The increasing penetration of IoT in the operation of different industries and the elevating number of cyber-attacks are some of the factors boosting the Managed Detection and Response (MDR) market.
Market Size – USD 974.9 Million in 2020, Market Growth – CAGR of 28.00%, Market Trends –The rising incorporation of MDR in SMEs.
The Global Managed Detection and Response (MDR) market is forecast to reach USD 7,256.4 Million by 2028, according to a new report by Reports and Data. MDR can be considered as an outsourced service that provides threat responding and identifying services to organizations, once any threat is discovered. Various factors are supporting the growth of the market. The fact that, in 2016, 2 million cybersecurity positions were unfilled, which is expected to increase to elevate to 3.5 million by 2021, clearly establishes the need for the right cybersecurity personnel in a large number of organizations. The fact mentioned above holds a major scope for expansion of the market. MDR addresses significant issues that adversely impact modern businesses.
It can be resolved with MDR as it is an outsourced service. In regards to region, Europe occupies a dominant market position. The market position held by the region is resultant of rising dependency on electronic networks, its continuous focus on cybercrime and establishing European Cybercrime Centre that emphasizes on law enforcement that positively impacts the demand for the service in this region.
Key participants include IBM, Bae Systems, Fireeye, Kudelski Security, Optiv Security, Arctic Wolf Networks, Paladion, Rapid7, Watchguard, and Redscan.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented the global managed detection and response market based on Security Type, Organization Size, Service Type, Deployment, End-user, and region:
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/managed-detection-and-response-mdr-market
Security Type Outlook (Revenue, USD Million; 2020-2028)
Organization Size Type Outlook (Revenue, USD Million; 2020-2028)
Service Type Outlook (Revenue, USD Million; 2020-2028)
Deployment Type Outlook (Revenue, USD Million; 2020-2028)
End-user Type Outlook (Revenue, USD Million; 2020-2028)
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Regional Outlook (Revenue, USD Million; 2020-2028)
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