Rise in Advanced and Sophisticated Cyber Attacks in Most of the Countries is Escalating the Growth of the Managed Detection and Response Market

While digital transformation has helped companies to outsource key services to cloud-based applications, this has increased the vulnerability of the companies' infrastructure to cyber-attacks and security breaches. To overcome such risks, organizations are adopting managed detection and response solution which are a proactive and necessary security option for resource constrained organizations at risk. Additionally, organizations require rapid threat detection and response, 24/7 coverage but a lot of these organizations have resource constraints. Managed Detection and Response solution addresses the shortage of skilled cybersecurity professionals and budget constraints and thus it is the fastest growing segment in the cybersecurity domain.

Integration of advanced technologies like machine learning, artificial intelligence with MDR solutions creates an avenue for building customized and efficient solutions according to business needs of the organizations. Thus, helping businesses to identify and overcome advance cyberattacks in the smallest timeframe possible.

According to Marketlook Consulting’ research report “Global Managed Detection and Response Market Analysis, 2021”, the global managed detection and response market is anticipated to grow at a CAGR of around 16% during 2022-29. The market would reach to USD 9.12 billion by 2029.

Based on Security Type, end point security is expected to have a significant market share during the forecast period. Services in end - point security segment includes training & consulting, integration & implementation support, and maintenance. There is an increase in the adoption of consulting services among companies to build customized solutions according to their business requirements.

“Global Managed Detection and Response Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for managed detection and response market solutions providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Dominated the Market

Based on leading regions, North America dominated the global managed detection and response market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29 due the advancement in technology, presence of top security vendors and increased number of security breaches and cyber-attacks in the region. Additionally, rise in mobile and web usage and greater use of online applications along with adoption of cloud technologies are projected to fuel the demand for managed detection and response solutions in the forthcoming period as stated in Marketlook Consulting research report “Global Managed Detection and Response Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Air Purifier market are Ackcent Cybersecurity, Alert Logic, Arctic Wolf, Binary Defense, CrowdStrike Holdings Inc., Cybereason, Cysiv Inc., eSentire Inc., Gosecure Inc., Kudelski Security, LMNTRIX, Mandiant, Netsurion, Secureworks.

Market Segmentation:

1. By Security Type (End point security, Cloud security, Network security)
2. By Deployment Model (On - premise, Cloud)
3. By Organization Size (Small, Medium and Large Organizations)
4. By Industry Verticals (BFSI, IT & Telecom, Retail, Healthcare, Government, Others)
5. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
6. By Company (Ackcent Cybersecurity, Alert Logic, Arctic Wolf, Binary Defense, CrowdStrike Holdings Inc., Cybereason, Cysiv Inc.,  eSentire Inc., Gosecure Inc., Kudelski Security, LMNTRIX, Mandiant, Netsurion, Secureworks)

Key questions answered in the study:

1. What are the current and future trends of the Managed Detection and Response industry?
2. How the industry has been evolving in terms of security type and deployment?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Managed Detection and Response industry?
5. What is the customer orientation, purchase behavior, and expectations from the Managed Detection and Response firms across various regions?