Managed Detection and Response (MDR) Market Size is Estimated to be USD 12.4 Billion by 2034; Rising Escalating Cyber Threats Fuel the Market Growth

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Published Date: December 2024

Managed detection and response (MDR) market has emerged as a critical component of the cyber security landscape addressing the growing need for advanced threat detection and rapid response capabilities. Further, the focused market is driven by the increasing frequency and complexity of cyber threats, the shortage of skilled cybersecurity professionals, and the rising adoption of cloud-based and remote working environments.

Segmentation Analysis:

By Security Type	Managed Endpoint Detection and Response, Managed Network Detection and Response, and Cloud Detection and Response
By Deployment Mode	Cloud-based and On-premises
By Enterprise Type	Small and Medium-sized Enterprises and Large Enterprises
By End- User Industry	BFSI, Healthcare, IT & Telecom, Manufacturing, Retail & E-commerce, Government, and Others

Report Highlights:

Managed Detection and Response (MDR) market accounted for USD 1.9 billion in 2024.
Target Market estimated to be USD 12.4 billion by 2034 and to register a CAGR of 22.9%.
Based on security type, the managed detection and response (MDR) market is rapidly boosting in cloud detection and response segment.
According to deployment mode, the cloud-based segment gets a large market share in the managed detection and response (MDR) market.
Based on enterprise type, the managed detection and response (MDR) market is rapidly boosting in large enterprises segment.
According to end-user industry, the BFSI segment holds a large market share in the managed detection and response (MDR) market.
By region, the managed detection and response (MDR) market is expected to expand rapidly in North America.

Market Dynamics:

Growing Factor	Challenge Factor	Market Trend
Adoption of Cloud Computing	Complexity of Integration	Increased Investment in Cybersecurity

Key Highlights:

In October 2024, Binary Defense, the trusted Managed Detection and Response (MDR) and enterprise defense provider, has been recognized as a Notable Provider in Forrester’s The Managed Detection and Response Services Landscape, Q3 2024 report. This marks the ninth time Binary Defense has been recognized by a leading analyst firm.
In June 2024, Darktrace, a global leader in cybersecurity AI, announces the launch of its new service offering, Darktrace Managed Detection & Response (MDR). The service combines its best-in-class detection and response capabilities spanning across the enterprise, with the expertise of its global analyst team.
In January 2024, ESET, a global leader in cybersecurity, has announced the launch of ESET MDR, an innovative solution aimed at addressing the evolving cybersecurity challenges faced by SMBs. This new offering expands on ESET’s Detection & Response Ultimate service for enterprises, enabling SMBs to immediately respond to incidents, enhance their security postures, reduce false positives and fortify their threat detection, investigation, and response capabilities.

Report Analysis:

Main Components & Features of MDR:

Methods	Process	Tools & Software
Proactive Threat Hunting	Threat Detection	EDR (Endpoint Detection and Response)
Forensics and Root Cause Analysis	Incident Response	SIEM (Security Information and Event Management)
		XDR (Extended Detection and Response)

Browse ∼60 market data tables and ∼55 figures through ∼190 slides and in-depth TOC on “Managed Detection and Response (MDR) Market, By Security Type (Managed Endpoint Detection and Response, Managed Network Detection and Response, Cloud Detection and Response), Deployment Mode (Cloud-based and On-premises), Enterprise Type (Small and Medium-sized Enterprises and Large Enterprises), End-User Industry (BFSI, Healthcare, IT & Telecom, Manufacturing, Retail & E-commerce, Government, and Others), and Region - Trends, Analysis, and Forecast till 2034”

For more insights into the Managed Detection and Response (MDR) market and its future trends, visit the link: https://www.prophecymarketinsights.com/market_insight/managed-detection-and-response-mdr-market-5315

Competitive Landscape of Managed Detection and Response (MDR) Market:

The prominent players operating in the managed detection and response (MDR) market includes CrowdStrike, Rapid7, Red Canary, Arctic Wolf, Kudelski Security, SentinelOne, Proficio, Expel, Secureworks, Alert Logic, Critical Start, Forescout, Critical Insight, GoSecure, and Mandiant.