Extended Detection and Response Market by Component (Solutions and Services), Deployment Mode (Cloud and On-premises), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, Government, Retail and eCommerce) and Region – Global Forecast to 2027
Northbrook, IL 60062 — (SBWIRE) — 01/24/2023 — The global Extended Detection and Response Market size is projected to grow from USD 985 million in 2022 to USD 2,358 million by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% during the forecast period, according to a research report published by MarketsandMarkets.
The growing scale of cyberattacks has heightened the need for XDR solutions. Organizations are increasingly transitioning for point solutions to XDR solution as XDR provides visibility across many important data sources including endpoint, network, cloud, email, identity, IoT/OT, and others to find and respond to threats often missed by?individual?point solutions.
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By component, the services segment to register the highest growth rate during the forecast period
Based on offerings, XDR services have witnessed a growing demand in recent years. The services include the support offered by security vendors to assist their customers in using and maintaining XDR efficiently. The services segment has witnessed tremendous growth in recent years. Both SMEs and large enterprises are increasingly relying on XDR providers to better respond to cybersecurity incidents. Financial services, healthcare, and eCommerce verticals have witnessed huge data losses due to security breaches. Hence, they are highly dependent on XDR for strengthening their cybersecurity capabilities. Employees are also adapting to new working practices by using VPN services, thus making their systems more vulnerable to attacks. With the ongoing scenario of rising attacks, organizations are deploying XDR to better protect their security infrastructure worldwide.
Based on deployment mode, the cloud segment to grow at the highest CAGR during the forecast period
The cloud deployment offers increased scalability, speed, 24/7 support services, and improved IT security. The demand for SaaS-based security solutions is rapidly increasing, as the central delivery model meets the IT security needs. Owing to the increasing number of applications being deployed on the hosted provider’s data centers, there is a shift from traditional on-premises XDR services to hosted XDR services across large enterprises and SMEs. Some of the key vendors offering on-premises and cloud XDR deployment modes are Secureworks, IBM, Trellix, Cisco, and eSentire.
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North America to hold the largest market share during the forecast period.
North America is estimated to account for the highest market share in the XDR market. The threat landscape is continuously evolving across the globe to combat cyber threats and protect critical data and information from cyberattacks are expected to drive the XDR market in North America. North America is the most affected region in the world by cybersecurity breaches; as a result, it has the largest number of XDR providers. As the world is moving toward interconnections and digitalization, protecting enterprise-critical infrastructure and sensitive data has become one of the major challenges. This region is the most advanced in terms of the adoption of security solutions, services, and infrastructure.
Key and innovative vendors in extended detection and response market include Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US), LMNTRIX (US), Hunters (Israel), and Confluera (US).
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