Managed Detection and Response Global Market Report 2024

The global managed detection and response market 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 observed in the historical period can be attributed to several factors, including increased demand for customization and flexibility in services, a trend towards vendor consolidation for efficiency, cost-effectiveness measures, improved incident response efficiency, and the significant shift towards cloud-based services and remote work setups.

The global managed detection and response market 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%. Anticipated growth in the upcoming period is linked to market competition and consolidation, the strengthening of value propositions, a heightened emphasis on rapid response capabilities, the continued expansion of remote work setups, and challenges stemming from a shortage of talent in the security sector. Key trends expected in this forecast period encompass a focus on resilience and incident response strategies, the adoption of user behavior analytics (UBA), increased reliance on managed security service providers (MSSPs), integration of threat intelligence, and the prioritization of security measures for IoT and endpoint devices.

The surge in concerns surrounding cyber-attacks targeting enterprises is anticipated to drive the managed detection and response (MDR) market's growth trajectory. Cyber attacks, seeking unauthorized access to computer systems or networks for malicious intent, have propelled the need for managed cybersecurity systems like MDR. This service promptly identifies malevolent network activities and malware intrusions, enabling swift incident response. For instance, AAG's report in September 2023 highlighted that 39% of UK companies encountered cyber-attacks in 2022, while cybercrime impacted 53.35 million US individuals in the first half of 2022, emphasizing the imperative role of MDR in countering such threats and fostering market growth.

The upward trend in remote work arrangements is poised to significantly impact the expansion of the managed detection and response market. Remote work, a prevalent practice where employees perform tasks from locations beyond traditional workplaces, has introduced a complex cybersecurity landscape. Managed detection and response services emerge as pivotal solutions, offering adaptive security measures to address these evolving challenges. Statistics from the United States Census Bureau in September 2022 revealed substantial remote work engagement in regions like the District of Columbia (48.3%), Washington (24.2%), Maryland (24.0%), Colorado (23.7%), and Massachusetts (23.7%) in 2021. This surge in remote work dynamics fuels the demand for MDR solutions, driving market growth.

Technological advancements represent a prominent trend shaping the managed detection and response market. Key players in this domain prioritize developing cutting-edge solutions to meet evolving customer needs. For instance, Arctic Wolf Networks' launch of Cloud Security Posture Management (CSPM) in August 2021 aimed to augment threat awareness and data collection capabilities across multiple attack surfaces, benefiting organizations employing hybrid work models. This proactive technological innovation aligns with the market's progression toward more comprehensive security solutions.

Major players in the managed detection and response market are innovating with products like managed detection and response services to expand their customer base, bolster sales, and drive revenue growth. This service, offering continuous real-time monitoring, detection, and response to potential cyber threats, exemplifies this innovation. For instance, International Business Machines Corporation introduced Threat Detection and Response Services (TDR) in October 2023. Uniquely, TDR delivers round-the-clock monitoring, investigation, and automated mitigation of security alerts across diverse technologies within hybrid cloud environments. Leveraging AI-powered security technologies, it adapts and learns from real-world data, autonomously resolving lower-priority alerts while promptly escalating high-risk ones. This advancement caters to a global clientele, ensuring enhanced security measures and fostering market growth.

In July 2022, Agileblue, a prominent US-based Cyber Security Operations Center (SOC) and extended Detection and Response (XDR) platform, completed the acquisition of Crowe LLP for an undisclosed sum. Through this acquisition, AgileBlue aims to enhance its offerings by providing Crowe's clientele with an expanded suite of cloud-based tools and services, reinforcing their cybersecurity defenses. This integration allows clients access to additional services focused on threat detection and response, data security, and advanced cloud-based technology, enabling the delivery of a dependable, cost-effective, and always-accessible SOC|XDR-as-a-Service. Crowe LLP, a US-based company specializing in managed detection and response, now aligns with AgileBlue to broaden their capabilities in cybersecurity services.

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.

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 countries covered in the managed detection and response market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The spectrum of managed detection and response services include distinctive categories encompass retained incident response, threat detection, protective monitoring, and specialized offerings. Specifically, threat detection involves meticulous analysis of the entire security ecosystem, pinpointing potential malicious activities that pose risks to network integrity. These security measures span diverse types such as network security, endpoint security, cloud security, application security, among others, deployed across both on-premises and cloud infrastructures.Managed detection and response services cater to organizations of varying sizes, including SMEs and large enterprises, operating across multiple sectors. These services find application within sectors like financial services and insurance (BFSI), IT and telecommunications, government and defense, energy and utilities, among others.

This report provides managed detection and response market statistics, including managed detection and response industry global market size, regional shares, competitors with a managed detection and response market share, detailed managed detection and response market segments, market trends and opportunities, and any further data you may need to thrive in the managed detection and response industry. This managed detection and response market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The managed detection and response market includes revenues earned by entities by providing threat intelligence, threat hunting, security monitoring, incident analysis, and incident response. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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