Managed Detection and Response (MDR) Market Size Worth $8.67 Billion By 2030 | CAGR: 15.9%

The global managed detection and response (MDR) market size is expected to reach USD 8.67 billion by 2030, according to a new study by Polaris Market Research. The report “Managed Detection and Response (MDR) Market Share, Size, Trends, Industry Analysis Report, By Deployment (Cloud, On-premises); By Security; By Organization Size; By Industry Vertical; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growth of the global managed detection and response market is primarily driven by the increased application of MDR solutions in the BFSI sector. Increasing regulations, rules, and processes governing several aspects of data security, company licensing, and deployment of solutions have boosted the growth of this industry.

Have Questions? Request a sample or make an Inquiry before buying this report by clicking the link below: https://www.polarismarketresearch.com/industry-analysis/managed-detection-and-response-market/request-for-sample

In addition, government regulations associated with the leak of customer information and offering enhanced security are expected to protect critical business information and take strict actions against any data theft.

Key players operating in the industry are facing less negative impact from the COVID-19 outbreak as compared to most industries. The demand for the industry has increased with cyber threats on the rise amid the COVID-19 pandemic and greater risk to organizations and enterprises.

The outbreak of COVID-19 has positively influenced the growth of the industry. These opportunities include a surge in demand for cloud-based managed detection and response solution in enterprises owing to remote work. It has also altered how businesses handle their processes safely and securely. Data storage capabilities are being shifted to the cloud on account of greater safety and convenience to users.

In North America, businesses are investing in emerging technologies to streamline work processes. Furthermore, the rise in the use of these solutions in BFSI and government sectors for improved data security and superior performance & efficiency drives the growth of the industry in the region. Developed IT infrastructure in this region propels the adoption of a cloud-based solution, which further drives the growth of the industry.

Managed Detection and Response (MDR) Market Report Highlights

• Endpoint Security segment accounted for a major share owing to the increase in adoption of consulting services among organizations
• Cloud segment accounted for the largest revenue share owing to use of cloud technology in businesses for superior performance and cost efficiency
• By industry vertical, the BFSI segment accounted for the largest market share on account of greater need to protect sensitive customer data
• North America region will lead the global managed detection and response market by 2030. Presence of leading industry players in the region and technological advancement supports the market growth in the region
• The global managed detection and response market is highly competitive owing to the existence of large industry players with global presence including Ackcent Cybersecurity, Alert Logic, Arctic Wolf, Binary Defense, CrowdStrike Holdings Inc., and Cybereason among others

Polaris Market Research has segmented the Managed Detection and Response (MDR) market report based on security, deployment, organization size, industry vertical, and region:

Managed Detection and Response (MDR), Security Outlook (Revenue - USD Billion, 2018 - 2030)

• Endpoint Security
• Network Security
• Cloud Security                                    

Managed Detection and Response (MDR), Deployment Outlook (Revenue - USD Billion, 2018 - 2030)

• Cloud
• On-Premises

Managed Detection and Response (MDR), Organization Size Outlook (Revenue - USD Billion, 2018 - 2030)

• Small & Medium Enterprises
• Large Enterprises

Managed Detection and Response (MDR), Industry Vertical Outlook (Revenue - USD Billion, 2018 - 2030)

• BFSI
• IT & Telecom
• Retail
• Healthcare
• Government
• Others

Managed Detection and Response (MDR), Regional Outlook (Revenue - USD Billion, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa