The global managed detection and response (MDR) market size is expected to reach USD 8.67 billion by 2030, according to a new study by Polaris Market Research. The report “Managed Detection and Response (MDR) Market Share, Size, Trends, Industry Analysis Report, By Deployment (Cloud, On-premises); By Security; By Organization Size; By Industry Vertical; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth of the global managed detection and response market is primarily driven by the increased application of MDR solutions in the BFSI sector. Increasing regulations, rules, and processes governing several aspects of data security, company licensing, and deployment of solutions have boosted the growth of this industry.
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In addition, government regulations associated with the leak of customer information and offering enhanced security are expected to protect critical business information and take strict actions against any data theft.
Key players operating in the industry are facing less negative impact from the COVID-19 outbreak as compared to most industries. The demand for the industry has increased with cyber threats on the rise amid the COVID-19 pandemic and greater risk to organizations and enterprises.
The outbreak of COVID-19 has positively influenced the growth of the industry. These opportunities include a surge in demand for cloud-based managed detection and response solution in enterprises owing to remote work. It has also altered how businesses handle their processes safely and securely. Data storage capabilities are being shifted to the cloud on account of greater safety and convenience to users.
In North America, businesses are investing in emerging technologies to streamline work processes. Furthermore, the rise in the use of these solutions in BFSI and government sectors for improved data security and superior performance & efficiency drives the growth of the industry in the region. Developed IT infrastructure in this region propels the adoption of a cloud-based solution, which further drives the growth of the industry.
Managed Detection and Response (MDR) Market Report Highlights
Polaris Market Research has segmented the Managed Detection and Response (MDR) market report based on security, deployment, organization size, industry vertical, and region:
Managed Detection and Response (MDR), Security Outlook (Revenue - USD Billion, 2018 - 2030)
Managed Detection and Response (MDR), Deployment Outlook (Revenue - USD Billion, 2018 - 2030)
Managed Detection and Response (MDR), Organization Size Outlook (Revenue - USD Billion, 2018 - 2030)
Managed Detection and Response (MDR), Industry Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Managed Detection and Response (MDR), Regional Outlook (Revenue - USD Billion, 2018 - 2030)