USD 2.70 Billion
Managed Detection and Response Market Size, Share, Growth Analysis, By Service Type(Protective Monitoring, Prioritization of Threats & Alerts, Threat Hunting, Managed Investigation Services), By Security Type(Endpoint Security, Network Security, Cloud Security, Other Security Types), By Vertical(BFSI, IT & ITES, Government, Energy & Utilities), By Deployment Mode(On-premises, Cloud), By Organization Size(Large Enterprises, Small & Medium-Sized Enterprises), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2137 |
Region:
Global |
Published Date: September, 2024
Pages:
176
|Tables:
92
|Figures:
71
Managed Detection and Response Market Insights
Global Managed Detection and Response Market size was valued at USD 3.8 billion in 2022 and is poised to grow from USD 4.01 billion in 2023 to USD 5.45 billion by 2031, growing at a CAGR of 23.54% during the forecast period (2024-2031).
A rapid surge in the incidence of cyberattacks and data breaches is primarily driving up the demand for managed detection and response around the world. Increasing digitization and launch of new digital transformation initiatives around the world are also expected to create new opportunities for managed detection and response companies in the future. Growing adoption of cloud platforms and technologies and imposition of strict regulatory mandates for data privacy and security are also estimated to bolster managed detection and response market growth in the long run. Dearth of skilled cybersecurity professionals is another key prospect that is favoring the adoption of managed detection and response on a global level. Rapid rise in the number of remote workers around the world after the COVID-19 pandemic has also created an opportune setting for managed detection and response companies. On the contrary, challenges in integration, false positives, and data privacy concerns are slated to be some key restraints that trouble managed detection and response providers in the long run.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Endpoint Security
Fastest Growth
Network security
Growth Rate
23.3%
Global Managed Detection and Response Market ($ Bn)
Country Share for North America Region (%)
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Managed Detection and Response Market Segmental Analysis
Global Managed Detection and Response Market is segmented by Service Type, Security Type, Vertical, Deployment Mode, Organization Size, and Region. Based on Service Type, the market is segmented into Protective Monitoring, Prioritization of Threats & Alerts, Threat Hunting, Managed Investigation Services, Guided Response, Managed Remediation. Based on Security Type, the market is segmented into Endpoint Security, Network Security, Cloud Security, Other Security Types. Based on Vertical, the market is segmented into BFSI, IT & ITES, Government, Energy & Utilities, Manufacturing, Healthcare, Retail, Other Verticals. Based on Deployment Mode, the market is segmented into On-premises, Cloud. Based on Organization Size, the market is segmented into Large Enterprises, Small & Medium-Sized Enterprises. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Managed Detection and Response Market Analysis by Deployment Mode
Cloud-based managed detection and response is forecasted to account for a dominant share of the global managed detection and response market. Low costs and high scalability are some key benefits of cloud-based managed detection and response which allow this segment to hold prominence over others. Advancements in cloud technologies and growing adoption of the same are also aiding the high market share of this segment. Rising popularity of infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS) models is also expected to create new opportunities for managed detection and response companies operating in this segment.
Meanwhile, the demand for on-premises managed detection and response is slated to increase at a notable pace over the coming years. Increasing emphasis on security among companies operating in the finance, banking, and healthcare industry verticals will help this segment boost managed detection and response market growth across the forecast period and beyond. Rising demand for better control and flexibility over data among large organizations is estimated to help bolster the demand for on-premises managed detection and response solutions and services in the long run. Use of on-premises managed detection, and response will also help in reducing latency and optimizing security performance.
Managed Detection and Response Market Analysis by Organization Size
Small and medium enterprises (SMEs) are forecasted to account for the highest demand for managed detection and response solutions and services in the future. Increasing complexity of cyberattacks and rising awareness regarding importance of security among SMEs are slated to be key factors aiding the dominance of this segment. Rising preference of SMEs to outsource their security operations due to lack of in-house resources and limited spending potential is estimated to help this segment lead the global managed detection and response market growth in the future. Increasing the number of small and medium enterprises around the world will also help this segment maintain its dominance.
On the other hand, the demand for managed detection and response from large enterprises is projected to increase at a robust pace in the future. Growing spending of large enterprises on enhancing their security and increasing complexity of IT infrastructure in the same are expected to create new opportunities for managed detection and response companies going forward. Rising complexity of cyber threat landscape and continuous evolution of cyberattacks will also promote the adoption of managed detection and response solutions and services in large enterprises over the coming years.
Global Managed Detection and Response Market By Deployment Mode
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Managed Detection and Response Market Regional Insights
The rapid adoption of advanced technologies and high incidence of cyberattacks are slated to be key factors allowing North America to account for a dominant share of the global managed detection and response market. The presence of key managed detection and response providers and high adoption of cloud technologies are also expected to help this region maintain its high market share across the study period. The United States and Canada are slated to be the top markets for managed detection and response companies to target in North America going forward. Imposition of stringent data privacy and security mandates by governments in this region will also bolster market development in the future.
Asia Pacific is forecasted to emerge as the fastest-expanding market in the world for managed detection and response companies. Increasing internet penetration, rising vulnerability to cyber-attacks, and growing popularity of remote work are some key factors that make this region a highly opportune one in the global landscape. China, India, and Japan are slated to be rewarding markets for managed detection and response companies owing to the presence of a strong start-up ecosystem in these countries. Rising awareness regarding sophisticated cyberattacks in this region and increasing spending on cybersecurity are also slated to bolster the demand for managed detection and response going forward.
Global Managed Detection and Response Market By Region
- Largest
- Fastest
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Managed Detection and Response Market Dynamics
Managed Detection and Response Market Drivers
Rising Incidence of Cyberattacks and Data Breaches
- Cyberattacks and data breaches are becoming increasingly common around the world as attackers become more aware of vulnerabilities and develop more complex viruses. Managed detection and response solutions and services play a crucial role in managing and fending off complex cyberattacks and data breaches thereby driving market growth.
Growing Number of Remote Workers
- The trend of remote work has picked up substantially in recent years, especially after the COVID-19 pandemic. This increase in the number of remote workers is also creating new opportunities for managed detection and response companies as the focus on endpoint security increases in organizations. MDR services offer advanced endpoint detection and response (EDR) capabilities to enhance endpoint security.
Restraints
Challenges in Integration
- Integrating advanced security solutions with legacy IT infrastructure is a major challenge and this is expected to impede managed detection and response adoption. Additional investment and resources are required to integrate managed detection and response with legacy systems thereby adding up to the already expensive deployment of comprehensive managed detection and response.
False Positives
- Managed detection and response solutions and systems can generate a high volume of positives with most of them panning out as false positives on further investigation. This could lead to alert fatigue among professionals and overwhelm them with positives whilst making them oblivious to actual threats, thereby impeding market growth potential.
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Managed Detection and Response Market Competitive Landscape
To address the increasingly complex cybersecurity landscape, managed detection and response market players need to innovate and launch new offerings. Collaborations and partnerships will be crucial strategies for companies looking to enhance their global managed detection and response market presence. Investing in the integration of advanced technologies such as artificial intelligence and machine learning could also offer lucrative returns for all managed detection and response market players in the long run.
Managed Detection and Response Market Top Player’s Company Profiles
- CrowdStrike
- Rapid7
- Arctic Wolf
- Kudelski Security
- SentinelOne
- Proficio
- Expel
- Secureworks
- Summit Partners
- Fortra
- Chertoff Group
- Alphabet Inc.
- Binary Defense
- Thoma Bravo
- Esentire
- Deepwatch
- Lumifi Cyber
- Gosecure
- Lmntrix
- Underdefense
- Ackcent
- Cybereason
- Critical Start
- Advent International
- Digital Research, Inc.
Managed Detection and Response Market Recent Developments
- In August 2024, SentinelOne Inc., a renowned cybersecurity organization announced the general availability of its managed detection and response service offerings. Singularity MDR and Singularity MDR + DFIR are aimed at enhancing enterprise security across all environments ranging from cloud to networks in the wake of rising complexity of cyberattacks.
- In October 2024, Happiest Minds Technologies Limited, a leading IT and digital transformation organization announced the launch of its new managed detection and response service. Happiest Minds’ Secureline360 is powered by generative AI to streamline incident response for multiple organizations across different industry verticals. The solution uses a proprietary SecAiGenie platform for its AI capabilities.
- In June 2024, Darktrace, a leading name in the cybersecurity business based in the United Kingdom launched Darktrace Managed Detection & Response (MDR) service. The new offering is projected to help security teams streamline their workflow through the use of AI and also improve the overall cyber resilience of organizations as well.
Managed Detection and Response Key Market Trends
- Use of Advanced Technologies for Advanced Threat Detection: Managed detection and response companies will need to adopt technologies such as artificial intelligence and machine learning to provide advanced threat detection and management. Use of such technologies will improve the scope of application and adoption for managed detection and response around the world as emphasis on cybersecurity rises.
- Threat Hunting Services: As the name suggests, threat hunting services refer to actively hunting for potential threats to a system or organization. Managed detection and response companies can focus on providing threat hunting to enhance their market share and stay competitive in the global landscape. Managed detection and response providers that offer continuous threat hunting help organizations mitigate risks more effectively and reduce dwell time for undetected threats.
Managed Detection and Response Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growing prevalence of cyberattacks and rising popularity of the remote work trend are slated to be prime factors driving the demand for managed detection and response. However, false positives and challenges in integration are slated to slow down managed detection and response market growth in the future. North America is slated to emerge as the dominant market owing to quick adoption of advanced technologies and rising emphasis on security enhancement. Providing threat hunting services and advanced threat detection is slated to create new opportunities for managed detection and response companies in the future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 3.8 billion |
| Market size value in 2031 | USD 5.45 billion |
| Growth Rate | 23.54% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Managed Detection and Response Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Managed Detection and Response Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Managed Detection and Response Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Managed Detection and Response Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Managed Detection and Response Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Managed Detection and Response Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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