Latest News- Managed Detection And Response Services Market: Large enterprises is expected to lead the End-user segment during 2025-2029

The Managed Detection And Response Services Market is being driven by Focus on outsourcing business-related tasks beyond an organizations competencies

The Managed Detection And Response Services Market is expected to grow at a CAGR of 30.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11042.9 million. User behavior analytics (UBA) is an essential tool utilized by enterprises to derive insights from the multitude of network events generated by users daily. This solution enables organizations to identify lateral movements, compromised credentials, and risky behaviors, including malicious activities that may evade traditional security alerts. Managed detection and response (MDR) service providers are integrating UBA with pre-built detections and intruder traps to enhance their offerings. By doing so, they aim to detect the primary attack vectors behind breaches earlier in the attack chain, thereby strengthening security from the endpoint to the cloud. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Large enterprises
  • Small and medium enterprises
• Deployment
  • Hosted
  • On-premises
• Type
  • Cloud security
  • Network security
  • End-point security
  • Application security
  • Others
  • Application security
• Application
  • BFSI
  • IT and telecommunications
  • Government and defense
  • Energy and utilities
  • Others
• Service Type
  • Retained incident response
  • Threat detection
  • Protective monitoring
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Focus on outsourcing business-related tasks beyond an organizations competencies
• Increase in adoption of hosted services
• Growing demand for integrated security solutions

However, the market also witnesses some limitations, which are as follows:

• Possibilities of failures during implementation
• Issues faced by service providers regarding automation, scalability, and professional expertise
• Reduction in efficiency of systems due to managed detection and response services implementation

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Market Scope in Managed Detection And Response Services Market Research Report

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Research Analysis Overview

The Managed Detection and Response Services (MDR) market is witnessing significant growth due to the surge in ransomware and crypto-jacking incidents. With the increasing complexity of cyber threats, organizations require advanced cybersecurity solutions. MDR providers use detection algorithms, threat intelligence, AI, and ML to identify and respond to security alerts. Government regulations and compliance requirements add to the demand. IT & Telecom and Retail & E-commerce sectors are major consumers. IoT devices pose new challenges, necessitating skilled cybersecurity professionals. MDR services help protect assets from threats, providing security cases for engineers and security researchers.

Market Research Overview

The Managed Detection and Response (MDR) services market is a significant segment within the global IT software industry. This market caters to businesses seeking advanced cybersecurity solutions in response to escalating threats such as ransomware attacks and crypto-jacking incidents. MDR providers offer expertise in identifying and mitigating security alerts, ensuring regulatory compliance, and addressing the skills gap in cybersecurity. With the increasing number of IoT devices and government regulations, the demand for MDR services is expected to grow. The market size is determined by the consolidated revenue generated by companies specializing in security software, providing a comprehensive solution to safeguard organizations against evolving cyber threats.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/