PUBLISHER: The Business Research Company | PRODUCT CODE: 1465776
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465776
Extended Detection and Response (XDR) refers to a holistic cybersecurity approach that integrates tools and data to improve visibility, analysis, and response capabilities across various endpoints within an organization's digital environment. The primary goal of XDR is to offer organizations a unified and proactive cybersecurity strategy, allowing them to efficiently detect, investigate, and respond to cyber threats. By combining different security tools and data sources, XDR seeks to provide a comprehensive and cohesive defense against evolving and sophisticated cyber threats.
The main component types of Extended Detection and Response (XDR) are solutions and services. XDR solutions refer to integrated cybersecurity platforms that offer comprehensive threat detection, analysis, and response across multiple security layers, enabling a unified approach to cybersecurity. These solutions can be deployed in various modes, including on-premises, cloud-based, and hybrid. XDR is utilized by enterprises, including large enterprises and small and medium enterprises (SMEs), across a range of applications such as banking, financial services and insurance (BFSI), government, manufacturing, energy and utilities, healthcare, information technology (IT), telecommunications, retail, and commerce, among others.
The extended detection and response research report is one of a series of new reports from The Business Research Company that provides extended detection and response market statistics, including the extended detection and response industry's global market size, regional shares, competitors with an extended detection and response market share, detailed extended detection and response market segments, market trends and opportunities, and any further data you may need to thrive in the extended detection and response industry. This extended detection and response market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The extended detection and response market size has grown exponentially in recent years. It will grow from $1.61 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 31.9%. The growth observed in the historical period can be attributed to several factors, including the increasing demand for integrated security platforms, the rise in remote work trends, regulatory compliance requirements, a focus on proactive threat hunting and incident response capabilities, the growing deployment of Extended Detection and Response (XDR) solutions across Small and Medium Enterprises (SMEs), and the expansion of large enterprises requiring advanced security solutions. These factors collectively contributed to the development and adoption of XDR solutions during the historic period.
The extended detection and response market size is expected to see exponential growth in the next few years. It will grow to $6.35 billion in 2028 at a compound annual growth rate (CAGR) of 31.5%. The anticipated growth in the forecast period can be attributed to several factors, including the increasing adoption of cloud-based security solutions, the rising frequency of cyber threats and sophisticated attacks, the utilization of Artificial Intelligence (AI) and machine learning for enhanced threat detection, the expansion of Internet of Things (IoT) devices, and the growing need for Extended Detection and Response (XDR) solutions. Key trends expected in the forecast period include technological advancements in AI and machine learning, a higher deployment of Managed XDR (MXDR) solutions, increased integration with artificial intelligence and machine learning technologies, the convergence of various security technologies, and ongoing innovation in the field of cybersecurity.
The growth of the extended detection and response market is anticipated to be propelled by the increasing prevalence of cyber threats and sophisticated attacks. Cyber threats, which involve malicious activities targeting computer systems, networks, and sensitive data, have become more prominent in the face of evolving technologies that outpace existing security measures. Sophisticated attacks, executed by highly skilled attackers exploiting vulnerabilities, further compound the challenges faced by organizations. Extended detection and response solutions offer a solution to these challenges by providing centralized visibility and correlation of security telemetry from various sources, offering organizations a comprehensive view of their security posture. As per the Department for Science, Innovation, and Technology in the UK, cybercrime affected a significant percentage of businesses and charities in 2022 and 2023, highlighting the urgency for enhanced cybersecurity measures. Consequently, the increasing frequency of cyber threats and sophisticated attacks is a key driver for the extended detection and response market.
Leading companies in the extended detection and response market are directing their efforts towards developing innovative solutions, such as the Trend Vision One platform, to bolster cyber resilience. The Trend Vision One platform incorporates advanced extended detection and response capabilities, facilitating early detection and swift response to cyber threats across diverse environments, including email, network, server, cloud, and IoT. Launched by Trend Micro Inc., a UK-based cyber security software company, the platform introduces the next generation of extended detection and response with correlated detection models, consolidating data from various sources and applying advanced AI and machine learning analytics.
In September 2023, WatchGuard Technologies Inc., a US-based unified cybersecurity service provider, acquired CyGlass Technology Services. This acquisition positions CyGlass technology as an integral part of the WatchGuard Unified Security Platform architecture, accelerating the development of open extended detection and response capabilities within WatchGuard ThreatSync. CyGlass Technology Services, a US-based provider of cloud and network-centric threat detection and response solutions, brings its extended detection and response (XDR) expertise to enhance WatchGuard's unified security offerings.
Major companies operating in the extended detection and response market are Microsoft Corporation, Accenture PLC, Cisco Systems Inc., Ernst & Young Global Limited, Oracle Corporation, Broadcom Inc., Tata Consultancy Services Limited, VMware LLC, Atos SE, Palo Alto Networks Inc., Fortinet Inc., McAfee LLC, Trend Micro Inc., Elasticsearch B.V., Kaspersky Lab Italia Srl, BlackBerry Limited, Cybereason Inc., Sophos LTD., Sentinel Labs Inc., Cynet Security LTD., Fidelis Cybersecurity Inc., Red Piranha Limited, Bitdefender SRL, Musarubra US LLC, Optiv Security Inc.
North America was the largest region in the extended detection and response market in 2023. The regions covered in the extended detection and response market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the extended detection and response market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The extended detection and response market consists of revenues earned by entities providing services such as managed detection and response (MDR) services, incident response and forensic analysis, threat hunting services, security consulting and advisory, training and awareness programs, vulnerability assessment, and penetration testing. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Extended Detection And Response Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on extended detection and response market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for extended detection and response ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The extended detection and response market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.