Extended Detection and Response Market Size, Share & Industry Analysis, By Component (Services, Solutions), By Deployment Type (On-Premise, Cloud), By Enterprise Size (Large Enterprise, Small & Medium-sized enterprise), By Industry (BFSI, Retail, Healthcare, Manufacturing) And Regional Forecast, 2024-2032

Due to an increase in the frequency of data breaches worldwide, organizations are progressively adopting more decentralized and edge-based security measures such as extended detection and response software. The Extended Detection and Response (XDR) increases SOC efficiency by providing analysts with a unified view of threats detected across numerous data flows and security tools such as cloud security tools, endpoint detection solutions, firewalls, network detection platforms, and email security tools. It's a cloud-native platform with an extensive data infrastructure that gives security teams more flexibility, scalability, and automation alternatives.

Additionally, This software provides prioritization, automation, faster detection, and greater visibility and context. The various organization provides XDR in multiple categories. For Instance, VMware, Inc. provides XDR  in three types: telemetry and data analysis, response, and detection.

Cyber security threats and issues in securing confidential data are escalating due to the increased usage of technologies such as IoT and cloud. This has extended the need for a comprehensive solution that expands extended detection capabilities across many security control points. Additionally, increased mobility trends across enterprises and the growing number of enterprise-targeted cyber-attacks worldwide are all driving the market growth. 

The spread of the pandemic COVID-19 has positively impacted the extended detection and response market. As a result of remote working implemented by organizations, several cybercriminals could target vulnerable endpoints due to abrupt transition, and a rise in phishing, ransomware, and spam was identified across organizations. Additionally, enterprises are increasing their budget towards security which is also included in the market's growth. For Instance,

• In 2020, According to a survey by Microsoft Corp., 36% of total respondents reported that the budget for cybersecurity had expanded. Also, more than 80% of organizations are recruiting security professionals in response to COVID-19.

Key Players Covered:

The major companies in the global extended detection and response market include Confluera Inc., Microsoft Corporation, McAfee, LLC, Cynet, Trend Micro Incorporated, Palo Alto Networks., Accenture plc, Amazon Web Services, Inc., Cisco System, Inc., Fortinet, Inc., Broadcom Inc., Lastline Inc., Cybereason, Cynet, Check Point Software Technologies Ltd., FireEye Inc., and others.

Regional Analysis:

North America is expected to hold a significant market share in the global extended detection and response market due to advanced threat prevention technology and robust IT infrastructure to protect sensitive data. The adoption of security solutions is boosted by end-user investment and high demand for enterprise security solutions. Global market players like Cybereason, Palo Alto Networks, Inc., Microsoft Corporation, and others are investing in developing innovative network security solutions. For Instance,

• In July 2021, Cybereason expanded its global leadership in extended detection and response (XDR) with USD 275 Million investment. This investment validates XDR, EDR, and EPP solutions.

Asia Pacific is likely the fastest market growth with the highest CAGR during the forecast period due to increased service providers and increased government and international corporate investments in various security projects.

Europe is projected to witness substantial growth in the forecast period due to the increasing number of internet security projects and related investments by major corporations in nations such as the United Kingdom, Germany, Spain, France, Italy, and others driving the expansion.

Furthermore, the Middle East and Africa (MEA) and Latin America regions are expected to grow significantly during the forecast period.  The expansion is attributable to increased government and private sector investment in nations such as the Gulf Cooperation Council, South Africa, and others.

Segmentation

Extended Detection and Response Industry Developments

• In August 2021, Palo Alto Network, Inc. announced Cortex XDR 3.0 which expands the company's pioneering extended detection and response (XDR) solution to cloud and identity-based threats. This solution provide enterprises with the comprehensive analytics  to protect from highly sophisticated cyberattacks


• In January 2021, Fortinet, Inc. announced “FortiXDR” latest AI-powered extended detection and response solution which enables to simplify cyberattack detection, accelerate detection, and coordinate response across the company.