Global Managed Detection and Response (MDR) Service Market Proactive Cybersecurity Defense | Forecast 2023 to 2030 | eSentire, Cisco, Arctic Wolf Networks, Blackpoint Cyber

Published October 26, 2023

At a CAGR of 23.3%, the Managed Detection and Response (MDR) Service Market is anticipated to increase from USD 3.3 billion in 2023 to USD 9.5 billion by 2030. The market for MDR is expanding as a result of rising compliance requirements, frequent and sophisticated cyberattacks, and a lack of qualified cybersecurity personnel. A security solution called Managed Detection and Response (MDR) offers businesses round-the-clock cybersecurity threat monitoring and response. To identify and respond to threats, MDR providers employ a range of security tools and technologies, including as security information and event management (SIEM), intrusion detection systems (IDS), and intrusion prevention systems (IPS).

Despite being a relatively young industry, the managed detection and response (MDR) service market is expanding quickly as a result of the sophistication and frequency of cyberattacks. MDR services give businesses a means to contract out their security operations to a group of professionals who can continuously scan their systems and networks for threats. Early in the 2010s, the MDR industry started to take shape, but it has truly taken off since.

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The Key companies profiled in the Managed Detection and Response (MDR) Service Market:

The study examines the Managed Detection and Response (MDR) Service Market’s competitive landscape and includes data on eSentire, Cisco, Arctic Wolf Networks, Blackpoint Cyber, Rapid7, Symantec, Zimcom a Liberty Center One Company, AT&T, Bitdefender, Booz Allen Hamilton, Catapult Systems, CI Security, Clearnetwork, Cybereason, Abacode, CyberMaxx, Blackberry Cylance, Expel, FireEye, F-Secure, Ingalls Information Security, IronNet Cybersecurity, Masergy, Microland, NRI SecureTechnologies, Paladion, Proficio, Red Canary, Redscan, Rook Security & Others.

Global Managed Detection and Response (MDR) Service Market Split by Product Type and Applications

This report segments the Managed Detection and Response (MDR) Service Market on the basis of Types:

On the basis of Application, the Managed Detection and Response (MDR) Service Market is segmented into:
Large Enterprises

Because they provide a variety of benefits over on-premises systems, including scalability, flexibility, and simplicity of management, cloud-based MDR solutions are growing in popularity. The effectiveness and efficiency of threat detection and response are being increased by the application of new MDR technologies, such as AI and ML. Additionally, SOAR solutions are being utilized to combine various security tools and automate processes, which may assist enterprises in strengthening their overall security posture. There has been an increasing tendency in recent years to use cloud-based MDR solutions. Scalability, flexibility, and cost effectiveness are just a few benefits of cloud-based MDR systems. The rise of MDR providers that focus on particular sectors or verticals is another new trend in the MDR market. This is as a result of the fact that different industries have different cybersecurity needs and requirements.

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The largest Managed Detection and Response (MDR) Service Market is in North America, followed by Europe and Asia Pacific. Throughout the projection period, the North American market is anticipated to continue expanding at the quickest rate. This is because major businesses in the area have a strong need for MDR services. During the projection period, it is also anticipated that the European MDR market would expand considerably. This is a result of firms in the area being more aware of cybersecurity dangers and the increased requirement for compliance. During the projected period, the MDR market in Asia Pacific is anticipated to develop at the quickest rate. This is because the region’s IT and telecom sectors are expanding quickly, and more people are using the cloud.

Cumulative Impact of COVID-19 on Market:
A few countries’ economies and territories have suffered as a result of the COVID-19 episode’s lockdowns, travel economic sanctions, and friend dismissals. Due to the pandemic, the global market is one of the primary organizations experiencing significant disruptions such as production network disruptions, innovation event abrogations, and work climate terminations. With its presence and substantial unprocessed material suppliers, China is a global contemporary major economic power.

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