Managed Detection and Response Market Size & Analysis - Forecasts To 2025 By Service (Threat Detection, Threat Monitoring, Incident Response/Termination); By Application (Automotive, BFSI, Aerospace & Defense, Electrical & Electronics, Telecommunications, Others); By Deployment (Cloud, On-Premises); By Organizational Size (Small & Medium Size Enterprises, Large Enterprises) By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa); End-Use Landscape; Vendor Landscape and Competitive Landscape - Global Market Estimates
Managed Detection and Response Market Insights
The global managed detection and response (MDR) market is anticipated to grow at a CAGR of 35.8% over the forecast period. The market demand is expected to be influenced by increased incidences of cybercrimes and threats across the globe. Managed detection and response services are a mix of technology and skills that provide global threat intelligence, rapid incident mitigation, advanced threat detection, and collaborative breach response throughout the day.
Managed detection and response services are not considered as a replacement of traditional managed security services. Moreover, it enhances traditional managed security services with increased emphasis on detection and response to breaches with the help of complementary technologies and services on response orchestration, threat intelligence, and security analytics.
Managed Detection and Response Market: Service Insights
The global managed detection and response market is segmented into Threat Detection, Threat Monitoring, and Incident Response/Termination, based on services.
Threat detection service type is anticipated to grow significantly over the years. Threat detection solutions are designed to detect and analyse the possibility of threats being caused, followed by choosing an appropriate actionable strategy. Advanced threat detection plays a crucial role in protecting data from advanced and persistent malware threats. Threat monitoring service type acts as a safeguard mechanism which monitors the alerts on a regular basis and notifies the clients according to the severity of these alerts. Incident Response Plan is designed to address and manage the aftermath of a security breach or cyber-attacks.
Managed Detection and Response Market: Application Insights
The global managed detection and response market is segregated into automotive, BFSI, aerospace & defense, electrical & electronics, and telecommunications amongst others.
The BFSI sector accounted for the highest market share due to the rising fraud and money laundering cases in the industry. Technological advancements in banking sector such as e-banking, ATM, and mobile banking has increased the vulnerability of customers fuelling the demand in the forecast period.
Managed Detection and Response Market: Deployment /Organizational Site Insights
The managed detection and response market is segmented into Cloud and On-Premises, based on deployment mode. Managed detection and response services are mainly deployed to manage and deliver predictive solutions for advanced persistent threats, and other attacks on network security infrastructure.
Based on the Organizational site, the managed detection and response market is divided into Large Enterprises and Small & Medium-Sized Enterprises. The SMEs application segment is likely to witness the highest CAGR over the forecast period attributing to increasing incidences of data breaches on these enterprises coupled with the need to deploy appropriate MDR solutions. SMEs though small in size, but cater to a large number of clients globally.
Managed Detection and Response Market: Regional Insights
Asia Pacific is anticipated to register a substantial market share over the forecast period. This growth is attributed to large investments by several large and small & medium sized enterprises in order to deal with the increasing cyber-attacks, particularly in regions such as China, Japan, and India.
North America is also projected to record a significant CAGR over the coming years due to a large number of existing vendors operating in this region along with growing use of e-tailing and other online-based services.
Managed Detection and Response Market: End-Use Landscape
The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from the global managed detection and response market. The major consumers of the product are Verizon Communications Inc. and Allianz amongst others.
Managed Detection and Response Market: Competitor Analysis
Some of the key players profiled in the managed detection and response market include Alert Logic, Arctic Wolf Networks, Cisco, CrowdStrike, CSIS, Cybereason, Cynet Systems, Datashield, eSentire, F-Secure, FireEye, Ingalls Information Security, IronNet Cybersecurity, and K2 Intelligence among others
Please note: This is not an exhaustive list of companies profiled in the report.
In February 2017, Datashield, a leader in managed detection and response services, announced the release of a new cyber security product called “The Datashield Security Appliance’, built in partnership with DELL EMC, and leveraging RSA's NetWitness Suite.
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The global Managed Detection and Response Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Managed Detection and Response Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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