According to the report published by Allied Market Research, the global extended detection and response market generated $980.3 million in 2021, and is expected to reach $6.7 billion by 2031, witnessing a CAGR of 21.5% from 2022 to 2031. The report offers an extensive analysis of changing market dynamics, top segments, value chain, competitive landscape, and the Covid-19 pandemic impact.
On the basis of component, solutions segment captured the largest Extended Detection and Response Market Share in 2021 and is expected to continue this trend during the forecast period as XDR solutions detects, automates, prevent and shield networks from cyber threats.
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However, services segmented is expected to witness highest growth in upcoming years since it complements software program implementation, maximize cost of existing installation by optimizing it, and minimizes deployment cost & risks, which further fuels increase of the extended detection and response market.
Depending on the deployment model, an on-premises segment dominated the market share in 2021, and is expected to continue this trend in the forecast period. This is because companies choose an on-premises version, due to excessive statistics security and much fewer data breach compared to cloud-based deployment models, which further drives demand for the on-premises deployment model within public and personal sectors. However, the cloud segment is expected to witness the highest growth.
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Depending on region, North America dominated the market in 2021. This is attributed to growing developments in technology and digitalization of market in this region leading to adoption of XDR solutions to protect critical data of organizations. However, Asia-Pacific is expected to witness highest growth in upcoming years owing to increased cyber threats and rapid shift towards cloud-based platforms in this region.
The extended detection and response market analysis was valued at $1167.49 million in 2022, and is projected to reach $ 6722.67 million by 2031, registering a CAGR of 21.5%. COVID -19 outbreak has significantly impacted the extended detection and response market. The global COVID-19 pandemic has drastically affected businesses across the world. It has positively impacted adoption of extended detection and response (XDR), owing to increased cyber threats.
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Covid-19 Scenario:
- The Covid-19 pandemic impacted the entire business ecosystem across the world owing to lockdown restrictions that led companies to adopt remote working or work from home culture. It positively impacted the adoption of extended detection and response solutions and services, owing to rise in cyber threats on devices. With increasing trend of remote working and work from home culture, the requirement for managed security and extended detection and response surged drastically.
- Companies are focusing on adopting emerging technologies such as edge computing, automation, and cloud-based endpoint detection and response across various industries such as BFSI, healthcare, and government. The adoption is aimed to carry out contactless operations safely and securely.
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Leading market players of the global extended detection and response market analyzed in the research include BitDefender, Broadcom Corp, Confluera, Cisco Systems Inc., Cynet, Crowstrike, McAfee, BlueShift Technologies, Sophos Group, IBM Corporation, Fortinet Inc., Elastic Inc., Microsoft Corporation, Trend Micro Inc., SentinelOne, and Palo Alto Networks Inc.
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