Northbrook, IL 60062 -- (SBWIRE) -- 07/12/2023 -- 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, according to research report by MarketsandMarkets™.

Increasing cyberattacks have heightened the need for XDR solutions. Organizations are increasingly transitioning from point solutions to XDR solutions as XDR provides visibility across critical data sources, including endpoint, network, cloud, email, identity, IoT/OT, and others, to detect and respond to threats often missed by individual point solutions.

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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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Based on regions, Asia Pacific expects to grow at the highest CAGR during the forecast period.

Asia Pacific is home to diverse economies and rapidly growing digital infrastructure and the region faces unique cybersecurity challenges. In this dynamic region, XDR solutions offer a comprehensive threat detection, response, and remediation approach across multiple endpoints, networks, and cloud environments. Asia Pacific countries are undergoing rapid digital transformation, with increased adoption of cloud services, mobile devices, and IoT technologies. XDR provides holistic visibility across these digital assets, enabling organizations to secure their expanding attack surfaces.

Top Key Players:

The XDR market includes analysis of 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).

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