/EIN News/ — Chicago, July 29, 2022 (GLOBE NEWSWIRE) — Extended Detection and Response (XDR) Market Size is expected to grow from USD 985 million in 2022 to USD 2,358 million by 2027, at a compound annual growth rate (CAGR) of 19.1% during the forecast period, according to a new report from MarketsandMarkets™ . The increasing scale of cyberattacks has increased the need for XDR solutions. Organizations are increasingly moving from point solutions to XDR because XDR provides visibility into many important data sources including endpoints, network, cloud, email, identity, ‘IoT/OT and others to find and respond to threats often missed by individual point solutions.
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279 – Tables
45 – Numbers
235 – Pages
|Market size available for years||2018-2027|
|Reference year considered||2021|
|Forecast units||Value (USD million)|
|Segments Covered||Component, Deployment Mode, Organization Size, Vertical, and Region|
|Geographies covered||North America, Europe, Asia-Pacific, Middle East and Africa (MEA) and Latin America|
|Large companies covered||Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix ( US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US) US), AT&T (US), eSentire (US), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US) United), LMNTRIX (United States), Hunters (Israel), Confluera (United States)|
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The COVID-19 pandemic is having positive impacts on the XDR market. The adoption of XDR has increased due to the increase in cyber threats and incidents and the growing trend of BYOD and WFH around the world; the use of managed security and XDR has increased. Given the pandemic, cyberattacks increased by 151% in 2021, an average of 270 cyberattacks per organization. For this reason, local businesses have turned to global hyperscalers for assistance in implementing XDR solutions and services to make their operations more efficient, scalable, and secure.
The component services segment is expected to grow with the highest CAGR during the forecast period. The service segment has grown tremendously in recent years. SMBs and large enterprises increasingly rely on XDR vendors to better respond to cybersecurity incidents. The financial services, healthcare, and e-commerce industries have experienced huge data loss due to security breaches. Businesses continue to thrive in developing skilled cybersecurity professionals. Hence, they heavily depend on XDR to enhance their cybersecurity capabilities.
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Cloud deployment mode in XDR market is expected to have the largest market size. The cloud-hosted deployment is also known as the SaaS model. These modes of deployment significantly reduce the cost of purchasing and maintaining hardware, as it is managed and maintained by hosted providers. Additionally, organizations can scale up or down, depending on their use of the services. Cloud-hosted services offer pay-as-you-go pricing models to end users. Organizations are adopting hosted services because they are easy to install and scalable.
The increasing scale of cyberattacks has increased the need for XDR solutions. Organizations are looking for solutions that provide better visibility into the cyber threat landscape. Companies are considering XDR solutions because they are not satisfied with the security results of SIEM, or legacy EDR, or even MSSPs. The growth rate of XDR is mainly attributed to the detection of security threats not only on endpoints, but also in the cloud, on mobile devices and on user identities. The capabilities offered by XDR such as advanced analytics (AI and ML) to detect and identify complex attacks hold huge potential for market growth in the future.
Leading innovative vendors in the extended detection and response market include Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US) United States), Exabeam (United States), Cynet (United States), LMNTRIX (United States), Hunters (Israel) and Confluera (United States).
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Managed Detection and Response (MDR) Market by Security Type (Network, Endpoint, Cloud), Deployment Mode (On-Premises and Cloud), Organization Size (SMB and Enterprise), Vertical, and Region – Global Forecast to 2027
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