Global Managed Detection and Response (MDR) Market Report, Industry Analysis and Forecast to 2029

The global Managed Detection and Response market was valued at USD 2.48 billion in 2021 and is projected to reach USD 9.12 billion in 2029, at a Compound Annual Growth Rate (CAGR) of 16.2 during the forecast period 2022-2029.

Managed detection and response (MDR) is a cybersecurity service that combines technology and human expertise to perform threat hunting, monitoring, and response. The main benefit of MDR is that it helps rapidly identify and limit the impact of threats without the need for additional staffing. MDR addresses the challenge of an expanding threat surface and constantly evolving attacks by providing a platform and experts capable of minimizing the likelihood or impact of successful attacks on organizations.

Managed Detection and Response solutions can be classified on the basis of security type such as end point security. cloud security among others. Additionally, there are different deployment models such as on premise and cloud based for these solutions. This report emphasize the security type, deployment model, organization size, industry verticals and application of the managed detection and responses in different regions and countries over the forecast period.

Global Managed Detection and Response Market Overview

The global managed detection and response solutions demand is driven by the constant threat of data loss and security breaches in the organizations. Such threats are on rise due to more sophisticated attacks and expansion of remote working due to the pandemic. Thus, making managed detection and response as one of the fastest growing segment in the cyber security domain. As the organizations grow so does the volume and variety of data which makes the organization more vulnerable towards threats, thus vendors are focusing on a shared technology framework to tackle such issues.

Managed Detection and Response Market Dynamics

As the increasing number of enterprises are shifting towards cloud -based services along with the rise in the number of cyber-attacks reported, organizations are shifting primarily towards cloud-based end point solution which is one of the MDR solutions available in the market. Additionally, the generation of large amount of data has increased the risk associated with data security. Advanced Technologies like machine learning and artificial intelligence are getting incorporated in the upcoming cyber security solution which provides increased threat protection, automated intelligent security, rapid responses and low cost of ownership, thus making these solutions more effective and generating lucrative opportunities in the managed detection and response market.

Owing to the pandemic, increase in the adoption of remote work culture and the prevalence of digital transformation among businesses has increased the risk of security breaches and thus facilitating the demand of managed detection and response solutions in the market.

Furthermore, vendors are constantly trying to offer customized solution based on the business needs of the organizations which tends to increase the cost of such solutions. Maintenance and customization expenses are one of the limiting factors for the market growth.

Managed Detection and Response Market Report Outlook

The managed detection and response market report focuses on different aspects regarding security type, deployment model of MDR solutions across different organization size and industry verticals using such cyber security solutions. The research analyses the different security types, deployment model, organization size and industry verticals of the solution in order to obtain a better understanding regarding the growth and trends of the market since 2019 which also facilitates the estimation of the upcoming growth of the market in the next 7 years.

Managed Detection and Response Market Competitive Landscape

The report also holds competitive analysis which can be used to differentiate different types of solutions; technologies used in building the solutions; prices; innovation in R&D; organic and inorganic growth strategies; financial analysis to determine the revenue generation and other key aspects of the finance; new partnership, joint ventures, collaborations, and acquisitions; market share of the top competitors in the market; and understand the growth strategies being undertaken by these major players to analyses the future market trends.

For instance, In April 2022, Cisco released security updates for its three highly vulnerable products that are TelePresence, RoomOS and Umbrella VA that are at high risk of exploitation for creation of Denial-of-Service (DOS). Additonally, in March 2022, Crowdstrike launched a new product “Falcon” Identity Threat Protection Complete, which is the first fully managed identity threat protection solution in the industry.

Other major players holding prominent share in the managed detection and response market includes  Ackcent Cybersecurity, Alert Logic, Arctic Wolf, Binary Defense, CrowdStrike Holdings Inc., among others. There are several regional and local players in this market across the globe which are contributing towards the revenue growth of the market and thus expected to flourish with new launches and expansion in the upcoming years.

Managed Detection and Response Market Regional Analysis

The market synopsis will also cover the regional dynamics and growth prospects which would include regions- North America, Asia Pacific, Europe, Latin America, Middle East and Africa. These regions will be analysed per countries on the basis of market drivers, restraints, opportunities, and trends to get a closer view of the market studied.

North America is expected to share the largest market share during the forecast period. The major contributing factors are the advancement in technology, presence of top security vendors and increased number of security breaches and cyber-attacks. The United States of America holds the largest share in the region in terms of revenue in the managed detection and response market. Growing Prevalence of IoT and increasing security threat are the key factors that are expected to accelerate the market growth in the region.

Tremendous growth opportunities in the Asia Pacific region has been generated for the managed detection and response market. The region has a large number of established SMEs. These enterprises follow a traditional defense mechanism. The increasing threat of security breaches and data loss has led to the adoption of MDR solution to overcome advance and sophisticated cyber-attacks. Scrutinizing these factors for the countries are expected to enhance the value chain of the Automotive Lubricants market and aid us with better insights about the same.

Managed Detection and Response Market In-depth Analysis Aspects

To mention certain other aspects which will include the Porter Five Forces, Pricing analysis, PESTEL Analysis, Export-Import data, and Industry Value Chain will also bind the analysis of the report.

Research Methodology

The study period of the market is considered to be 7 years (2022-2029) which will be analyzed through the two major research techniques – Primary and Secondary Research methods. The primary research method includes the interviews of the key personnel in the industry considered as the industry experts, major distributors, suppliers, and consumer base sample survey to understand the direct perspective of the market. Additionally, these data are backed by the secondary research method which includes company overview through websites, annual reports, SEC filings, investor presentations, news, and databases. The growth trends are always measured on the basis of current and past scenarios considering any recent news which can drastically impact the growth rate of the market studied. Moreover, the consumption forecast depends on the company’s upcoming plans and revenue generation aspects.

Benefits of The Report

• The report is designed to understand the past, present and future market scenarios considering all the growth, restraining, and other factors influencing the market studied.
• The report is designed with the assistance of the industry experts for better understanding on the market studied
• The market is analysed with in-depth study of the company’s view on the market considering the present economical, political, social, geographical, and legal factors.
• To gain a clear insight for better future perspective of the market studied in 360 degree synopsis.
• Understand the competition in the market being a part of the market or a new entrant in the market.
• Analyse the different aspects in different geographies influencing the growth of the market through diverse consumer base.