The Business Research Company’s report on the Managed Detection And Response Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the managed detection and response market further?
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 are managed cyber security systems that detect malicious network activities and malware invasions and allow 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 about cyber-attacks and threats targeting enterprises are driving the growth of the managed detection and response market.
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What are the key factors influencing the forecasted market size of the managed detection and response industry?
The managed detection and response market size has grown rapidly in recent years. It will grow from $2.95 billion in 2024 to $3.47 billion in 2025 at a compound annual growth rate (CAGR) of 17.6%. 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 exponential growth in the next few years. It will grow to $7.27 billion in 2029 at a compound annual growth rate (CAGR) of 20.3%. 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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Who are the leading competitors in the managed detection and response market?
Major companies operating 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.
Which emerging trends are set to transform the managed detection and response market landscape?
Technological development is a key trend gaining popularity in the managed detection and response market. Major companies operating in the managed detection and response market are focused on developing new technological solutions to meet customer demand. For instance, in June 2024, Darktrace plc, a UK-based cybersecurity company, launched the Darktrace Managed Detection & Response service. Darktrace MDR merges AI-powered threat detection with round-the-clock human expert support to strengthen security operations for organizations. This service is designed to empower internal security teams by offering expert alert management and effective threat containment. By integrating these capabilities, it enhances the overall security posture of organizations.
How do different geographies compare in terms of market share and growth potential in the managed detection and response market?
North America was the largest region in the managed detection and response market in 2024. 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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Which major segments of the managed detection and response market are experiencing the fastest growth?
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
Subsegments:
1) By Retained Incident Response: On-Demand Incident Response, Proactive Threat Hunting, Forensic Analysis
2) By Threat Detection: Network-Based Detection, Endpoint Detection And Response (EDR), Log Management And Analysis
3) By Protective Monitoring: Security Information And Event Management (SIEM), Continuous Security Monitoring, Vulnerability Management
4) By Other Service Types: Risk Assessment, Compliance Management, Security Awareness Training
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How is the managed detection and response market defined, and what are its core characteristics?
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.
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