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Extended Detection and Response Market
WILMINGTON, DE, UNITED STATES, February 14, 2024 /EINPresswire / -- According to the report published by Allied market Research, the global extended detection and response market generated $980.3 million in 2021, and is expected to reach $6.7 billion by 2031, witnessing a CAGR of 21.5% from 2022 to 2031.
The report offers an extensive analysis of changing market dynamics, top segments, value chain, competitive landscape, and the COVID-19 pandemic impact. This report provides detailed information for market players, stakeholders, investors, and startups in devising strategies for achieving sustainable growth and gaining competitive advantage in the market.
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XDR is an integrated suite of safety tool for IT infrastructure that provides comprehensive threat detection, prevention and response across the cloud, networks, endpoints and servers. XDR offer increased simplicity in scanning the integrated devices to scan for breaches.
Various enterprises are adopting XDR solutions as it increases SOC efficiency by offering security team with a detailed view of detected threats across different data flows and security tools for instance, firewalls, endpoints detection solutions, network detection platforms and cloud security tools. Moreover, XDR provides automation, prioritization, faster detection and better visibility. These factors provide lucrative opportunities for market growth.
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Covid-19 Scenario:
The Covid-19 pandemic impacted the entire business ecosystem across the world owing to lockdown restrictions that led companies to adopt remote working or work from home culture. It positively impacted the adoption of extended detection and response solutions and services, owing to rise in cyber threats on devices. With increasing trend of remote working and work from home culture, the requirement for managed security and extended detection and response surged drastically.
Companies are focusing on adopting emerging technologies such as edge computing, automation, and cloud-based endpoint detection and response across various industries such as BFSI, healthcare, and government. The adoption is aimed to carry out contactless operations safely and securely.
Moreover, local enterprises have been implementing extended detection and response solutions and services for making their operations efficient, scalable, and secure. Moreover, many industries shifted toward digitalization, which, in turn, created the demand for robust and Al-integrated solutions to offer efficiency and real-time reporting features.
Based on region, North America held the largest market share in 2021, accounting for more than two-fifths of the global extended detection and response market, and is estimated to continue its highest contribution throughout the forecast period. This is due to developments in technology and digitalization that led to adoption of extended detection and response solutions to protect critical data of organizations. However, Asia-Pacific is estimated to manifest the largest CAGR of 24.6% from 2022 to 2031. This is owing to increased cyber threats and rapid shift toward cloud-based platforms in this region.
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The services segmented is expected to witness highest growth in upcoming years since it complements software program implementation, maximize cost of existing installation by optimizing it, and minimizes deployment cost & risks, which further fuels increase of the extended detection and response market.
Leading market players of the global extended detection and response market analyzed in the research include BitDefender, Broadcom Corp, Confluera, Cisco Systems Inc., Cynet, Crowstrike, McAfee, BlueShift Technologies, Sophos Group, IBM Corporation, Fortinet Inc., Elastic Inc., Microsoft Corporation, Trend Micro Inc., SentinelOne, and Palo Alto Networks Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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