NEW YORK, Nov. 28, 2017 /PRNewswire/ — The Managed Detection and Response (MDR) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 31.6% during the forecast period
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The global MDR market size is expected to grow from USD 419.7 million in 2017 to USD 1,658.0 million by 2022, at a CAGR of 31.6% during the forecast period. Increasing instances of enterprise targeted cyber-attacks, upcoming government regulations, and need for compliance are expected to proliferate the demand for MDR services over the forecast period. With the emergence and increasing penetration of concepts such as Internet of Things (IoT) and enterprise mobility, businesses across various industry verticals have increased the use of mobile devices to boost employee productivity and gain substantial competitive edge in the industry. However, lack of trust in third-party applications and absence of shared technology framework are said to be the major restraining factors for the growth of this market
The hosted MDR deployment segment is expected to grow at the highest CAGR during the forecast period
Hosted MDR service vendors remotely monitor and manage an organizations’ cyberinfrastructure and do not depend on the customer premises equipment. MDR service providers offer outsourced detection and response of threats and cyber-attacks for businesses operating across various industry verticals. The hosted MDR deployment segment is expected to witness the highest growth as it enables efficient and effective protection against vulnerabilities, such as malware, phishing, ransomware, and emerging cyber-threats
North America is expected to have the largest market size, and Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period
North America tops the global market owing to a concentrated presence of security vendors that provide advanced cybersecurity solutions and technologies. The MDR market is thus dominated by North America, which is considered to be the most advanced region with regard to cybersecurity technology adoption and infrastructure. Moreover, increasing awareness regarding the need to protect the enterprise cyberinfrastructure is being identified as the most critical factor driving the growth in the region. In addition, the growing concern to ensure the protection of financial and sensitive data has increased government intervention in the recent years.
The APAC region is expected to witness a significant growth in MDR mainly due to the increasing adoption of web-based applications and integration of technologies such as Internet of Things (IoT) across various business operations. The APAC MDR market covers Australia, New