Overview and Scope
Managed detection and response refers to a contracted service that would provide businesses assistance in identifying dangers and responding after they have been found. It is used in businesses and other facilities to provide threat detection services and respond to those threats.
Sizing and Forecast
The managed detection and response market size has grown rapidly in recent years. It will grow from $2.54 billion in 2023 to $3.01 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to demand for customization and flexibility, vendor consolidation, cost-effectiveness, incident response efficiency, shift to cloud and remote work..
The managed detection and response market size is expected to see rapid growth in the next few years. It will grow to $6 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to market competition & consolidation, value proposition, emphasis on rapid response, expansion of remote work, talent shortage in security.. Major trends in the forecast period include resilience and incident response, user behavior analytics (uba), managed security service providers (mssps), threat intelligence integration, iot and endpoint security..
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Segmentation & Regional Insights
The managed detection and response market covered in this report is segmented –
1) By Service Type: Retained Incident Response, Threat Detection, Protective Monitoring, Other Service Types
2) By Security Type: Network Security, Endpoint Security, Cloud Security, Application Security, Other Securities
3) By Deployment: On-Premises, Cloud
4) By Organization Size: SMEs, Large Enterprises
5) By Industry Vertical: Banking, Financial Service and Insurance (BFSI), IT and Telecommunications, Government and Defense, Energy and Utilities, Other Industry Verticals
North America was the largest region in the managed detection and response market in 2023. The regions covered in the managed detection and response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Growing concerns about cyber-attacks and threats targeting enterprises are expected to propel the growth of the managed detection and response market going forward. A cyber attack is an attempt to illegally access a computer system or a computer network to cause damage. Managed detection and response is a managed cyber security system that detects malicious network activities and malware invasions and allows quick incident response to quickly remove those threats. For instance, in September 2023, AAG, a provider of IT support services, reported that 39% of UK companies stated that they had experienced a cyber-attack in 2022. Furthermore, in the first half of 2022, cybercrime had an impact on 53.35 million US individuals. Therefore, the growing concerns of cyber-attacks and threats targeting enterprises are driving the growth of the managed detection and response market.
Key Industry Players
Major companies operating in the managed detection and response market report are CrowdStrike Holdings Inc., Rapid7, Red Canary Inc., Arctic Wolf Networks, Kudelski Security, SentinelOne Inc., Proficio, Expel Inc., Secureworks Inc., Alert Logic, Esentire Inc., BAE Systems, FireEye Inc., Cisco Systems Inc., Trustwave Holdings, Mandiant, Binary Defense, Sophos Group plc, Ackcent Cybersecurity, ActZero.ai, Aiuken Cybersecurity, GoSecure Inc., Ingalls Managed Detection and Response, IntelliGO Networks Inc., IronNet Cyber Operations Center, Open Systems AG, Optiv Security Inc., Raytheon Technologies Corporation, Cybereason, Cysiv Inc.
The managed detection and response market report table of contents includes:
1. Executive Summary
2. Managed Detection And Response Market Characteristics
3. Managed Detection And Response Market Trends And Strategies
4. Managed Detection And Response Market – Macro Economic Scenario
5. Global Managed Detection And Response Market Size and Growth
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31. Global Managed Detection And Response Market Competitive Benchmarking
32. Global Managed Detection And Response Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Managed Detection And Response Market
34. Managed Detection And Response Market Future Outlook and Potential Analysis
35. Appendix
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