The global extended detection and response market revenue was around US$ 1191.0 million in 2022 and is estimated to reach US$ 6.7 billion by 2031, growing at a compound annual growth rate (CAGR) of 21.5% during the forecast period from 2023 to 2031.
XDR is an integrated suite of safety tools for IT infrastructure that delivers complete threat prevention, detection, and response across networks, endpoints, cloud, and servers. XDR delivers improved clarity in scanning the combined devices to scan for breaches.
Factors Influencing Market Growth
- The key factor affecting the growth of the extended detection and response market is the evolution of cyber threats.
- The low budget and availability of free extended detection and response tools hinder the growth of the market.
- The rising deployment of controlled response solutions and extended detection across SMEs also deliver lucrative opportunities for the growth of the extended detection and response market.
Impact of COVID-19
The COVID-19 pandemic outbreak had a significant influence on the extended detection and response market. It has positively affected the adoption of extended detection and response (XDR) because of the increased cyber threats. With the growing trend of work-from-home (WFH), the necessity to use managed security and XDR has expanded ultimately.
In 2022, North America dominated the extended detection and response market in terms of revenue. This is attributed to rising developments in technology and digitalization of the market in this region leading to the adoption of XDR solutions to safeguard critical data of the organizations.
Also, Asia-Pacific is anticipated to notice the highest growth in upcoming years because of the rapid shift towards cloud-based platforms and increased cyber threats in this region.
The leading prominent companies profiled in the global extended detection and response market are: -
- Palo Alto Networks Inc
- Cisco Systems Inc.
- Elastic Inc.
- Broadcom Corp
- Fortinet Inc.
- Trend Micro Inc
- BlueShift Technologies
- IBM CORPORATION
- Microsoft Corporation
- Sophos Group
- Other prominent key players
The global extended detection and response market segmentation focuses on Component, Deployment Model, Enterprise Size, Industry Vertical, and Region.
Segmentation based on Component
- Professional Service
- Managed Service
Segmentation based on Deployment Model
- On Premise
Segmentation based on Enterprise Size
- Large Enterprises
Segmentation based on Industry Vertical
- Energy and Utilities
- Retail and E Commerce
- IT and Telecom
Segmentation based on Region
- North America
- The U.S.
- Rest of Europe
- South Korea
- Rest Of Asia-Pacific
- Latin America
- Middle East