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Extended Detection and Response Market Size to Expand At 13.9% CAGR Through 2032

02-17-2023 10:48 AM CET | IT, New Media & Software

Press release from: Global Insight Services

Extended Detection and Response Market

Extended Detection and Response Market

The global Extended Detection And Response market was valued at USD 1.2 billion in 2022 and it is anticipated to grow up to USD 4.4 billion by 2032, at a CAGR of 13.9% during the forecast period.

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Extended detection and response (EDR) is a security solution that uses advanced detection techniques to identify, investigate, and respond to security incidents. EDR solutions are designed to complement traditional security solutions, such as antivirus and intrusion detection/prevention systems. EDR solutions use a variety of techniques to detect security incidents, including behavioral analytics, machine learning, and heuristics. Once an incident is detected, EDR solutions provide a variety of tools to help security analysts investigate and respond to the incident. These tools may include a searchable database of security events, tools for analyzing network traffic, and tools for creating incident response plans.

Market Trends and Drivers

The increased integration of several software solutions with existing systems and heightened complexities in managing multiple alerts with limited context about the increasing number of security threats cause security teams to lose visibility, hampering business operations. The scenario has led to the emergence of XDR technology, which uses dynamic analytics and machine learning techniques to provide extended visibility, analysis, and response across networks, clouds, and endpoints.

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Over the years, the enhanced visibility and awareness of security threats offered by XDR solutions have led to their increased popularity in the U.S. By integrating XDR solutions, enterprise security analysts can eliminate and target cyber threats based on the severity at which they can impact the organization's IT infrastructure. The rising popularity of XDR solutions has encouraged several cybersecurity vendors in the U.S. to introduce advanced EDR and XDR solutions. For instance, in February 2020, SentinelOne, a U.S.-based cybersecurity solution provider launched an AI-powered XDR solution that offers advanced threat detection and complete visibility across every endpoint device, physical or virtual, on-premise, or on the cloud.

Major Players in the Global Extended Detection And Response Market

The key players in the Extended Detection And Response Market are McAfee, LLC, Trend Micro Incorporated., Microsoft, Palo Alto Networks, Cybereason, Broadcom, Cynet, SentinelOne, Rapid7, and LMNTRIX. among others.

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COVID-19 Impact

Responding to the COVID-19 pandemic remained a major challenge for most security businesses across the world in 2020. The pandemic has refocused the attention of security staff on operational tools and cloud-delivered security tools that do not require a Local Area Network (LAN) connection to function, and the need to migrate to cloud data centers and software as a service (SaaS) applications. This encouraged businesses to adopt XDR solutions to access policies and track threats across the cloud and business networks remotely.

Global Extended Detection And Response Market Segmentation

By Component

Solutions
Services

By Deployment Type

On-premises
Cloud

By Application

Large Enterprises
SMEs

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About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

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