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How Does The Managed Detection And Response Market Size Project For The Future?
The Managed Detection and Response Market has witnessed a significant growth in recent years and is expected to rise sharply from $2.95 billion in 2024 to a substantial $3.47 billion in 2025, showcasing a compound annual growth rate (CAGR) of 17.6%. The factors that can be attributed to this surge in the historic period include demand for customization and flexibility, vendor consolidation, cost-effectiveness, improved incident response efficiency, and a shift towards cloud computing and remote work operations.
The market is also set to see exponential growth in the coming years, reaching up to $7.27 billion in 2029, reflecting a CAGR of 20.3%. This forecasted growth can be linked to market competition & consolidation, value proposition, emphasis on rapid response, expansion of remote work, and a 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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What Are The Major Growth Drivers For The Managed Detection And Response Market?
One of the primary growth drivers for the managed detection and response market is the growing concern about cyber-attacks and threats targeting enterprises. With cyber-attacks, there is an attempt to access a computer system or network illegally, causing substantial damage. Managed detection and response are managed cyber security systems that detect such malicious net activities and malware invasions and permit rapid incident response to eliminate these threats. For example, in 2023, AAG, IT support services provider, reported that 39% of UK companies experienced a cyber-attack in 2022. Also, in the first half of 2022 alone, cybercrime had an impact on 53.35 million US individuals.
What Are The Major Segments In The Managed Detection And Response Market?
The major segments covered in this report include –
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
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Who Are The Significant Players Operating In The Managed Detection And Response Market?
Some of the major companies in the managed detection and response market 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.
What New Trends Are Shaping The Managed Detection And Response Market?
Technological advancement is an emerging trend in the managed detection and response market. Companies are focusing on creating new technological solutions to meet customer demands. As a perfect example, Darktrace plc, a UK-based cybersecurity company, announced in June 2024 the launch of the Darktrace Managed Detection & Response service. This service combines AI-powered threat detection with 24/7 human expert support. This partnership empowers internal security teams by offering expert alert management and active threat containment, thus enhancing the overall security posture of organizations.
Which Region Encapsulates The Largest Section Of The Managed Detection And Response Market?
In 2024, North America led the global managed detection and response market, closely followed by Western Europe. The other regions assessed in this report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Managed Detection And Response Market Report 2025: What Does It Offer?
Managed detection and response refers to a service that provides businesses assistance in identifying threats and responding after they are found. It is used across businesses to provide threat detection services and respond to those threats. This Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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