PUBLISHER: KBV Research | PRODUCT CODE: 1529164
PUBLISHER: KBV Research | PRODUCT CODE: 1529164
The Global Identity Threat Detection and Response (ITDR) Market size is expected to reach $49.5 billion by 2031, rising at a market growth of 22.2% CAGR during the forecast period.
Asia Pacific is experiencing rapid digitization, with many organizations adopting digital technologies to improve efficiency and competitiveness. This digitization has increased the need for ITDR solutions to protect against cyber threats. The region has seen a rise in cybercrime, including phishing attacks, malware, and ransomware. Consequently, the Asia Pacific region would acquire nearly 29% of the total market share by 2031.
AI and ML technologies analysis andsystems to perform real-time monitoring, conduct sophisticated behavior analysis, and detect anomalies quickly and accurately. These capabilities are crucial in promptly identifying and responding to identity threats, improving overall cybersecurity resilience. Thus, integrating AI and machine learning technologies into ITDR solutions is a game-changer for cybersecurity.
Additionally, Insider threats emanate from personnel, contractors, or business partners who possess privileged access to confidential data and systems within the organization. Due to the reputational damage, financial losses, and data breaches that can result from these threats, detecting and mitigating them is a global organization priority. Hence, the increasing incidents of insider threats globally highlight the urgent need for effective ITDR solutions.
However, the costs associated with ITDR implementation include expenses for software licensing, hardware procurement, integration with existing systems, and ongoing maintenance and support. The impact of high implementation costs is particularly significant for SMEs, as they often lack larger organizations' financial resources and expertise. Hence, these factors may hamper the growth of the market.
Deployment Mode Outlook
On the basis of deployment mode, the market is classified into on-premise and cloud. The on-premises segment acquired 35% revenue share in the market in 2023. On-premise solutions give organizations greater control over their ITDR infrastructure, as the software and hardware are maintained within the organization's premises.
Offering Outlook
Based on offering, the identity threat detection and response (ITDR) market is characterized into solution and services. The services segment procured 31% revenue share in the market in 2023. ITDR services are often human-centric, involving security professionals who analyze threats, investigate incidents, and respond to security breaches.
Organization Size Outlook
By organization size, the market is divided into large enterprises and SMEs. The SMEs segment witnessed 28.6% revenue share in the market in 2023. ITDR tools for SMEs are often more cost-effective, with lower upfront costs and subscription-based pricing models that can scale with the organization's size.
Vertical Outlook
Based on vertical, the market is segmented into BFSI, retail & e-commerce, government & defense, IT & ITeS, telecommunication, energy & utilities, education, healthcare & lifesciences, and others. The government & defense segment procured 17% revenue share in the market in 2023. The defense sector and government are indispensable to national security. ITDR solutions aid in the protection of infrastructure and sensitive government data from cyber threats.
By Regional Analysis
Region-wise, the identity threat detection, and response (ITDR) market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 38% revenue share in the market in 2023. North America faces a sophisticated and evolving cyber threat landscape, with cybercriminals constantly developing new methods to steal identities and compromise systems.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Identity Threat Detection and Response (ITDR) Market Report Segmentation
By Deployment Mode
By Offering
By Organization Size
By Vertical
By Geography