Managed Detection And Response Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Managed Detection And Response Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $7.75 billion In 2028 At A CAGR Of 19.3% :

The managed detection and response market size has grown rapidly in recent years. It will grow from $2.54 billion in 2023 to $3.01 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to demand for customization and flexibility, vendor consolidation, cost-effectiveness, incident response efficiency, shift to cloud and remote work.

The managed detection and response market size is expected to see rapid growth in the next few years. It will grow to $6 billion in 2028 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to market competition & consolidation, value proposition, emphasis on rapid response, expansion of remote work, talent shortage in security. Major trends in the forecast period include resilience and incident response, user behavior analytics (uba), managed security service providers (mssps), threat intelligence integration, iot and endpoint security.

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Managed Detection And Response Market Major Segments
The managed detection and response market covered in this report is segmented -

1) By Service Type: Retained Incident Response, Threat Detection, Protective Monitoring, Other Service Types
2) By Security Type: Network Security, Endpoint Security, Cloud Security, Application Security, Other Securities
3) By Deployment: On-Premises, Cloud
4) By Organization Size: SMEs, Large Enterprises
5) By Industry Vertical: Banking, Financial Service and Insurance (BFSI), IT and Telecommunications, Government and Defense, Energy and Utilities, Other Industry Verticals

Key Driver - Rising Cybersecurity Concerns Propel Growth In The Managed Detection And Response Market

Growing concerns about cyber-attacks and threats targeting enterprises are expected to propel the growth of the managed detection and response market going forward. A cyber attack is an attempt to illegally access a computer system or a computer network to cause damage. Managed detection and response is a managed cyber security system that detects malicious network activities and malware invasions and allows quick incident response to quickly remove those threats. For instance, in September 2023, AAG, a provider of IT support services, reported that 39% of UK companies stated that they had experienced a cyber-attack in 2022. Furthermore, in the first half of 2022, cybercrime had an impact on 53.35 million US individuals. Therefore, the growing concerns of cyber-attacks and threats targeting enterprises are driving the growth of the managed detection and response market.

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Prominent Trend - Innovative Technological Advancements Drive Growth In The Managed Detection And Response Market

Technological development is a key trend gaining popularity in the managed detection and response market. Major companies operating in the managed detection and response market are focused on developing new technological solutions to meet customer demand. For instance, in August 2021, Arctic Wolf Networks, a US-based company that is operating in managed detection and response company, launched a new breakthrough technological features, cloud security posture management (CSPM). It is especially intended to aid organisations that use hybrid working models by improving their threat awareness and data gathering skills across all attack surfaces such as cloud, endpoints, network, authentication, and humans. Arctic Wolf Managed Risk's new Cloud Security Posture Management (CSPM) is assigned to measure how a cloud environment compares to commonly used cloud configuration benchmarks.

Managed Detection And Response Market Players
Major companies operating in the managed detection and response market report are CrowdStrike Holdings Inc., Rapid7, Red Canary Inc., Arctic Wolf Networks, Kudelski Security, SentinelOne Inc., Proficio, Expel Inc., Secureworks Inc., Alert Logic, Esentire Inc., BAE Systems, FireEye Inc., Cisco Systems Inc., Trustwave Holdings, Mandiant, Binary Defense, Sophos Group plc, Ackcent Cybersecurity, ActZero.ai, Aiuken Cybersecurity, GoSecure Inc., Ingalls Managed Detection and Response, IntelliGO Networks Inc., IronNet Cyber Operations Center, Open Systems AG, Optiv Security Inc., Raytheon Technologies Corporation, Cybereason, Cysiv Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the managed detection and response market in 2023. The regions covered in the managed detection and response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Managed Detection And Response Market Report Structure
3. Managed Detection And Response Market Trends And Strategies
4. Managed Detection And Response Market - Macro Economic Scenario
5. Managed Detection And Response Market Size And Growth
…..
27. Managed Detection And Response Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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