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Extended Detection and Response Market Growing at a CAGR 19.1% | Key Player Trend Micro, Microsoft, Bitdefender, Palo Alto Networks, CrowdStrike

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Extended Detection and Response Market Growing at a CAGR 19.1% | Key Player Trend Micro, Microsoft, Bitdefender, Palo Alto Networks, CrowdStrike

June 14
19:01 2022
Extended Detection and Response Market Growing at a CAGR 19.1% | Key Player Trend Micro, Microsoft, Bitdefender, Palo Alto Networks, CrowdStrike
Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US), LMNTRIX (US).
Extended Detection and Response Market by Component (Solutions and Services), Deployment Mode (Cloud and On-premises), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, Government, Retail and eCommerce) and Region – Global Forecast to 2027

MarketsandMarkets forecasts the global Extended Detection and Response Market size is expected to grow from an estimated value of USD 985 million in 2022 to USD 2,358 million by 2027, at a Compound Annual Growth Rate (CAGR) of 19.1% from 2022 to 2027. Evolving cyber threat landscape, need for real-time monitoring, visibility, analysis, and response across security stack and shift from EDR to XDR are some of the factors that are driving the market growth.

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By component, the services segment to register the highest growth rate during the forecast period

Based on offerings, XDR services have witnessed a growing demand in recent years. The services include the support offered by security vendors to assist their customers in using and maintaining XDR efficiently. The services segment has witnessed tremendous growth in recent years. Both SMEs and large enterprises are increasingly relying on XDR providers to better respond to cybersecurity incidents. Financial services, healthcare, and eCommerce verticals have witnessed huge data losses due to security breaches. Hence, they are highly dependent on XDR for strengthening their cybersecurity capabilities. Employees are also adapting to new working practices by using VPN services, thus making their systems more vulnerable to attacks. With the ongoing scenario of rising attacks, organizations are deploying XDR to better protect their security infrastructure worldwide.

Based on deployment mode, the cloud segment to grow at the highest CAGR during the forecast period

The cloud deployment offers increased scalability, speed, 24/7 support services, and improved IT security. The demand for SaaS-based security solutions is rapidly increasing, as the central delivery model meets the IT security needs. Owing to the increasing number of applications being deployed on the hosted provider’s data centers, there is a shift from traditional on-premises XDR services to hosted XDR services across large enterprises and SMEs. Some of the key vendors offering on-premises and cloud XDR deployment modes are Secureworks, IBM, Trellix, Cisco, and eSentire.

What is XDR?

According to MarketsandMarkets, XDR consolidates multiple security products into a unified security platform for a real-time view into threats. It ensures analysis, prioritization, and remediation of data across endpoints, emails, servers, cloud workloads, and networks to enable deep visibility into advanced threats.

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Competitive Overview:

The XDR market is led by some of the globally established players such as Trend Micro (Japan), Microsoft (US), Bitdefender (Romania), Palo Alto Networks (US), CrowdStrike (US), SentinelOne (US), IBM (US), Trellix (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Cybereason (US), Elastic (US), Fortinet (US), AT&T (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), Cynet (US), LMNTRIX (US), Hunters (Israel), and Confluera (US). These players have adopted various growth strategies such as partnerships, agreements, collaboration, acquisitions, and product developments to increase their market presence.

Trend Micro holds a prominent position in the XDR market space. TrendMicro develops and sells encryption-related solutions. The company offers encryption products under different segments, such as centralized management, data center and cloud security, email security, endpoint protection, Industrial Control Systems (ICS), mobility, security and risk management, suites, and web gateway. It provides services and technical support in the cybersecurity space. In the encryption software market, it offers endpoint encryption under user protection products. The XDR solution Trend Micro Vision One applies XDR analytics to the activity data collected from its native solutions in the environment to produce correlated, actionable alerts, and comprehensive incident views. The strong presence across the globe is one of the key factors leading to a good market share in the XDR market.

Apart from large and SME players, start-ups such as Sophos, Cybereason, LMNTRIX, Confluera, Hunters, Exabeam, among others are also evolving in the MDR market space.

Another important player in the XDR market space is Microsoft which is one of the key developers and manufacturers of computer software, personal computers, and consumer electronics. It also provides services associated with these offerings, and other professional and managed services. The company operates through three major business segments: Personal Computing, Productivity and Business Processes, and Intelligent Cloud. Microsoft 365 Defender is the XDR solutions combined with the SIEM capabilities to help organizations fight form the external threats and cyberattacks and modernize the security operations. The combination of SIEM and XDR provides end-to-end threat visibility across all the segments and prioritize the attack alerts with the help of automation to proactively hunt and implement threat preventions.

According to MnM’s market evaluation framework, most companies opt for inorganic growth strategies to maintain their position in the market. The number of deals increased by around 50-60% relatively in the period of 2020-2021. These deals collectively include partnerships, acquisitions, collaborations, and alliances. Due to the COVID-19 outbreak, there was a sudden decline in product launches and business expansion activities. However, from 2021 onward, companies are expected to follow organic growth strategies to provide XDR solutions and services to end users, which, on the other hand, would help companies in increasing their market revenue.

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