Endpoint Detection and Response Market Growth to Display CAGR of 25.3%

The acceptance of remote work and an increase in the number of connected devices both contribute to the market’s expansion.

PORTLAND, PORTLAND, OR, UNITED STATES, February 16, 2023 /EINPresswire.com/ — As per the report, the global endpoint detection and response market accounted for $1.9 billion in 2021, and is expected to reach $18.3 billion by 2031, growing at a CAGR of 25.3% from 2022 to 2031.

Increase in use of cloud-based endpoint detection and response for safety and security reasons and penetration of cloud-based technologies have boosted the growth of the global endpoint detection and response market. Moreover, governments have focused on increasing investment in IT operations for various industries, which allows businesses to adopt new solutions and services streamline their business operations. This will open new opportunities in the future.

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The solution dominated the market growth

By component, the solution segment held the largest share in 2021, accounting for more than two-thirds of the global endpoint detection and response market, as they offer benefits such as improving detection and response to cyber incidents. However, the services segment is expected to register the highest CAGR of 26.4% during the forecast period, owing to creased business competition, legislation, user needs, and project risks.

The retail segment to manifest the highest CAGR through 2031

By industry vertical, the retail segment is expected to register the highest CAGR of 31.7% during the forecast period, due to increasing use of mobile devices among individuals. However, the retail segment is expected to hold the largest share in 2021, contributing to more than one-fifth of the global endpoint detection and response market, as EDR solutions offer flexibility and security in workplace from malware functions in real estate.

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North America held the largest share

By region, the global endpoint detection and response industry across North America dominated the market in 2021, holding more than two-fifths of the market, due to increased use of endpoint detection and response in forensic, government, and banking & finance for security purposes to improve businesses and customer experience. However, the market across Asia-Pacific is expected to register the highest CAGR of 28.4% during the forecast period, owing to presence of robust IT infrastructure and solid software and services.

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Major market players
• Carbon Black Inc.
• Cisco Systems, Inc.
• Crowdstrike Inc.
• Intel Corporation
• McAfee, LLC
• Microsoft Corporation
• Palo Alto Networks, Inc.
• RSA Security LLC.
• Symantec Corporation
• Trend Micro Incorporated

Key Findings of the Study:

• By component, the solution segment dominated the Endpoint Detection and Response Industry in 2021. However, the services segment is expected to exhibit significant growth during the forecast period.
• On the basis of deployment mode, the on-premises segment dominated the endpoint detection and response market in 2021. However, the cloud segment is expected to witness the highest growth rate during the forecast period.
• Depending on organizational size, the large enterprises generated the highest revenue in 2021. However, the SMEs segment is expected to witness the highest growth rate in the near future.

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David Correa
Allied Analytics LLP
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