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Extended Detection and Response Market is expected to reach US$ 8.21 billion by 2030

The extended detection and response market size is likely to reach US$ 8.21 billion by 2030. Insights on Deployment & Component.

By The Insight Partners

Increasing Adoption of Managed XDR to Provide Opportunities for Extended Detection and Response Market Growth During 2022–2030

According to our latest market study on “Extended Detection and Response Market Forecast to 2030, Global and Regional Share, Trends, and Growth Opportunity Analysis – by Component, Deployment, Enterprise Size, and Industry Vertical,” the extended detection and response market size is expected to grow from US$ 1.62 billion in 2022 to US$ 8.21 billion by 2030; it is estimated to record a CAGR of 22.4% from 2022 to 2030.

Managed XDR refers to a service model that provides a subscription-based XDR capability delivered by a third-party provider. Organizations looking to add XDR value to their current security teams and solutions will find managed XDR solutions appealing. Organizations using Managed XDR (MXDR) solutions can benefit from lower complexity, cost, and risk associated with outsourcing in addition to the advantages of XDR such as enhanced visibility, detection, and reaction. In order to improve security results, managed XDR solutions will also give users access to professional advice, best practices, and threat intelligence. In addition, key companies in the market are increasingly engaging themselves in various strategic decisions such as product launches and partnerships. In June 2023, Critical Start announced the launch of its new managed XDR offering, which unifies Critical Start's award-winning MDR service with a cloud-delivered collection, storage, and search platform for security-relevant log sources. In April 2023, CrowdStrike introduced CrowdStrike Falcon Complete XDR, a new MXDR service. CrowdStrike Falcon Complete XDR unifies human expertise with AI-powered automation and threat intelligence across security and IT categories to operationalize XDR for customers of any security maturity. In August 2021, Optiv Security announced the launch of its  MXDR offering at Black Hat USA 2021. In addition, in December 2023, BlackBerry Limited announced an update to its BlackBerry Guard MDR service to deliver MXDR service. Thus, increasing adoption of MXDR would provide lucrative opportunities for the players operating in the extended detection and response market growth in the coming years.

Extended Detection and Response Market Analysis— by Geography, 2022 to 2030

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00038950

Source: The Insight Partners Analysis

Broadcom Inc.; Bitdefender; Cybereason; Cynet Security, LTD.; Microsoft;  Palo Alto Networks; SentinelOne; Sophos Ltd; Cisco Systems, Inc.; and Trend Micro Incorporated are among the key players profiled in the extended detection and response market report. Several other major extended detection and response market trends by key players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The extended detection and response market report provides detailed market insights, which help the key players strategize their growth. The extended detection and response market forecast can help stakeholders in this marketplace plan their growth strategies

The North America extended detection and response market was valued at US$ 0.6 billion in 2022 and is projected to reach US$ 2.8 billion by 2030; it is anticipated to record a CAGR of 21.3% during the forecast period. North America is one of the fastest-growing regions in terms of technological innovations and advanced technology adoption. In the past three years, the region has witnessed huge adoption of emerging technologies such as blockchain, artificial intelligence (AI), and machine learning (ML) across all major industry verticals. The North America extended detection and response market trends includes, increasing penetration of digitization in various industries and rising number of cyberattacks. With such factors extended detection and response have become a vital component of business.

The North America market is segmented into the US, Canada, and Mexico. The US is expected to hold highest extended detection and response market share and record the highest CAGR during the forecast period in the North America extended detection and response market. The high rate of digitization in various industries and the rising number of cyberattacks in the US fuel the growth of the extended detection and response market in the country. According to estimates by AAG, in the first half of 2022, 53.35 million citizens of the US were affected by cybercrime. The US was the most targeted country for cyber-attacks between July 2020 and June 2021, accounting for 46% of attacks globally. The US citizens lost US$ 6.9 billion in 2021 to cyber-related crimes, including romance scams (US$ 956 million), investment scams (US$ 1.4 billion), and business email compromise (US$ 2.39 billion). Moreover, the US has a large number of extended detection and response market players who have been increasingly focusing on developing innovative solutions. A few of the key players in the extended detection and response market analysis in are Microsoft; Cisco Systems, Inc.; Palo Alto Networks; SentinelOne; and Broadcom Inc. Thus, all these factors contribute to the extended detection and response market share of the region.

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