)
- Large Enterprises
- Small and Medium-Sized Enterprises
Service Type Outlook (Revenue, USD Million; 2020-2028)
- Retained Incident Response
- Threat Detection
- Protective Monitoring
Deployment Type Outlook (Revenue, USD Million; 2020-2028)
End-user Type Outlook (Revenue, USD Million; 2020-2028)
- Banking, Financial Services, and Insurance [BFSI]
- Energy and Utilities
- Telecommunications and IT
- Government and Defense
Request a customization of the report- https://www.reportsanddata.com/request-customization-form/2555
Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- Latin America
Similar Research reports by Reports and Data of Customer Experience Management Market Analysis, By Component Type (Solution, Services), By Touch Point (Social Media, Contact Centre, Virtual Assistant), Deployment Type, By End User (BFSI, Retail, Government, Hospitality), and By Region, Forecasts to 2028
Emotion Detection and Recognition Market Size, Share And Industry Analysis By Software Tool (Speech and Voice Recognition, Bio-Sensing Software Tools and Apps, Facial Expression Recognition), By Technology (Bio-Sensors Technology, Feature Extraction and 3D Modeling, Natural Language Processing [NLP], Machine Learning, Pattern Recognition, Others), By Application Area (Law Enforcement, Monitoring, and Surveillance, Entertainment and Consumer Electronics, Marketing and Advertising, Medical emergency and healthcare, Others), By Service (Consulting and Integration, Storage and Maintenance), By End-user (Defense and security agencies, Commercial, Industrial, Enterprises, Others) And Region, Segment Forecasts To 2026
Smart Railways Market Share, Size & Analysis, By Type (Station and On-Board Train), By Solution, By Service, By Device And Segment Forecasts, 2016-2026
Patient Engagement Solutions Market By Component Type (Hardware, Software, Services), By Delivery Mode (On-premise, Cloud), By End Use (Provider, Payer), By Application (Home Healthcare Management, Health Management, Financial Health, Others), By Therapeutic Area (Womenâ€™s Health, Chronic Diseases, Fitness, Others), and By Region Forecast to 2028
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.