Managed Detection and Response Services Market will grow at a CAGR of more than 23% by 2022

Market Research and Consulting Company
This market research report presents a comprehensive analysis of the global managed detection and response services market based on the type of implementation such as on-premises and hosted.

The global managed detection and response services (MDRS) market is estimated to expand at a stable CAGR by 2022; according to a report available on Radiant Insights, Inc. Growing necessity for quick detection of possible cyber-attacks and preventive solutions is anticipated to propel the market over the forecast period (2018 to 2022).Managed detection and response services (MDRS) can improve threat detection monitoring and incident response capabilities using turnkey approach.

Growing awareness regarding benefits of MDRS among small and medium enterprises against cyber threats can fuel demand in the coming years. To cater to rising demand, most manufacturing companies are investing in research and development to offer innovative MDRS to end-users. For instance, Sense Post recently launched its cloud-based managed detection and response service. This service can offer managed and proactive solutions to organizations while strengthening their cyber security. The system can be deployed easily in companies to collect data from various sources such as networks, firewalls, and security devices. Real-time detailed reports designed by this system are likely to enable users to respond quickly to these issues and to avoid possible attacks.

High demand for advanced cyber security solution in midsize organizations and large enterprises can fuel the growth of the managed detection and response services market in the coming years. Increasing number of hackers and intruders stealing important information or data by entering into target organizations network is projected to influence growth of the market. Incapability of in-house security teams in small medium enterprises to detect and handle potential security threats can stimulate market expansion over the forecast period.

The report “Global Managed Detection and Response Services Market 2018-2022” is available now at   https://www.radiantinsights.com/research/global-managed-detection-and-response-services-market-2018-2022

The worldwide managed detection and response services (MDRS) market can be segregated on the basis of security type, organization size, deployment, and region. Based on security type, the market can be classified into network, end-point, application, and cloud. In the coming years, end point segment is anticipated to hold the largest market share in the forthcoming years. This growth can be attributed to increasing number of vendors offering advanced endpoint security type MDR services. Endpoints are networks devices which can include desktops, servers, laptops, smartphones, and tablets. Advanced endpoint security types can offer real-time visibility, control, and analytics of various endpoints deployed in an organization. This real-time monitoring can prevent possible cyber attacks.

Based on deployment, the market for managed detection and response services can be bifurcated into on-premises and cloud based. In the coming years, cloud based segment is projected to gain popularity among consumers owing to easy deployment and effective results.

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Based on organization size, the market can be divided into large enterprises and small medium enterprises (SMEs). Over the forecast period, SMEs segment is expected to witness significant growth owing to lack of dedicated cybersecurity teams to identify potential cyber attacks. In addition, budget constraints in SMEs to recruit and train employees and to form their own cyber security teams can positively influence the market in the next few years.

Regional segmentation includes Asia Pacific (APAC), Americas, and Europe, Middle East and Africa (EMEA). In Americas market, North America is anticipated to hold the largest market share in near future owing to stringent cyber security regulations and high number of cyber security vendors in the region. In addition, rising investments in R&D activities to develop novel and advanced security technologies is predicted to impel demand for managed detection and response services in the region.

In Asia Pacific, the market for managed detection and response services is expected to witness significant growth during the forecast period. Rising number of small scale enterprises requiring advanced cyber security solutions to prevent potential attacks is the primary regional market driver.

Some of the leading companies operating in the managed detection and response services market are Alert Logic, Inc.; Cisco Systems; Arctic Wolf Networks Inc.; CrowdStrike; and eSentire Inc.

To read more reports of this category, by Radiant Insights:

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