Managed Detection and Response (MDR) Market to Reach $4,607.9 Million, Globally, by 2027 at 30.4% CAGR: Says Reports and Data | Top Players are IBM, Bae Systems, Fireeye, Kudelski Security, etc.

The Global Managed Detection and Response (MDR) Market is forecast to reach USD 4,607.9 Million by 2026, according to a new report by Reports and Data. MDR can be considered as an outsourced service that provides threat responding and identifying services to organizations, once any threat is discovered. Various factors are supporting the growth of the market. The fact that, in 2016, 2 million cybersecurity positions were unfilled, which is expected to increase to elevate to 3.5 million by 2021, clearly establishes the need for the right cybersecurity personnel in a large number of organizations. The fact mentioned above holds a major scope for expansion of the market. MDR addresses significant issues that adversely impact modern businesses.

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As an instance, cybersecurity is a major concern of every organization that can be tackled with the help of dedicated security teams. However, recruiting and retaining such a large workforce is feasible and affordable for large organizations that are difficult for small and medium enterprises due to the limitation of resources. It can be resolved with MDR as it is an outsourced service. In regards to region, Europe occupies a dominant market position. The market position held by the region is resultant of rising dependency on electronic networks, its continuous focus on cybercrime and establishing European Cybercrime Centre that emphasizes on law enforcement that positively impacts the demand for the service in this region.

In market segmentation by manufacturers, the report covers the following companies:- IBM, Bae Systems, Fireeye, Kudelski Security, Optiv Security, Arctic Wolf Networks, Paladion, Rapid7, Watchguard, and Redscan.

For the purpose of this report, Reports and Data have segmented the global managed detection and response market based on Security Type, Organization Size, Service Type, Deployment, End-user, and region:

Security Type Outlook (Revenue, USD Million; 2020-2027)
Network Security
Endpoint Security
Cloud Security
Application Security
Others

Organization Size Type Outlook (Revenue, USD Million; 2020-2027)
Large Enterprises
Small and Medium-Sized Enterprises

Service Type Outlook (Revenue, USD Million; 2020-2027)
Retained Incident Response
Threat Detection
Protective Monitoring
Others

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Deployment Type Outlook (Revenue, USD Million; 2020-2027)
Hosted
On-Premises

End-user Type Outlook (Revenue, USD Million; 2020-2027)
Healthcare
Banking, Financial Services, and Insurance [BFSI]
Energy and Utilities
Telecommunications and IT
Government and Defense
Retail
Manufacturing
Others

Regional Outlook (Revenue, USD Million; 2020-2027)
North America
Europe
Asia Pacific
MEA
Latin America

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Further key findings from the report suggest:

The MDR market held a market share of USD 547.0 Million in the year 2018 and forecasted to grow at a rate of 30.4% during the forecast period.

In regards to Security Type, the Endpoint Security segment generated the highest revenue of USD 213.3 Million in 2018, with a growth rate of 30.7% during the forecast period. Network devices are endpoints that are connected remotely, forms the entry point for probable cyber threats. The revenue generated by the Endpoint Security segment is attributed to the fact that, with the help of this type of security continuous real-time threat prevention, detection can be provided that helps in resolving the issue of cyber threat.

In the context of the Service Type, the Threat Detection segment held the largest market share of 38.0% in 2018, with a growth rate of 30.7% during the forecast period. The market dominance of the segment is resultant of rising emphasis on preventing data theft among various end-users and effectiveness of this service in analyzing collected forensic data to identify, monitor, and manage security threats.

In regards to the End-user, the Banking, Financial Services, and Insurance segment held the largest market share of 26.0% in 2018, with a growth rate of 30.8% during the forecast period. The sector being highly vulnerable to data breaches, security threats, and high cost of every stolen record in data breaches, propels the incorporation of the service.

In context to region, Asia Pacific is projected to witness the fastest growth rate of 31.6% during the forecast period, which is expected to occupy 26.9% of the market by 2026. The growth rate experienced by the region is attributed to its digital transformation, well-developed cloud infrastructure, and government initiatives like Digital India.

The competitive analysis includes:
Company Profiles
Product Portfolios
SWOT Analysis
Porter’s Five Forces Analysis
Sales, Revenue, Price and Gross Margin
Market Share

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Objectives of the Managed Detection and Response (MDR) market study:
A detailed examination of emerging sectors and strategies, along with the growth & penetration status of the Managed Detection and Response (MDR) market
COVID-19 Impact Analysis, highlighting emerging opportunities and major challenges
Profile leading players in the Global Managed Detection and Response (MDR) Market with an in-depth Market Share Analysis
Analysis of strategic initiatives undertaken by leading companies including, mergers & acquisitions, collaborations, partnerships, and joint ventures in the Global Managed Detection and Response (MDR) Industry to fortify their market presence
Give strategic recommendations to help readers formulate lucrative strategies
Identify emerging players and decipher tactical approaches that will help them get ahead in the competition
Study product portfolios of major players and regional presence

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