Managed Detection and Response (MDR) Market Size to Reach USD 21.93 Billion in 2030 | Emergen Research

VANCOUVER, BC, Jan. 11, 2023 /PRNewswire/ -- The Managed Detection and Response (MDR) market size reached USD 4.90 Billion in 2021 and is expected to register a CAGR of 18.1% during the forecast period, according to latest analysis by Emergen Research. Technological development and rising IoT use is the key factor expected to drive the revenue growth of the market.

MDR providers are expected to increasingly use artificial intelligence (AI) and machine learning (ML) to improve the accuracy and speed of threat detection and response. These technologies can help MDR providers to analyze large volumes of data in real-time and can improve the efficiency and effectiveness of MDR services. As a result, MDR providers that invest in these technologies are likely to see an increase in revenue.

The increasing use of IoT devices is expected to drive the demand for MDR services, as these devices can be vulnerable to cyber threats. MDR services can help organizations to monitor and protect their IoT devices and can provide valuable visibility and control over the security posture of an organization. As a result, MDR providers that offer specialized services for protecting IoT devices are likely to see an increase in revenue.

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Drivers:

The growing concern about cybersecurity threats is expected to drive the demand for MDR services, as more organizations seek to protect their networks and systems from a wide range of threats, including malware, ransomware, phishing attacks, and more. As a result, MDR providers that are able to offer effective and reliable threat detection and response services are expected to see an increase in revenue. MDR services can provide organizations with real-time threat detection and response capabilities, helping them to identify and mitigate security threats.

Limited in-house resources can be a driver of the revenue growth of the managed detection and response (MDR) market. Some organizations may not have the in-house expertise or resources to effectively manage their security operations and may turn to MDR services to provide the security expertise and support they need. By outsourcing their security operations to an MDR provider, organizations can save on the costs of hiring and training staff and can benefit from the economies of scale offered by the MDR provider. In addition, MDR services can provide organizations with access to trained security experts who can help to monitor and protect their networks and systems and can provide valuable visibility and control over the security posture of an organization.

Restraints:

One potential factor that could restrain the revenue growth of the managed detection and response (MDR) market is the data security risk associated with outsourcing to an MDR service provider. MDR providers need access to private information within and outside of a network in order to effectively identify cyberattacks. This could be a concern for publicly listed organizations, as a leak of confidential corporate information could potentially impact stock prices. Additionally, outsourcing cyber security can expose an organization's vulnerabilities and critical consumer data to a third party, which could raise concerns about the perceived safety of the company among customers. As a result, organizations may be hesitant to outsource their security operations to MDR providers due to concerns about data security and privacy.

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Growth Projections:

The Managed Detection and Response (MDR) market is expected to register a CAGR of 18.1% over the forecast period and revenue is projected to increase from USD 4.90 Billion in 2021 to USD 21.93 Billion in 2030.

Current Trends and Innovations:

MDR providers are increasingly specializing in specific industries or types of threats, in order to provide more targeted and effective services to their customers. For example, some MDR providers may specialize in protecting healthcare organizations, while others may focus on financial services or the IoT.

MDR providers are developing integrations with other security tools, such as firewalls, intrusion prevention systems, and SIEM systems, in order to provide a more comprehensive view of an organization's security posture. Some MDR providers are developing automated response and remediation capabilities, which can help to minimize the impact of security incidents and reduce the workload of security teams. MDR providers are increasingly offering cloud-based MDR services, which can be more cost-effective and scalable than on-premise solutions.

Strategic Initiatives:

Major companies included in the market report are Accenture, IBM, Cisco Systems, Inc., Arctic Wolf Networks Inc., CrowdStrike Holdings, Inc., eSentire, Inc, FireEye, Raytheon Technologies Corporation, Rapid7, and IronNet, Inc.

• On 01 December 2022, Sophos, a worldwide leader in cybersecurity as a service innovation and delivery, announced the general availability of Sophos Managed Detection and Response (MDR), which includes new industry-first threat detection and response capabilities. Sophos is the first endpoint security company to include vendor-agnostic telemetry from third-party security solutions in its MDR offering, resulting in exceptional visibility and detection across a wide range of operating scenarios. In addition, Sophos launched the Sophos Marketplace and a USD 1 million Sophos Breach Protection Warranty.

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Scope of Research

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Emergen Research has segmented the global Managed Detection and Response (MDR) market on the basis of security type, deployment, application, organization size, service, and region:

• Security Type Outlook (Revenue, USD Billion; 2019-2030)
• Network Security
• Endpoint Security
• Cloud Security
• Application Security
• Others
• Deployment Outlook (Revenue, USD Billion; 2019-2030)
• Cloud
• On-premise
• Application Outlook (Revenue, USD Billion; 2019-2030)
• Banking, Financial Service and Insurance
• Education and Training
• Aerospace and Defense
• Automotive
• Manufacturing
• Healthcare
• Government
• Retail
• IT & ITeS
• Others
• Organization size Outlook (Revenue, USD Billion; 2019-2030)
• Small & Medium Size Enterprises
• Large Enterprises
• Service Outlook (Revenue, USD Billion; 2019-2030)
• Threat Detection
• Threat Monitoring
• Incident Response/Termination

• Regional Outlook (Revenue, USD Billion; 2019–2030)
• North America
•  U.S.
•  Canada
•  Mexico
• Europe
•  Germany
•  France
•  U.K.
•  Italy
•  Spain
•  Benelux
•  Rest of Europe
• Asia Pacific
•  China
•  India
•  Japan
•  South Korea
•  Rest of APAC
• Latin America
•  Brazil
•  Rest of LATAM
• Middle East & Africa
•  Saudi Arabia
• UAE
•  South Africa
•  Turkey
•  Rest of MEA

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