Growing cybersecurity threats is expected to drive market expansion in the near future at a CAGR of 39.20% during the forecast period 2023 to 2032.
Extended Detection & Response Market Statistics | Forecast - 2032
Market Research Future (MRFR) has published a cooked research report on the “Global Extended Detection and Response Market” that contains information from 2018 to 2032. The extended detection and response market is estimated to register a CAGR of 39.20% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the Global Extended Detection and Response Market— Bitdefender, Broadcom, Cybereason, Cynet, Fidelis Cybersecurity, McAfee, LLC, Microsoft, Palo Alto Networks, Red Piranha Limited, SentinelOne, and Sophos Ltd, and others.
Extended Detection & Response Market Highlights
The global extended detection and response market is accounted to register a CAGR of 39.20% during the forecast period and is estimated to reach USD 31.3 Billion by 2032.
The extended detection and response (XDR) market is evolving to combat increasingly sophisticated cyber threats. XDR solutions consolidate security data from multiple sources and apply advanced analytics to detect and respond to threats across an organization's digital landscape. This comprehensive approach is crucial for enhancing cybersecurity in today's interconnected and complex threat landscape.
Segment Analysis
The global extended detection and response market has been segmented based offering, deployment mode, organization size, and vertical.
On the basis of offering, the market is segmented into solutions, services. The solutions segment dominated the market, accounting for 35.45% of market revenue. Because XDR solutions offer comprehensive security features including threat detection, incident response, and endpoint protection, they will continue to dominate the XDR market over the forecast period.
Based on deployment mode, the global extended detection and response market has been segmented into on-premises, cloud. The On-premises category generated the most income. Businesses with the necessary IT infrastructure choose to build extended detection and response systems on their own premises because they have complete control over the updates and solutions.
Based on organization size, the global extended detection and response market has been segmented into large enterprises, SMEs. The large enterprises category generated the most income. Due to their vast money and resources, big businesses control the XDR market.
Based on vertical, the global extended detection and response market has been segmented into BFSI, government, manufacturing, energy and utilities, healthcare, retail and ecommerce, IT and ITes, other verticals. The BFSI industry generated the most income. The BFSI sector is a target for cyberattacks because it manages a lot of delicate financial and consumer data.
Regional Analysis
The global extended detection and response market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Extended Detection and Response market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Extended Detection and Response market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Extended Detection and Response market comprises of Middle East, Africa, and Latin America.
The North America extended detection and response market dominated this market in 2022 (45.80%). The United States in particular has one of the most advanced and active cyber threat landscapes in all of North America. The region is frequently the victim of several cyberattacks, including state-sponsored operations, ransomware campaigns, and financial fraud. The continual evolution of threats is what fuels the desire for innovative security solutions like XDR.
Moreover, Europe holds the second-largest market share for extended detection and response. Strict requirements for data protection and breach reporting are mandated by the General Data Protection Regulation (GDPR) of the European Union. European companies utilize XDR to ensure compliance and safeguard customer data.
Additionally, the Asia-Pacific extended detection and response market is expected to grow at the fastest CAGR from 2023 to 2032. The Asia-Pacific area is undergoing a quick digital revolution as more people use mobile, cloud, and IoT technology. The attack surface has grown due to the development of digital technologies, necessitating XDR to safeguard these shifting environments.
Furthermore, the rest of the world's extended detection and response market is divided into the Middle East, Africa, and Latin America. In Latin America, the Extended Detection and Response (XDR) market is witnessing steady growth as organizations seek advanced cybersecurity solutions. XDR combines data from various sources to detect and respond to evolving cyber threats efficiently. With increasing cybersecurity concerns, Latin American businesses are adopting XDR to bolster their defenses and protect sensitive data in an increasingly digitalized landscape.
Key Findings of the Study
- The global extended detection and response market is expected to reach USD 31.3 Billion by 2032, at a CAGR of 39.20% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market. The usage of cloud computing, IoT, and mobile technologies is increasing, and the Asia-Pacific region is going through a rapid digital transformation.
- Based on offering, the solutions segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.
- Bitdefender, Broadcom, Cybereason, Cynet, Fidelis Cybersecurity, McAfee, LLC, Microsoft, Palo Alto Networks, Red Piranha Limited, SentinelOne, and Sophos Ltd, and others.