Managed Detection and Response (MDR) Service Market Revenue, Insights, Overview, Outlook, Analysis | Valuates Reports

Managed Detection and Response (MDR) Service Market Size

The global market for Managed Detection and Response (MDR) Service was valued at US$ 2180 million in the year 2024 and is projected to reach a revised size of US$ 3591 million by 2031, growing at a CAGR of 7.5% during the forecast period.

Managed detection and response (MDR) is a cybersecurity service that combines technology and human expertise to perform threat hunting, monitoring, and response. The main benefit of MDR is that it helps to quickly identify and limit the impact of threats without the need for additional staffing.

Download Free Data: https://reports.valuates.com/request/sample/QYRE-Auto-27Q7400/Global_Managed_Detection_and_Response_MDR_Service_Market?utm_source=Openpr&utm_medium=Referral

Managed Detection and Response (MDR) Service Market Drivers

Limited In-House Expertise: Many organizations lack the necessary in-house cybersecurity expertise required to effectively manage and respond to security incidents. MDR services bridge this gap by providing access to a team of skilled security analysts, who monitor networks 24/7, ensuring that potential threats are identified and mitigated promptly.

Cost Efficiency: Implementing and maintaining an in-house security operation center (SOC) can be cost-prohibitive for many businesses. MDR services offer a cost-effective alternative, allowing organizations to leverage advanced cybersecurity capabilities without the need for significant capital investment in technology and personnel.

Compliance Requirements: Regulatory frameworks such as the General Data Protection Regulation (GDPR), HIPAA, and other industry-specific regulations demand stringent cybersecurity measures. MDR providers assist organizations in adhering to these compliance requirements, reducing the risk of penalties and reputational damage.

Digital Transformation: As businesses continue to adopt digital technologies and cloud-based services, the attack surface expands, creating more opportunities for cybercriminals. MDR services help organizations protect their digital assets, ensuring that the transition to digital platforms is secure and resilient.

Security Operations Center (SOC) Outsourcing: Many organizations are choosing to outsource their SOC functions to MDR providers, which allows them to focus on their core business activities. This trend is driven by the need to reduce operational complexities and enhance the efficiency of security operations.

This report aims to provide a comprehensive presentation of the global market for Managed Detection and Response (MDR) Service, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Managed Detection and Response (MDR) Service.

The Managed Detection and Response (MDR) Service market size, estimations, and forecasts are provided in terms of and revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Managed Detection and Response (MDR) Service market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

By Type
• Cloud Based
• On-premise

By Application
• Large Enterprise
• SME

Key Companies
Sophos, SentinelOne, CrowdStrike, Rapid7, Cisco, Bitdefender, Trustwave, Check Point, NTT, Red Canary, eSentire, SISA, IBM, Cybereason, Fortinet, Arctic Wolf Networks, Critical Start, NCC Group, Deepwatch, WithSecure, Trend Micro, Obrela, N able, Palo Alto Networks, ReliaQuest, ESET, Secureworks

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-27Q7400/global-managed-detection-and-response-mdr-service?utm_source=Openpr&utm_medium=Referral

Email Id:
Please reach us at sales@valuates.com

Address:
Valuates,
4th Floor,
Balaraj's Arcade,
Whitefield Main road,
Bangalore 560066

Valuates offers an extensive collection of market research reports that helps companies to take intelligent strategical decisions based on current and forecasted Market trends.

This release was published on openPR.