Global Managed Detection and Response (MDR) Market to Fortify Cybersecurity with a CAGR of 8.5% by 2030
According to a new report published by MarkWide Research, titled, “Global Managed Detection and Response (MDR) Market,” the global market for managed detection and response services is expected to experience significant growth. MDR services play a crucial role in enhancing cybersecurity by proactively detecting and responding to security threats.
The report reveals that the global managed detection and response market is projected to witness a robust CAGR of 8.5% over the forecast period from 2023 to 2030. This growth is driven by the increasing sophistication of cyber threats, the need for round-the-clock monitoring, and regulatory requirements for data security.
Key Findings from the Report:
- Cybersecurity Threat Landscape: The evolving threat landscape, including advanced persistent threats (APTs) and ransomware, necessitates proactive security measures.
- Proactive Monitoring: MDR services provide continuous monitoring, threat detection, and rapid incident response to mitigate security risks.
- Incident Investigation: MDR teams investigate security incidents, identify the root causes, and develop strategies to prevent future attacks.
- Compliance Requirements: Organizations across various industries must comply with data protection and cybersecurity regulations, driving the adoption of MDR services.
- Managed Services Model: The managed services model allows organizations to access cybersecurity expertise without the need for in-house resources.
Market Forecast:
The report indicates that the global managed detection and response market is currently valued at $7.2 billion in 2023 and is projected to reach $13.8 billion by 2030, with a CAGR of 8.5% during the forecast period. North America and Europe are expected to be key regions for market growth, given the high prevalence of cyber threats.
Company Profiles:
Key players in the global managed detection and response market include CrowdStrike Holdings, Inc., FireEye, Inc., and Palo Alto Networks, Inc. These companies specialize in providing advanced MDR solutions to safeguard organizations against cyber threats.
Conclusion:
The global managed detection and response market are poised for significant growth, driven by the increasing complexity of cybersecurity threats and the need for proactive security measures. With a projected CAGR of 8.5% by 2030, this market offers opportunities for service providers to fortify organizations’ cybersecurity defenses.