by Endpoint detection and response (EDR) solutions help organizations to detect, investigate, and automatically respond to malware, zero-day attacks, and other cyber threats. EDR solutions provide visibility into endpoints by collecting and analyzing endpoint data. They continuously monitor endpoints for anomalous behaviors in real-time, identify threats using various techniques such as machine learning and heuristics, and enable automated response actions. EDR solutions are deployed by various organizations to strengthen their cybersecurity posture. They find applications across industries such as BFSI, IT & telecom, healthcare, government, education, and retail among others.
The global Endpoint Detection and Response (EDR) Market is estimated to be valued at US$ 3430.46 Mn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The growing prevalence of cyber threats and data breaches pose a serious risk to organizations and is a key driver for the growth of the endpoint detection and response market. According to the Center for Strategic and International Studies, data breaches cost the global economy over $5 trillion in 2020. The adoption of work-from-here culture amid the COVID-19 pandemic has further increased the cyber attack surface for organizations. EDR solutions play a crucial role in securing remote endpoints and hybrid work environments. Additionally, the ability of EDR solutions to detect both known and unknown threats using advanced analytics helps organizations enhance their security posture without requiring prior knowledge of all threats. EDR solutions augment threat detection capabilities of existing security tools such as antivirus, improve incident response time, and enable automated remediation actions. These benefits are accelerating the adoption of EDR solutions globally.
Segment Analysis
The Endpoint Detection and Response (EDR) market consists of two key segments – on-premise and cloud-based EDR solutions. The on-premise segment currently dominates the market with more than 60% share owing to higher acceptance and better security offered by deploying EDR solutions within the organization’s internal infrastructure. However, the cloud-based EDR segment is expected to witness fastest growth during the forecast period owing to scalability, flexibility and low upfront costs associated with cloud deployment models.
PEST Analysis
Political: Data privacy laws across regions have increased the demand for advanced endpoint security solutions like EDR to detect and respond to cyber threats effectively and safely.
Economic: Growing digitization of businesses and remote working trends during the pandemic have increased volumes of sensitive data transfers over networks, driving investments in cyber security technologies.
Social: Rising awareness about data breaches and ransomware attacks have encouraged organizations to adopt proactive security measures for protecting customer information and endpoints.
Technological: Advancements in artificial intelligence, machine learning and cloud computing are aiding EDR vendors to automate threat detection, accelerate response times and scale solutions efficiently.
Key Takeaways
The global Endpoint Detection And Response (EDR) Market is expected to witness high growth.
Regional analysis: North America dominates currently with over 40% market share owing to stringent data protection regulations and early technology adoption. Asia Pacific is expected to emerge as the fastest-growing regional market during the forecast period led by countries like China, India and Australia.
Key players operating in the EDR market are Central Admixture Pharmacy Services, Inc., Nephron Pharmaceuticals Corporation, QuVa Pharma, Olympia Pharmacy, ASP Cares, Fagron Compounding Pharmacies, Athenex, Inc., Avella Specialty Pharmacy, Atlas Pharmaceuticals, Empower Pharmacy, Carie Boyd€TMs Prescription Shop, Edge Pharma, Imprimis NJOF, LLC, IntegraDose Compounding Services, LLC, Wells Pharma of Houston, LLC, US Compounding Inc., SCA Pharma, and Vertisis Custom Pharmacy. Major players are focusing on product development and strategic partnerships for gaining higher market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
