Some of the factors that are driving the market growth includes addressing of shortage of skilled cybersecurity professionals and budget constraints, government regulations, and strict compliance for adoption of MDR services across the segments.
New York, May 31, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Managed Detection and Response Market by Security Type, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05222513/?utm_source=GNW
However, lack of trust in third-party applications and lack of modern IT infrastructure are expected to hinder the market growth.
Endpoint Security segment to hold a larger market size during the forecast period
Based on security type, the MDR market is segmented into endpoint security, network security, cloud security, and other security types.Endpoint security solutions include antivirus, antispyware/malware, encryption personal firewall, IDS/IPS, patch and configuration management, behavioral blocking software, and virtualization security.
These solutions provide continuous real-time threat detection, prevention, and response to the network devices (endpoints).The rapid growth in the number of mobile devices across the globe is one of the driving factors for this market.
Due to the increasing number of mobile devices, networks are getting more vulnerable to cyberattacks.
SMEs to grow at a highest CAGR during the forecast period
Based on organization size, the MDR market is segmented into two categories such as large enterprises and SMEs.SMEs are more susceptible to such cyberattacks as robust and comprehensive security solutions are not implemented in SMEs due to financial constraints.
SMEs are moving toward the adoption of MDR services as MDR services are one of the best approaches to protect business operations from advanced threats. The MDR market for the SMEs segment is expected to grow at a higher CAGR due to the increasing instances of cyberattacks and the inability of the traditional security services to prevent such attacks.
Asia Pacific to grow at the highest CAGR during the forecast period
Tremendous growth opportunities in Asia Pacific region has been witnessed by MDR market.The region is highly concerned with the increase in security spending due to the ever-growing threat landscape.
The region has a large number of established SMEs.The majority of SMEs have a traditional defense mechanism.
This has led to the increase in the adoption of MDR services to protect against advanced and sophisticated threats that are hard to be detected. Moreover, increasing operational complexities and organizations lacking cybersecurity talent has paved the way for MDR market in Asia Pacific.
Breakdown of primaries:
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the SOC as a Service market.
• By company type: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%
• By designation: C-level: 60%, D-level: 25% and Other: 15%
• By region: North America: 35%, Europe: 25%, APAC: 15%, MEA: 15%, Latin America: 10%
Major vendors in the global MDR market include CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US), Kudelski Security (Switzerland), SentinelOne (US), Proficio (US), Expel (US), Secureworks (US), Alert Logic (US), Trustwave (US), Mandiant (US), Binary Defense (US), Sophos (UK), Esentire (Canada), Deepwatch (US), Netsurion (US), Gosecure (US), LMNTRIX (US), Underdefense (US), Ackcent (Spain), Cybereason (US), Critical Start (US), Cysiv (US), and Critical Insight (US).
The study includes an in-depth competitive analysis of the key players in the MDR market, with their company profiles, recent developments, and key market strategies.
The report segment the MDR market and forecast its size, by security type(network security, endpoint security, cloud security other security types), organization size (SMEs, large enterprises), deployment mode (On-premises, cloud), vertical (BFSI, healthcare, government, IT and ITeS, manufacturing, energy & utilities, retail, and other verticals) and by region (North America, Europe, Asia Pacific, MEA, and Latin America).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall MDR market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05222513/?utm_source=GNW
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