Extended Detection And Response Market Growth & Trends
The global extended detection and response market size is expected to reach USD 3,409.8 million by 2030 and is expected to expand at 20.7% CAGR from 2023 to 2030, according to a study conducted by Grand View Research, Inc. The extended detection and response (XDR) market benefits from the increasing adoption of Bring Your Own Device (BYOD) and business mobility trends across organizations, the need to reduce IT security risks, and the rising enterprise-targeted cyber-attacks across the globe. Extended detection and response (XDR) solutions aid security professionals to visualize cyber threat patterns holistically. Furthermore, XDR tools help normalize and centralize data in a central repository to evaluate data security incidents rapidly, giving businesses control over security to defend against vulnerabilities.
Cyber threat risks and the challenges faced in securing critical data are intensifying with the increasing adoption of technologies such as IoT and cloud. Detecting, responding, and mitigating such threats across several control points is complex as organizations deploy various solutions that collectively generate many alerts. This has raised the demand for a comprehensive solution that extends the capabilities of end-point detection to the detection of incidents across several security control points. Unlike End-point Detection and Response (EDR) solutions which remove only endpoint threats, XDR solutions provide a 360-degree view of the security environment.
COVID-19 has led to the heightened need for XDR tools as organizations were required to implement remote working models. The abrupt transition allowed several cyber-attackers to target vulnerable endpoints and a spike in phishing, ransomware, and spam was observed across organizations. Recently, a joint alert was issued by the U.K. and the U.S. Federal cyber agencies, declaring that the COVID-19 crisis is being exploited by cyber-attackers to compromise the end-points used for remote work by employees. The National Cyber Security Centre (NCSC), Cybersecurity and Infrastructure Security Agency (CISA), and Department of Homeland Security (DHS) shared the observations concentrating on some of the latest incidents. The need to effectively detect and mitigate incidents across a dynamic security framework has led to the increased demand for the extended detection and response industry.
Request a free sample copy or view report summary:
Extended Detection And Response Market Report
Extended Detection And Response Market Report Highlights
- Based on component, the solutions segment dominated the extended detection and response industry in 2022 and is expected to register significant growth over the forecast period. This can be attributed to the rising demand for comprehensive detection solutions across organizations of all sizes
- In terms of deployment type, the on-premise segment is expected to dominate the extended detection and response industry over the forecast period. This can be attributed to the need for an optimum level of data security with security protocols and physical access controls across organizations
- The large enterprise segment is expected to dominate the extended detection and response industry owing to the increased spending on security infrastructures and cloud technologies
- North America accounted for the largest market share in 2022. This can be attributed to the high investment of organizations in the region in terms of security solutions
