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

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.