The global Extended Detection and Response Market size is projected to grow from USD 1.7 billion in 2023 to USD 8.8 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 38.4% during the forecast period. Key factors such as the evolving cyber threat landscape; the need for real-time monitoring, visibility, analysis, and response across the security stack; and the shift from EDR to XDR support the growing demand of the XDR market.
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Based on offerings, the services segment to grow at a higher CAGR during the forecast period
The services segment by offering would grow with the highest CAGR during the forecast period. The services segment has witnessed tremendous growth. Small and large enterprises increasingly rely on XDR providers to respond to cybersecurity incidents and threats. Financial services, healthcare, and eCommerce verticals have witnessed huge data losses due to security breaches. Enterprises are still flourishing in the development of skilled cybersecurity professionals. Therefore, they highly depend on XDR services to strengthen their cybersecurity capabilities. SMEs look forward to adopting managed XDR services in the future.
Based on verticals, the BFSI segment holds the largest market size during the forecast period.
Banks and financial institutes are prime targets for cyberattacks due to the valuable financial and personal information they possess. To enhance their security posture, many banks are adopting XDR solutions. XDR provides a holistic view of the threat landscape and enables banks to detect various threats across various attack vectors, including malware, phishing attempts, account takeovers, insider threats, and sophisticated targeted attacks. Thus, the BFSI vertical holds the largest market size during the forecast period. Some vendors in the market who cater to the BFSI industry are Trend Micro, Microsoft, Bitdefender, Palo Alto Networks, and CrowdStrike, among others.
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Government regulations and the imperative for compliance have also played a significant role in adopting XDR solutions as businesses strive to meet security requirements and protect sensitive data. Additionally, the rapid proliferation of technology, such as IoT and advanced analytics/AI, necessitates implementing XDR solutions to proactively detect and respond to emerging threats. Together, these factors form a powerful force behind the growth and advancement of the XDR market.
What is XDR?
XDR consolidates multiple security products into a unified security platform for a real-time view of threats. It ensures analysis, prioritization, and remediation of data across endpoints, emails, servers, cloud workloads, and networks to enable deep visibility into advanced threats.
Competitive Overview:
The XDR market includes analysis of 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), Cybereason (US), Elastic (US), Fortinet (US), Secureworks (US), Cisco (US), Sophos (UK), Broadcom (US), Barracuda Networks (US), eSentire (Canada), Qualys (US), Blueshift (US), Rapid7 (US), Exabeam (US), VMware (US), Cynet (US), LMNTRIX (US), Stella Cyber (US), and Confluera (US). Product developments, product enhancements, partnerships, agreements, collaborations, and acquisitions are some of the growth strategies by these players to increase their market presence.
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Trend Micro (Japan) is a prominent vendor in the XDR market. Trend Micro, a Japanese cybersecurity company, provides a wide range of advanced threat defense strategies designed for environments such as AWS, Microsoft, and Google, as well as central visibility for better, faster detection and reaction. The cybersecurity platform from Trend Micro safeguards individuals and companies across clouds, networks, devices, and endpoints with decades of security knowledge, worldwide threat analysis, and ongoing innovation. The company offers Trend Micro Vision One and Managed XDR services for Extended Detection and Response. Trend Vision One integrates XDR with powerful risk management tools and dynamic zero trust. It continuously monitors and evaluates an organization’s security posture, with custom role-based dashboard views for prioritized insights. Trend Micro applies XDR analytics to activity data from its native solutions to produce actionable alerts and comprehensive incident views. Users can hunt for active threats using various search methods and leverage automated intelligence to detect new indicators of compromise. Trend Micro XDR works across multiple security vectors, breaking down silos and optimizing security operations through a single pane of glass. Trend Micro Vision One applies XDR analytics to the activity data from its native solutions to produce actionable alerts and comprehensive incident views. On the other hand, Trend Micro Managed XDR and incident response services for support across the XDR solution and customer life cycle. Globally, a strong vendor presence is one of the essential factors leading to a good market share in the XDR market.
Apart from large and SME vendors, start-ups such as LMNTRIX, Confluera, Cynet, and Stella Cyber are also evolving in the XDR market.
Another critical player in the XDR market is Microsoft (US), one of the key developers and manufacturers of computer software, personal computers, and consumer electronics. The company operates through three primary business segments: Productivity and Business Processes, Personal Computing, and Intelligent Cloud. Microsoft 365 Defender is the XDR solution combined with the SIEM capabilities to help organizations fight external threats and cyberattacks and modernize security operations. The combination of SIEM and XDR provides end-to-end threat visibility across all segments. It prioritizes the attack alerts with the help of automation to proactively hunt and implement threat prevention. It provides incident-level visibility at every stage of an attack, enabling automatic disruption of even the most sophisticated threats and accelerated response times across endpoints, identities, emails, applications, and data. Endpoints are empowered to efficiently discover and secure both endpoint and network devices, while identities are managed and secured, even in hybrid environments. Cloud apps benefit from enhanced visibility and data control against advanced threats.
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