DUBLIN, May 19, 2022--(BUSINESS WIRE)--The "Global Extended Detection and Response Market Size, Share & Industry Trends Analysis Report By Component, By Deployment Type, By Application, By Regional Outlook and Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Global Extended Detection And Response Market size is expected to reach $1.6 billion by 2027, rising at a market growth of 19.9% CAGR during the forecast period.
Extended detection and response (XDR) is relatively a new concept in security technology that was created to address the demand for advanced and comprehensive detection and response. Cyber risks have increased as a result of ongoing innovations in technologies like the Internet of Things (IoT) and the cloud, posing issues in securing important data. As a result, businesses are investing in a variety of security solutions in order to enhance their defences and limit the number of redundant attacks.
In addition, extended detection response is defined as a SaaS-based, vendor-specific security threat detection and incident response platform that natively combines several security products into a cohesive security operations system that integrates all licensed components. By offering a holistic and yet simplistic view of threats across the whole technology ecosystem, XDR enables an organization to go beyond traditional investigative controls. Moreover, XDR provides the real-time data required to deliver risks to business processes in order to achieve better, faster results.
Security teams lose visibility as a result of the greater integration of numerous software solutions with current systems, as well as the increased difficulties of managing multiple warnings with inadequate information regarding the growing number of security threats. XDR technology, which employs dynamic analytics and machine learning approaches to give increased visibility, analysis, and response across networks, clouds, and endpoints, has emerged as a result of this scenario.
Market driving Factors:
High awareness of the benefits of Extended Detection and Response Systems
These solutions are restricted to endpoints and server environments in practice, and external security services (or third-party security solutions) have limited access to threat perspectives. In addition, XDR gives security experts a 360-degree view of the security landscape, allowing them to expose threats on any security layer, analyze how an attack occurred- from entry points to affected areas, to where the threat began and how it spread, and respond to threats that extend beyond infrastructure control points, networks, and endpoints.
IT teams and security groups must contend with enormous signals in order to sustain floods of security alerts created by security devices. Moreover, the benefits of wider data analysis and simultaneous efficiency that XDR provides enable teams to group related alarms together, prioritize them, and operate the most important ones.
Governments and businesses are investing in R&D to build comprehensive threat intelligence systems
Governments and commercial companies from all over the world are investing in R&D to bring enhanced threat detection to the market. The Critical Infrastructure Security and Resilience (CISR) R&D plan calls for communities, like crucial infrastructure owners and operators, government and corporate entities, and international partners, to increase the security of the critical infrastructure.
The CISR R&D encourages action plans for deploying critical infrastructure solutions at the local, regional, and national levels to improve country resilience. In collaboration with the Joint Research Centre (JRC), the European Reference Network for Critical Infrastructure Protection (ERNCIP) has created tools, approaches, and scientific publications to defend critical infrastructures against threats and breaches.
Marketing Restraining Factor:
High cost of installation
Investing in security solutions is critical for a country's overall economic stability and security posture to be maintained. In addition, these solutions necessitate company-wide coverage for efficient and secure operations, resulting in higher infrastructure expenses. As a result, several operators find these systems to be prohibitively expensive. Moreover, there are many companies that are willing to shift to the cloud but could not go ahead due to the high associated cost of security solutions. Further, many countries are still witnessing low penetration of advanced security solutions that may discourage the operating companies from reaping appropriate benefits of such solutions.
Market Segments Covered in the Report:
By Deployment Type
Small & Medium Enterprises (SMEs)
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
Key Market Players
Fidelis Cybersecurity, Inc.
Palo Alto Networks, Inc.
Sophos Group PLC
For more information about this report visit https://www.researchandmarkets.com/r/k7zn0
View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005755/en/
Laura Wood, Senior Press Manager
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