Managed Detection and Response (MDR) Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2028

Managed Detection and Response (MDR) Market by Security Type (Network, Endpoint, Cloud), Deployment Mode (On-Premises and Cloud), Organization Size (SMEs and Large Enterprises), Vertical and Region - Global Forecast to 2028
The global Managed Detection and Response Market [https://www.marketsandmarkets.com/Market-Reports/managed-detection-and-response-market-168039027.html?utm_source=referral&utm_medium=abnewswire&utm_campaign=paidpr] size is projected to grow from USD 3.3 billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period. The expansion of the MDR market is being propelled by the rise in incidents involving business email compromise, ransomware, and crypto-jacking threats that have heightened the demand for robust MDR services which can effectively combat these evolving risks. Furthermore, the pressing need to bridge the cybersecurity skills gap and manage overwhelming alert volumes has prompted organizations to adopt MDR solutions, leveraging specialized expertise and advanced tools.

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Government regulations and the imperative for compliance have also played a significant role in driving the adoption of MDR services, as businesses strive to meet security requirements and protect sensitive data. Additionally, the rapid proliferation of technology, particularly the increasing penetration of IoT, has expanded the attack surface, necessitating the implementation of MDR solutions to proactively detect and respond to emerging threats. Together, these factors form a powerful force behind the growth and advancement of the MDR market.

Based on the deployment type, the cloud segment is to grow at the highest CAGR during the forecasted period

The MDR market is divided into on-premises and cloud deployment modes. Amongst them, the cloud deployment mode has the highest CAGR due to its scalability, cost-effectiveness, rapid deployment, remote monitoring capabilities, advanced analytics, and integration opportunities. Additionally, it allows organizations to easily adjust resources, reduce upfront investments, quickly implement services, monitor incidents remotely, leverage advanced technologies, and integrate with other security tools, driving its growth in the market. Thus, the cloud deployment mode accounts for the highest CAGR during the forecasted period.

By organization size, SMEs to hold a larger market size during the forecast period

The organization size in the MDR market is segmented into large enterprises and SMEs. Amongst them, SMEs contribute to a larger market size due to increasing cyber threats targeting them, they have limited internal resources for cybersecurity, and they are increasingly subjected to compliance regulations and standards. Also, MDR services offer a cost-effective approach for SMEs compared to building and maintaining an in-house security operations center, focusing on core competencies, and scalability to accommodate business growth. Additionally, MDR provides SMEs with access to expert security services, advanced tools, and compliance support, allowing them to enhance their cybersecurity posture effectively. Thus, the SMEs segment holds a larger market size during the forecast period.

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What is MDR?

MDR is a specialized service where organizations outsource their threat-hunting and response activities. It involves a vital human element as security providers provide access to a team of skilled security researchers and engineers responsible for actively monitoring networks, analyzing incidents, and promptly responding to security cases. This collaborative approach allows organizations to benefit from the expertise and resources of the MDR service provider, ensuring efficient threat detection and effective response measures. By leveraging this outsourced service, organizations can enhance their security capabilities and focus on their core business activities, while relying on dedicated professionals to safeguard their networks and promptly address emerging threats.

Unique Features in the Managed Detection and Response (MDR) Market

MDR services provide real-time threat detection and response capabilities by continuously monitoring networks, endpoints, and cloud environments for potential security threats.

To improve the security posture of the company, MDR providers engage in proactive threat hunting operations to find and eliminate sophisticated threats that might elude conventional defences.

MDR solutions use sophisticated analytics methods to find aberrant activity and indicators of compromise (IoCs) within the IT system. Examples of these methods include machine learning and behavioural analytics.

In order to properly analyse and respond to security issues, MDR services integrate automated technologies with human experience from security analysts and incident responders. This results in a better level of threat detection and response capabilities.

In order to minimise the impact on business operations and lower the risk of data breaches, MDR providers assist organisations in quickly containing, mitigating, and recovering from security incidents.

Major Highlights of the Managed Detection and Response (MDR) Market

In order to improve threat detection accuracy and efficiency and spur market innovation, MDR providers are investing in sophisticated threat intelligence and analytics capabilities. They are doing this by utilising machine learning, artificial intelligence, and big data analytics.

As larger security companies look to extend their offers and capabilities to match the increased demand for managed security services, the MDR market is seeing consolidation through mergers and acquisitions.

MDR suppliers cater to the various demands of enterprises functioning in hybrid IT environments by providing hybrid deployment methods that blend on-premises and cloud-based security solutions.

MDR solutions provide customisable service levels and deployment options suited to the unique security requirements of the organisation, allowing them to be scaled and flexible enough to fit organisations of all sizes and industries.

Through continuous monitoring, threat identification, and incident response capabilities, MDR services help organisations achieve and maintain compliance with industry standards and regulatory obligations.

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Competitive overview:

The MDR market is led by some of the globally established players, such as CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US), Kudelski Security (Switzerland), Mandiant (US), SentinelOne (US), Proficio (US), Expel (US), Secureworks (US), Alert Logic (US). Partnerships, agreements, collaborations, acquisitions, and product developments are some of the various growth strategies by these players to increase their market presence.

Rapid7 (US) is a prominent provider of security data and analytics solutions, catering to various industries such as energy, financial services, government, education, retail, and healthcare. The company offers a comprehensive suite of products, including vulnerability management, application security testing, orchestration, and log management. Additionally, Rapid7 provides professional services to assist organizations in securing their systems against advanced persistent threats (APTs) and vulnerabilities. Their MDR service, available in two tiers (Essentials and Elite), offers features such as dedicated security advisors, 24/7 monitoring, real-time incident detection and validation, proactive threat hunting, and access to their cloud-based XDR offering, Insight DR. Rapid7's expertise and wide customer base, which includes Fortune 100 companies, have earned them recognition as a Strong Performer in Forrester's MDR Providers report.

Through collaborations and acquisitions, the firm has grown its portfolio and presence in the MDR market with companies, such as Minerva Labs (Israel), AWS (US), IntSight (US), and Snyk (US).

Kudelski Security (Switzerland) is an independent Swiss provider of customized cybersecurity solutions and services to enterprises, financial institutions, government administrations, defense, and the media industry. They have established themselves as a leading Managed Security Service Provider (MSSP) and offer personalized MDR services. Kudelski Security's ability to tailor their services to clients, acting either as their entire detection and response team or as a first responder before collaborating with client teams is keeping them apart from their counterparts. The company serves a diverse range of industries, including healthcare, financial services, government, manufacturing, technology, and media and entertainment. With a global presence, Kudelski Security has gained recognition in the industry and has been honoured as a top MSSP and a finalist for Best Managed Security Service Offering in the prestigious SC Awards Europe.

Apart from large vendors, some other players, such as Trustwave, Mandiant, Binary Defense, Sophos, eSentire, Deepwatch, Netsurion, GoSecure, LMNTRIX, UnderDefense, Ackcent, Cybereason, Critical Start, Cysiv, and Critical Insight are also evolving in the MDR market.

Mandiant (US) which has become a part of Google Cloud, provides advanced cybersecurity solutions through its Mandiant Advantage SaaS platform. The company's Managed Defense service offers comprehensive MDR solutions, including 24/7 monitoring, threat hunting, and rapid response across multiple technologies. With a focus on government, finance, healthcare, energy, retail, and technology industries, Mandiant caters to diverse sectors. The recent acquisition by Google enables the integration of Mandiant's cyber threat intelligence with Google Cloud's security portfolio, offering enterprises a robust security operations suite to enhance their protection.

According to MnM's approach to evaluating the market, most businesses use inorganic growth tactics to hold onto their market share. In 2020-2021, the number of transactions rose by 50-60%. These agreements cover alliances, acquisitions, collaborations, and partnerships together. Product launches and corporate growth activities abruptly decreased because of the COVID-19 pandemic. On the other hand, organizations are anticipated to embrace organic growth strategies starting in 2021 to provide end consumers with MDR solutions and services, which would assist businesses in boosting market revenue.

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