April 15, 2024
Endpoint Detection And Response (EDR) Market

The Increasing Security Concerns Due To Expanding Use Of Iot Devices Anticipated To Openup New Avenue For Endpoint Detection And Response (EDR) Market

The Endpoint Detection and Response (EDR) Market is estimated to be valued at US$ 3430.46 Mn or Mn in 2023 and is expected to exhibit a CAGR of 26.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Endpoint detection and response solutions help organizations detect advanced threats and vulnerabilities at endpoints such as desktops, laptops, and mobile devices. EDR tools monitor endpoints in real time for suspicious activities and events. They use techniques such as machine learning and behavioral analysis to determine if detected activities are malicious. EDR tools also provide automated response capabilities to isolate, contain and eliminate threats across the enterprise network.

Market Dynamics:

Escalating instances of sophisticated cyberattacks: Over the past few years, there has been a significant rise in sophisticated cyberattacks such as ransomware, advanced persistent threats (APTs), phishing among others. EDR solutions help enterprises gain comprehensive visibility across all endpoints to detect even the stealthiest of attacks in real-time.

Increasing digital transformation of enterprises: Digital transformation of enterprises has led to rising adoption of cloud, IoT and mobile technologies. However, the expansion of the attack surface has also increased vulnerabilities. EDR solutions provide robust protection against both known and unknown threats across different platforms.

Segment Analysis

The global Endpoint Detection and Response (EDR) market is segmented into on-premises and cloud-based categories. The cloud-based EDR segment is dominating the market and is expected to witness the highest growth over the forecast period. This is because cloud-based EDR solutions provide various advantages like scalability, ease of deployment and maintenance over on-premises solutions.

PEST Analysis

Political: The growing cyber security threats and increasing regulations around data privacy and security are driving the governments across various countries to increase cyber security budgets and adopt advanced EDR solutions.
Economic: The global economic growth is positively impacting the IT security spending of organizations. The increasing digital transformation of enterprises is also boosting the demand for EDR solutions.
Social: The rising trend of bring your own device (BYOD) policy of organizations and increasing reliance on mobile and remote working culture is increasing vulnerability to cyber-attacks, thereby driving the adoption of EDR solutions.
Technological: Advancements in AI, machine learning and analytics capabilities are helping EDR vendors to enhance their solution offerings with more accurate threat detection and automated response capabilities.

Key Takeaways

The Global Endpoint Detection And Response (EDR) Market Growth is expected to witness high, exhibiting CAGR of 26% over the forecast period of 2023 to 2030, due to increasing adoption of advanced cyber security solutions to protect complex IT infrastructure of enterprises from sophisticated cyber threats. The EDR market size is estimated to reach US$ 3430.46 Mn in 2023.

Regional analysis: North America dominates the global EDR market with the highest share currently due to stringent data protection laws and high technology adoption rate in the region. Asia Pacific is expected to witness fastest growth in the EDR market during the forecast period owing to increasing cyber attacks and rising IT spending in countries like China, India and Japan.

Key players operating in the Endpoint Detection and Response (EDR) market are RSA Security (DELL EMC), Carbon Black Inc., McAfee Corporation, Cisco Systems Inc., OpenText Corporation, FireEye Inc., CrowdStrike Inc., Digital Guardian, Broadcom Inc., Deep Instinct, and Cybereason Inc. Key players are focusing on enhancing AI and ML capabilities in their EDR solutions to improve automated threat detection and response capabilities and gain competitive edge in the market.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it